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Support and Resistance, A way to draw a horizontal line !Support and Resistance, A way to draw a horizontal line ! Support, S and Resistance, R 1. Definition 1.1. Support is a zone where price moves up. 1.2. Resistance is a zone where price moves down. - Support and Resistance can interchange when that zone is overcome by price 2. Support and Resistance levels 2.1. Horizontal line 2.2. Trendline 2.3. Moving averages 2.4. A Fibonancci level that you often use (Fibo 61.8) 2.5. A ratio of pattern AB=CD , or a Fibo derived from Harmonic pattern …. Support and Resistance level are mostly depending on the trading skills and experiences of individuals You and me would discuss a way to draw a horizinteal line - S1: Change the chart to Line chart (because I prefer Closed price) - S2: Choose zones where price is mostly reacting to that zone, then draw a horizontal line at those zones - S3: Change back chart to candle chart of bar chart and adjust the horizontal line to make it look approriate Just only 3 steps for us to draw a support/resistance line o Attention: - I emphasis that Support/Resistance is a zone, not a line. We usually based on historical data to plot the horizontal support/resistance zone. There fore, the close of candle or the shadow of it getting over that zone are quite common - Because we base on historical data to plot it, so it doesn't have significant value in some specific cases. Not every time that price approaches that zone and bounce back. And not all the bouncing back case meet our expectation. - All should depend on the surrounding theme of market, we have to look careful on specific cases to consider applying the Support/Resistance zone logically. - All market are freely traded so there is always a chance to form a brand new Support/Resistance . Good luck !
OANDA:XAUUSDEducation
by DatTong
23
Support and Resistance, A way to draw a horizontal line !Support and Resistance, A way to draw a horizontal line ! Support, S and Resistance, R 1. Definition 1.1. Support is a zone where price moves up. 1.2. Resistance is a zone where price moves down. - Support and Resistance can interchange when that zone is overcome by price 2. Support and Resistance levels 2.1. Horizontal line 2.2. Trendline 2.3. Moving averages 2.4. A Fibonancci level that you often use (Fibo 61.8) 2.5. A ratio of pattern AB=CD , or a Fibo derived from Harmonic pattern …. Support and Resistance level are mostly depending on the trading skills and experiences of individuals You and me would discuss a way to draw a horizinteal line - S1: Change the chart to Line chart (because I prefer Closed price) - S2: Choose zones where price is mostly reacting to that zone, then draw a horizontal line at those zones - S3: Change back chart to candle chart of bar chart and adjust the horizontal line to make it look approriate Just only 3 steps for us to draw a support/resistance line o Attention: - I emphasis that Support/Resistance is a zone, not a line. We usually based on historical data to plot the horizontal support/resistance zone. There fore, the close of candle or the shadow of it getting over that zone are quite common - Because we base on historical data to plot it, so it doesn't have significant value in some specific cases. Not every time that price approaches that zone and bounce back. And not all the bouncing back case meet our expectation. - All should depend on the surrounding theme of market, we have to look careful on specific cases to consider applying the Support/Resistance zone logically. - All market are freely traded so there is always a chance to form a brand new Support/Resistance . Good luck !
