Get started

EURUSD-2

✨ The Dejavu Effect ✨What is Dejavu? Dejavu is a term used to describe a feeling that one has lived through the present situation before. How does this tie in with the markets? Technical analysis is based on patterns repeating itself over and over again. Technical analysts believe past trading activity and price action can be valuable indicators to future price movement. How can we prepare ourselves? Some of the ways we can prepare ourselves is by doing the following: - Learning patterns that reoccur over and over again such as bull flags, wedges etc. - Identifying candlestick formations and understand what they mean e.g. shooting star candles means there’s a possible trend reversal from bullish to bearish - Learning to identify structure levels where price can react in the future - Understanding fibonacci and learning how to use it effectively. [Once we’ve identified a possible market dejavu moment, what next? Following identification, the next step is confirming whether this is in fact a similar move to historic price movements. The types of confirmations that can be used are the following: - Trendline breakout - Fibonacci rejection - Lower timeframe patterns - Moving average strategies __________________________________________________ EURUSD - The Dejavu Effect 1. Bullish Correction. We identified a falling wedge which resulted in price moving higher. 2. Bear Correction. The bullish move was short lived with a bearish correction which resulted in… 3. Three Wave Falling Wedge. This falling wedge pushed price up to the double top region. 4. Ascending Correction. The move up to the double top could be monitored using an ascending trend line to monitor the correction. 5. Minor drop. Once price broke down, we had a minor drop. 6. Major drop. After another small correction we had a major drop. Notice how we didn’t specify whether we were talking about the Blue phase or Red red phase… Dejavu.
Education
by WicktatorFX
18
Entries live examplesHere is an update to my previous idea on entries. I kept rambling on and on so this was too big for an update. Since you can't possibly cover the entire subject even in an entire book, let's go with 2 examples live, not in hindsight. They might (probably maybe even) just fail. Maybe I'll start a new idea with more 3-4 new ones, so we can look at entry + getting stopped (-1R) + trailing + target etc. Or maybe markets start trending a lot and I'm absorbed and can't be bothered posting. I don't know. Don't have a crystal ball. I want to update this with 2 live examples, and see how they go (probably both lose) 1- Here is an example where you only need a 15% winrate to make money. Price sometimes consolidates, stays within a range, and then goes down, at least often enough to breakeven right? Oh ye this goes beyond entry but basically before analysing much, the "pattern" or "price action" in itself should at least breakeven, it should have a chance to work. The risk being limited is what matters, like George Soros with the bank of England, he entered where he was close to "being wrong" (without being greedy trying to enter 5 pips from stop), same with Buffett, he enters when things look bad and could be about to turnaround or it could just be "the end" so he enters close to "being wrong". I don't like the words being wrong because this is not what it is, call it instead "trade invalidated". If I say something happens 20% of the time and it happens 20% of them that does not make me wrong 80% of the time, but rather right 100% of the time. This is something I did not mention before: as far as I, and everyone who isn't a troll, can tell: the price in sideways is random. So it does not matter where you enter in that area. How dense is it to try to catch the "magical perfect entry" in a RANDOM price action? You don't know where when why the price will go. If there was a magical entry then people could trade these sideways and make money, and to my knowledge the only people that do are retail day traders on the internet. This is not the best setup, but no setup is ever the best anyway so... Disclaimer: I am short NZDUSD. Net position will be short EURUSD actually XD But the EURUSD price action was just bad ye I don't know where to enter so it matters. The NZD isn't looking that bad after all. The EURUSD I think goes down, but chart looks disgusting, no way I can tell where to enter. Random sideways in a small area versus random sideways in a giant area. The different is risk to reward. Find the tool to express your ideas with the best RR. Now there are some added spreads but it's fine, not like I day trade with a stop 3 times the size of the spreads. And I might rotate back to being short the NZD, I kind of adapt all the time. If I get stopped on EURNZD and I have no good opportunity to short EURUSD or my opinion of it going down diminishes (it's not binary by the way you have to think in probas), and NZDUSD continues down, well in that case I won't be short EURUSD anymore, and might even increase my NZDUSD size (but only when a pullback happens). So ye that part is binary for me, and for Warren Buffett too by the way: Me: No pullback I don't buy WB: No discount, no PE below 10 (or something) = I don't buy. But I don't care about catching the very bottom or having an exact precise entry. Since Warren Buffett does it that