When should you not buy into support?(only 5% of traders know)1-lower highs into support
-sellers are in control
2-higher timeframe in a down trend
3-unfavorable risk to reward ratio
4-support tested multiple times
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Educationaltrade
#education #crypto #tutorialHow Many Indicators Should You Use In Trading?
1-Identify a trend
Example:200ma
2-Define an area of value
Trends line-S&R
3-Entry trigger
Price action-stockastic cross
4-Trade management
Example:Parabolic sar
-it depends on what trades you are looking for
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#crypto #education #tutorial5 Trading books Which Will Improve Your Results, Fast
1.Japanese Candlestick Charting
by Steve Nison
2- folowing the trend by Andreas clenow
3- price action by albrooks
4- technical analysis by John morphy
5-Fibonacci Trading by CAROLYN BORODEN
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5 trading lessons from 5 years of losing1-consistent set actions
-Your action must be consistent
-inconsistency leads to inconsistent results
-what are your goals from trading
2-money management
3-model success
4- Emotion management
5- Trader Psychology
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5 Trading Habits Which Keep You Poor (Without You Realizing) 1-don’t chase the market
2-don’t use a fixed position size
3-don’t trade without plan
4-don’t adjust your stoploss
5-avoid having itchy fingers
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5 Brutal Trading Truths Nobody Tells You1-you need money to make money
2-steep learning curve
3-in a drawdown most of the time
4-don’t have what it takes
-trading takes time,energy and resources
-few people stay
5-must have an edge
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What kind of Trader are YOU?🟢 A scalper , is a kind of trader that usually buys and sells an individual stock multiple times throughout the same day.
They hold a position for few seconds or few minutes, trading during the busiest and most liquid market hours.
Scalpers aim for very small profits on each trade, the large number of trades they open during a day can easily return significant profits by the end of the day.
Be a scalper is not that easy, if you can't keep focusing on your screen for hours each day, it probably won't suit your life style.
🟢 A day trader open and close substantially less setups compared with scalpers, normally one or few setup every day.
Although they both trade intraday, the day trader's strategy is to focus on the best opportunities of the day, and to hold on for a larger profit target.
Therefore, a day trader usually holds on to a trade for several hours but not more than one full trading day. Ultimately the goal of a day trader is to aim for a larger piece of the expected daily price movement within one trade
🟢 Swing traders normally trade on higher time frames, from H4 to daily charts, holding a position for few hours, days or sometimes weeks!
They always are looking for great opportunities that could give them more profits and large targets
Swing traders must familiarise themselves with technical analysis, using these techniques as a set of guiding principles for their decisions and also have an understanding of fundamental analysis, examining the asset’s fundamentals to support their technical evaluation.
🟢 Position traders usually hold a stock for an extended period of time, typically several weeks or years. A position trader generally does not let daily price motion or market news influence their trading strategies. Instead, they are focused on long-term outcomes and allow their particular holdings to fluctuate in sync with general market trends over the short-term.
They usually need to be really patient and wait several weeks before getting the perfect opportunity to get into a trade!
What kind of Trader are you?
Trade Safe and Responsibly ,
Gianni
Trading Errors / Trading Success In Market - 10 Golden Tips -Hi Trader's .. Hope You Be Fine .
Today We Have A New Education Lesson To How To Success In Trading --- And Golden Tips .
-- Golden Tips To Continue In Market --
1-Don't Start Within 500$
2-Learn And Choose Good Strategy First
3-Traning On Demo Account For 1-3 Months With One Strategy
4-Foucs On 4-5 Pairs Only To Understand There How To Move
5-Don't Trade In High Spread
6-Don't Trade With High News
7-For Every 500$ Only USE 0.01 And Just 5 Open Trades In Same Time
8-Use Stop Lose
9-Don't Use Hedge
10-Don't Forget 1/2/3/4/5/6/7/8/9 Tips ♥
Be Safe -- Trade Safe
What is a Symmetrical Triangle?A symmetrical triangle is a chart pattern characterized by two converging trend lines connecting a series of sequential peaks and troughs. These trend lines should be converging at a roughly equal slope. Trend lines that are converging at unequal slopes are referred to as a rising wedge, falling wedge, ascending triangle, or descending triangle.
KEY TAKEAWAYS
Symmetrical triangles occur when a security's price is consolidating in a way that generates two converging trend lines with similar slopes.
The breakout or breakdown targets for a symmetrical triangle is equal to the distance between the initial high and low applied to the breakout or breakdown point.
Many traders use symmetrical triangles in conjunction with other forms of technical analysis that act as a confirmation.
PRICE ACTION WINNING TRADE – BULLISH RE-ENTRY STRATEGY Hi traders,
This is a 45-minute chart of the BTCUSD.
A bullish Pin Bar seen we took the trade.
after a bullish move price fell and hit stop-loss orders placed around the low of the Pin Bar (a common pattern stop level).
