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Confluencetrading

JNUG- Gold is Going Higher ( LONG)Gold is rising and so also JNUG the triple-leveraged junior miner ETF which has components of miners that have the most to benefit from rising. On the daily chart, price dropped from a winter pivot high with a head and shoulders pattern into a trend down with a bounce off the lows in early March followed by a YTD pivot high in mid April followed by a trend down into the July 4th holiday where the reversal from the low into the current price movement is supported by the MTF RSI indicator showing both the low and high TF RSIs crossing the 50 level. The zero-lag MACD shows the histogram going negative to positive simultaneously with the K /D lines crossing from underneath and beginning to rise. Importantly the Lroentzian machine learning AI indicator using a variety of indicators and factors printed a buy signal earlier this same trading day. I will go long in a swing trade expectant of great profit. I can see that price is approaching the long term mean VWAP and has crossed over the POC line of the lower high volume area. The target of 43.2 is the POC line of the upper high volume area confluent with the first standard deviation above that mean VWAP and also the neckline of the H & S this past winter. The analysis is strong from the confluences and so expectant of 15-20% profit.
AMEX:JNUGLong
by AwesomeAvani
Aggressive Buying🔍 Current Situation: No favourable buying opportunity on GBPUSD, but counter-trend trading possibilities exist. 🔴 Retest of Double Top: Watch for a retest of the double top pattern completing at 1.2745 on the 4-hourly chart. Traders eyeing a reversal will be attracted. #DoubleTopPattern 🦈 Bearish Shark Pattern: Keep an eye on the Bearish Shark Pattern completing at 1.2743. Short-savvy traders may join in. #SharkPattern 💥 Market Reaction: As two trader groups converge at 1.2745, expect heightened volatility and rapid movements. Stay prepared! #VolatilityAlert 📊 Trade Strategy: Exercise caution with counter-trend trades. Set conservative targets and manage risk effectively. Scale in wisely. #RiskManagement 👀 Stay Vigilant: Continuously monitor price action and adapt your approach as the market unfolds. Protect your capital! #StayAlert
Short
by RaynLim
Navigating the Golden Realm❣️"Unveiling Secrets of the Gold Market for Traders" Welcome to the captivating world of the gold market, where you as (new) trader embark on a metaphorical journey filled with price movements , trends , and profitable opportunities . In this comprehensive guide , i will delve into the intricacies of trading gold, empowered with knowledge that will enhance trading strategies. From deciphering patterns to understanding correlations , i will unlock the secrets of the golden realm, equiped with the confidence to make informed decisions. So fasten your seatbelts and get ready to navigate through the twists and turns of this enchanting market. Range Trading - The Breakfast Feast Picture yourself at a lavish breakfast buffet, where a wide array of options tempts your taste buds. Similarly, range trading in the gold market offers a delectable spread of trading opportunities. By identifying key support and resistance levels , you can effectively navigate within a defined price range. Just as you would choose from a buffet, traders can enter buy positions near support and sell positions near resistance. Deciphering Trends - The Path to Success In the golden realm, trends serve as beacons of guidance for traders. Analyzing price movements over time helps uncover valuable insights into the direction of the market. By identifying uptrends, downtrends, or sideways trends , strategies can be aligned accordingly. Utilizing tools like moving averages and trend lines, may create a clearer picture of the market's path, allowing you to ride the waves of success. Breakouts - Seizing the Golden Moments Just as a phoenix rises from the ashes, breakouts in the gold market signify the birth of new opportunities. Breakouts occur when the price breaches a significant resistance or support level, often indicating a shift in market sentiment. Trades will be positioned to take advantage of these golden moments by entering in the direction of the breakout. However, it is crucial to denote confluences and employ proper risk management techniques or wait for confirmation before diving into the fray. Correlations - Unveiling Hidden Connections The gold market is not an isolated realm; it is intricately connected to other financial markets. Understanding correlations between gold and other assets can