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Mr. Elliott 😍 BTC USD Whole Cycle.I'm sorry about my changing directions up n down being confused all the time.. I've worked hard on this one and read every single candle from the beginning of this entire cycle and this is the result.. Moon Boys! You're going beyond that.. Feel free to share and thanks to haters it couldn't have been done without your criticism specially thanks to my soul brothers team. Not a trading advice do your own ta thanks. I change my bias to up only for the life time PERIOD.
BITSTAMP:BTCUSDLong
by alibadshah88
1
How To Set Trading Goals!Hey Traders, Setting trading goals is always a fun discussion and something I actually really enjoy talking about. It is possibly one of the most simple tasks with getting started in investing or day trading, yet it is a task that so many get wrong. It's like starting a Sprint race, only you're starting the race facing the other direction. So, today we're going to dive into how to set goals, what they should look like and how we can start getting you running on that race, or even if you started the race, to give you that little speed boost so you can get back on track be sprinting for that finish line, which is where you want to be. It is very common, especially with beginners in trading, that when asked what are their trading goals, they're going to leave you with some kind of percentage or dollar amount and what they're trying to achieve per week or per month. It's easy and it's their aspirations is why they are in the game. They want to make X amount of money and they've been able to divide it down to figure out what they need to make each day in order to reach that goal. Now, most people will sit back and judge that goal on whether or not they think it's achievable and then they'll say well done and give the trader a pat on the back. Only what that person is done by telling this trader that it is good feedback is re firmed that there facing the wrong way at the start of the race and telling him to still Sprint that direction. We trade an unpredictable market. That means no matter who you are or where you are, unless you have some kind of insider information, you have no idea which way a stock, currency or any type of asset is going to move. We base our decisions off of probability. We play on whether or not we have an edge over the market and as long as we win enough we will make profit in the long term and that is how trading works. What that means is we are never sure on how much money we will make or whether or not we will make money. Which means it is unreliable to set money based goals because we have no idea what the market is going to deliver for us. We can have expectations over the long term, but short term. As long as we are trading true to our strategy, it is honestly up to the market whether or not we take home profit or whether we cop losses. Now we understand this because it's trading, right? We got into this market knowing that. So why do we attempt to set money related goals when we know it's just unrealistic and really hard to achieve such consistency when you're looking at short term goals? Baffling right? Now, for some of you may just woke up to this fact, "oh yeah, that is very unrealistic." For others, you may have already known this. Either way, what we're going to do is dive into where you should be setting your goals and what should they look like. My favorite goal to set and to see other people set is consistency within myself. It's to track your own decisions, marking your own movements. When actually trading, if you can become consistent within yourself, you will see consistency in your results, because you'll be able to trade that strategy without having to worry about your own decisions or emotions affecting your decisions. So, what I always did is obviously have a trading plan, have this trading plan and have set guidelines in what you have to do. Post trading as well. When it comes to filling out worksheets, maybe Excel spreadsheets you're trading, log your data, fill it all out. Get yourself a spare calendar, put it on your wall and every day that you do everything to your plan, win or loss on the charts, everything you were supposed to according your strategy, your plan, and filling out all of your Excel spreadsheets, give yourself star. Then every single trading day you get a little star on that calendar and your goals should be set around that. If you find you're being consistent within yourself and consistent in your decision making, then you will be able to determine whether or not your strategy is good or bad, and you'll be able to achieve consistent results long term. Do not base your goals on dollar figures base your goals off of performance. It is the only thing you can actually control. Stop playing around with the idea of setting goals outside of the market or outside of your results. Yes, it is fun to set dollar amount goals. Yes, it is fun to Daydream, but you get stuck in that Daydream Cloud and there may be times where you have a perfectly good trading strategy. You're able to trade it perfectly as well, but you're not hitting your goals. And the reason that might be is because your strategy may not be able to hit those dollar value goals even on perfect days. It happens. So set goals on what you can control, not on what you want the market to deliver. How did you go about setting your goals? How do you do it now? Let me know in the comments. I hope you enjoyed this little post and I'll see you next time. -Jordon Mellor
SP:SPXEducation
by TradeThePool
4
