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Confirmation

Aussies heading into troubled zoneThere are no promises, guarantees or predictions in this. The Aussies have been flattening out at a top - it appears - at this time. There are only two directions for price - nothing new in that. What happens in situations like these is: 1 - either price collapses. 2 - it rockets north. You can imagine what bulls and bears would say to each of the above. Their inherent biases controls their minds. Biases predetermine - quite unconsciously - what logic will arrive at. Hence people get into 'predictions', then punch the air when price confirms their bias. Both the nature of confirmation bias and prevalence-induced concept change should be studied by all traders. Some say ' What's psychology got to do with this? ' I'm sorry for some. How does one control how wrong a bias may be? It's called a stoploss! Disclaimers : This is not advice or encouragement to trade securities. No predictions and no guarantees supplied or implied. Heavy losses can be expected. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, kindly sue yourself.
FX:AUS200Education
by Captain_Walker
Into the latticeI feel as though we have lost confidence in the 230's, which is a shame as it would have been super bullish to hold that valuation. alas, we must move forward despite the direction. Let's say we fall for a bit, what shall occur. Well as you can see, we have a strong lattice of long term post covid support meeting with previous descending resistance lines, each of which requiring confirmation (assuming we dont blow right through them in which case feck your confirmation) Considering the fact that for 2 dumps in a row (June 2nd and June 11th) we transcended the 230's, albeit very shortly, I am going to assume we wont spend much time within the 220's given how crypto usually performs. If we break 230's again, I would just write the 220's off and start your accumulation in the 210's. Set some low limits, maybe some "get-me-lucky's" that only get filled during huge dumps, because as we have seen before in crypto, momentum downwards sometimes just meas more momentum upwards. Now, if we hit the 200's that is when we will have to take further analysis. In my chart, I mention it not necessarily being bearish. This is true because of a couple factors, both psychological and fundamental. 200 is a lovely round number, and the human psyche gets drawn to it like a moth to a flame. It will be valued, and any time spent below it (within reason) will likely be nano-term. What will matter more at that point is how we bounce, because let me tell you: Any retrace to the 200 level will be eaten up quicker than you can say "stop loss". If you are shorting, I would set a trigger no higher than 235.45, however I am always hesitant with setting stops too early before I get a grasp on the strength. Sometimes we just float downwards lazily and the short wouldnt even be worth the stress. But I dont think we will trade 240's (in a healthy way) again until we have re-confirmed that <230 is off limits, which it may very well not be. Cheers lads
COINBASE:ETHUSD
by BingoMoney
1
triangle may not be finishedMay 10th and May 25th considered deviations. Clear support trying to get in order with the the uptrend. Deviations make triangle much more symmetrical. Breakout might occur here due to eth and ada having the time of their lives. Injecting a more positive vibe into the market conviction. that being said, I wouldnt be surprised to see a downwards movement towards 9k. This would lock in support, and would confirm that this is not a descending triangle after all. Besides, we all know know how much btc LOVES 9k.
COINBASE:BTCUSD
by BingoMoney
Double Top Break with Retest CONFIRMED! - Double top on H1 broke the valley low - H4 "double top" was strong rejection candles with long top wicks - hit previous structure level on the 4 hour chart - Moved back up to retest the valley support, now acting as resistance - Doji candle printed on both H1 and H4 at resistance - High volume bars on the most recent move down off our highs - RSI was heavily overbought and has since lost momentum - H1 RSI rolling over below 50% trend
Short
by TheCaffeinatedTrader
XAUUSD Waiting for confirmationHello traders! This is a chart to trade any symmetrical triangle. After the breakout to any side we will suddenly see huge buying or selling position, this huge pressure will change the direction to other side. According to my analysis i am expecting a breakdown and upmove to 1776. I have closed my previous buy position and waiting for confirmation. Hit the like button if you find it helpful and informative and follow to catch the waves correctly. Previous analysis
FX:XAUUSD
by Aadil1000x
5
Crucial Zones Testing In BankniftyLook at the bigger picture. On the chart itself Banknifty is stuck between a significant support and resistance zone. For all those who are waiting for going long on banknifty, a close above this level might decide the future. Also, if you look at RSI it is in the key support zone . If RSI trends upward after taking support at this level long positions can be initiated. On lower time frame if the ascending triangle breaks successfully then upward momentum will be confirmed. ( There might be chances of triangle breakout failure for short term as seen in USDINR) This setup might take a few weeks to occur or could never happen if the above zones break easily due to any reason. Wait for confirmations then initiate a long position in this scary bearish market only if you believe in your setup. This explanation is only for educational purpose and isn't any kind of recommendation. Don't take any action based on this explanation itself. Consider your financial advisor before taking any trades. Thanks for your time. Happy Trading
NSE:BANKNIFTYEducation
by Trader_Tech
4
XAU/USD H4 Long Entry Re-capI re-created a trade I executed on a demo account I've been using to test this idea. I've been working on this strategy and, more importantly, my patience for the past 6 months or so. I'm Wondering if anyone else uses something similar to this when looking for entry points & confirmation. I'll do my best to explain the thought process on why I entered long, because last Friday I made a post with a bearish prediction. The white trend lines are a bullish channel that started back in 2018. The red was drawn on the H4 from the high point in early March. There are 3 steps I use(d) to try and find the right entry. 1) Break above the trend line. This was a clean break above the trend line with a fairly strong candle close. Easily could have been an entry point, but the candle wick was too long for me to use this breakout as the sole confirmation. 2) Confirmation Zone. This is something I started using after entering on too many false breakouts. I created the top line of the zone by simply using the top of the previous higher high. The bottom line of the zone isn’t nearly as important. I typically will look to put it at a S/R line that has 2-3 pivot points on it. In this case, the $1630-$1645 range had many pivot points. 3) Strong bull candle broke above the confirmation zone and closed. The hard part here is having the patience to wait for the candle to close, and making sure it’s a strong candle with more body than wick. This was strong, and enough confirmation for me to enter. Entry) I didn’t have a Buy Stop in place, so I dropped down to a shorter time-frame to try finding the best entry point. After I entered, I set my S/L just under the Confirmation Zone. Note: I don’t typically start out with a set T/P. I will usually draw lines like I did on this and if they hit it, I’ll re-evaluate to see if I want to close out or not. I like to monitor it and manually adjust the S/L, or use a trailing stop. Each situation is different though. *Not financial advice*
