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LET'S GET REAL: Stop Strategy Jumping!Hey Traders, This one is going to be a little bit different, a little bit deeper and a little bit harder to listen to rather than usual technical analysis. I recommend you sit down and listen to this. Have a think whether it relates to you or whether you found yourself in this position, or even if you've gone through this position and share your experience on how you go through it. A lot of traders struggle with their strategy, jumping from aspects of trading and that's why so many educators out there make a lot of money off of them. It is time to stop. In this video I outlay a challenge that I put to all the traders who may find themselves in this position to sit down and to thoroughly test their current or previous strategies and understand them on a deeper level. No more jumping around, no more looking outwards. Let's start looking inwards. Let's see the data that we have handed to us and what we can do to improve that data. If you enjoyed this video, please leave a comment. Leave a like, if we do get enough likes and comments, I will make a Part 2 on how to go about this with a more depth avenue while using different resources. As always, have a fantastic training week.
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Education
by the5erstrading
224
Bitcoin - Fishing for fools, don't be one!The problem is that BTC does not want to face reality, it is time to buckle under the weight of the death cross. It keeps pretending like it has the strength to defeat it by moving up once in a while but the truth is that to defeat a death cross it requires an astronomical amount of volume. Yes, exchanges can start pumping BTC anytime but we will only drop money in if the price hits the bottom of the current channel or one of the two X's in the triangle you see below. The X at the end of the orange line is the same as the bottom of the channel on the 1 day chart. DONT FORGET TO FOLLOW ME AND TO HIT THE LIKE BUTTON. The fact is that we are still trending down in what is called "Minor trends" which can be seen in smaller timeframes such as the 6H. And also trending down on what would be called the "Secondary Trend" such as the one on the main chart which you can see below again on the 1D. So what is happening on the primary trend? On that one, we are going up as you can see below -- which is best if you see it from a higher timeframe such as the 1Week or 1Month. To make the above charts more understandable you have to know that there are 3 types of trends: A primary, a secondary and a minor trend. We are in a bull market as long as the Primary is on an uptrend and yes we are going up for now. Where we make our money is on the parabolic moves during the secondary trends. I put all my money in once we hit the 200MA on the weekly which was around $3600 on Feb 18th and pulled out at $12,000 on the 2nd of July. I was able to make my money for the year at that point, it takes discipline and patience but you can get there too. Why did I say that BTC is fishing for fools? Because it keeps printing bull flags and other bull patterns to entice new traders in and if you fall for these patterns, as soon as you put your money in it crashes down eventually you will lose your entire working capital one small chunk at a time if you trade in this manner. Keep reading my posts, you'll understand what you did wrong and then you'll understand what you can do to correct it. THE TREND: Going Down, we have not made a new higher high THE OUTLOOK: Expected to go down, surprising if it goes up.
by cryptoGats
23
AUD/USD MONTHLY LOW, POTENTIAL BULLISH SWING/POSITION TRADEPrice Action (Technical Analysis): Current Price has just broke above a key monthly swap level (Respected Support & Resistance Level), knowing our rules to price action after breaking a level of structure minor or major we expect a pull back testing the previous structure before entering the trend. We sat through a couple of weeks in a consolidating market accumulating pressure for a big breakout. 2 Days ago we got that break above & an exhaustion. I'm anticipating an uptrend pennant to form building momentum before price attempts to break a highly respected trend line & before price continues to shine above key levels of structure. I am anticipating if price does break out the trend, the logical reason to enter would be confirming the correction at a key retracement ratio & previous structure pull back. Assuming this all goes down, we eye down potential areas to exit which would be our psychological levels 0.72000 & in between 0.73500-0.74000. Further Analysis will be made if price continues to break higher... Fundamental Analysis: With polls evening out in orders to go Bullish or Bearish. This upcoming week we have various high volatile folders which will definitely either push our pair up or down. If we see AUD turn out with a hawkish policy by cutting rates we will see price advance higher but to not be oblivious to the fact we also have to speculate USD News which can dump our entire Bullish analysis.
Long
by RiosTrades
1
EUR/GBP SHORT OPPORTUNITY ARISESPrice Action (Technical Analysis): Proceeding with Market closed currently we speculate price ended in a very key level of structure in the weekly time frame. We cannot assume for price to automatically reject and continue short. We see loss of momentum at our rally point, we respond with confirmations to go short such as a bearish breakout, price action reversal pattern & Fibonacci retracement levels. If price breaks above bullish, we allow price to settle at our next key level of structure which is our highest resistance level before we look to going short again. We need to anticipate where price goes in order to enter, not to jump in and gamble our position due to excitement. Fundamental Analysis: A little under 80% of Traders are Netting-Short, we can anticipate at the opening of the market to see an immense seller pressure push down, giving us reason find a potential entry towards the end of the exhaustion that'll take place after. We also have to be aware that institution can very well trick us to assuming price will pull back and continue short. 3-4 Confirmations will be needed in order for us to begin targeting key levels of support.
Short
by RiosTrades