The market recovered quickly and offered a re-entry chance with a second bullish Pin Bar. We bought as price broke above its high.
After our entry, the market rose with a strong thrust.
I strongly recommend that you adopt this re-entry trading approach. It offers a trading technique that lowers trade frequency and increases probability of success.
Thank you.
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FLAG pattern Definition:
A FLAG pattern is a continuation chart pattern, named due to its similarity to a flag on a flagpole.
A flag is a relatively rapid chart formation that appears as a small channel after a steep trend, which develops in the opposite direction.
After an uptrend, it has a downward slope. After a downtrend, it has an upward slope.
IMPULSE Definition:
A “flag” is composed of an explosive strong price move forming a nearly vertical line.
This is known as the "IMPULSE" or ”flagpole”.
The sharper the spike on the flagpole, the more powerful the bull flag can be.
Corrective Wave Definition:
After an uptrend, it has a downward slope. After a downtrend, it has an upward slope.
This downward or upward slop known as "Corrective Wave".
Flag patterns can be bullish or bearish:
A bullish flag is known as a Bull Flag.
A bearish flag is known as a Bear Flag.
How to Trade FLAG Patterns:
When the trend line resistance on the flag breaks, it triggers the next leg of the trend move, and the price proceeds ahead.
Breakouts happen in both directions but almost all flags are continuation patterns.
This means that Flags in an uptrend are expected to break out upward and Flags in a downtrend, are expected to break out downward.
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FLAG pattern Definition:
A FLAG pattern is a continuation chart pattern, named due to its similarity to a flag on a flagpole.
A flag is a relatively rapid chart formation that appears as a small channel after a steep trend, which develops in the opposite direction.
After an uptrend, it has a downward slope. After a downtrend, it has an upward slope.
IMPULSE Definition:
A “flag” is composed of an explosive strong price move forming a nearly vertical line.
This is known as the "IMPULSE" or ”flagpole”.
The sharper the spike on the flagpole, the more powerful the bull flag can be.
Corrective Wave Definition:
After an uptrend, it has a downward slope. After a downtrend, it has an upward slope.
This downward or upward slop known as "Corrective Wave".
Flag patterns can be bullish or bearish:
A bullish flag is known as a Bull Flag.
A bearish flag is known as a Bear Flag.
How to Trade FLAG Patterns:
When the trend line resistance on the flag breaks, it triggers the next leg of the trend move, and the price proceeds ahead.
Breakouts happen in both directions but almost all flags are continuation patterns.
This means that Flags in an uptrend are expected to break out upward and Flags in a downtrend, are expected to break out downward.
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After a significant drop in Bitcoin price , the price is in a correction wave.
What makes the chart interesting today is that:
. Bitcoin is likely to challenge the 18042 ~ 18227 resistance area.
. A break above 18227 could push the pair to the 19487 area .
. A resistance rejection , however could lead to another retest of the lower supports.
Will the Bitcoin see a rejection from the resistance area or an upside breakout?
No one knows it! We have to wait and see!
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After a significant drop in Bitcoin price , the price is in a correction wave.
What makes the chart interesting today is that:
. Bitcoin is likely to challenge the 18042 ~ 18227 resistance zone.
. A break above 18227 could push the pair to the 19487 area .
. A resistance rejection , however could lead to another retest of the lower supports.
Will the Bitcoin see a rejection from the resistance zone or an upside breakout?
No one knows it! We have to wait and see!
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Descending Triangle Definition:
A Descending Triangle is a type of triangle chart pattern that occurs when there is a support level and a slope of lower high.
It is defined by two lines:
. A horizontal support line running through valleys.
. A Downtrend line drawn through the peaks.
The lower highs indicate more sellers are gradually entering the market and selling pressure increases as price consolidates moving further towards the apex.
A Descending Triangle is classified as a continuation chart pattern .
If price can break through the support level, that level will now act as a resistance level.
Breakouts can also happen in both directions. Statistically, downward breakouts are more likely to occur, but upward ones seem to be more reliable.
In most cases, the sellers will win this battle and the price will break out past the support. But Sometimes the support level is too strong, and there is simply not enough selling power to push it through. Therefore you should be ready for movement in EITHER direction.
ENTRY:
We would set an entry order below the support line and above the slope of the lower highs.
TARGET:
Target is approximately the same distance as the height of the triangle formation.
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Descending Triangle Definition:
A Descending Triangle is a type of triangle chart pattern that occurs when there is a support level and a slope of lower high.
It is defined by two lines:
. A horizontal support line running through valleys.
. A Downtrend line drawn through the peaks.
The lower highs indicate more sellers are gradually entering the market and selling pressure increases as price consolidates moving further towards the apex.
A Descending Triangle is classified as a continuation chart pattern .
