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FXS IDEA! BYBIT:FXSUSDT.P This is my idea on FXS (if this isn't already the bottom) if we decided to come for another swing down how my chart is drawn up that would be a zone where I would take a trade any day of the week. Now all there is too do now is sit tight in that patience zone, set a few alarms on a few prices, check the reactions of them spots you pick and be ready to execute your plan. If this does not work out that is also completely okay with a 1% loss? let's get to work!! Thanks guys.
Long
by fusfamily
USDCHF REVERSAL ZONE IS HERE!!!USD/CHF has recently found resistance and is now trading below the Ichimoku Cloud, indicating a downtrend. We anticipate a potential test of the upper border of the Cloud at 0.9065, followed by a decline towards 0.8865. A confirming signal for the downward move would be a rebound from the upper border of the descending channel. However, if there is a breakout above the upper border of the Cloud, securing above 0.9105, it would invalidate this scenario and suggest a further rise towards 0.9205. Nicola, CEO of Forex48 Trading Academy
Long
by Forex48_TradingAcademy
1
GBPUSD DOUBLE SETUP BEFORE ECB RATESIn April, UK GDP grew by 0.2% m/m, recovering from the previous month's decline of -0.3% m/m. The rebound was driven by the services sector, with services expanding by 0.3% m/m and contributing 0.26 percentage points to overall GDP growth. The wholesale and retail sector, as well as the information and communication sector, made significant contributions. However, manufacturing and the health sector experienced declines. Manufacturing contracted by 0.3% m/m, with the pharmaceuticals sector playing a major role. The construction sector also declined by 0.6% m/m due to a slowdown in housing activity. Overall, UK GDP growth remains relatively stagnant, but PMI surveys indicate increased activity in April and May, especially in services, projecting a 0.3%-0.4% q/q growth rate for Q2. However, the extra bank holiday in May is expected to result in a significant contraction in GDP, potentially impacting the entire second quarter, although the effect on Bank of England policy is expected to be minimal. Nicola, CEO Forex48 Trading Academy
by Forex48_TradingAcademy
10 MOST important bar patterns to profit trade Bar patterns are elegant tools for every trader who trades on Price Action signals. I present to you 10 bar patterns that you must know! These patterns are easily found on charts and allow for easy placement of stop loss and take profit. Reversal Bar Patterns 1. Reversal Bar 2. Key Reversal Bar 3. Exhaustion Bar 4. Pin Bar 5. Two-Bar Reversal 6. Three-Bar Reversal 7. Three Bar Pullback Volatility Bar Patterns 8. Inside Bar 9. Outside Bar 10. NR7 1. Reversal Bar The low of a bullish reversal bar is below the low of the previous bar, and the close is above the close of the previous bar. The high of a bearish reversal bar is above the high of the previous bar, and the close is below the close of the previous bar. Buy above a bullish reversal bar in an uptrend. Sell below a bearish reversal bar in a downtrend. 2. Key Reversal Bar A bullish key reversal bar opens below the low of the previous bar and closes above its high. A bearish key reversal bar opens above the high of the previous bar and closes below its low. By definition, key reversal bars open with a price gap. Since gaps on intra-day timeframes are rare, most key reversal bars are found on daily timeframes and higher. Buy above a bullish key reversal bar (if you are not sure, wait until the price closes above it, and only then buy). Sell below a bearish key reversal bar (if you are not sure, wait until the price closes below it, and only then sell). 3. Exhaustion Bar A bullish exhaustion bar opens with a downward gap. The price then moves up, and the bar closes near its high. A bearish exhaustion bar opens with an upward gap. The price then moves down, and the bar closes near its low. In both cases, the gap remains unfilled. Additionally, the exhaustion bar should form on high volume. Buy above a bullish exhaustion bar. Sell below a bearish exhaustion bar. 4. Pin Bar It has a long and distinct tail. In bullish pin bars, the lower tail occupies most of the bar. In bearish pin bars, the upper tail dominates. Buy above a bullish pin bar that bounces off a support level. Sell below a bearish pin bar that bounces off a resistance level. 