DXY DOLLAR INDEX #TheCryptoCity$DXY DOLLAR INDEX
Break down below the trendline on the 4 Hours time frame. It's getting ready to take a plunge
This is an extremely good sign for #Bitcoin and #Altcoins
Educacion
EURUSD PLAY!In this chart we see EU setting up nicely for a short.
Again price only moves to fill #Imbalances and #Liquidity
I see Price continuing to fill that liquidity and continue for the short.
Happy Trading Family!
BTC/USDT Analysis #TheCryptoCityBTC/USDT Analysis
This Is My Idea I Could Be Wrong
I'm Not A market Maker
Everything Is On The Chart.
XZT/USDT Analysis #TheCryptoCityXZT/USDT
Since October XTZ is in a downtrend and making
the perfect channel. The market is very volatile and
unpredictable these days. But it is making good
support at 2.9 and if makes good support here and
breaks the channel resistance and structure then you can take
benefit from this coin.
Everything Is On The Chart.
Always Manage Your Risk
I am Not A Financial Advisor Do Your Own Research.
Every Thing Depends On BTC Movement
#TheCryptoCity #XZT
we are not market makers :)
FLAG and PENNANTHello everyone!
I want to tell you a little about such figures as Flag and Pennant.
These patterns are quite common on the chart, so every trader should know how to trade them.
What does the flag look like?
After a strong movement (flagpole), the price begins to correct in the form of a rectangle, which corrects against the previous trend (flag).
What does a pennant look like?
Just like a flag, a pennant appears after a strong trend.
After that, the correction begins in the form of a narrowing triangle.
How to trade the flag?
A bullish flag is a flag that has formed after a strong upward movement.
The entry point for a bullish flag will be a breakout and anchoring the resistance of the rectangle (flag).
The stop is placed at the low of the flag.
To calculate a possible profit target, it is worth measuring the flagpole of the flag - this value superimposed above the breakout will be the target for your profit.
How to trade a pennant?
A bullish pennant forms after a strong bullish move.
To find an entry point, you need to wait until the resistance of the triangle is broken and the price fixes above the level.
Stop loss is usually placed below the nearest minimum.
To get an approximate profit target, you need to measure the length of the bullish move in front of the triangle - this value will be your target above the break.
Conclusion
These patterns are very common and give an excellent risk / reward ratio, usually greater than 1: 3.
With correct trading, the profit value will be even higher.
Do not forget that these shapes are continuation shapes.
And don't forget to set your stop loss.
Good luck to you!
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩
✅ How to approach Trendline BreakoutsIt's a very simple strategy. It is more reliable the longer the timeframe.
1. Find a TREND LINE
2. Wait for the BREAKOUT
3. Buy while price is RETESTING the TrendLine
4. During LATERAL movements Keep in mind other indicatores such as RSI or other support lines.
5. Enjoy profits during the UPWARD movement (Take profits gradually during the upward move)
How to Use Fibonacci Retracement ? hello traders , today i'll talk abouut my favourite tools
the Fibonacci retracement tool is extremely useful and it help us to find the strong resistance and support area ( 0.618) .
How to use it :
Drawing Fibonacci retracement levels is a simple three-step process :
In an uptrend:
Step 1 – Identify the direction of the market: uptrend
Step 2 – Attach the Fibonacci retracement tool on the bottom and drag it to the right, all the way to the top
Step 3 – Monitor the three potential support levels: 0.236, 0.382 and 0.618
In a downtrend:
Step 1 - Identify the direction of the market: downtrend
Step 2 -Attach the Fibonacci retracement tool on the top and drag it to the right, all the way to the bottom
Step 3 Monitor the three potential resistance levels: 0.236, 0.382 and 0.618
In the next post, I will explain more about The golden ratio and how to use it in entering and exit .
for more educational ideas , signals and analysis follow us .
TYPES OF TRADING ORDERS AND HOW TO USE THEMPending orders
Somewhere you can find the term as "Deferred orders".
These are orders that will be filled in the future, once a certain condition is met.
Most often this condition is reaching a certain market price.
The most popular pending orders are Stop and Limit!
Both types of orders become market orders when the initially set price is reached.
The difference between them is that Stop Orders can be activated at a worse price than the set price, depending on market conditions.
Limit orders cannot be activated at a price lower than the set price, the price must be either equal to the set price or even more advantageous.
Depending on the purposes of the trade, different deferred orders are used.
A breakout of a level is traded with a Stop order
A pullback from a level is traded with Limit order.