way, and made billions, I think it's safe to say it's ok to do it that way too, even if he traded "investing" markets and we are talking about "hedging" markets here. 2- FOMC on the 22. Might have to wait until then, or Monday at least (market could move Monday in anticipation). Here I think the entry matters :p The number might not (oh yes actually it does) but the date does (or more). Odds of it being a coincidence are really low. Statistically this has absolutely NOT been a coincidence. Here I'm supposed to emphasize the "been", and go "past performance does not bla bla bla" I mean... If I have to explain this in the first place... If an "individual investor" needs this explained to them, well this is the wrong job for them. This is so trivial. Ye, the stupid pattern might repeat itself, I'm willing to risk 1 to make ??? 10? If it keeps going? Past bull markets lasted 1.5 - 4 years so statistically I could make 10 or more. I don't have any clear stats on this pattern, how often do they repeat themselves, would be too simple, anyone with more than 2 fingers and the ability to spell their name and count to 10 would make money. Which is not everyone, USA universities have "special classes" for "high school graduates" that are illiterate and have a lower math level than ravens. So... with everyone becoming suprisingly dumb, AND the "dumb money" getting interested in the market... my odds of winning and making money go up. There is much more to take into account, like the FED manipulating markets. But here the entry matters. Like when you have something that had 1/65 million odds of happening, you can't ignore it. You could say "hey maybe they created this on purpose to trick people"... That isn't a real thing. By experience it does not happen, again, statistically. FOMC is the 21-22. FX & commodities should move too once "certainty" comes back. Inch'allah things get moving on the 20 (monday), but either way we should go allelujah on the 22. Praised be Yahweh for making some people smart and some people dumb. And Dionysus if things don't work out.
CME_MINI:ES1!Education
by MrRenev
2
How to Identify Market Structure and Increase Your ProfitabilityHave you ever wondered, when is the best time to trade? It all depends on what market structure is present at the current moment. There are 3 different types of market structure: 1. Ranging 2. Trending 3. Indecisive During a ranging market, prices can turn rapidly so taking profits quickly is crucial. Not optimal market conditions but can be traded if you don't get greedy. During a trending market, prices can keep continuing in one direction and not look back. It's better to be more lenient on rolling your stops. Expect the trend to continue and trade accordingly. Once the trend ends, sit back and wait for a clear picture of the market. During indecisive markets, you want to stay out! Don't touch. Avoid at all costs. I appreciate you investing your time in your future. Much Love Dil
Education
by justlivingmylife
Creating A Trading Plan and Executing A TradeCreating A Trading Plan and Executing A Trade As with all great trades, we require a trading plan. This is a perfect example of how to analyse, execute and manage your trade. See linked chart for the initial trade idea. See below for a step by step guide on how we entered this trade and what we looked for. Goodluck and trade safe! Mar 26 Comment: First step: Identification. You have to identify when a trade set up is coming. For this pair, we were waiting for the ascending wedge to break down. From this you can see that we had an impulsve break of the ascending wedge indicating that the trend is about to reverse. We also marked out an area of interest where price may come back to retest. Second step: Preparation. We now wait for price to retrace back to the area of interest. We should also attempt to draw a trendline on the smaller timeframe to allow us to monitor the correction and get ready for the next step, execution. We now wait for the correction to break. Entry is on the break of the correction with stoploss just above the correction. We use the start of the correction as the first TP or a level to put our trade in breakeven. For this set up, the stoploss was only 30pips and first target was 106pips (Risk reward 3:5)
BINANCE:BTCUSDEducation
by fxpremiere
EURUSD forecast / trades takenHey everyone. Just an update on the trade last night. As you can see we had a HTF buy range (1hr) where price came back into the discounted section. We then had a 30min range bar mitigation which created a large reaction to the upside so we can say this is where a money transfer has taken place. Subsequently this made our new buying range and yet again price came back into the discounted area and gave the lower time frame entry, there were a few ways of getting into this trade and it also gave scale ins if it was missed. Price then was heading into the daily premium region so we knew we needed to be partialing out of this trade as we pass through and mitigate the levels of supply, these supply levels were creating pullbacks to continue up however given the HTF area we are it is very wise to partial heavily where we did. Anyone everyone, theres a bit of an insight into one of the team trades last night in the Newyork session. Happy trading ladies and gents and i hope you learnt something.
