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GOLD Short with 3 Confluences (Zero Indicators)Confluence: 1. Weekly Chart Trendline breakout. 2. Price is trending bearish with lower highs and new Lows being created. 3: Key low has been broken in the region of 1787 and 1765. Entry: We will be waiting for a lower high to get formed before looking for any entries on Gold. We are expecting some dollar weakness into the start of this week. With that being said, we are expecting a pull back before we see price settle towards the end of the week and then we should see a push to the downside. This will as well give us time to reassess the risk reward of the trade and to determine whether or not the setup is still valid.
OANDA:XAUUSDShort
by NDOBObanks
4
Staley Swing Trading SetupSwing trading is a style of trading that attempts to capture short- to medium-term gains in a stock (or any financial instrument) over a period of a few days to several weeks. Swing traders primarily use technical analysis to look for trading opportunities. Key levels (horizontal support and resistance) are pillars of technical analysis because these are areas where a lot of trading action happens! A resistance level represents a price point that an asset has had trouble exceeding in the time period being considered. Resistance can visualized using different technical indicators rather than simply drawing a line connecting highs. How do you identify trends? The best way to identify trends, in my experience, is to use simple price action. Higher highs and higher lows signal an uptrend, while lower highs and lower lows represent a downtrend. These basic analytical skills synergize very well together, and is very beginner friendly. Sometimes with Trading we tend to overthink, and analyze. I have learned less is more, and I hope this setup benefits someone out there.
by sovereign.rein
USDCHF Long with 2 confluences (Zero Indicators)Confluences: 1: Weekly chart trendline breakout. 2. Trend is bullish with price making Higher Lows and New Highs. Entry: Price is over extended at this point in time. This creates the risk of price pulling back to retest the previous high or the trendline while at the same time creating new higher low. This when we can start looking for entries and reassess the risk reward ratio for this particular trade. Will be looking to take entries later next week if the setup is till valid. Will be looking to holf this position for 3-4 week or until target is reached (Which ever comes first)
Long
by NDOBObanks
USDJPY Long with 2 confluences (Zero Indicators)Confluences: 1: Weekly Chart trendline breakout 2: Trend is bullish as price seems to be making Higher Lows and New Highs on the Weekly Time Frame Entry: We will be looking to enter this trade towards the middle of next week. As we can see by looking at the weekly chart, this is a fresh breakout. There is the risk that price may pull back towards the low of the current week, retest the trendline before continuing bullish. Lets see how the first half of next week plays out. This will give us a chance to reassess the trade as well as the risk reward ratio. Note that the pair is extremely extended so its best to wait for a Higher Low to form before we can start looking for entries.
Long
by NDOBObanks
EURUSD Short with 3 Listed Confluences (Naked Charts)Confluence: 1. Weekly Chart Trendline breakout and close. 2. Weekly Chart Double Top pattern formation (Not textbook style double top pattern). Price seems to have failed to create a new high. 3. Trend is bearish as price is making Lower Highs and New Lows. Entry: The way the market is positioned on the weekly chart shows this is a fresh breakout. 70-80% of the time, traders who enter straight after a breakout pattern occurs are likely to get stopped out. We will be looking to take the trade towards the middle of next week (Wednesday) as price might push back up to retest the trendline so it is important to wait and see how the price moves after the breakout. This will also give us a chance to reassess the risk reward ratio of the trade. Will be holding this trade between 3 - 4 week or until take profit is reached (Whichever comes first).
Short
by NDOBObanks
1
EURUSD Short with 3 Listed Confluences (Naked Chart)Confluence: 1: Price Broke out and closed below previous weeks low on the daily time frame. 2: Trendline breakout out and close on daily time frame. 3: Price failed to break a significant Lower high on the daily time frame. creating double top pattern. Entry: Wait for price to test the area around the high of the current week which should take place later in the week, creating a lower high before continuing to the target of 1.18815 early next week
Short
by NDOBObanks
2
HAVING A CLEAN CHART IS MOST IMPORTANT!!!!!!!!!!I remember starting this forex things thinking having all this tools and messy charts would help better my trading which one of the most brainwashing things here on trading view it does not mean if atrader has all the indicators in the world on their chart with trendlines and support and resistance makes their trade go in the right way the key to succesful trading is having a clean chart you can absorb and look at and understand it also mastering a few currency pairs at the bback of your head know you makor and key levels!!!! a clean chart learn how to read price action with your eyes it will take time but it will enhance your trading career
Education
by Trigga_lukolo