The types of Pending Orders are:
Buy Limit;
Sell Limit;
Buy Stop;
Sell Stop;
OTO;
OCO;
and other.
Market order
This is an order where you enter a trade, regardless of buy or sell, which is executed at the current best price.
For example, if you want to buy GBP/USD, you click directly on the corresponding button and the trading platform automatically places the deal on the market.
When you click on the "Sell" or "Buy" button, you actually place a market order.
Keep in mind that depending on market conditions, there may be some difference between the price you see and the price at which the order will be executed.
Stop Forex orders - Buy Stop and Sell Stop
The Stop orders to enter a deal are different from the Stop Loss order to limit the loss!
Buy Stop order is used when you want to buy at a level higher than the current market price.
It is placed higher than the level at which the price is currently.
Sell Stop order is used when you want to sell at a level lower than the current market price.
It is set lower than the current price level.
For example, EUR/USD is currently trading at a price of 1.1860, you think that if it reaches a price of 1.1960 it will continue to move in an uptrend.
In this situation you have two options:
To sit in front of the screen waiting for price to reach 1,1960 so you can buy, or;
To place a Buy Stop order at the 1,1960 level.
However, if you think that the price will fall in the coming periods, instead of staying at the computer and wait for a convenient time to sell, you can place a Sell Stop order at a level lower than the current market price - on the chart 1.1760.
Limit Forex orders / Buy limit and Sell Limit
Buy Limit order is used when you want to buy at a level lower than the current market price.
It is set lower than the current price level.
Sell Limit order is used when you want to sell at a level higher than the current market price.
It is placed higher than the level at which the price is currently.
For example, EUR/USD is currently trading at a price of 1.1860, you think that if it reaches a price of 1.1960 it will bounce off the level and go into a downtrend.
In this situation you have two options:
To sit in front of the screen waiting for price to reach 1,1960 so you can sell, or;
To place a Sell Limit order at the 1,1960 level.
However, if you think that the price will fall in the following periods and then rise, instead of you sitting at the computer and wait for a convenient time to buy, you can place an order to buy a limit below the current market price - on chart 1,1760.
Above is a summary chart of the orders and where they are placed.
Let’s summarise:
Buy Limit - pending buy order placed at a price lower than the current one;
Buy Stop - pending buy order placed at a price higher than the current one;
Sell Limit - pending sell order placed at a price higher than the current one;
Sell Stop - pending sale order placed at a price higher than the current one;
OCO orders / One Cancels The Other
The OCO order is a combination of two orders to enter into a trade.
One order is placed above the current market price and the other below the current market price.
When one of the orders is reached, it is executed and the other one is automatically deleted from the trading platform.
For example, EUR/USD is currently trading at 1.1850.
You expect great volatility in the market and you do not want to miss the movement.
In this case you place an OCO Forex order at the level of 1.1880 (above the market price) in anticipation of an upside move and at the level of 1.1820 (below the market price) in case the price goes down.
When the market reaches 1.1880, you will buy EUR/USD at this level, and the order placed at 1.1820 will be deleted from the trading platform.
OTO orders / One Triggers The Other
OTO allows the trader to place two orders simultaneously, the second one being activated after the first one.
This type of order allows many different combinations.
For example, a buy order can be placed at a pre-set price, above the current one (Buy Stop) and a second order can be placed together with it to limit the loss from the buy order, in case the price goes in the opposite direction.
In this case, the loss limit order will only be activated if the buy order is activated.
The orders described so far are for entering into a trade, but you must also exit the trades.
This is done by using “Stop Loss” and “Take Profit”.
Trailing stop
Trailing stop is an order to limit the loss, which moves along with the market price.
It can be said that this is a moving Stop Loss.
And here is how to do it!
Suppose you want to buy GBP/USD at a price of 1.2820.
You place a trailing stop at a distance of 20 pips at a price of 1.2800.
When the price goes in your direction and reaches the level of 1.2840, then the trailing stop will move by 20 pips or at the level of the entrance to the transaction.
Then if the price reaches the level of 1.2860, then the trailing stop will move to the level of 1.2840.
Keep in mind that if the price returns from 1.2860 to 1.2850, the trailing stop will NOT go down to 1.2830, but it will remain at 1.2840.
If it was to move down back with the price, it makes no sense, because it will never be reached and will not be able to limit the loss of the deal.
And then you will find out first hand what Margin Call and Stop Out is!
Another important feature to keep in mind is that the trailing stop is only active if the trading platform is active.
