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Confluence

Confluence II: Long Live Lord ConfluenceReferring to the previous bit, this 4h chart shows some intra-timeframe confluence with the aforementioned 1h chart. Using multiple timeframes to validate your edge is essential to having sound trades, and trades that you can learn from. Without having a reliable standard to judge each trade by, how can you contemplate your wins and losses with any use? As a trader one evolves psychologically and strategically. Things are often being tweaked as the market is always tweaking the fuck out, but having a stone cold setup across multiple timeframes will really help sus out the effectiveness of any given approach over a sufficient amount of trades to avoid strategically 'walking in circles'. Anything can happen, and while confluence in any form is often 'magnetic', it's important to have eyes wide open to the bigger picture as well. If you're getting tunnel vision you're already in the emotional danger zone.
by OhAndArr
ConfluenceThis is an untouched glance at what I look at from time to time, and today on the darkest day of the year I'm going to talk about confluence. Confluence is just when a series of factors align, and in the TA world it's just when your personal suite of indicators and signals aligns with your strategy. In this 1h timeframe slice of the 'blue chip' of the crypto markets we can see that price has broken a trend line, an Ichi structure, and the relative Bollinger basis. The red line below marks an S/R flip from the previous dump, which has confluence with the Fibonacci retracement AND the relative Kumo. It's not exact, but nothing is. Anything can happen, confluence is just something to utilize to bolster strategic edges and generally discern R with a sharper eye.
Education
by OhAndArr
BTCUSD 2018 SpeculationMy Bitcoin Price Target for EOY 2018 = 4750 Lots of retail traders BOUGHT when price was consolidating at the 6,000 area at the key and obvious level of "support" Once price broke down and people started to see -10%... -20%... -40%+ losses on their portfolio, now we have reached an area where so many retail traders are in the mindset of "I have LOST this much dollar value on my position... I need to close out of it because: a) We are going into a new tax year b) Christmas/Holiday is coming up --> need cash flow c) Retail psychology being exploited... buy high, sell low and take losses It would make sense to see everyone who has been getting out of the market now at these lower prices be taken advantage of since there are large amounts of liquidity available for professionals and institutions to now take short term positions. I still believe we will eventually see bitcoin dip down to the structure near 2750, but in the SHORT TERM my money is on seeing Bitcoin go higher towards 4750 as we head into the new year. Trading involves risk, im not a financial advisor and anything that you do with your money is at your OWN risk / discretion. Practice risk management, demo trade until you're confident and here's to your success in trading my friends.
COINBASE:BTCUSD
by ZacharyHogan
EURJPY H4 - BEARISH CONTINUATION TRADE SETUPAs you can see from the chart price is in a clear bearish trend, and our goal is to look for a short entry. Considering that price has made an ABC correction to an important confluence zone which comprises of resistance level, 61.8 Fib ratio, the mean value and 3rd rejection of descending trendline. We will able to go short on this pair after a clear break of the counter trend line. Wish you best trading week ahead. Follow me on Instagram: @TheKissForex
Short
by Veejahbee
Finding The Bottom? On this chart you will see a couple things. Moving average displayed in a transparent red and green with dotted lines. A form of Stoch on the top and triple RSI on the bottom. I have 4 support lines charted out to watch for currently. The whales will defend that 5750 area and i wouldnt worry to much unless its a straight punch through. There are 3 confluence lines above and that is basically a fib retracement drawn from the last 3 highs where fib lines are right on each other. Those will serve as resistance areas prices. I will keep diving into this with updates and keep yall updated! Have a great weekend, make sure you stay disciplined and be careful!
COINBASE:BTCUSD
by 2Legit
2
EURCAD SHORT Scenario.I don't normally look at this pair, But Papa Smurf Sent this trade idea Through Swipe Trades app, Piqued my interest. I have come to the same conclusion that this is becoming a falling pair< And I'll explain my synopsis. Fibonacci Levels are Met at 61.8% - Nice structure behind it, Doesn't look like there, will hardly be any resistance to the fact that,,, It also kissed the trendline, Maybe a little early but I have A sentient sense that now is a good time to enter into the Short position. Thank you Guys! #Ozark... P.S. Appreciate Rodneys work!
Short
by TheOzarkTrader
(2D) The eventual right shoulder $eurusdOANDA:EURUSD Now threatening previous structure resistance, it's also the bullish alt bat pattern default first target, the 38% fib retracement. The inverted head and shoulders default projection will put the price at previous structure support forged last March 1st, positioned at 1.2164. The bearish deep crab pattern positioned at 161.8% extension on hold at 1.21, at confluence with the golden ratio at 61.8% fib retracement and also at left shoulder highs from September 8th 2017 to form the so expected and eventual right shoulder. Trading below the head and shoulders neck zone will increase the probability to trade lower, and trading below the inverted shoulders, as previous support, will also increase the probability to retest the previous support, the bottom, or even lower. Safe Trades;
Long
by Andre_Cardoso
USDJPY Bat Harmonic Pattern Near completion - SHORTUSDJPY pair has been on a downtrend on Daily timeframe with Lower Highs (LH) and Lower Lows (LL) forming. The pair is in a valid downtrend on H4 timeframe as well making LHs and LLs and we see clear rejection at point A and C of Harmonic pattern validating downtrend line. Recently price formed a LH at the 0.618 Fibonacci retracement which is a strong reversal point. Expect price to complete Bat Harmonic pattern by the end of this coming week. Price can potentially retrace to 0.786 Fibonacci and reject on downtrend line before meeting expected Take Profit (TP) line, however last couple candles show signs of severe bullish exhaustion at key 0.618 Fibonacci reversal level. 2:1 reward to risk ratio chasing 100 pips. Please Like and Share post if you would like to see more of my analyses
Short
by Alex4xnco