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Convergence

EUR/NZD - Short Opportunity (250pips Target)EUR/NZD has been on a sustained bear trend for a month now. Price has risen from the low formed on 22 July 2019, and is currently sitting at a point of strong resistance, with an added dose of bearish momentum divergence. Assuming an entry at the current price (1.6790) I would consider the trade to have failed at 50-60 pips from here (1.6845ish). I've designated two target levels because there are a group of cascading support zones below the current price. These zones were identified with the support & resistance algo that I've developed (see the Related Ideas), and have all been validated by recent price action. Given the strong bear trend, we should assume this is simply a pullback, and that price will form a new low below 1.6530. The second target level is at that price point, which would be a profit of 250 pips, for a risk of 50/60 pips (a 1:5 RR). The first target level would provide a profit of 130 pips (a 1:2 RR) The great thing about S/R trading is that it provides precise entry points, and you can (and should) exit the trade very quickly if price doesn't respect your S/R zone. As always, employ your trade management and position sizing rules. All the best, DD
Short
by DreamsDefined
Algorithm Builder : Please ask me if you're stuckHi everyone A quick post to share a story that happened less than 20 min ago. I received feedback that a follower didn't want to buy the Algorithm Builder because he "tried it and it doesn't work on the Indian market" 11 minutes later (see screenshot below), using the exact same Strategy Builder along with the Backtest (that I'll introduce tomorrow), I made him a strategy with a stunning 63% win-rate, 3 Profit factor - on a period of 10 days, ending today Our chat imgur.com Performance of the algorithm across the last 10 days on a market not very volatile: imgur.com I'm not writing this for trolling, I don't care at all and I surely have better use of my time I just want to convey a message that if you don't know/understand how to use my Algorithm Builder, please ask me. I won't bite and I'll even advice configs People are asking me every what I do use for trading and if I use the scripts I share... short answer: YES and the main pinnacle of my trading is the Algorithm Builder. I make every day for my clients any algorithm on any market, any timeframe in less than 15 minutes. Now some of my clients got even better than me at designing signals with the tools.... (I'm a bit pissed about that, to be honest, but so happy they're learning) You'll be able as well with a bit of practice, it's honestly not hard. Even my sister is doing it and she doesn't even know what the indicators inside mean... I'm here to help so shoot me your questions/concerns/feedback. I can't guarantee your success on the financial markets because psychology plays still a huge part but I did this in 11 minutes guys and you already have the tool available for a free week trial This is a generic script to detect the confluence/convergence between unrelated indicators Algorithm Builder More on that tomorrow to come, my friends. Dave
NSE:NIFTYEducation
by Daveatt
AUD/USD - Potential Move HigherAUD/USD (AU) is potentially set for a move higher. While I haven't entered a trade yet (waiting for confirmation), there are a number of converging factors: AU is sitting at a point of support (trend-line support). NZD/USD (NU) has not followed AU, and appears to be in the process of forming a small double bottom at near-term support (200 Day WMA). NU may be developing a bullish momentum divergence. See the chart in the Update below. AU and NU are highly correlated (+85%), therefore we have a correlation divergence. See the Related Idea below for more information. Nothing is certain in trading, which is why I'm waiting for confirmation before trading. What kind of confirmations can we look for? There are many, and it really depends on your style of trading. A very simple idea is to wait for price to move strongly from the zone it is currently in - but you have to wait for a candle to close on your chosen trading timeframe. I'll keep an eye on this one and update if anything interesting happens. But it will likely be after the fact, so if you're looking at this as a potential trade be sure to monitor it yourself. All the best. DD
Long
by DreamsDefined
GBPAUD Retest Neckline, Reversal off .382 & .618 Fib ConfluencePrice was rejected at 1.84500. This is why 1.84500 is an extremely significant level of rejection: 1) This C level correlates precisely with the .382 retracement of the AB Impulse Leg 2) This level correlates precisely with the .618 retracement of the Impulse Leg 3) This level is a perfect retest of the broken Head and Shoulders Neckline. 4) This level is also surrounded by a strong area of structure (highlighted in yellow) Best of luck traders! Please support my page by Liking, Commenting, and Following me. I really appreciate the motivation! Contact Me: Telegram: @AidanMDang LinkedIn: www.linkedin.com Or simply send me a message on Tradingview! See my recent GBPAUD Posts Below:
Short
by AidanMDang
2
BTC being squeezed by 100/300 MAOn the hourly chart the impact of the 100 and 300 Moving Average cannot be denied. While both were providing support until Monday, since then we have been trapped in an ever tightening range between the two. With both the RSI and Stochastic RSI showing indecision, expect a strong signal of BTC's future intentions for the next week from which MA we break through. Save crucial space on your Trading View chart by utilising my free to use indicator which overlays both the RSI and Stoch RSI in a clear and helpful fashion - link below. Please give me a thumbs up and follow me if you found my analysis interesting. This is for educational purposes only and not a recommendation to buy or sell.
