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Eurusd-3

EURUSD: Bullish or Bearish??? hey guys, analyzing the price action on EURUSD we may notice that: 1.14 is our current structure high once it was reached, the price dropped to 1.123 structure support and failed to retest the high, setting a lower high. then one more retest of horizontal support. equal lows and a new bullish movement brought a lower high again. for now, bulls are clearly losing momentum. with 4 lower highs in a row, each consequent bullish leg is contracting. the price is currently testing the green support again. being broken to the downside, buyers will most likely lose their confidence, and selling reaction will be triggered. next goal for sellers will be: 1.115 for bullish scenario, we need a 4H violation of the last lower high level. the next goal for buyers will be: 1.129 (previous lower high level) both scenarios are equally possible but I am personally on the bearish side. How about you?
Education
by VasilyTrader
24
EURUSD 1H RENKO CHART STRATEGY #2The second simple Renko Trading Strategy system is an indicator based strategy that uses price-momentum divergence to identify trend reversals. Renko Trading Strategy #2 For this Renko trading strategy, we only need to use the RSI indicator. We can use a 14- period or a 20-period RSI indicator. So, use the same period as the ATR 14 or 20 Renko brick size. After we spot the momentum divergence an entry signal is triggered once we get a reversal. On the Renko chart, a trend reversal is set in motion once the brick changes color. In this case, when we spot a bearish divergence, enter a short position after the brick turns red. For bullish divergence, wait for the brick to turn green. We exit our profitable trade once another reversal pattern is formed in the opposite direction of our trade. As a method to protect our account balance and not lose too much, you can place your SL above and below the swing point developed after your entry. A lot of the noise inherent in regular time-based charts are eradicated. So, if you trade with Renko charts, spotting divergence and trend reversals are a lot easier. The RSI is the best indicator to use with Renko. Read the previous Renko Chart post to learn about Renko chart system.
Education
by Tradingstrategyguides
1
EURUSD 1H RENKO CHARTRenko Trading Strategy #1 This profitable Renko strategy you can use is to focus only on the bricks. No additional technical tool is required for this system. We’re going to explore a very simple and yet very powerful Renko chart pattern that incorporates the wicks. This Renko price pattern looks for two consecutive bricks of the same color and both bricks have wicks. The location of this Renko pattern doesn’t really matter. It can be at the end or middle of a trend. This pattern has a very high rate of success if traded in the right context. You have to look around these two brick patterns and make sure the blocks are not moving back and forth within a trading range. If that’s not the case, then you have a green light to take the signal generated by this trade setup. The entry is on the third brick after the two bricks that have wicks. The stop loss can be placed above the wicks and exit once a reversal pattern is produced. Conclusion – Renko Trading Strategy Renko bars ensure that you have a cleaner and neater representation of price action. If you’re having a hard time reading the price on a candlestick chart, maybe it’s time to look in another direction. Trading with our profitable Renko strategy can be the perfect fit for you. We truly believe that Forex Renko charts are more suitable for traders who still struggle to analyze a candlestick chart. The Renko trading strategies presented through this trading guide are just an introduction into the world of Renko bricks. We hope you now have a clear idea of what the possibilities are by using this new charting technique. When you’re actively trading the markets (scalping, day trading) it’s important to have a methodology to clear out the market noise. The Renko trading strategy is time-independent and gives you an eccentric way to view price action. Even though the free Renko charts can be used across different asset classes, including cryptocurrencies our simple Renko system is designed, but not limited, to be used in the Forex market. What are Renko Charts? A Renko chart is a technical tool or a type of chart that is built by only using price data. Unlike the Japanese candlestick charts, which are built using price, time and volume, the Renko chart only measures price movement. Renko has no time dimension. Renko charts are not some long-hidden secrets dating back to feudal Japan times as some trading gurus would like you to believe. Renko bars were actually developed several decades ago. The name Renko means brick in Japanese and comes from the word “renga.” These charts are sometimes referred to as brick charts by traders. Steve Nison who is the father of modern candlestick charting is the man who actually made Renko charts forex known to the general public. These charts are often compared to traditional candlesticks but have some key differences. While