Education
by Bill-from-The-trading-Cartel
1
AUDUSD - How To Trade This Channel! 😍 📚AUDUSD is in a really nice channel where price is respecting both the limits of the channel. We saw a nice bounce off the channel support and looks like we'll be heading towards the channel resistance very soon. The basic rules of trading within a channel are the following: - Buy on bounce off channel support - Sell on rejection off channel resistance - Stoploss outside of the channel - Targets should be the outer limit of the channel ** For descending channels, the move down will always be bigger than the move up ** For ascending channels, the move up will always be bigger than the move down Do your best to identify channels in your trading - easy trades! Goodluck and as always trade safe!
Education
by WicktatorFX
5
AUDUSD - How To Trade This Channel! 😍 📚AUDUSD is in a really nice channel where price is respecting both the limits of the channel. We saw a nice bounce off the channel support and looks like we'll be heading towards the channel resistance very soon. The basic rules of trading within a channel are the following: - Buy on bounce off channel support - Sell on rejection off channel resistance - Stoploss outside of the channel - Targets should be the outer limit of the channel ** For descending channels, the move down will always be bigger than the move up ** For ascending channels, the move up will always be bigger than the move down Do your best to identify channels in your trading - easy trades! Goodluck and as always trade safe!
Education
by WicktatorFX
2
Back Testing The Previous Weeks Price Action - P.1What's going on traders! This is a review of August 9 2021 Price action where I will be Backtesting NY Session. Backtesting will be crucial to your success as a trader, even if this is in hindsight. It will help ingrain these trading principles into your subconscious. When you can start taking trades subconsciously and not consciously, you will void yourself from the emotions that will destroy your trading results.
Education
by justlivingmylife
1
Best Candlestick Patterns Long Wick (Shadow) Candle: Buyers or sellers tried to push the price further but failed The inside bar: After a long wick could mean price change Also engulfing is a reversal signal. Momentum candle: Multiple rejections: Good resistance and sign of price rejection and reversal Shrinking candles: Loss of momentum 3 consecutive candles in the same colour: indicate the start of a new trend. Big red candle: bearish Doji: Open and close are similar and we have shadows on both sides. Can be a signal for reversal if the next candle shapes in a different colour from the previous one. Hammer: bullish Inverted hammer: bearish
Education
by apadanaforex
EDUCATION - TOP REVERSAL PATTERNS ⚡At the end of a trend, there is a typically a reversal pattern indicating to us that the trend is about to reverse. There are 3 main patterns that you NEED to know. 1. Double Top/Double Bottom A double top/bottom pattern is a chart pattern that consists of 2 consecutive peaks of similar height indicating that there is not enough buying/selling pressure to surpass the extremes of the price. This leads to a reversal in trend. Double top is a bullish to bearish trend reversal. Double bottom is a bearish to bullish trend reversal. For a safe entry, entry would be after the break of the neck line (the last swing point) which is a confirmation that the it is a valid double top/bottom pattern. Double Top: 2. Rising Wedge/Falling Wedge A rising/falling wedge is a chart pattern that occurs when price is making higher highs and higher lows (in an uptrend – rising wedge) and lower lows and lower highs (in a downtrend – falling wedge). As the pattern progresses in the wedge, the range of the price contracts and is confined between 2 lines which get closer. Price eventually breaks out of the wedge and creates a reversal. Rising wedge is a bullish to bearish trend reversal. Falling wedge is a bearish to bullish trend reversal. For a safe entry, wait for a breakout of the wedge to confirm the validity of the wedge pattern. Rising Wedge: 3. Head & Shoulders/Inverse Head & Shoulders A head and shoulders pattern is a chart pattern that appears as a baseline with three peaks. The outside two peaks (shoulders) are close in height and the middle is highest. A normal head and shoulders is a bullish to bearish trend reversal. An INVERSE head and shoulders is a bearish to bullish trend reversal. For a safe entry, it is often advised to enter on the break of the neckline as that would be confirmation of the head and shoulder pattern. Inverse Head & Shoulders: Do your best to find them in your analysis!