BITTREX:BTCUSD
by BCryptological
BTC Daily - Heikin Ashi, MA (20,50,100,200), BB, RSI & MACDOverall Summary: Overall I am bearish. Bitcoin is trading in the $3600 to $4200 range during the last week, 81.5% down from the ATHs, with a market cap of $63 billion. The chart indicates a continuation of the current downtrend. The price is closest to the 50 MA with a trend towards the 50 MA. The volume has decreased over the last week, which is supporting the current price action. The RSI decreased in convergence with the recent price action, a bearish signal. Finally the MACD crossed below the Signal and Zero line, along with Histogram crossing below the Zero Line, in convergence with the recent price action, a bearish signal. Detailed Summary: This chart uses weekly Heikin Ashi Candlesticks with a customer trend bar indicator, Bollinger Bands, 4 MAs (20, 50, 100 & 200), RSI & MACD. Heikin Ashi candlesticks are great for trend and swing trading. Heikin Ashi means ‘average’ in Japanese because these candlesticks ‘average out’ price action vs traditional candlesticks that are based on OHLC (Open High Low Close). By averaging out price action this candlestick style reduces ‘noise’ and generates a much smoother chart pattern. This is helpful for trend traders as it is easier to identify the key trend in the market and to ignore smaller price volatility. During the last week the price has ranged by $500, opening at $4050 and closing at $3600. The price has decreased over the period which is a continuation of the long term price trend. The price is closest to the 50 Moving Average and during this period it has trended below the 50 Moving Average. The 20/50/100/200 Moving Average is currently acting as resistance while the 20/50/100/200 Moving Average is acting as support. The key Support and Resistance areas are $3309 and $3686. I forecast that price will increase/decrease/consolidate over the next week. Bollinger Bands are the two blue bands that ‘wrap’ around the security’s price. The top and bottom are two standard deviations away from the Moving Average. If the market becomes more volatile, the bands widen and vice versa. Historically 90% of the price action occurs with the Bollinger Bands, as the price oscillates around an equilibrium. There it helps us identify where the price is in the oscillating cycle so that we can identify entry/exit points and major price changes (on the 10% chance when price breaks through the Bolling Bands). During the last week the Bollinger Bands have expanded from $350 to $X550. The increase in the Bollinger Bands width was due to increased price volatility during the last week. The wicks broke through the upper band on 3 days, lower band on 5 days and stayed within the bands on 0 days. I forecast that Bollinger Bands will increase over the next week and overall trend is bearish. Volume is a key indicator that I use to understand past, current and possibly future price action. Unfortunately a majority of the exchange volume is fake ‘wash’ trading so it is important to rely on data from reliable exchanges like Binance and BitFinex. Volume that supports price recent action helps strengthen my belief in a specific trend. During this period volume has decreased in convergence with the recent price action. On a longer term time frame, the volume is in confluence with the long term trends. I forecast that volume will decrease and this will support a decrease of price over the next week. The RSI is a popular momentum based oscillator that helps us identify what stage in the security’s oscillation cycle it is most likely at. So after identifying the key market trend we can then apply the RSI to forecast future moves in price action (in terms of velocity and magnitude). This indicator is useful determining entry and exit points, for trend traders like myself, it is used on longer time frames as it is much more reliable. Most of the significant price action occurs around the 30 and 70 areas and ideally what we are looking for is divergence between the price action and the RSI. During the period the RSI decreased to 35 and it is in confluence with the recent price action. It has demonstrated a bearish failure swing is when the RSI rises towards 70 (considered overbought) and then RSI drops back below drops lower than its previous low. I forecast that RSI will decrease over the next week and this indicates a decrease of price over the next week. The MACD is a popular trend following momentum indicator that can help identify a security’s momentum, trend direction and duration. is a popular