If the platform is closed, then you do not have a Stop Loss order at all!
Conclusion
These are the most frequently used orders on the Forex market and they are totally enough, there is no need to complicate trading.
Before you start trading live, get familiar with the conditions of the broker regarding the orders.
Make sure that you understand them and that you can use them correctly.
The best teacher remains the practice, therefore, open a demo account and test the capabilities of the platform.
👍 Please support this tutorial with like and comment so we can help more people together.
Thank you in advance! 🙏
FLAG PATTERNS & PSYCHOLOGY BEHIND BULL AND BEAR FLAG FORMATIONSHi everyone and Good morning. Welcoming you back (after 18-week break)
Thanks for your like and supports.
This is Part 3 of my Technical Analysis series of CHART PATTERNS
BULL AND BEAR FLAGS
Now, for those meeting the words BULLS and BEARS for the first time, these are terms used to describe the buying and selling action of traders
BULLS generally refer to the price action of buyers as they drive Stock PRICES UP, while BEARS refer to the selling action of sellers as they drive stock PRICES DOWN.
For starters, let’s define what a Flag pattern is:
A flag pattern is a TREND CONTINUATION PATTERN . It is named a flag pattern because its formation resembles a flag on a flagpole.
The pole is usually the result of an almost VERTICAL RISE IN PRICE, and the flag part results from a PERIOD OF CONSOLIDATION
When the price breaks out of the consolidation range, it triggers the next move higher.
Flag patterns can either be BULLISH or BEARISH.
Follow me closely, as We will now look at BULL and BEAR Flags in turn:
BULL FLAGS
Bullish flag formations are found in stocks with STRONG UPTRENDS.
They look something like (sketch 1 on chart)
As can be seen on the sketch 1 chart above, the pattern starts with a STRONG, ALMOST VERTICAL price spike, that eventually start losing steam forming an orderly pullback where the highs and lows are parallel to each other forming the FLAG in the form of a tilted rectangle.
The tilted rectangle (flag) usually breaks to the upside resulting in another powerful move higher, usually measuring the length of the prior flag pole (Let’s consider the sketch 2 chart)
Now let’s look at BEAR FLAGS :
The bear flag is an upside-down version of the bull flag. It has the same structure as the bull flag but inverted. looks like sketch 3
As can be seen above, the flagpole forms from an ALMOST VERTICAL price drop, which is followed by a period of consolidation, with parallel upper and lower trendlines forming the flag.
A break of the support structure of the flag, results in another move lower, with the same length as the prior pole.
Just as with any Chart pattern, there is usually psychology behind its formation.
Let us look at the
PSYCHOLOGY BEHIND BULL AND BEAR FLAG FORMATIONS:
On bull flags, the bears (short sellers) get blindsided due to complacency as bulls (buyers) charge ahead with a strong breakout causing bears (short sellers) to either panic and cover their ‘shorts’; or add to their ‘short’ positions.
Once the stock is in the consolidation stage, the bears (short sellers) regain some confidence and they add to their ‘short’ positions with the expectation of a price drop; only to get trapped again when the price break to the upside causing short sellers to cover their ‘Shorts’ thereby driving prices even higher
Since some short-sellers from the initial flagpole run up may still be trapped, the second breakout forming through the flag can be even more extreme in terms of the angle and severity of price move.
That is precisely the psychology behind BULL FLAGS; and that same psychology applies on BEAR FLAGS, just in reverse.
Now let’s consider the sketch 4 on how we can make money from bull and bear flags:
On a bull flag, you typically want to enter a Long trade on a breakout to the upside. Take profit target should be the same length as the prior flagpole. Stop loss should be placed just below the broken resistance line, which will now be acting as support.
I will leave it here for this week, that’s all I had in store for you. Follow me And JOIN me again next week as we will be talking about another Chart Pattern that works.
Until then, here is to Profitable trading!