candlestick charts have varying lengths of “wicks” throughout, Renko bricks are all the same size. The simplified bricks found in Renko charts make it easier to read the market and make quick decisions. These charts are ideal for day traders, though they can be used by traders using any timeframe. By removing the noisier parts of the candlestick chart that apply to longer-term trading strategies, Renko charts make it possible to determine where the market is actually moving. Every candlestick on the Renko chart is called a brick because it has the shape of a building brick. The rectangular bricks used for building walls are about the same size. The same goes with Renko charts; every brick is the same size. The size of a Renko brick is pre-determined by the user. How to Read and Build a Renko Trading Chart Reading a Renko chart is simple. Because the bricks have a fixed size, they can all easily be compared to one another. The color (and direction) of the Renko brick will change once the value of the previous brick has been exceeded. This indicates to traders that trends are changing and that the price is likely to swing in the opposite direction. Each brick represents a price range (example – $0.25). However, while the bricks are evenly sized within the same graph, they can be adjusted to your trading objectives. Individuals opening and holding longer, high-cap positions will use different brick sizes than penny stock day traders. We recommend using the average true range—or, ATR for short—in order to construct each brick. The ATR is derived from the closing price of the stock. This means that a Renko chart is a lagging indicator. In the next step, we will show you how to read Renko bars. Note #1: if you use Renko bars with wicks or tails, then some bricks may display additional wicks either at the top or the bottom of a brick. But the brick size remains the same. On the Tradingview charting platform you can go to Chart Settings – Style – Wick, and select which way you want the bricks to be displayed, with or without wicks. Before returning to the Renko bricks with wicks, let’s give you the basics or the foundation of a Renko brick. We already established that the brick size is pre-determined by the user. If you’re trading with Renko charts, and your preferred brick size is 20 pips, then bricks only form when price moved either up or down by 20 pips. The best way to illustrate this concept is to look at Renko blocks through the eyes of the candlestick charts. In the EUR/USD 5-minute candlestick chart below, we highlighted areas of 20 pips worth of price movement. A green Renko brick would form only after the price will advance 20 pips. Conversely, a red Renko brick would form only after the price declines 20 pips. As you can tell, the time intervals between each brick are inconsistent. It’s clear that Renko is less noisy and cuts through a lot of the noise between the swing low and swing highs. Important note: When you trade with Renko charts, the price needs to travel double the price distance of your brick size in order for the Renko brick to change color. For example, if the brick size remains 20, it means that we need to actually move 40 pips for a red brick to be printed after we had a green brick. Let’s return for a second to why some blocks have wicks? Trading Renko charts with wicks can be a very powerful tool in your trading arsenal. Bricks with wicks give us further clues on the battle between the bulls and the bears. A wick is printed on a Renko brick only when there is a strong attempt to produce a reversal (a change of brick’s color from green to red and vice versa), but it fails. The wick will simply show you how many pips it went in the opposite direction. Note #3: a wick is printed on a brick only when the price moves in the opposite direction of the previous candle by at least the length of the brick size +1. Let’s see how you can optimize the Renko block, and how to choose the right Renko brick size. How to choose the right Renko Brick Size? If you don’t know what the right size for Renko charts is then, we have a solution. If we want a dynamic reading of the price through the Renko blocks, we can use a brick size that is determined by the ATR (Average True Range). Instead of picking a random brick size, this will give you dynamic support and resistance levels that are more accurate. The ATR will automatically detect the right brick size that is more in tune with the price action. Note #4: The disadvantage of using an ATR based Renko chart size is that when the ATR value changes, your Renko bricks are redrawn again to reflect the new changes. When selecting your Renko brick size, ask yourself the following questions: What are my objectives as a trader? What are my time constraints? What is the cost of trading? Am I opening small positions or larger positions? Do I consider myself risk-tolerant or risk-averse? If you are pursuing large, lower-risk positions over longer periods of time, then it will make sense to use a larger Renko brick size. On the other hand, if you are pursuing high-risk positions that require paying close attention to volatility, then smaller bricks will be better.