5. Two-Bar Reversal The two-bar reversal pattern consists of two strong bars closing in opposite directions. The bullish version consists of a strong bearish bar followed by a strong bullish bar. The bearish version consists of a strong bullish bar followed by a strong bearish bar. In bullish reversals, buy above the highest point of the two-bar pattern. In bearish reversals, sell below the lowest point of the two-bar pattern. 6. Three-Bar Reversal The bullish pattern consists of the following three bars: 1. A bearish bar 2. A bar with a lower high and a lower low 3. A bullish bar with a higher low and a close above the high of the second bar The bearish pattern consists of the following three bars: 1. A bullish bar 2. A bar with a higher high and a lower low 3. A bearish bar with a lower high and a close below the low of the second bar Buy above the high of the last bar in a bullish pattern. Sell below the low of the last bar in a bearish pattern. 7. Three Bar Pullback Three consecutive bearish bars form a bullish three-bar pullback pattern, and three consecutive bullish bars form a bearish three-bar pullback pattern. In a bullish trend, wait for three consecutive bearish bars to form. Then buy above the next bullish bar. In a bearish trend, wait for three consecutive bullish bars to form. Then sell below the next bearish bar. 8. Inside Bar The inside bar must be completely within the range of the previous bar. In other words, the second bar must have a lower high and a higher low. Place bracket orders around this pattern to trade its breakout in either direction. (A buy order above its high and a sell order below its low. Once one order is filled, cancel the other.) Place only one order (either a buy or a sell) in accordance with the market trend. Wait for the breakout of the inside bar and trade its lack of follow-through. 9. Outside Bar The outside bar is the complete opposite of the inside bar. Its range must exceed the range of the previous bar, i.e. it has a higher high and a lower low. Wait for the breakout of the outside bar and open a position against the market movement. (Especially if the outside bars look like dojis or go against the trend.) Trade its breakout, especially when the outside bar closes near its top or bottom. 10. NR7 This pattern requires the presence of seven bars. If the last bar has the smallest range in the sequence of bars, then this is an NR7 pattern. As a reminder, the range of a bar is the difference between its high and low. Buy on the breakout of the high of the last bar, if the trend is upward. Sell on the breakout of the low of the last bar, if the trend is downward.
Education
by Hellena_Trade
How Market Makers Manipulate Retail TradersMarket makers require a substantial amount of funds to facilitate the trading activities of retail traders by placing buy and sell orders, thereby ensuring liquidity. However, there are instances when market makers themselves need liquidity to execute their own orders for profitable trading. To acquire the necessary funds, they may have to halt or liquidate a significant number of retail traders by temporarily reversing the market direction below the previous consolidation level, but rarely past the secondary major support zone. This manipulation occurs as market makers exploit the increased liquidity that arises from stopping or liquidating these retail traders in order to secure cash for their own trades.
by EsotericTrading
AUDCHF Setup H1 - Is It short?On AUDCHF, the Forex48 strategy has identified a supply zone at 0.6030, where a setup for a short trade has formed. Currently, we have a weak AUD, but it could recover and potentially bounce back to the mentioned zone overnight after the news. However, I predict a decline with the strengthening of the Swiss Franc, which is traditionally a safe haven currency, given the weak strength of the dollar in this historical period. Let me know what you think. Happy trading to everyone. Forex48 Trading Academy
Short
by Forex48_TradingAcademy
GBPJPY Technical Analysis 11.04.2023 1h chart– Previous Daily candle closed strong Bullish at 165.350 breaking above the Daily Resistance formed on Wednesday 5th April 2023. – Buys on close above 165.500 targeting 4h Resistance at 165.810, Leaving Runners to the 1h Resistance at 166.210. – Sells on close below 165.180 targeting 1h previous Resistance formed at 164.910, Leaving Runners to the 1h Support formed at 164.670. – Ideally is to wait for price to pullback to form Support on the lower timeframe allowing the new Daily candle to form a bottom wick before breaking the previous Daily High for more potential Buys.