Most common mistakes in tradingHello my friends today i want to talk with you about most common mistakes in trading from my experience (any market but specially in crypto)
And after reading this i hope you will avoid them
1- Not Patient Enough :
I think this is one of top major reasons for failure in cryptomarket
Most newbies in this Field are thinking they will be rich in few days thats completely wrong ...Any old trader here will tell you how the patience will paid off
2- More Than You Can Afford To Lose :
only risk what you can afford to lose ...
more than that will lead to alot of mistakes and you may close your position after any small drop before reaching stoploss point and thats wrong my friends
3- Not Using Stoploss :
Stoploss is important but i recommend manual stoploss by candles closing not automatic one to avoid manipulation in market.. if you dont know difference between manual and automatic read my previous idea about it
4- Over Trading :
Alot of trades every day wont make more money ...instead, it will make you more stressful and staring at charts all day resulting in more mistakes
👉Fewer in numbers and higher in quality trades per week or even month are enough
sometimes best thing you can do is not trading at all when market is uncertain
5- Emotional Trading :
Both fear and greed play big role in the market movement
When you see most of people are greedy you should start taking profits partially ..and also try to avoid selling during panic sells
6- Revenge Trading :
Like using all wallet to buy one coin (all in) or doing high leverage postion to recover losses fast usually end in liqudation or big lose and leaving market completely
This market need you to be flexible
7- Ignoring Your First Plan
alot of very good plans and managements from start but you continusoly change it by listening to other random people opinions
trust in your self and trust in chart
no problem from taking advices from more experience people but you should trust in yourself first by have your own view and own plan
How many mistakes you find yourself doing it ...choose the number from above and tell us in comments
Reversal candles ( Basic)!Reversal candles ( Basic)!
1. Double Bar Low Higher Close ( DBLHC)
The DBLHC pattern consists of two candles.
The Lows of both candles need to be very close (within few pips).
The Close of the 2nd bar need to be Higher than the previous bar's high.
2. Double High Lower Close (DBHLC)
The DBHLC pattern consists of two candles.
The Highs of both candles need to be very close (within few pips).
The Close of the 2nd bar need to be lower than the previous bar's low.
3. Bearish Outside Vertical Bar (BEOVB)
The Bearish Outside Vertical Bar pattern consists of two candles.
The second candlestick is a bearish candlestick.
The second candlestick has a Higher High and a Lower Low than the first candlestick.
The Close of the second candle should be in the last third of the bar.
4. Bullish Outside Vertical Bar (BUOVB)
The Bullish Outside Vertical Bar pattern consists of two candles.
The second candlestick is a bullish candlestick.
The second candlestick has a Higher High and a Lower Low than the first candlestick.
The Close of the second candle should be in the last third of the bar
5. Pinbar
The significant Pin Bar pattern consists of one candlestick.
Unlike standard pin bar, the tail of the candlestick is bigger than its body and at least 3 times bigger than its nose.
Reversal candles ( Basic)!Reversal candles ( Basic)!
1. Double Bar Low Higher Close ( DBLHC)
The DBLHC pattern consists of two candles.
The Lows of both candles need to be very close (within few pips).
The Close of the 2nd bar need to be Higher than the previous bar's high.
2. Double High Lower Close (DBHLC)
The DBHLC pattern consists of two candles.
The Highs of both candles need to be very close (within few pips).
The Close of the 2nd bar need to be lower than the previous bar's low.
3. Bearish Outside Vertical Bar (BEOVB)
The Bearish Outside Vertical Bar pattern consists of two candles.
The second candlestick is a bearish candlestick.
The second candlestick has a Higher High and a Lower Low than the first candlestick.
The Close of the second candle should be in the last third of the bar.
4. Bullish Outside Vertical Bar (BUOVB)
The Bullish Outside Vertical Bar pattern consists of two candles.
The second candlestick is a bullish candlestick.
The second candlestick has a Higher High and a Lower Low than the first candlestick.
The Close of the second candle should be in the last third of the bar
5. Pinbar
The significant Pin Bar pattern consists of one candlestick.
Unlike standard pin bar, the tail of the candlestick is bigger than its body and at least 3 times bigger than its nose.
10 chart patterns every trader needs to know!10 chart patterns every trader needs to know!
- Best chart patterns
1. Head and shoulders
2. Double top
3. Double bottom
4. Rounding bottom
5. Cup and handle
6. Wedges
7. Pennant or flags
8. Ascending triangle
9. Descending triangle
10. Symmetrical triangle
10 chart patterns every trader needs to know!10 chart patterns every trader needs to know!
- Best chart patterns
1. Head and shoulders
2. Double top
3. Double bottom
4. Rounding bottom
5. Cup and handle
6. Wedges
7. Pennant or flags
8. Ascending triangle
9. Descending triangle
10. Symmetrical triangle
Sideways trend !!!Sideways Trend - Definition A sideways trend comprises a series of price swings existing within the range of a significant upper resistance area and a significant lower support area . The range support and resistance boundaries (range lower and upper boundaries) may be formed from either higher timeframe S/R and/or significant trading timeframe swing highs or lows
Ex:
A sideways trend starts when four trend turning points (Swing High and Swing Low) develop within the range of a previous price swing.