OANDA:XAUUSDEducation
by DatTong
31
XAUUSD Can Gold Reach 1843.130 AGAIN?Hey guys hope you are all well! It's currently looking like the bears have complete control over Gold at the moment. It is looking very likely that the market is retesting 1860.700 after a breakout to the downside from this price. As you can see on Friday, Gold had broken out of a consolidation zone @1860.700 and shot down to 1843.430. From 1843.430 price has retraced back up towards 1860.700, potentially retesting the 1860.700 support break as resistance but the market has not quite reached it yet and is currently trading in a small range between 1853.300 and 1857.820. I would like to see the market to reach 1860.700 again before moving back down to 1843.430 and potentially even further on later in the week, but there is a potential that gold could make a surprise move and never retrace 1860.700 properly. I will only be entering a SELL Position if the market makes a retest of 1860.700, but If there are any changes to the set up I will be sure to update the idea and it will then depend on market structure to enter somewhere else. As of now 1860.700 needs to be retested before entering. If you agree with my analysis feel free to leave a like on this post! Be sure to follow me to receive notifications each time I post my analysis!👍
OANDA:XAUUSDShort
by ShaunGadd02
7
Parabolic Curve Pattern, CAurve of the Trend Conqueror SectionWhat Is the Pattern of a Parabolic Curve ? The Parabolic Curve pattern is a curved line pattern that is formed by following a candlestick formation when prices rise or decline rapidly. Visually, the curved line pattern follows the correction points. The lay language, when the price forms a pattern like a staircase, the curved line follows the base on the steps. Parabolic Curve patterns are generally found when the market is in panic-buying or panic-selling conditions . That is, the price moves to one direction in a short time because it is driven by the dominance of the seller or buyer. In these conditions, the opportunity to gain profits is wide open, especially when the price moves to break through the curved line pattern. In essence, the pattern of Parabolic Curve indicates the point where prices will begin to approach saturation (overbought or oversold). If the price has touched its saturation point, the price opportunity to reverse direction will be even greate Price climb very fast in a very short period. Chart gradient is more than 45 degree when you zoom out the chart by expanding the time frame. When the chart breakdown, the stock price plunges close to 50% Fibonacci Retracement Level within one or two months Did you Get Burnt? The Parabolic Curve Pattern Strategy usually does occur during sharp economy motions. Industry speculation which becoming ahead of itself leads These kinds of movements. Traders usually find themselves front-running an occasion. So one of many public ways to recognize a more parabolic curve blueprint is that the period beforehand of the big event. How Can You Make Money With a Curved Line Pattern? Trading strategies using the Parabolic Curve pattern are quite simple. No complicated calculations or combinations of indicators are needed to improve the accuracy of trading signals. The emphasis of the accuracy of trading signals on the Parabolic Curve pattern lies in the trader's skills in identifying market dynamics through price action charts. Following are the practical steps: Look for currency pairs or other assets whose trend movements are strong; note the price movements in the pair whose price movements have a slope of more than or equal to 45 degrees to one direction and tiered like a ladder. Use the trading tool to draw curve lines; some trading platforms provide a built-in Parabolic Curve tool, for example tradingview. As for MT4, you can still use the help of an ellipse curved line pattern instead of the curve. Pay attention to price movements through candlesticks; if the body of the candlestick appears to break the curved line pattern, the price will have the potential to reverse direction from the previous trend. Open Position with Money Management. After the trading signal appears to open a position, use the basic money management rules such as the percentage of capital and the Risk / Reward Ratio so that the risk of each position can be controlled. You can make fast money by riding on Parabolic Curve but you must know when to get out. The above three charts start crossing down the 20D MA, that is the 1st signal to get out. When crossing 50D MA, that is the 2nd signal to take profit or cut loss. When trading with Parabolic Curve, must keep an very close eye on the chart pattern every day.
Education
by TaherJalili
4
Don't be a hacker , be a trader !First , admit that you don't know , second admit that this business is tough and third : Take your time to learn (3-5) years . You could take a tiny shortcut to get a mentor you make money with his/her charts until you learn BUT you have to learn yourself in order to sail alone some day . #trading isn't all about money. It's nice challenging rewarding puzzle game. it's about freedom , financial freedom and doing whatever you want whenever you want to. it's about being a better person . it's a rewarding hobby . add your's .