FX_IDC:XAUUSDLong
by RedShieldGroup
This Is The Major Confluence-Factor In XRP I Was Looking For._______________________________________________________________________________________________________________________________________________________________________ Hello My Dear Traders Investors And Community, In my research regarding the third most popular cryptocurrency named ripple I found some exponentially important and worthwhile factors playing into the forecast I determine today regarding the next days and weeks. Fundamentally we are in the crash now and the fears of a big worldwide recession are going on, but it is also the fact that many countries are recovering slowly from the first shocks of the coronavirus fears and building financial and economical helping-systems to protect companies and the economy at all, that's why I am expecting a recovery and slow up-side potential which I already mentioned in past ideas of mine, I made an important subject about this on tipple explaining the middle to long term situation and the big picture contributing to me, I highly recommend to you to have a look into it, the analysis today will build a logical follow and coherent structure to the recent XRPUSD analysis: The important factor that Ripple made some heavy bearish moves to the downside and that it broke a 2.87 years long trend-line shouldn't be ignored as I already mentioned, these are very very bearish signs and I can't understand these many peoples who say that ripple will make 1000 + % in just a month, all over what we can say when we think logically about the situation now is that the cryptocurrency market is all over slowlier then before, the high volatility and the speed screwed back and we see more and more cryptocurrencies more than trend consolidating and then falling back to past structures. The problem now with ripple is that we have a decent structure above us which first should be taken out completely before taking a bull continuation to higher levels reasonable. Now! In my chart, you can see that ripple more over consolidated the last days and formed a triangle, you can see this upward sloping triangle marked with the blue trend-lines in the chart, this structure normally is a continuation set-up, similarly to a bear-flag, as 75 % of all of these structures confirm into the direction which they came from. That means when a trend goes downward the triangle or bear-flag forming out of the trend will highly possibly confirm in the direction it came from! On the other hand, there is a small percentage probability that it continues in the other direction, in this case, it will be a so-called "fake-bear-flag" or "fake-upward-sloping-triangle" which would break to the up-side in this formation you see in my chart! On the other hand, what underlines the regular breakdown is the major confluence zone which you can see marked in the chart! There are many confluence-factors in this zone coming together and forming an overall bearish shape! It is also interesting that XRPUSD is forming two bull-flags in the triangle, the first already broke to the up-side and the next will highly likely break also to the upside touching the major confluence zone in the end. A Possible Short trade is then a good opinion with a stop-loss above the triangle, I will look for a good entry at the confluence zone. On the other side, I would be cautious with an opening long-position here because the structure is more bearish than bullish! But as I already mentioned there is a percentage probability given that this structure confirms to the upside with a definite confirmation, then a long position will be appropriate when the major-trend line which you can see in the chart confirmed. In both cases now there has to be a confirmation of the trend. I will look for a good short entry when the confluence zone confirmed with a definite bearish move, ripple should be a good shot on the short-side now when the formation confirms bearish as the forecast tells me. _______________________________________________________________________________________________________________________________________________________________________ In this manner: "Obstacles don't have to stop you. If you run into a wall, don't turn around and give up. Figure out how to climb it, go through it, or work around it." Have a nice day my friends! I wish you all good trading profits in these times! For more insights feel free to support! Information provided is only educational and should not be used to take action in the markets. _______________________________________________________________________________________________________________________________________________________________________
BITSTAMP:XRPUSD
by VincePrince
24
XRPUSD - Forming Support and Possible Wedge-Breakout incoming ____________________________________________________________________________________________________________________________ Hello traders, investors and community. Lets have a look on the current situation going on with XRPUSD. We can see some good bullish signs at the 2-hour time-frame. ____________________________________________________________________________________________________________________________ XRPUSD shows us a good support level between 0.2 and 0.02 USD as it touched this level a second time now we can expect it as confirming a third time when toched again. There is also this huge descending wedge which you can see in my chart marked with the blue trend lines. If XRPUSD holds the current support level and forms some decent momentum we can expect a break-out of the wedge. The wedge break-out can be traded aggresively and moderat. An aggresive entry is immediate with stop-loss below the current lows, the moderate approach is to wait until the wedge confirmed. It is always a wise decision to wait until a pattern confirmed before entering a trade. In this manner i recommend the moderat approach here and wait until the wedge confirmed. ___________________________________________________________________________________________________________________________ Thanks for watching! Feel free to support my idea with a like and follow for more market insight! ____________________________________________________________________________________________________________________________
BITSTAMP:XRPUSDLong
by VincePrince
6