The sideways trend ends when as price breaks the high or low defining the sideways trend.
Sideways trend !!!Sideways Trend - Definition A sideways trend comprises a series of price swings existing within the range of a significant upper resistance area and a significant lower support area . The range support and resistance boundaries (range lower and upper boundaries) may be formed from either higher timeframe S/R and/or significant trading timeframe swing highs or lows
Ex:
A sideways trend starts when four trend turning points (Swing High and Swing Low) develop within the range of a previous price swing.
The sideways trend ends when as price breaks the high or low defining the sideways trend.
The One Chart Pattern That You Must Trade!!!The One Chart Pattern That You Must Trade
What's a "first pullback"?
This is just the first pullback after a significant price event. For example:
- The first pullback after a trend line break.
- The first pullback after a breakout.
- The first pullback after break down (short).
- The first pullback after any wide range candle.
- The first pullback after a break to new highs
EX:
The first pullback after a trend line break.
The first pullback after a breakout.
The first pullback after a breakout EMA
The first pullback after a break to new highs.
The first pullback after a breakout from the range
The One Chart Pattern That You Must Trade!!!The One Chart Pattern That You Must Trade
What's a "first pullback"?
This is just the first pullback after a significant price event. For example:
- The first pullback after a trend line break.
- The first pullback after a breakout.
- The first pullback after break down (short).
- The first pullback after any wide range candle.
- The first pullback after a break to new highs
EX:
The first pullback after a trend line break.
The first pullback after a breakout.
The first pullback after a breakout EMA
The first pullback after a break to new highs.
The first pullback after a breakout from the range
Breakout - Retest - Confirming price action!What is a Retest?
Retests in the Forex market come in all shapes and sizes. They can come after a market breaks a key horizontal level of support or resistance or a breakout from a wedge pattern.
Market Dynamics of a Retest and Confirming Price Action
The 3-Step Method That Predicts a Change in TrendThe 3-Step Method That Predicts a Change in Trend
The three steps are:
1. A trendline is broken.
2. There is a retest and failure.
3. Price falls below the prior low
These three steps define a stock that has moved from an dowtrend to a uptrend. Learn these three steps and you will never trade on the wrong side of the trend again.
Step 1. A trendline is broken
Step 2. There is a retest and failure
We know that a stock in an downtrend makes lower highs and lower lows. When a stock fails to do this, we should be begin to question the trend. This stock has now tested that prior low - and failed. So, this stock is no longer making lower lows. But, it is not making higher highs either!
So far, there is no confirmation that the trend has changed.
Step 3. Price rises above the prior high
The 3-Step Method That Predicts a Change in TrendThe 3-Step Method That Predicts a Change in Trend
The three steps are:
1. A trendline is broken.
2. There is a retest and failure.
3. Price falls below the prior low
These three steps define a stock that has moved from an dowtrend to a uptrend. Learn these three steps and you will never trade on the wrong side of the trend again.
Step 1. A trendline is broken
Step 2. There is a retest and failure
We know that a stock in an downtrend makes lower highs and lower lows. When a stock fails to do this, we should be begin to question the trend. This stock has now tested that prior low - and failed. So, this stock is no longer making lower lows. But, it is not making higher highs either!
So far, there is no confirmation that the trend has changed.
Step 3. Price rises above the prior high
(Review) Definition trend and change of trend ( Trend reversal)(Review) Definition trend and change of trend ( Trend reversal)
EX:
Discussion:
Downtrend - Definition
A downtrend comprises a repeating sequence of:
1) A downward extension
2) A swing low
3) An upward pullback
4) A swing high
A downtrend ends when price breaks the swing high which leads to the lowest swing low of the trend
Uptrend - Definition
An uptrend comprises a repeating sequence of:
1) An upward extension
2) A swing high
3) A downward pullback
4) A swing low
An uptrend ends when price breaks the swing low which leads to the highest swing high of the trend
EX: Prior analysis ( Downtrend)
- Countertrend
- Reversal trend:
- Downtrend forming=> Sell
- Continuous downtrend
Please support the setup with your likes, comments and by following on TradingView.
Thanks
why do most traders fail in #crypto?why do most traders fail in #crypto?
1-laziness(looking for the path of least resistance-the holy grail)
2-lack of consistent methodology
3-failure to use prober risk managment
4-psychology