NASDAQ:ARRY
by K-alonzi
TRADING SYSTEM(Process) Part2Business Process Architecture, ... is a description of the organization's business model and strategy, its goals and its performance metrics A Trading Process Architecture is the overview of a set of trade processes that reveals their inter-relations, which may be extended with guidelines to determine the various relations between trade processes. Having a trade system process architecture in place provides guidance for the actual modeling of the involved Trading system processes
BEducation
by TaherJalili
RISING AND FALLING WEDGES Good afternoon. Today we are looking at another chart pattern RISING AND FALLING WEDGES . Let’s get on it. Wedges can either be continuation or reversal patterns. Just to refresh your memory, continuation patterns are formations that show side way price action, signalling a temporary pause in the trend; whereas reversal patterns indicate a change in the trend. Whether wedges are continuation or reversal, it’s not really significant, what matters is spotting the pattern, and knowing how to make money out of it. Wedge patterns are classified as either RISING WEDGES OR FALLING WEDGES. Rising wedges, as the name implies, slopes upwards, and they eventually break to the downside Graphically, rising wedges look like the above sketch chart(Sketch 1) notice how the slope of the support line is steeper than that of the resistance. This indicates that higher lows are being formed faster than higher highs. That is precisely how the wedge pattern get to be formed. The inverse of the rising wedge is the FALLING WEDGE , which usually breaks to the upside.(Sketch 2) Just like on the rising wedge pattern, the falling trend line connecting the highs (resistance) is steeper than the trend line connecting the lows (support). As mentioned earlier, rising and falling wedges can either be continuation or reversal patterns. But whether they be continuation or reversal patterns is not our focus, our focus is on making money when these patterns ‘BREAKOUT’ . If you case you are wondering what we mean by ‘breakout’; consider the chart above(Sketch 3) of a falling wedge and a rising wedge, and how they typically break to the upside and downside, respectively Now let’s look at how we can make money out of a RISING WEDGE PATTERN. Let’s start by considering the chart (Sketch 4) Now, when entering a Short trade based on a rising wedge, it’s important to wait for a break and close below the support line. After this close, aggressive traders can ‘pull the trigger’. But a more conservative way to enter the trade, is to wait for a retest of the previous support (now resistance) before pulling the trigger. In this case the sequence will be something like this: 1. Wait for a close below support 2. Wait for a retest of the previous support 3. If the previous support act as resistance, then enter short trade A Long trade based on a falling wedge is entered on the same principle (but in reverse), that is, 1. Wait for a price close above resistance 2. Enter Long trade at that close (for aggressive traders) 3. For conservative traders, wait for a retest of the previous resistance (now support) before pulling the trigger That’s ENTRY, now let’s look at placing stop loss and take profit levels when trading wedge patterns. Take profit target should ideally be the height of the wedge formation. Consider the chart above(Sketch 4) Stop loss orders should always be placed at a level that if hit, it will invalidate the trading set up. In the case of rising wedges, this level will be the area just above resistance. The opposite is true for falling wedges, place stop loss just below support. Thanks for your Likes and Support.... Until next time, let’s keep if Profitable!
COINBASE:BTCUSDEducation
by TaherJalili
10
What is momentum?Momentum is another word for how the price on your charts moves. Momentum analysis, though, is one of the most important skills any trader can learn. What is momentum? First of all, we need to understand what momentum actually means but this is straightforward. Momentum = Trend strength There are two ways of looking at momentum. The first one just looks at the overall trend strength. When the price is in a strong or healthy trend, traders say that the momentum is bullish or bearish (in a downtrend). When we come to the micro level later, we will see that momentum also exists when we just look at individual candlesticks. A long candlestick without wicks (shadows) usually is considered a high momentum candlestick.
BYBIT:BTCUSD.PEducation
by TaherJalili
2
PENGUINS DAILY HUNT ON MAJOR :) USDCHF 4/12/2019 Hello Traders! We would like to show you a game... While Penguins are on the hunt, you can easily join them as well! It is easy, all you need to do is to collect the hearts and watch for the pig and thunder signs. Targets are marked on the chart as a crosshair. Heart in the box - a place to jump in/out PIG in the box - places to be aware of a few different types of reactions from this level Target sign - the first target to focus on Thunder sign - spot to react - possible jump to push into reversal Penguin - expected direction Have fun with it, and remember - this game is about the patience. Keep yourself cool, whilst not being greedy. Like it if it was helpful to you. We appreciate the likes and comments. Provided feedback helps us with the future service. Got questions? Feel free to PM us! Thank you for your attention, GOD BLESS U ALL!
by Snipers-Academy
GN DAILY PLAY WITH PENGUINS:) GBPNZD 2/12/2019Hello Traders! We would like to show you a game... While Penguins are on the hunt, you can easily join them as well! It is easy, all you need to do is to collect the hearts and watch for the pig and thunder signs. Targets are marked on the chart as a cross air. Heart in the box - a place to jump in/out PIG in the box - places to be aware of a few different types of reactions from this level Target sign - the first target to focus on Thunder sign - spot to react - possible jump to push into reversal Penguin - expected direction Have fun with it, and remember - this game is about the patience. Keep yourself cool, whilst not being greedy. Like it if it was helpful to you. We appreciate the likes and comments. Provided feedback helps us with the future service. Got questions? Feel free to PM us! Thank you for your attention, GOD BLESS U ALL!