Education
by Tradingstrategyguides
2
Scalping opportunity on the 1m/3m/5m timeframes .....Those that like to scalp or want to learn can using our strategy. Its very clear to see how to follow price as shown - also our members can test using our strategy tester and hone in on the settings and parameters even further. However, this video is just showing standard settings. Either follow price or use the labels for SL and TP targets. Part close at TP2 and leave TP3 until the reverse signal or SL to entry, could work too. Lots of different ways to manage the position once you are in - even taking 15 pips a time would have worked a treat. Regards Darren Blue FX
Education
by pow_removetheguesswork
4
EURUSD 4H PIN BAR SHORT TRADE STRATEGYBasic Guidelines: Timeframe – ANY Market – ANY Indicators – NONE OTHER – Trend lines, horizontal lines, support resistance lines (anything to help you find these areas). Step 1: Find a Pin Bar On Your Chart. *Note This is a stock price action strategy, and a forex price action strategy. I will use a currency pair as an example. Price action charts are with any market and timeframe. First, identify a pin bar that has formed. In the example, this is considered a bearish pin bar because of the long wick above the body. As you can see, the pin bar “wick” is above the body, which is considered a bearish pin bar. In this case, we are looking for a downtrend bounce of the top of the range. This is a 4 hour time chart EURUSD currency pair. You can see the Bears tried their hardest to stop this uptrend from occurring. The Bears were too strong, which is why you see the pin bar form. This is a perfect example of a pin bar price action reversal setup. Step 2: Look for Past Price Action to Determine Why The Pin Bar Formed. Why did the reversal suddenly hit a price, and then continue to the downside? We can see price has been in a range pattern for quite some time. Note** you can either look at the current time frame you are on, in this case, a 4-hour time period. Or you can bump up or down one or two periods to gather information. Resistance in the past can mean support in the future. What happened is the price hit this level but failed to break through it. Since the long bullish wick formed, we decide it is time to enter this trade based on what we learned from the prior days. This is what Price Action is all about. No two trades are the same. However, we can take what we’ve learned from the past. Then make the best judgment as to where the price is going in the future. You are essentially like a detective when you trade price action. The point is to gather many pieces of evidence to back up your conclusion. You are trading with confluence. Sometimes simple is best. Study the charts and form an educated conclusion as to where the price will go. Step 3: Trade entry You just enter the trade 2-3 pips from the break of the nose of the pin bar. Step 4: Stop loss Place the stop loss 3-5 pips away from the wick. The end of the wick will be a support area. So if this is broken the trend may continue downward. Which is why you place your stop 3-5 pips away from this. Step 5: Exit Strategy Your exit strategy is when you hit the first level of support or resistance on your chart. As you can see, the price hit a point then stalled out. Once we see the price action stalling out, we exit the trade immediately. Conclusion – Price Action Pin Bar Strategy Price action is another fundamental element to learn when trading the market. There are thousands of strategies you can use with price action. It is important to find something that works for you. These pin bars are hard to miss. They are relatively accurate when you learn why a pin bar formed. Pin bar candles are shown in any time frame. The rule of thumb is, the higher the time frame, the stronger the signals. But that does not mean that this will not work on a five-minute time frame. Do not trade every pin bar you see that forms. Gather up key information from the charts. Then form the best conclusion to determine if you should enter the trade based on the rules.
Education
by Tradingstrategyguides
5
$MATIC : Possible Cat Ears Pattern; a small study.Possible Cat Ears pattern, note that i said possible. A cat ears pattern is found after a downtrend and consists of two "ears" which you can see above. Its a downtrend continuation pattern but it has a HIGH FAILURE RATE which means you are probably better off looking for long setups on it. A cat ears pattern has 6 variations, follow the link here and you can see for yourself on Thomas Bulkowskis website: (Look at the picture with 6 variations, example #3) www.thepatternsite.com One variation is as follows: -Downtrend -Sideways trading -Spike one (1st ear, higher) -Sideways trading -Spike two (2nd ear, lower) We are in the middle of spike two, its currently trying to hold the 0.618 fib as support, BUT if this does not hold and we come down to the outlined breakout level then we can see a rejection or breakout of the car ears pattern. So we watch, if it comes down to the bottom breakout level, it can fakeout below the support then close above, breaking the diagnol downtrend resistance line. Or the pattern plays out, but altcoins are looking quite good atm so i doubt that, Theres a chance we dont even come down to finish painting the 2nd ear and go from here. This idea is pure theoritcal and im only posting it to backtrack on later to see if we complete the pattern and how it does play out.