trend momentum indicator that can show us a security's overall trend. The core assumption of this indicator is that a security’s price oscillates around an equilibrium. Therefore by looking at the relationship between different MA calculations, we can identify what specific stage a security maybe of it oscillation cycle. This is why we have two lines, the first is called the MACD (26 - 12 day MA) and the second is called a Signal line (9 day MA). We also have a Histogram (MACD-Signal Line), which is the 1st thing I look at. Finally there is the Zero line, which is basically when the 26 and the 12 day are equal. The MACD , that combines several indicators, is worth watching when one or more of the following happens: crossovers (MACD/Signal/Histogram and Zero line), convergences/divergences between price and rapid changes. During this period the MACD has decreased in convergence with the recent price action. The MACD line crossed below the Signal line which was a bearish trend in convergence with the price action. The MACD crossed below the Zero line which was a bearish trend in convergence with the price action. And the MACD histogram crossed below the Zero line which was a bearish trend in convergence with the price action. I forecast that MACD will decrease over the next week and this indicates decrease of price over the next week. References: Heikin Ashit summary - www.investopedia.com Moving Average summary - www.investopedia.com Support and Resistance summary - www.investopedia.com Bollinger Bands summary - www.investopedia.com Fake exchange volume summary - www.blockchaintransparency.org RSI summary - www.investopedia.com MACD concise summary - www.investopedia.com
BITFINEX:BTCUSDShort
by CarbiArbittrage
BTCW V.1 Chart - Heikin Ashi, MA 20, 50, 100 & 200, RSI & MACDOverall Summary: Overall I am bearish. Bitcoin is trading in the $3600 to $4200 range during the last week, 81.5% down from the ATHs, with a market cap of $63 billion. The chart indicates a continuation of the current downtrend. The price is closest to the 200 MA with a trend towards the 200 MA. The volume has decreased slightly over the last week, which is support the current price action. While the RSI and MACD is is also in confluence with the price action over the last week with both signalling bearish price action. Detailed Summary: This chart uses weekly Heikin Ashi Candlesticks with 4 MAs (20, 50, 100 & 200), RSI & MACD. Heikin Ashi candlesticks are great for trend and swing trading. Heikin Ashi means ‘average’ in Japanese because these candlesticks ‘average out’ price action vs traditional candlesticks that are based on OHLC (Open High Low Close). By averaging out price action this candlestick style reduces ‘noise’ and generates a much smoother chart pattern. This is helpful for trend traders as it is easier to identify the key trend in the market and to ignore smaller price volatility. During the last week the price has ranged by $500, opening at $4000 and closing at $3600. The price has decreased over the period which is a continuation of the long term price trend. The price is closest to the 200 Moving Average and during this period it has trended towards the 200 Moving Average. The 50 Moving Average is currently acting as resistance while the 200 Moving Average is acting as support. The key Support and Resistance areas are $3686 and $4185. I forecast that price will decrease over the next week. Volume is a key indicator that I use to understand past, current and possibly future price action. Unfortunately a majority of the exchange volume is fake ‘wash’ trading so it is important to rely on data from reliable exchanges like Binance and BitFinex. Volume that supports price recent action helps strengthen my belief in a specific trend. During this period volume has decreased in confluence with the recent price action. On a longer term time frame, the volume is in confluence with the long term trends. I forecast that volume will decrease and this will support a decrease of price over the next week. The RSI is a popular momentum based oscillator that helps us identify what stage in the security’s oscillation cycle it is most likely at. So after identifying the key market trend we can then apply the RSI to forecast future moves in price action (in terms of velocity and magnitude). This indicator is useful determining entry and exit points, for trend traders like myself, it is used on longer time frames as it is much more reliable. Most of the significant price action occurs around the 30 and 70 areas and ideally what we are looking