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Confirmation

GBPUSD, Bounced At Neckline, Determining Important Zones!Hello, Traders Investors And Community, welcome to this update-analysis about the price-action in GBPUSD, and therefore the resulting conclusion we can examine for the further sequence of price-action. As I pointed out in the past GBPUSD analysis the price formed an overall head and shoulders formation which confirms to the upside or downside, I also gave the conclusion that a break to the upside will be more in the spectrum of a likelihood because of some important factors, however, the bearish scenario was also given but now we have a good confirmation building the upside potential in GBPUSD. If you did not see the analysis already I recommend that you watch it to have a full depth-overview. When looking at the given information now we can gaze that GBPUSD has touched the neckline of the head and shoulder formation and formed a bullish hammer candle there which is a strong bullish reversal candle and can be watched in all time-periods. As you can see in my chart the price bounced already several times at the rising trend-line of the neckline to form it as a solid support level. Currently, we saw some good bullish continuation candles after the initial bounce of the neckline, overall it is possible that we will visit support-line of the neck-line a second time to confirm it, in all occasion we can expect that GBPUSD will go the way up to the targets you can see in my chart. A stable confirmation will be when we cross above the 1.24836 level, in this case, it is possible to open a long position here with a stop-loss below otherwise more aggressive traders can trade the formation with immediate entry and stop-loss below the bullish hammer candle, In the occasion to trade this current set up properly it will be a wise decision because of the risk-reward is good in this case and after the strong confirmation of the neck-line, the likelihood and possibility that we visit the targets increased dramatically. The first target is at 1.26373 which will be reached when we cross finally above the 1.24836 level and after that, we can count on the final target of the structure at 1.27558, you can see both targets in my chart. Thanks for watching, support for more market insight, and a good weekend, everybody! ;) Astonishment is the basis of reverence. In this manner: FAREWELL Information provided is for educational purposes only and should not be used to take action in the markets.
by VincePrince
15
USDJPY - Huge formation in progress - Look at the chart! Hello dear traders and community. Looking on the daily chart of USDJPY we see an interesting setup forming here. On my chart you can see the huge head and shoulders formation forming. It is a complex head and shoulders formation with two minor left shoulders already formed in the major left shoulder. Also it is inverted that means it can complete with a bullish trend to the upside. The pink trend lines are showing the origin of the left minor shoulders, in the right major shoulder it shows the potential origins of the two minor right shoulders (which are forming now). In the bottom of my chart you can see a major support level, where USDJPY already bounced 3 times now: The first time at the beginning of the uptrend showed in my chart on the left bottom, where USDJPY formed a bottom formation and moved to the upside with some healthy green candles. The second time at the head of the head and shoulder formation which is in progress. The third time at the first minor right shoulder It is highly possible that USDJPY will bounce in this area again when completing the head and shoulders formation Also there is an psychological support zone at 100 - 105, normally full numbers like 50,100,200,300 etc. have a high probability to form support or resistance in this price ranges. There are several ways to enter this possible long trade, the aggressive approach would be to open a LONG position as soon USDJPY hits the major demand zone, a more conservative approach would be to wait until the head and shoulders formation has confirmed. Thank you for watching! Of course this is only educational information and should not be used to buy or sell in the markets! Peace and love to everybody!