NVDA NEW ALL TIME HIGHComplete analysis. 322,62 USD +10,12 (3,24%) Tehnical : 1. We are in a very sharp uptrend, which indicates that buyers or bulls are in control. 2. We do not have any bigger pullback. For a healthy trend we need pullbacks, they are needed. 3. When we do not have any pullbacks in uptrendm we say trend is extended, and has a possibility of a big pullback or even a reversal. 4. We crossed the resistance on very low volume - i know we are at the beginning of a new week, but that is not important that much, for a successful breakout we need a big volume, period. We do not have big volume on weekly chart. We have a big volume on daily chart, which is good and possibility of a fake breakout is smaller. 5. Today we are up 3.24% which is a good indicator. 6. On hourly chart we are already reversing ! - possibility of a retest is bigger - do not enter yet. 7. On hourly chart we broke With a huge volume. 8. Wait for a retest, if we fail a retest do not try to enter, if we bounce back with confidence, consider enering stock. ( 317.30 ) 9. It could happen that we break the support line, and consolidate below or above this line. In this case wait for a clear direction of a trend with a synch volume. 10. On 4 hourly chart we are too extended, so retest or a pullback will occur. 11. Expect a reversal also, when we make a new high we are in a very vulnerable position, because we can create double top, if we do not have enough buying support we can only pray. 12. Consider having the middle of the candle that breakout as a support area. ( i teach that in my program ) When we have big extended candles, we have a psyhological support at the middle of that big candle. Fundamental : ( today ) Open- 312,30 High- 324,50 Low- 311,15 Mkt cap- 197,60B P/E ratio- 71,31 Div yield- 0,20% Prev close- 312,50 52-wk high- 324,50 52-wk low- 132,60 Nvidia Stock Is A BUY However, the mega deal remains on track for now. Nvidia is a leader in the fabless chip group, which is regaining momentum as industry headwinds ease and the China trade war eases. But some analysts suggest the coronavirus risk could chill the electronics end market through 2020. (USD) Jan 2020 Y/Y Revenue- 3.1B 40.82% + Net income- 951M 68.02% + Diluted EPS- 1.53 66.3% + Net profit margin- 30.63% 19.32% + Operating income- 990M 236.73% + Net change in cash- 1.13B 1754.1% + Cash on hand 10.9B- 1293.35% + Cost of revenue 1.09B- 9.22% + Street analysts are Bullish on NVDA, while Seeking Alpha authors are Neutral. The stock has a Quant Rating of Neutral. The firm's Ranvindra Gill and team raised its price target to $360, implying 12.7% further upside; the company's shares rose 47% since Needham's last upgrade and "have blown past" the prior price target, they say. I DO NOT recommend taking any of my trades. This analysis is only for entertainment only and i am not a financial advisor. If you like this and most importantly find it useful, please show support by liking this. If you have any questions, feel free to ask. Rene Pungartnik +BlackStock Ljubljana.
NASDAQ:NVDA
by UnknownUnicorn7025460
2
Classic ABCD Pattern Complete On 4hr TF EURUSD!This pattern is complete. however our minimum target should be the 38.2 swing retracement for this type 1 harmonic reaction trade. in this case the RR is not in our favor at the moment. For me its best to wait for this pair to retrace slightly until the RR becomes at least 1:1. Currently its around 0.75 which is never good and not in our favor. For those who wish to take this trade please do it at your own risk! meanwhile if the criteria meets i will execute the trade and update below if anything. Meanwhile we have The USDJPY short trade running as well which has moderate correlation to this EURUSD 4hr timeframe and therefore taking that into consideration i will decide if i want to take this trade or not. Nevertheless its a good pattern. cheers and happy trading
Short
by FX618Analysis
BTCUSD: Bitcoin Reverse Head and Shoulders Trying to Complete 10:00 gmt 05:00est Saturday Bitcoin Bitmex Chart Update After holding up overnight Bitcoin began to break higher above 7450 at 06:00 am in Europe triggering the next long to the 7624-7735 range with a high so far at 7681 on Bitmex. In doing so Bitcoin is defying the bears as it tries to complete the RHS pattern we've been watching develop over the last few days of trading. To do this Bitcoin has to find buyers enough to break above the 7735 level on Bitmex and the other feeds we cover to trigger the next long or add from here to 7948 initially and then to the minimum upside target created by the RHS at 8157. Returning to the downside, although this RHS pattern looks 'real' it hasn't completed yet and can't do without fresh buying power to push it through the 7735 level. It can stooge around for some time here making up its mind. Despite renewed optimism for the weekend ahead it can still fail and end in disappointment if we don't see that break above 7735 materialise later today. It's Ok for price to come back to the 7641 and then retest the 7600 main neck-line again but it should hold up from here if it's to stay positive from here. Any subsequent failure to hold 7600 during the course of today would be the first clue that the RHS is failing due to lack of interest - it should then start to fall away further to 7500-7448 range again at first and attempt to rally again from there. More as the day develops...
BITMEX:XBT
by sumastardon
12
BTCUSD, 5th Wave not completed yet!My EW count seems to differ of opinion and that the cycle is not completed. Wave 3 must extend to at least 1.618 which only the last low had done. In addition we need divergence between wave 3 and 5. There is none, there will only be once the new low had been completed. What is happening here right now is that we are going to make a flag for the final push down or just a deeper up correction (fake out) to complete the 4th wave before the final push down. For the 5th wave to be valid it must break the low of the 4th and some therefore $5k area is still on the cards, this cycle is not completed so dont get too excited yet, only once we break the last last can we even consider the cycle completed.
BITSTAMP:BTCUSDShort
by joe2411
2