Education
by Altsignals
3
EDUCATION - TOP REVERSAL PATTERNS ⚡At the end of a trend, there is a typically a reversal pattern indicating to us that the trend is about to reverse. There are 3 main patterns that you NEED to know. 1. Double Top/Double Bottom A double top/bottom pattern is a chart pattern that consists of 2 consecutive peaks of similar height indicating that there is not enough buying/selling pressure to surpass the extremes of the price. This leads to a reversal in trend. Double top is a bullish to bearish trend reversal. Double bottom is a bearish to bullish trend reversal. For a safe entry, entry would be after the break of the neck line (the last swing point) which is a confirmation that the it is a valid double top/bottom pattern. Double Top: 2. Rising Wedge/Falling Wedge A rising/falling wedge is a chart pattern that occurs when price is making higher highs and higher lows (in an uptrend – rising wedge) and lower lows and lower highs (in a downtrend – falling wedge). As the pattern progresses in the wedge, the range of the price contracts and is confined between 2 lines which get closer. Price eventually breaks out of the wedge and creates a reversal. Rising wedge is a bullish to bearish trend reversal. Falling wedge is a bearish to bullish trend reversal. For a safe entry, wait for a breakout of the wedge to confirm the validity of the wedge pattern. Rising Wedge: 3. Head & Shoulders/Inverse Head & Shoulders A head and shoulders pattern is a chart pattern that appears as a baseline with three peaks. The outside two peaks (shoulders) are close in height and the middle is highest. A normal head and shoulders is a bullish to bearish trend reversal. An INVERSE head and shoulders is a bearish to bullish trend reversal. For a safe entry, it is often advised to enter on the break of the neckline as that would be confirmation of the head and shoulder pattern. Inverse Head & Shoulders: Do your best to find them in your analysis!
Editors' picks
Education
by Altsignals
51
Always save lossesTrading without a save loss ruined me. It took me an year to come into agreement with myself that I will never beat the market. Furthermore using a save loss call for responsibility. Below are the benefits according to me 1. It has helped me define my entries and exit points more accurately. 2. Am more patient, knowing that I might lose prompt me to wait for a more ideal trade setup 3. Am now trading higher timeframe because the charts are cleaner and support and resistances more likely to hold. Losses are painful, it's even more painful if unanticipated and unplanned for. Remember @ Trade the markets but protect your heart. Plan a trade, wait then trade the plan. Good luck 💙
Education
by Ygideon
1
Round Numbers on Mirror ChartsTradingview provides unique opportunity to watch round numbers both EURUSD and USDEUR. Round numbers do work as support and resistance. Perhaps the only levels that one can rely on. But it should be remembered that American continent watches and trades primarily USD vs EUR, while in Europe it is the opposite case. Watch for round numbers confluence on mirror (inverted) charts, i.e. USDEUR and EURUSD to find true sopport and resistance. The top of eurusd was round number confluence 0.81 - 1.23 level. Right now, the major resistance is 85 level (usdeur). If price will get through that it will stumble at 1.17 (eurusd)
Education
by ICFX