by Snipers-Academy
ANOTHER LOVELY PAIR FOR U :) GBPJPY 23/11/2019Hello Traders! We would like to show you a game... While Penguins are on the hunt, you can easily join them as well! It is easy, all you need to do is to collect the hearts and watch for the pig and thunder signs. Targets are marked on the chart as a cross air. Heart in the box - a place to jump in/out PIG in the box - places to be aware of a few different types of reactions from this level Target sign - the first target to focus on Thunder sign - spot to react - possible jump to push into reversal Have fun with it, and remember - this game is about the patience. Keep yourself cool, whilst not being greedy. Like it if it was helpful to you. We appreciate the likes and comments. Provided feedback helps us with the future service. Got questions? Feel free to PM us! Thank you for your attention, GOD BLESS U ALL!
by Snipers-Academy
ANOTHER EXAMPLE OF SCRIPTED PRICE MOVEMENT... USDCAD 23/11/2019Hello Traders! We would like to show you a game... While Penguins are on the hunt, you can easily join them as well! It is easy, all you need to do is to collect the hearts and watch for the pig and thunder signs. Targets are marked on the chart as a cross air. Heart in the box - a place to jump in/out PIG in the box - places to be aware of a few different types of reactions from this level Target sign - the first target to focus on Thunder sign - spot to react - possible jump to push into reversal Have fun with it, and remember - this game is about the patience. Keep yourself cool, whilst not being greedy. Like it if it was helpful to you. We appreciate the likes and comments. Provided feedback helps us with the future service. Got questions? Feel free to PM us! Thank you for your attention, GOD BLESS U ALL!
by Snipers-Academy
SMALL VS LARGEI have given thought to this and this is my opinion. >>>>>Small account In order to grow a small account to sustainable levels, higher risk will be applied compared to a large account. What i mean by this is, 1-2% monthly gain can be sustainable on a large account but on a small account that would be insignificant. To bridge this gap one has to increase position sizing, increasing the risk & the draw-down. Overall : High exposure to risk . High draw-down. High monthly % returns targets. Harder to grow. >>>>Large account Low risk Low monthly % target returns. Low draw-down. Safer. This makes growing a small account difficult to grow compared to maintaining a large account. If one was to apply the same risk used in a small account to a large account then it too, will be subjected to the same conditions hence making it a 'small account' from the traders view point. These are just my opinions and maybe flawed from another persons point of view.
Education
by UnknownUnicorn4330292
Dont be a D#@K.... its DUCK.. honestly ;p Here we have some really strong support and resistance levels drawn on the chart ( green lines ) They are classed as strong because price touched them and then bounce a number of times ( I will let you figure these out for yourselves... I'm not spoon feeding you ) ;p You can also see a lovely trend line TL that has been touched more than once, so this is also classed as strong. Now because these levels an TL are strong a break of any of these could see a big move, again you can see all this on the charts. When price is these key levels in NO MANS LAND we tend not to take a trade, we will wait for price to retest these levels and wait for a break or a bounce before jumping in a trade. I keep saying it and I will keep saying it until you get p#@sed off with me...... but patients is key!!!!!!! Get the larger timeframe charts up ( we like to use 1 day and 4H charts ) and zoom all the way out... this will make spotting these levels so much easier. So don't be a D@#k and practise this... it will make you a more profitable trader. I hope this has helped you.
Education
by ApexFX_Pro
1
Dont be a D#@k... its DUCK honestly ;p Here we have some really strong support and resistance levels drawn on the chart ( green lines ) They are classed as strong because price touched them and then bounce a number of times ( I will let you figure these out for yourselves... I'm not spoon feeding you ) ;p You can also see a lovely trend line TL that has been touched more than once, so this is also classed as strong. Now because these levels an TL are strong a break of any of these could see a big move, again you can see all this on the charts. When price is these key levels in NO MANS LAND we tend not to take a trade, we will wait for price to retest these levels and wait for a break or a bounce before jumping in a trade. I keep saying it and I will keep saying it until you get p#@sed off with me...... but patients is key!!!!!!! Get the larger timeframe charts up ( we like to use 1 day and 4H charts ) and zoom all the way out... this will make spotting these levels so much easier. So don't be a D@#k and practise this... it will make you a more profitable trader. I hope this has helped you. '
Education
by ApexFX_Pro