for is divergence between the price action and the RSI. During the period the RSI increased/decreased/consolidated to X and it is in confluence/divergence with the recent price action. It has demonstrated a bearish failure swing is when the RSI rises above 30 (considered overbought), RSI drops back below 30 then RSI rises slightly but remains below 30 (remains below oversold) and finally RSI drops lower than its previous low. I forecast that RSI will decrease over the next week and this indicates decrease of price over the next week. The MACD is a popular trend following momentum indicator that can help identify a security’s momentum, trend direction and duration. is a popular trend momentum indicator that can show us a security's overall trend. The core assumption of this indicator is that a security’s price oscillates around an equilibrium. Therefore by looking at the relationship between different MA calculations, we can identify what specific stage a security maybe of it oscillation cycle. This is why we have two lines, the first is called the MACD (26 - 12 day MA) and the second is called a Signal line (9 day MA). We also have a Histogram (MACD-Signal Line), which is the 1st thing I look at. Finally there is the Zero line, which is basically when the 26 and the 12 day are equal. The MACD , that combines several indicators, is worth watching when one or more of the following happens: crossovers (MACD/Signal/Histogram and Zero line), convergences/divergences between price and rapid changes. During this period the MACD has decreased in confluence with the recent price action. The MACD line remained below the Signal line which was a bearish trend in convergence with the price action. The histogram is trending towards the Zero line which was a bullish trend in divergence with the price action. I forecast that MACD will decrease over the next week and this indicates decrease of price over the next week. References: Heikin Ashi concise summary - www.investopedia.com Moving Average concise summary - www.investopedia.com Support and Resistance summary - www.investopedia.com Fake exchange volume summary - www.blockchaintransparency.org RSI concise summary - www.investopedia.com MACD concise summary - www.investopedia.com
BITFINEX:BTCUSDShort
by CarbiArbittrage
MNGA ready for next BULL RUNMagnegas Applied Technologies made a bull run during early October after the launch of phase 2 Magnegas. So far Magnegas has been expanding and reaching new markets, increasing its market share from just under $6 million on September 26th to over $40 million currently. Also, recently magnegas was recognized as the most Innovative Sustainability Solution” at the 2018 Maritime2020 Asia Summit in Singapore. Magnegas has been testing price strength since its original run in October and has held several moving averages. Looking at MACD as well as market momentum I believe it is ready for another run.
MLong
by jackward24
Bitcoin. Convergence on convergence!Hello, friends! We welcome you to our idea. Let's get straight to the point? Yes, there was a fall, yes, all of this is very painful and many people have been gone with stop or liqudation, BUT! This is a market and there are such unforeseen situations, and therefore, if you use a coherent trading strategy and risk management, you will very easily recover your losses. So, what about bitcoin? And here is a very interesting picture. While a lot of traders screaming that we will go even lower, Bitcoin began to draw convergences on different time frames. We showed convergence at 1H (black lines) and 4H (green lines). If we have a few more days in the same range, then daily convergence may also be formed, which will be very strong. So technically, the Bitcoin should go, at a minimum, to test resistance at 5650-5900 (a couple of levels), and as a maximum - return. What comes out of it, we'll see with you. I would like to add in the direction of growth that now many analysts say that the price will go even lower and that we will see a Bitcoin for 4,500. And now there is a real majority of them. And where does the market go? We think you yourself know ... And another reason for the growth - the reduction of short. There is a flat position in the range of $ 200, but with this flat, short is reduced. The price does not go very much, but shorts are reduced. This is not peculiar to the crowd, most likely, these shorts are redused by big players, because they know something. And what thoughts do you have on this? We welcome your comments and discussions!
BITMEX:BTCUSD.P
by Btctrader888