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SPX 4h Candle wick and Line Analysis Just posting my chart. Actually sniffed out the short op on 1/26 with some basic trendlines/triangle pattern charting. Went short that night before bed, got stopped out at 00:45 on 1/27 with a small profit, but woke up to a hell of a drop, sucks! Whatever. Called out some short targets from other triangles/channels. All got hit. We ended up wicking down to the (yellow) long term "covid" trendline which has presented huge buy ops in the past, but we needed a 4h candle close down in that range so I held out for a few 4h candles before going short again. As expected, we got the 4h close at our yellow trendline which cleared us for takeoff. I do think we see ATH from here. This is a great lesson on wicks and candle closes. I really like to draw patterns using line chart only. Wicks are fun but are not to be trusted.
OANDA:SPX500USDLong
by yosip1115
Never trade with your beliefs, against the market ...BTC/USDTGood day, dear friends. My open short position is failing because I entered it only because I expected it, and now, because of my persistence, I will suffer a loss because I gave a bad position because of my persistence ... Never, never trade like this. I saw a strong level, I saw a flat zone ... And I also know that the bisector of an expanding triangle in an uptrend, if it breaks out, the price always goes out of its range. And also, we have an upward range with a support zone. Also, there is a hammer + volume candlestick - which indicates a trend change (price direction) Also indicators MACD and RSI. Everything pointed to a trend reversal, but I - ... I will not swear here, now I have a loss, and I am ashamed to admit that I was mistaken for so many positions and for the first time - i have a loss (big loss) ... I made a mistake because i gave the wrong recommendation .. if it succeeds (judging by the inverted hammer), the price should return - and I will be able to close this position at breakeven. If not, I will suffer a 1.2% loss of my crypto portfolio. So, I ask each of you - do not trade on your beliefs and your visions. Only the graph, only the volume, and only the correct analysis. Don't repeat my mistake.
by UnknownUnicorn13204076
4
MUST SEE!!!!!! How candle time ranges make a BIG differencethis is a quick chart today. the point of this chart is to illustrate how zooming out even 30min can change your whole perspective on how the market is moving. left side 1h chart right side 1.5hr(90min) chart within the circled range (the breakout) you can see in the 1HR chart 3 red candles vs. the 1.5HR chart has no red candles. NONE! if your waiting for your candles to close before you freak out on a dip then on a 1.5hr chart you would have never seen a reason to close a long. if red candles scare you out of trades. always zoom out on the charts instead of freaking out and being impulsive. tip of the day...never trade based off candles smaller than 1HR. ***im not a professional ....i do this cuz i like to help other make money too!****
BITSTAMP:BTCUSDEducation
by ELM_Trading_NYC
2
BTC chart for 1/4/21 @ 9:50 EST showing possible trend linessame chart as before but cleaned up the trends that are no longer viable. we can see at bottom around the 27.8K level and now a nice rally to retrace the upside. ill be looking for a W pattern with a higher low developing on the 1H candles before i look to get back into a LONG. also keep in mind the long wick down on the 4am 1h candle is very bullish . lets see if the bulls can take control back or will the bears beat the price back down. who knows! side note .....price targets (PT) are measured from the highest wick to the lowest wick recently made. PT changes with where the breakout occurs within the pendant. tip of the day.... do not act until the charts have spoken. ****im not a professional. just sharing my thoughts so you can compare with yours. *** let me know what you think ... like and subscribe if you like the content. i do this for fun only.
BITSTAMP:BTCUSD
by ELM_Trading_NYC
EURJPY waiting for the sell setup triggerHello everyone, if you like the idea, do not forget to support with a like and follow. on DAILY: EURJPY is sitting around strong resistance in blue so we will be looking for sell setups on lower timeframes. on H4: EURJPY is forming a head and shoulders pattern. (not complete yet) so we are waiting for the right shoulder to form and then enter sell on the neckline break downward. Trigger: Waiting for a momentum candle close below the gray area/neckline to sell. and until the sell is activated, this one would be overall bullish and can still dive inside the blue zone. As price approaches our lower green support, we will be looking for buy setups. Good luck!
Short
by TheSignalyst
17
GBPUSD Sell Setup!Hello everyone, if you like the idea, do not forget to support with a like and follow. on DAILY: GBPUSD is sitting around strong resistance in green so we will be looking for sell setups on lower timeframes. on M30: GBPUSD is forming a wedge pattern in red so we are waiting for a new/third swing to form around it to consider it objective/valid. Trigger: Waiting for a momentum candle close below the gray area to sell. and until the sell is activated, this one would be overall bullish and can still dive inside the green zone (till 1.36500). As price approaches our lower blue support, we will be looking for buy setups. Good luck!
Short
by TheSignalyst
15