If price can break through the support level, that level will now act as a resistance level.
Breakouts can also happen in both directions. Statistically, downward breakouts are more likely to occur, but upward ones seem to be more reliable.
In most cases, the sellers will win this battle and the price will break out past the support. But Sometimes the support level is too strong, and there is simply not enough selling power to push it through. Therefore you should be ready for movement in EITHER direction.
ENTRY:
We would set an entry order below the support line and above the slope of the lower highs.
TARGET:
Target is approximately the same distance as the height of the triangle formation.
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Ascending Triangle Definition:
An ascending triangle is a type of triangle chart pattern that occurs when there is a resistance level and a slope of higher lows.
It is defined by two lines:
. A horizontal resistance line running through peaks.
. An uptrend line drawn through the bottoms.
The higher lows indicate more buyers are gradually entering the market and buying pressure increases as price consolidates moving further towards the apex.
An ascending triangle is classified as a continuation chart pattern.
If price can break through the resistance level, that level will now act as a support level.
Breakouts can also happen in both directions. Statistically, upward breakouts are more likely to occur, but downward ones seem to be more reliable.
In most cases, the buyers will win this battle and the price will break out past the resistance. But Sometimes the resistance level is too strong, and there is simply not enough buying power to push it through. Therefore you should be ready for movement in EITHER direction.
ENTRY:
We would set an entry order above the resistance line and below the slope of the higher lows.
TARGET:
Target is approximately the same distance as the height of the triangle formation.
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Ascending Triangle Definition:
An ascending triangle is a type of triangle chart pattern that occurs when there is a resistance level and a slope of higher lows.
It is defined by two lines:
. A horizontal resistance line running through peaks.
. An uptrend line drawn through the bottoms.
The higher lows indicate more buyers are gradually entering the market and buying pressure increases as price consolidates moving further towards the apex.
An ascending triangle is classified as a continuation chart pattern.
If price can break through the resistance level, that level will now act as a support level.
Breakouts can also happen in both directions. Statistically, upward breakouts are more likely to occur, but downward ones seem to be more reliable.
In most cases, the buyers will win this battle and the price will break out past the resistance. But Sometimes the resistance level is too strong, and there is simply not enough buying power to push it through. Therefore you should be ready for movement in EITHER direction.
ENTRY:
We would set an entry order above the resistance line and below the slope of the higher lows.
TARGET:
Target is approximately the same distance as the height of the triangle formation.
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Head and Shoulders Definition:
A head and shoulders pattern is also a trend reversal formation.
It is formed by a peak (left shoulder), followed by a higher peak (head), and then another lower peak (right shoulder).
A “ Neckline ” is drawn by connecting the lowest points of the two troughs. Neckline support does not need to be strictly horizontal.
. This illustrates that the upward trend is coming to an end.
. When a Head and Shoulders formation is seen in an uptrend, it signifies a major reversal.
. The pattern is confirmed once the price breaches the neckline support
In this example, we can easily see the head and shoulders pattern.
How to Trade the Head and Shoulders Pattern:
ENTRY:
we put an entry order below the neckline.
TARGET:
We can also calculate a target by measuring the highest point of the head to the neckline.
This distance is approximately how far the price will move after it breaks the neckline.
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Head and Shoulders Definition:
A head and shoulders pattern is also a trend reversal formation.
It is formed by a peak (left shoulder), followed by a higher peak (head), and then another lower peak (right shoulder).
A “ Neckline ” is drawn by connecting the lowest points of the two troughs. Neckline support does not need to be strictly horizontal.
. This illustrates that the upward trend is coming to an end.
. When a Head and Shoulders formation is seen in an uptrend, it signifies a major reversal.
. The pattern is confirmed once the price breaches the neckline support
In this example, we can easily see the head and shoulders pattern.
How to Trade the Head and Shoulders Pattern:
ENTRY:
we put an entry order below the neckline.
TARGET:
We can also calculate a target by measuring the highest point of the head to the neckline.
This distance is approximately how far the price will move after it breaks the neckline.
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Inverted Head and Shoulders Definition:
A head and shoulders pattern is also a trend reversal formation.
It is formed by a Valley (left shoulder), followed by a Lower Valley (head), and then another Higher Valley (right shoulder).
A “ Neckline ” is drawn by connecting the highest points of the two Peaks. Neckline resistance does not need to be strictly horizontal.
This illustrates that the downward trend is coming to an end.
When a Head and Shoulders formation is seen in a downtrend, it signifies a major reversal.
The pattern is confirmed once the price breaches the neckline resistance.
In this example, we can easily see the head and shoulders pattern.
How to Trade the Head and Shoulders Pattern:
ENTRY:
we put an entry order above the neckline.
TARGET:
We can also calculate a target by measuring the lowest point of the head to the neckline.
This distance is approximately how far the price will move after it breaks the neckline.
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