provide valuable insights. For instance, a negative correlation with the U.S. dollar may indicate that a weaker dollar could lead to increased gold prices. By monitoring these relationships and recognizing their impact, you can make more informed decisions and maximize profit potential. Retesting - A Second Chance In the golden realm, opportunities often come knocking twice. Retesting occurs when a price level that was previously broken acts as a new support or resistance. Traders can capitalize on retests by entering positions in the direction of the original breakout. This phenomenon can provide a second chance to those who missed the initial move or wish to reinforce their existing positions. By identifying and evaluating retesting scenarios, you will enhance your trading strategy and seize these hidden but well-known opportunities. ☆ As we conclude this journey through the golden realm, you could now posses a deeper understanding of the gold market's intricacies. By embracing range trading , deciphering trends , seizing breakout moments , unraveling correlations , and recognizing retesting opportunities , you can navigate this enchanting market with confidence. Armed with technical indicators, pattern analysis, and an awareness of session transitions, you will unlock the potential for profitable opportunities. So, fellow aspiring traders, step into the foreign exchange golden realm armed with knowledge and embark on your path to success, b e ready to make informed decisions and claim your share of the golden treasures. HappyTrading 🤠 J
OANDA:XAUUSDEducation
by ATU_TAD
2
✔️Confluence Trading📍What is “confluence trading”? “Confluence trading” is when you combine more than one trading technique or analysis to increase your odds of a winning trade. You use multiple trading indicators that all give the same “reading”, as a way to confirm the validity of a potential buy or sell signal. Confluence refers to any circumstance where you see multiple trade signals lining up on your charts and telling you to take a trade. Here are some indicators, chart patterns and candlestick patterns you can use for confirmation of your trade. 🔹Indicators Moving Average (MA) Relative Strength Index (RSI) Bollinger Bands Fibonacci retracement Stochastic Oscillator MACD Average Directional Index (ADX) Ichimoku Kinko Hyo Parabolic SAR Williams %R 🔹Chart Patterns Head and Shoulders Double Top and Double Bottom Triple Top and Triple Bottom Flag and Pennant Cup and Handle Wedge Rectangle Symmetrical Triangle Ascending Triangle Descending Triangle 🔹Candlestick patterns Doji Hammer Hanging Man Shooting Star Inverted Hammer Bullish Engulfing Pattern Bearish Engulfing Pattern Piercing Pattern Dark Cloud Cover Morning Star and Evening Star 👤 @AlgoBuddy 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work, please like, comment and follow ❤️
Education
by QuantVue
6
ROKU setting up a SHORT TRADE ROKU double topped on November 14 and December 2 and then dropped in a downtrend until 12/28 and reversed. The mid Fib levels of the retracement a drawn onto the chart are being approached. I look for ROKU to bounce down off the Fib Level at 52. 2 and drop to approach the SMA 200 ( Red Line) after first crossing under the SMA 100 ( Blue Line ) and then to the POC line of the volume profile where buyers should take over and support price. Overall three targets ( SMA 100, SMA200, POC) and a three tier take profit scheme for a very conservative trade.
NASDAQ:ROKUShort
by AwesomeAvani
Persiste Price PredictionBest Confluence Setup For Trading Perfect Setup For Intraday & BTST It just took a bounce from 50% fib level in daily time frame, In 15m it formed a W pattern and broke out of it. We have a resistance at 4120.50 if we get a 5m candle closing above this we can take a long trade in the first half. There is 200 EMA & Pivot as well around 4120.50 so watch out this level, As per the OI we have 4100 as resistance. Buy at or above 4121 Comment if you have any question or query. Happy Trading !
NSE:PERSISTENTLong
by StallinTDR
1
BNBUSDT | Wave Projection | Short Term Retrace - Bull Look +60%Price action and chart pattern trading: > A possible CUP & HANDLE pattern with a short term 2-wave retracement to the next strong support area of confluence where SMA20 X SMA200 golden crossed and volume profile point of control key level. > Entry @ pullback retracement SMA200 zone and lower uptrend channel support zone. > Target @ TP1 Handle 1.0 extension + 30-40% upside and TP2 Cup 1.618 ext. zone +50-60% > Stop @ B-wave position -10-15% downside > RSI indicator: OB + bearish signal about to cross MA line
Long
by dukeposh