MEducation
by Worth_The_Ri5k
3
EURUSD: Key Levels EURUSD started a strong bullish movement. Multiple strong resistances are ahead. Key levels based on 3 days chart analysis: Resistance 1 - 1.11 level based on a resistance line of a major channel + horizontal 3 days/daily structure Resistance 2 - 1.12 level based on a horizontal weekly/3 days/daily structure Resistance 3 - 1.15 levels based on a horizontal weekly/3 day/daily structure + it is this year's high Closest supports are: Support 1 - 1.0975 level based on a recently broken daily structure Support 2 - 1.08 level based on a horizontal 3 days/daily structure pay attention to the lower timeframe once the market reaches one of these levels to catch a pullback or reverse
Education
by VasilyTrader
12
EURUSD H4Price was in a consolidation phase at monthly support, showing that the sellers were failing to break through this level after 3 attempts. Price then broke out of the consolidation range to the upside creating a higher high into resistance. Then a pullback occurred to retest the previous range as new support to create a new higher low in the new uptrend, where then a continuation to the upside took place to make a new higher high next. Now that price has made a new high, will be watching for a similar scenario to create a higher low into previous key level resistance to retest as new support. From there a continuation of uptrend can be anticipated next. Free public telegram channel link is in bio.. Thanks for the support! : )
Education
by Profound_Ambition
11
Where Euro turns?As you see if price breaks monthly A or C pivots (of Fisher's ACD system based on opening range) it usually turn at classic monthly R1, S1, sometimes reaching R2, S2...and very rarely S3, R3 (in case of extreme volatility as with covid or some major crisis). Why so? Bcs most American institutional traders use floor pivots for targets. BUT keep in mind we are in the end of the month and June 2nd we will have new monthly opening range and new A and C pivots. Today bullish move stopped at monthly R1. I suspect price will return to A pivot. This system is great trading map.
Education
by ICFX
BEST INTRADAY TRADING STRATEGIES - BIG 3 - 80 20 RSI - STOCHAST Question: What is the best trading strategy for Intraday? Answer: Intraday trading will take a great deal of your time. This is because you will be focusing on the charts all day that you will be trading. This type of trading requires a great deal of focus. Make sure the focus is one of your strengths. If you cannot focus, intraday trading will be extremely difficult for you to master. KEY TAKEAWAYS. Intraday is shorthand for securities that trade on the markets during regular business hours and their price movements. Day traders pay close attention to intraday price movements, timing trades in an attempt to benefit from the short-term price fluctuations. Scalping, range trading, and news-based trading are types of intraday strategies used by traders. Here is a list of strategies that we have compiled that work well for intraday trading: Big Three Trading Strategy. RSI Trading Strategy. Stochastic Trading Strategy. Big Three Trading Strategy. Trading Indicators list: 20 Period Simple Moving Average. 40 Period Simple Moving Average. 80 Period Simple Moving Average. Step 1 Apply Indicators to Chart. You can make them green, blue, red, pink, etc. The color is your personal preference. Again these are 20, 40, 80-period Simple moving averages. These are the best trend forex indicators and will help you determine trends and every time frame. After studying charts and applying different moving averages, we discovered these three work very well together for this strategy. This is why we called them the big three 😉. Step 2 of the best three trading indicators strategy: The Trend… Up or Down? Once your “Big Three” indicators are on your chart, go ahead and find a current up trend or downtrend. To find the trends, simply look at where the price action is. Then determine if it’s above the moving averages or below. If the price is above the three moving averages you have an uptrend: However, if the price is below the three moving averages then you have a downtrend: If the market is flat and the price action is not making a new high or low and just staying stagnant. I would avoid this type of market because we are looking for a trending market, not a flat or “sideways” market. Step 3 – Wait for the entire candle to close outside of Moving averages + Pull Back in Price Action + Continuation of Trend Wait for the price close below the lowest moving average in a downtrend: Or, Wait for the price close above highest moving average in an uptrend: Once you see this occur, you wait for the price to pull back and then move in the direction of the trend to make your entry. To determine this you can either go to a lower time frame or stay in the current time frame. Ensure the entire candle closed completely below or above the moving averages. The price action does not have to necessarily go back and touch the moving