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EURUSD-2

HOW TO TRADE A TRENDLINE SUCCESSFULLY USING MARKET STRUCTUREThis video entails the two major ways to trade a trendline. The major ways are trend continuation and trend reversal. This video explained the basic approach to trading trendlines. There are more advanced approach you can use with trading trendline which confluence trading. Confluence means backing up your analysis with another technical analysis tool. Example; using trendline plus moving average for trade analysis. We will talk on Trendline confluence trade in future video. Thank you for watching.
Education
by gasom
CHFJPY - Identify These Moves - FULL Breakdown 📚A key part of technical analysis is to identify the different phases and patterns in the market. So, what can we see? - We can see that we're within a major ascending parallel channel and price has been respecting it. When price approaches either extremes of the channel, it rejects aggressively. - There are 2 key phases at play here. The blue phase is the impulse and the red phase is the correction. - The impulse phase is an upward movement and the corrective phase is a downward move After identifying these phases, what next? - So now that we know that the impulse phase ends at the upper limit of the channel, we know there's a corrective move coming back down to the channel support. - If there's enough momentum, we can break the channel support and keep falling. As we're in an ascending channel, it is often a reversal pattern = there's a high chance that CHFJPY can come back down all the way to 109 - Now we need a trading plan to enter this trade How do we trade it? - The risk entry would have been at the rejection of the channel resistance - The safe entry would be to identify when the impulse has ended. One way we can do this is by identifying when the uptrend has ended. This can be done by using a trendline (like the one we have) and watching for a break to indicate that the uptrend has ended and the next phase has begun. Trade Idea: Watch for the ascending red trendline to break and enter with stops above the channel. First Target: Target the channel support for first targets (500pips) Second Target: The bottom of the channel (1,600pips) Hope this breakdown was helpful. If so, do leave a like and comment what you think!
Education
by WicktatorFX
16
DXY - How To Use DXY To Enter Trades 🎯For almost a year DXY has been in an uptrend but we may soon be at the end. Last Friday, DXY closed with a bearish candle at the double top region, indicating that there are al lot of sellers at that level. If we continue to show bearish pressure, we can soon end that uptrend and take advantage of USD weakness across the board. Here's a brief breakdown on how to use DXY: DXY up = USD Strength. DXY down = USD weakness 1. Analyse DXY for reversal zones and identify what the next move is 2. On this chart we can see that DXY is indicating bearish price action 3. Now that DXY is at an important level, go on to your USD pairs and analyse them 4. Find out if there's any XXXUSD LONG ideas or if there's any USDXXX pairs that are at the best place to SELL 5. Correlate the DXY movement with the USD charts e.g. DXY showing bearish price action which makes EURUSD buy a great idea as EURUSD is at a key level. Hope that helps! Goodluck and as always, Trade Safe!
TVC:DXYEducation
by WicktatorFX
9
MILAN OSCILLATOR INDICATORThe most important signals are related to the divergence. A recap for divergence from previous lessons: DIVERGENCE AND HIDDEN DIVERGENCE Positive Divergence is bullish and occurs in a downtrend when the price action prints lower lows that are not confirmed by the oscillating indicator. Negative Divergence is bearish and occurs in an uptrend when the price action makes higher highs that are not confirmed by the oscillating indicator. Bullish Hidden Divergence occurs during a correction in an uptrend when the oscillator makes a higher high while the price action does not as it is in a correction or consolidation phase. Bearish Hidden Divergence occurs during a reaction in a downtrend when the oscillator makes a lower low while the price action does not as it is in a reaction or consolidation phase. Other Signals can be crossing 0 lines or confirmation of change of bars colour.