Long
by VincePrince
AAPL - Excellent LONG Opportunity you Can´t Miss______________________________________________________________________________________________________________________ Hello traders investors and community, I detected an excellent LONG set-up in APPLE I share with you completely free. Thank me later! ______________________________________________________________________________________________________________________ I see many short set-ups calling for downside, please dont be a fool.. After break-out shorts will be stopped out. ______________________________________________________________________________________________________________________ LONG Reason: Uptrend Technical: V-Bottom What to expect: Break-out and confirmation -> rising price Entry: 227 - 235 Target: 370 - 390 ______________________________________________________________________________________________________________________ This information is only educational. Thanks for giving support. Follow for more market insight. May all your trades going well! ______________________________________________________________________________________________________________________
NASDAQ:AAPLLong
by VincePrince
15
Netflix. Time to Chill.Today, Netflix's (NFLX) price plunged below the Head & Shoulders neckline, with a pronounced downward move. This breach substantially elevates the likelihood of an extended bearish phase, potentially materializing as a significant sell-off leading into the forthcoming fall season. Projections indicate a retracement towards the 0.5 Fib Extension level, where the price could test support at the mean price of $323.87. This mean price represents the average of the comprehensive bull run, which initiated from the May 2022 low of $162.73 and culminated at a peak of $485, the recent July 2023 top. However, the price could find support at the bottom parallel of the uptrend channel around $370 first before reaching the mean average price target. Moreover, the recent FOMC minutes revealed the Fed's continued hawkish view on inflation and the possibility of further rate hikes. We can also expect more fiscal tightening and an inflation resurgence to fuel the coming downtrends across most of the equities markets, especially big tech and crypto. This is particularly noteworthy as the economy could begin to contract due to overly tightened fiscal conditions, along with the looming threat of another Government shutdown in October. Additionally, credit usage, debt levels, and debt interest amounts are all increasing at a faster pace as we progress under these economic conditions.
NASDAQ:NFLXShort
by MinerChad
1
USD CAD - Demand in control, outlook to 1.40+G'day, Master Key for zones Red = Three Month Blue = Monthly Purple = weekly Pink = Consolidative box example (Daily) Orange = Daily Risk Warning Trading leveraged products such as Forex, commodities and CFDs, carries with it a high level of risk and so may not be suitable for every investor. Prior to trading the foreign exchange, commodity or CFD market, consider your investment objectives, level of experience and risk appetite. You should never risk more than you can afford to lose. If you fail to understand or are uncertain of the risks involved, please seek independent advice and remember to conduct due diligence as criteria varies to suit the individual. Below are some of the take aways from the video - please listen again incase any detail is missed. Daily chart Weekly Chart Monthly Do you enjoy the setups? Professional analyst with 7+ years experience in the capital markets Focus on technical output not fundamentals Focus on investing for long term positional moves Provide updates where necessary - with new updated ideas tracking the progress. If you like the idea, please leave a like or comment. To all the followers, thank you for your continued support. Thanks, LVPA MMXXIII
by LupaCapital
1,2,3 Confirmation PatternWhat does it consist of? It consists primarily of 3 candles, and the fourth one is where we will enter the operation. In a bearish scenario the High of 2nd candle must be higher than the high of the 1st candle. The high of the 3er candle must be below the high of the 2nd candle. The 4th candle must re test the point of origin of the 3er candle. How can you use it? It is extremely important to complement and use this with a strong idea of where the price is heading. To know where the price will move, we need to understand that it moves towards the most liquid areas. The most liquid areas can be the unfulfilled Daily, Weekly, or Monthly lows and highs. Where should you place the entry? You should wait till the 3er candle close and place the entry at the point of origin of the 3er candle. Where should you place the stop loss? The stop loss should be above the 3er candle. Important I use this technique in D,W and M timeframes. After establishing a bias I look for the pattern. After the 3er candle is complete I move to 1hr or 15minutes to find the point of origin of the 3er candle.Then, I place the order.