averages (which does occur). But you need to confirm there was a pullback in the price and then a continuation of the current trend. I prefer to wait for a break pullback before I go because, statistically, the price will most likely retrace during a bearing or bullish trend. For a more risky approach to this strategy, you could technically get in a trade right when the price breaks the highest or lowest moving average. But this method may cause more harm than good. The reason is that not every time it breaks these lines it is headed for a strong up or downtrend. Which is why you need to wait for a FULL candle to close above/below these lines. Wait for a pullback and go to enter the trade. What happened? ✓ Broke the above the moving average lines. ✓A full candle closed above the lines ✗ Retracement and the continuation of trend = this did not occur so you would not have entered the trade! It did retrace, however, the price did not continue to go in the direction of the trend. We need these three elements for the trade to occur. Which is why we call this the “Big Three” Trading Strategy Three different steps to find a trade and execute it. Stop Loss/Take Profit : Place your stop loss below the bottom moving average line. Depending on what time frame you are in will vary on how large your stop is. Scalpers may have a tight 5-10 pip stop While day traders will have a 30-50 pip stop Your take profit is when the price touches the 80-period line. The price crossed this line at +196 pips! You can tweak these rules as you wish. But we found the best way to push your winners with this strategy is to wait until the price touches the 80-period line. Conclusion Big Three Trading Strategy is fun to use and trade with. It is not very messy on your chart because there are only three little lines to look at. Our team believes this strategy uses the best three trading indicators that work well together. The moving averages are arguably the most popular forex indicators. 80 20 RSI Trading Strategy. RSI Adjustments: 14 period, to 8. 70 and 30 lines, to 80 and 20. This indicator comes standard on most trading platforms. You’ll just need to make the adjustments above. How to Trade with the RSI Trading Indicator This indicator will be the only indicator we use for this strategy. This is because we have a strict set of rules to follow before entering a trade. And these rules will, without a doubt, validate a reversal for us to open a trade. Before you use this strategy, make the above following changes to the RSI indicator: Step One: Find the currency pair that is showing a high the last 50 candlesticks. (OR low depending on the trade) The 80-20 Trading strategy can be used for any period. This is because there are reversals of trends in every period. This can be a swing trade, day trade, or a scalping trade. As long as it follows the rules, it is a valid trade. We also have training for building a foundation before a forex strategy matters. In this step, we only need to ensure it is the low or the high of the last 50 candles. Once we determine this low or high, then we can move on to the next step. I drew vertical lines on the price chart so you can see the 50 candle low that we identified. If you need to use horizontal lines on your chart to verify that the candle has closed the lowest the last 50, you can do so. This is not necessary but may be helpful for you to do and see how strong the trend is. Step Two Using the RSI Trading Indicator: When we find 50 candle low, it needs to be coupled with RSI reading 20 or lower. (If it’s high it needs to be combined with the RSI reading 80 or higher.). In our RSI chart we have a reading that hit the 20 line on the RSI and was the low the last 50 candles. Once we see that we had a low, the last 50 candles, and the RSI is BELOW 20, we can move to the next step. Remember that this strategy is a reversal strategy. It is going to break the current trend and move the other direction. Step Three: Wait for a second price (low candle) to close after the first one that we already identified. The second price low must be below the first low. Although, the RSI Trading indicator must provide a higher signal than the first. Remember that divergence can be seen by comparing price action and the movement of an indicator. If the price is making higher highs, the oscillator should also be making higher highs. If the price is making lower lows, the oscillator should also be making lower lows. If they are not, that means price and the oscillator are diverging from each other. Which is why it’s called “divergence.” Just because you see a bullish or bearish divergence, doesn’t mean you should automatically jump in with a position. We have rules in place that will capitalize on this divergence so that we can make a significant profit. Keep in mind, that this step may take time to develop. It is very important to wait for this second low because it gets you in a better trade making position. Price goes down/RSI goes up. That is the Divergence. Remember that our example is