BITSTAMP:BTCUSDEducation
by apadanaforex
What type of trader are you? Please comment belowHello friends, Today I thought in helping you understand different Forex Trader Types and probably you can identify yourself in which category you fit in so you know how to approach the market each day. There are 6 type of traders as far as I know: 1. News or Fundamental Traders ✅Fundamental traders focuses on Fundamental events that may potentially drive the market in a particular direction, causing spikes in a certain direction. ❇️This type of trading will be best for individual traders who likes to keep up with world events that can cause spikes in the market and seek to take advantage of these spikes that can last for a short period of time ranging from few seconds to 15 minutes. ✅This type of trading can be extremely risky as the market can change direction very fast which can cause a trader loosing his/her entire funds, but with good trading skills and experience this type of trading can be very rewarding and offers fast returns. ✅Fundamental Traders would seek to trade the Non-Farm Payroll data, employment figures, elections, CPI and GDP. 2. Scalpers ✅Scalpers are traders that focuses on holding positions for a short period of time from few seconds to a few minutes. ✅This type of trading requires a trader to sit on computer the whole day or during the time when the market is very volatile to take advantage of the small movements in the market to be able to make profit. ✅A trader may be inclined to take so many trades, making smaller profits each time to be able to make good return at the end of the day. 3. Day Trader ✅Day trader is more less like a scalper, taking short positions during the day and making sure that all positions are closed before the end of the day to stay away from negative news events, market gaps or widening of spread. ✅A day trader should be alert to changes in market direction and manage his positions swiftly and accordingly. 4. Swing Trader ✅Swing traders can hold positions for some couple of days and up to perhaps a couple of weeks. ✅Traders of this type analyses the market and take advantage of changes in trend direction and catch a trend while it is still fresh and ride this trend for a longer period of time before closing positions. ✅They would not be required to sit on computer the whole day. Rather, they would analyse, calculate the cost and take the position and they will only get back to computer after some couple of hours or another day to monitor the movement. ✅This type of trading is good for those that hold other businesses or jobs as they can make time for other activities to be done. 5. Position Traders ✅Positions traders hold trades for longer periods of time ranging from a several weeks to years. ✅For this type of trading patience is required to be able to hold trades for that long and a trader should have a very good knowledge about what moves currencies in a long term. ✅That also means that swap charges will be a lot and as a position trader he should put that into consideration before taking a long term position. 6. EA, Algorithmic Trader ✅These type of traders rely more or solely on computer algorithm programs to make buy and sell decisions for them. The EA also known as Expert Advisor may place trades on behalf of the trader and even closing trades when in profit. ✅Although the EA performs most of the work, a trader should also have basic knowledge of trading to be able to gain some measure of success from this type of trading. Why is it important to trade in your local currency? ✅It can save you from a lot of calculations. When you trade in a currency which is not your local currency, your mind processes so much information to convert every number to your local currency. Your mind will be tired at the end of the day and you will begin making unplanned trades. ✅I watched a video on this topic recently and this fellow mentioned the same thing that I always thought, when you trade in a currency which is not your own, you wouldn't respect money. For example, $50 US dollar would look smaller if you are a trader living and using South African Rand. You may want to wait for more to be satisfied as the number 50 may look smaller in the eyes. But if we convert USD50 to South African Rand it would be R725.38 today and for many that would be a 4 days wage. ✅Many traders, especially new ones in the Forex industry, they really do not know what they want and how to go about making things work out consistently for them, they only think if they keep buying and selling eventually they can hit a million dollar and get away from the financial distress and poverty. Probably that is how the Forex Market is perceived, that giant casino that makes people rich and such way of thinking can destroy one's life and everything he acquired for years. The most important thing here is to respect money, knowing that it is very hard to obtain. As we respect it in our homes, hiding it from our siblings or relatives, we should respect it on the MT5 or MT4. Money is like Gold in our days, if you really want to know how important money is, get a spade and go dig for Gold. I wish I could write more, but I feel like I have written more already and some people may find this boring to read. Please hit that like button if you learned something from here. Feel free to comment below what you have learned or the type of trader you are. Many Good wishes for you, Forexintelligence AKA the Sniper:)
FX:NAS100Education
by Forexintelligence_NA
10
✨ 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