by SalimFX20
HP Bos vs LP Bos - Supply & Demand Trading Hello traders In this example, I will show you what HP BOS (break of structure) and HP POI (point of interest) look like, and on the right side you can see an example of low probability BOS (break of structure) and low probability POI (point of interest). BOS (break of structure) -Break of structure or BOS is the term used by traders, and it simply indicates a break of the recent structure We have 2 types of BOS 1. High probability BOS 2. Low probability BOS High probability BOS -You can see the high probability BOS on the left. The price impulsively breaks through the most recent structure, the momentum is present, and at the end, we see a good candle close, the price did not leave a big wick. Low probability BOS -You can see the low probability BOS on the right. The price barely breaks through the most recent structure, momentum is not present, and at the end the price leaves a large wick - the characteristic of a large wick is that the price no longer has momentum. POI (point of interest) - POI | Supply & Demand is the place where we want to sell or buy We have 2 types of POI 1. High probability POI 2. Low probability POI High probability POI -When we want to select the HP POI , we want to see that the momentum is present, as in the example on the left. The price did not leave a wick, it impulsively broke the high, and we see a nice closing of the candle. Low probability POI -When we see a low probability POI, we don't want to see that OB as a potential trade opportunity. On the right, you can see the low probability POI. The price has no momentum, it leaves a big wick which tells us that the momentum is weakened. I hope this example helped you to better understand the difference between high probability BOS & POI and low probability BOS & POI, if you have any questions, drop it down below.
Education
by hybridtradingfx
1
Educational Series: Trading with Boxes (Part 2)Remember from Part 1, that boxes - identify momentum - is trend-following - is reactionary, and does not predict or anticipate a move. In addition to using boxes to identify support/resistance levels, we can use boxes to identify breakout levels. Breakout levels are identified when the price breaks from a previous day's low/high. If the price breaks from the low/high of multiple days, then you can expect a more significant move in that direction. In Example 1: - Price rejects the resistance level (formed by the confluence of 2 previous day's high) - Breaking below the previous day's low - Selling opportunity, SL beyond the box high, TP at the lower support level formed by the confluence of 2 box lows. In Example 2: - Price rejects resistance level (formed by the confluence of 4 previous days' high) - Breaking below the previous day's low - Selling opportunity, SL beyond the resistance level, TP at the lower support level, formed by the confluence of 2 box lows. Note: In this case, the Risk:Reward ratio is lower than 1. When using boxes, because it is reacting to price, it can have a tendency to be slightly lagging. It is always a good practice to combine at least 2 different types of indicators in your analysis.
Education
by JinDao_Tai
Educational Series: Trading with Boxes (Part 1)Boxes are drawn on the chart of any timeframe, depending on the trader's preference. Typically, drawn on the - H1 timeframe identifies short-term, weekly trend and interim support & resistance levels - H4 timeframe identifies medium-term, monthly trend and key support & resistance levels - Daily timeframe identifies longer-term trend and major support & resistance levels. These boxes help traders identify momentum and is used as a trend-following indicator. However, these boxes do not predict or anticipate a move. Instead, it reacts to the price movement. Drawing the Boxes 1) Identify the Highs & Lows of the period (Day/Week/Month) 2) Draw a box encompassing the Highs & Lows with a box Basically, on the H1 chart, you would have drawn a daily candle (without tails or shadows). Support & Resistance levels with Boxes When the lows of 2 boxes align, this can form a support level. In another example, if a series of boxes form a high within the same area, this could form a resistance area.
Education
by JinDao_Tai
Educational Series: Trading with the MACD (Part 4)Using the MACD for counter-trend signals is likely to lead to losses and more difficult trading experiences than you would like. With the downward channel indicating a downtrend , and if you were to look for MACD crossover below the zero line, to signal a buying opportunity... The first 7 buying signals show price climbing briefly/slowly to the upside but reverses strongly. Only in the last example, as price bounces off the support of the channel and a brief shift in fundamentals led to the trade climbing to the TP level. Remember : Countertrend trades have a 70% chance of failure. If you are relatively new to trading, look for trend-following trades first. In fact, even if you are an experienced trader, trend-following trades should still be the primary/idea set up.
Education
by JinDao_Tai