Education
by Wiiso
3
HOW-TO: Applying Profit Bands to the GKD trading system [Loxx]In this video I show how to use Profit Bands in conjuction with a Solo Confirmation Simple Backtest using the GKD Modularized Trading System. The purpose of this tutorial is show users how to see the entries/exits for the GKD-BT Backtest. Always make sure that the Backtest's volatility and volatility setttings match the Profit Bands volatility and volatility settings otherwise the entries/exits will not line up! █ Profit Bands What are Profit Bands? Profit Bands is a supplementary indicator to be used with Loxx's backtests and combination indicators that use volatility-based take profits and stop loss. This indicator includes two types of volatility: Average True Range and True Range Double. Additional volatility sources will be added in the future. The lines painted on the screen are multiples of ATR for Take Profits and Stoploss for Long/Short positions that you can change in the settings. 3 Take Profits and 1 Stoploss is supported. You can turn on/off each UI element. Position size is determined by calculating the size of an investment where you'd lose only X% of your balance if the Stoploss is hit. You can enter your total balance available to trade and the desired % risk you'd be willing to lose at SL. Typically this number is 1-2% of total balance per trade. Always remember to wait for bar close on a signal to and then peg this indicator to 1 bar backward to fix the price levels the then seed the exact levels you'll use for Take Profits and Stoploss. This indicator will match exactly the levels in other indicators in Loxx's scripts such as Kaleidoscope. You would overlay this script over any other script that uses volatility stops to see where to place your TPs and SL █ Giga Kaleidoscope Modularized Trading System What is Loxx's "Giga Kaleidoscope Modularized Trading System"? The Giga Kaleidoscope Modularized Trading System is a trading system built on the philosophy of the NNFX (No Nonsense Forex) algorithmic trading. What is an NNFX algorithmic trading strategy? The NNFX algorithm is built on the principles of trend, momentum, and volatility. There are six core components in the NNFX trading algorithm: 1. Volatility - price volatility; e.g., Average True Range, True Range Double, Close-to-Close, etc. 2. Baseline - a moving average to identify price trend 3. Confirmation 1 - a technical indicator used to identify trends 4. Confirmation 2 - a technical indicator used to identify trends 5. Continuation - a technical indicator used to identify trends 6. Volatility/Volume - a technical indicator used to identify volatility/volume breakouts/breakdown 7. Exit - a technical indicator used to determine when a trend is exhausted How does Loxx's GKD (Giga Kaleidoscope Modularized Trading System) implement the NNFX algorithm outlined above? Loxx's GKD v1.0 system has five types of modules (indicators/strategies). These modules are: 1. GKD-BT - Backtesting module (Volatility, Number 1 in the NNFX algorithm) 2. GKD-B - Baseline module (Baseline and Volatility/Volume, Numbers 1 and 2 in the NNFX algorithm) 3. GKD-C - Confirmation 1/2 and Continuation module (Confirmation 1/2 and Continuation, Numbers 3, 4, and 5 in the NNFX algorithm) 4. GKD-V - Volatility/Volume module (Confirmation 1/2, Number 6 in the NNFX algorithm) 5. GKD-E - Exit module (Exit, Number 7 in the NNFX algorithm) (additional module types will added in future releases) Each module interacts with every module by passing data between modules. Data is passed between each module as described below: GKD-B => GKD-V => GKD-C(1) => GKD-C(2) => GKD-C(Continuation) => GKD-E => GKD-BT That is, the Baseline indicator passes its data to Volatility/Volume. The Volatility/Volume indicator passes its values to the Confirmation 1 indicator. The Confirmation 1 indicator passes its values to the Confirmation 2 indicator. The Confirmation 2 indicator passes its values to the Continuation indicator. The Continuation indicator passes its values to the Exit indicator, and finally, the Exit indicator passes its values to the Backtest strategy. This chaining of indicators requires that each module conform to Loxx's GKD protocol, therefore allowing for the testing of every possible combination of technical indicators that make up the six components of the NNFX algorithm. What does the application of the GKD trading system look like? Example trading system: Backtest: Strategy with 1-3 take profits, trailing stop loss, multiple types of PnL volatility, and 2 backtesting styles as shown in the video above Baseline: Hull Moving Average Volatility/Volume: Waddah Attar Confirmation 1: DEMA MACD as shown in the video above Confirmation 2: Williams Percent Range Continuation: Fisher Transform Exit: Rex Oscillator Each GKD indicator is denoted with a module identifier of either: GKD-BT, GKD-B, GKD-C, GKD-V, or GKD-E. This allows traders to understand to which module each indicator belongs and where each indicator fits into the GKD protocol chain. Giga Kaleidoscope Modularized Trading System Signals (based on the NNFX algorithm) Standard Entry 1. GKD-C Confirmation 1 Signal 2. GKD-B Baseline agrees 3. Price is within a range of 0.2x Volatility and 1.0x Volatility of the Goldie Locks Mean 4. GKD-C Confirmation 2 agrees 5. GKD-V Volatility/Volume agrees Baseline Entry 1. GKD-B Baseline signal 2. GKD-C Confirmation 1 agrees 3. Price is within a range of 0.2x Volatility and 1.0x Volatility of the Goldie Locks Mean 4. GKD-C Confirmation 2 agrees 5. GKD-V Volatility/Volume agrees 6. GKD-C Confirmation 1 signal was less than 7 candles prior Continuation Entry 1. Standard Entry, Baseline Entry, or Pullback; entry triggered previously 2. GKD-B Baseline hasn't crossed since entry signal trigger 3. GKD-C Confirmation Continuation Indicator signals 4. GKD-C Confirmation 1 agrees 5. GKD-B Baseline agrees 6. GKD-C Confirmation 2 agrees 1-Candle Rule Standard Entry 1. GKD-C Confirmation 1 signal 2. GKD-B Baseline agrees 3. Price is within a range of 0.2x Volatility and 1.0x Volatility of the Goldie Locks Mean Next Candle: 1. Price retraced (Long: close < close or Short: close > close ) 2. GKD-B Baseline agrees 3. GKD-C Confirmation 1 agrees 4. GKD-C Confirmation 2 agrees 5. GKD-V Volatility/Volume agrees 1-Candle Rule Baseline Entry 1. GKD-B Baseline signal 2. GKD-C Confirmation 1 agrees 3. Price is within a range of 0.2x Volatility and 1.0x Volatility of the Goldie Locks Mean 4. GKD-C Confirmation 1 signal was less than 7 candles prior Next Candle: 1. Price retraced (Long: close < close or Short: close > close ) 2. GKD-B Baseline agrees 3. GKD-C Confirmation 1 agrees 4. GKD-C Confirmation 2 agrees 5. GKD-V Volatility/Volume Agrees PullBack Entry 1. GKD-B Baseline signal 2. GKD-C Confirmation 1 agrees 3. Price is beyond 1.0x Volatility of Baseline Next Candle: 1. Price is within a range of 0.2x Volatility and 1.0x Volatility of the Goldie Locks Mean 3. GKD-C Confirmation 1 agrees 4. GKD-C Confirmation 2 agrees 5. GKD-V Volatility/Volume Agrees
Education
by loxx
2
BBY Double bottom WeeklyBBY is gearing up for a large move. One direction or another the move BBY is cooking will be nice and quick, with follow-through hopefully into the next week. On the left we see that BBY has completed a double bottom it's almost textbook. I suspect we will consolidate into tomorrow afternoon on BBY. The daily chart seems to confirm this with a similar double bottom. We have crossed the daily 200ema (Yellow Line). On the weekly chart (left) we see that BBY has a higher volume this week than last. Our retest of the weekly 8 ema and bounce off that level are a very bullish indicators. Looking at the daily chart (right) We see the break above the daily 200ema (yellow line) We see this level tested and confirmed several times. With a final bounce towards resistance @87. As stated above I think BBY will consolidate in this range for the coming days and hopefully with the cooperation of the SPY break out and up. This is invalidated with a break below the $78.60 area I believe the pattern is confirmed with a move above 86.46. The move has to be on high volume and with conviction. Until then I think we stay in the 78.60-86.46 range. (this is a broad range) Intraday targets are in this range, swing targets are outside of these ranges.
NYSE:BBYLong
by Battle-Trading
Confirmation entry 101Hello traders - In this example, we will talk about confirmation entry. - What is confirmation entry? - Confirmation entry is shown in the picture above, and in this situation, we chose a safer order block for our entry. - Below, we will break down the entire PA in detail and explain this example better. 1) We see that the momentum is present, the price has left an imbalance, and we have a nice candle close. 2) The price creates liquidity and returns to the retest, but in the end the price does not reach our order block, and here we have a missed entry. 3) The price impulsively broke through the low again, leaving the imbalance behind, and we see a nice candle close. 4) This second impulse can easily be a fakeout, so it is safer to wait for entry on the first order block 5) The price makes more liquidity that needs to be picked up 6) In the end, the price has taken out all the other traders who had open positions here, and our confirmation entry comes from where the price impulsively continues bearish. -When you trade, you have to learn to read the PA in small details in order to better understand the PA and the language of the market. - If this example helped you to better understand PA and confirmation entry, leave a like, and if you have any questions, you can ask below in the comments.
Education
by hybridtradingfx
1