a current downtrend looking to break to the upside. If this was a 50 candle high, we would be looking at the exact opposite of this step. Once this criterion has been met, we can go ahead and look for entry. This is because the charts are showing us that a reversal is coming soon. Step Four: How to Enter the Trade with the RSI Trading Strategy. The way you enter a trade is very simple. You wait for the price to head in the direction of the trade and wait for a candle to close above the first candle that you identified that was previously 50 candle low. If you are struggling with this step, save the picture for reference. This will help guide you when looking for a trade. Step five: Once you make your entry, place a stop loss. To place your stop, bump back 1 to 3 time periods and find a reasonable, logical level to put your stop. You are looking for prior resistance, support. We placed our stop below this support area. That way if the trend continued and did not break, it could hit this level and bounce back up in our direction. I recommend you follow at least a 1 to 3 profit vs. risk level. This will ensure that you are maximizing your potential to get the most out of the strategy. You can adjust as you wish. Keep in mind that most successful strategies that identify breaks of a trend use a 1 to 3 profit vs. risk level. Stochastic Trading Strategy. Step #1: Check the daily chart and make sure the Stochastic indicator is below the 20 line and the %K line crossed above the %D line. We’re day trading, but having in mind the higher time frame sentiment and trend. This is a crucial part of the strategy because we only want to be trading in the direction of the higher time frame trend. The multiple time frame concept is important because it can give you a more robust reading of the current price action and more it can help you better time your entry and exit points. Note*: On the daily chart, it’s not necessarily for the stochastic moving averages to be below the 20 level. They can be moving away from the oversold territory and the signal can still be valid, but it shouldn’t be above 50 level. Step #2: Move Down to the 15-Minute Time Frame and Wait for the Stochastic Indicator to hit the 20 level. The %K line(blue line) crossed above the %D line(orange line). (Our chart was a 1H - it works too) This step is similar to the previous rule, but this time we apply the rules on the 15-minute time frame: wait for the Stochastic indicator to hit the 20 level and the %Kline (blue line) is crossing above the %D line (orange line). The 15-minute chart is the best time frame for day trading because is not too fast and at the same time not too slow. It is said that the market can stay in overbought and oversold condition longer than a trader can stay solvent. So we want to take precautionary measures, and this brings us to the next step on how to use the stochastic indicator. Step #3: Wait for the Stochastic %K line (blue moving average) to cross above the 20 level We want to trade smarter, right? Well, because the %k is the fast moving average it’s enough just to wait for it to cross above the 20 level because the %D line will follow suit. We don’t want to wait too much either as this will result in a reduced profit margin. Right now is the time you should switch your focus to the price action, which brings us the next step of the best stochastic trading strategy. Step #4: Wait for a Swing Low Pattern to develop on the 15-Minute Chart What is a Swing Low Pattern? A Swing Low Pattern is a 3 bar pattern and is defined as a bar that has one preceding and one following bar with a higher low. Day trading stochastics: When to Enter? This brings us to the next rule of the Best Stochastic Trading Strategy. Step #5: Entry Long When the Highest Point of the Swing Low Pattern is Broken to the Upside. So, after following the rules of the Best Stochastic Trading Strategy, a buy signal is only triggered once a breakout of the Swing Low Patterns occurs. Step #6: Use Protective Stop Loss placed below the most recent 15-minute Swing Low You want to place your stop loss below the most recent low, like in the figure below. But make sure you add a buffer of 5 pips away from the low, to protect yourself from possible false breakouts. Step #6: Take Profit at 2xSL Knowing when to take profit is as important as knowing when to enter a trade. The Best Stochastic Trading Strategy uses a static take profit, which is two times the amount of your stop loss. Note** The above was an example of a buy trade using the Day trading with the Best Stochastic Trading Strategy. Use the same rules – but in reverse – for a sell trade. Conclusion for this stochastic strategy: Day trading with the Best Stochastic Trading Strategy is the perfect combination between how to correctly use stochastic indicator and price action. The success of the Best Stochastic Trading Strategy is derived from knowing to read a technical indicator correctly and at the same time make use of the price action as well.
Education
by Tradingstrategyguides
1