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GBPUSD → SELL| SETUP → Day Trading AnalysisHello Traders, here is the full analysis. I think we can soon see more fall from this range! GOOD LUCK! Great SELL opportunity GBPUSD I still did my best and this is the most likely count for me at the moment. Support the idea with like and follow my profile TO SEE MORE. Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 🤝 Patience is the If You Have Any Question, Feel Free To Ask 🤗 Just follow chart with idea and analysis and when you are ready come in THE GROVE | VIP GROUP, earn more and safe, wait for the signal at the right moment and make money with us💰
Short
by TheGrove
3
EURUSD: Consolidation & Your Trading Plan 🇪🇺🇺🇸 EURUSD is currently trading within a narrow horizontal range on a daily and stuck between 2 daily horizontal structures. If the price breaks and closes above 1.0817 resistance, we will expect a bullish continuation at least to 1.087. If the price breaks and closes below 1.0723 support, a bearish movement will be anticipated to 1.067 The US inflation data will most likely be the catalyst. Patiently wait for a breakout and the follow the market. ❤️Please, support my work with like, thank you!❤️
Long
by VasilyTrader
1
DECODING GANN FAN: HOW TO USE IT IN TRADING👋 Hello, Forex traders! In this post we are going to talk about Gann angles, which many of you know as the Gann Fan. Essentially, they are the same thing. We will learn how to build these angles, what are their essence, and most importantly - how we can apply Gann's Fan in practice in our trading. What Are Gunn Angles ? 📢 Gann Angles, or Gann Fan, is one of the standard tools present by default in TradingView. The Gann fan indicator includes a sequence of straight lines drawn at different angles with the base at the pivot point. The resulting picture resembles a fan, from which the name of the tool was derived. Each of these lines indicates possible support or resistance levels as the price approaches it. William Gunn notes that his indicator cannot 100% predict and that the market always will change the trend direction. It only shows the moments when there is the highest probability of market reversal or consolidation. Widespread use of Gann angles as part of analytical work in the market is one of the most popular and, at the same time, complex methods of technical analysis. Nevertheless, the skills of structural assessment and forecasting of currency market dynamics, based on the theory of William Gunn's angles are in demand in the tools in the arsenal of every professional trader. It is worth mentioning that Gann angles are often confused with trend lines, which is not true, despite the characteristic similarity. The key difference between the Gann line and the trend line is that the Gann line is characterized by dynamic features that allow it to move both along the x-axis (vertical axis) and y-axis (horizontal axis), which opens up wider functionality for the trader. For example, it is possible to analyze an asset by plotting it in charts, which makes it possible to determine the angles of fluctuations of a market instrument and, subsequently, to mark the limits of its dynamics. The key assumptions of market dynamics, within the framework of the Gann theory, are the following: • Price, time and range of market fluctuations; • Geometric structure of the currency market, the analysis of which allows to predict the factors of further formation of its dynamics; • The fundamentally cyclical nature of market dynamics. Gann compared the nature of the market with the nature of human beings, analyzing the past and present of which, one can make a series of essential conclusions regarding its future. Gann Fan In Forex Trading 📊 Now it's time to tell you how Gann angles are applied in practice. The peculiarity of applying Gann's theory in practice is to focus on two, classic for his theory, models, designed to help the trader in predicting market movements: • The research time model, which implies fixing cyclically repeating dates; • The price range model, which includes support and resistance lines, as well as pivot points. Since such techniques require deep knowledge and experience from a trader, let us note the most essential technical aspects that should be kept in mind first of all. A trader should decide on the models that she/he will use when analyzing the market with the help of Gann fan. The most common of them are models 1, 1×2 and 2x1, each of which implies a certain slope of the lines. However, there are many more among these models and, accordingly, angles: 1 × 1 - 45 degrees 1 × 2 - 63.75 degrees 1 × 3 - 71.25 degrees 1 × 4 - 75 degrees 1 × 8 - 82.5 degrees 2 × 1 - 26.25 degrees 4 × 1 - 15 degrees 8 × 1 - 1.5 degrees There is nothing complicated about these parameters: the first one corresponds to a unit of time, the second one to a unit of price, and the formula, accordingly, shows the relation between price and time interval. Of particular note is the 45 degree model, also known as 1×1. According to Gann, the 1×1 line represents the long-term trend line: up or down. In this model, the disposition of price above the ascending line indicates a bullish trend and below the descending line a bearish trend respectively. The disposition of the price crossing the line indicates an anticipated trend reversal. It is important to emphasize that the 1:1 line represents the balance between price and time ranges. It is not uncommon in the market that when price approaches the line, time and price are balanced. How To Draw Gann Angles On A Chart? 📈📉 Let's try to apply the Gann Fan in practice. Gann angles are drawn from the top of the trend. In this case, it is the lowest point. We draw a line 1x1 at an angle of 45 degrees. How to determine the angle of 45 degrees? Very simple. You can use the Trend Angle insturment to calculate 45 degrees. Under this line you will immediately begin to touch the trend. It is almost impossible to make a mistake with the construction of the angle. All other lines are pulled up automatically. Note! Once built, this fan has a large number of points of touch and points of touch with the trend in the future. In other words, these angles can be used as an additional tool for technical analysis in the form of support and resistance levels. We strongly do not recommend trading using only one of these tools. Also, the Gann theory has a number of similarities with fan lines based on Fibo coefficients. In light of the market moving up or down, the angles transform within the existing trend, forming resistance and support levels. As you may have already realized, this tool is not associated with any specific trading strategies, but it can serve as a good additional tool to identify support/resistance levels as well as trend reversal points. Another key is to look for time and price discrepancies. Price will always tend towards the mean line. In summary, Gann angles, also known as the Gann Fan, can be found on TradingView and are a standard tool frequently utilized by Forex traders. They are comprised of a sequence of straight lines that derive from a pivot point and form a shape resembling a fan. Each line indicates potential support or resistance levels as the price approaches them. Gann angles are not deterministic, and their purpose is to show when there's a high probability of market reversal or consolidation. Traders, If you liked this educational post🎓, give it a boost 🚀 and drop a comment
Education
by Lingrid
12
MarketBreakdown | GBPUSD, USDCAD, USDCHF, CRUDE OIL Here are the updates & outlook for multiple instruments in my watch list. 1️⃣ #GBPUSD daily time frame 🇬🇧🇺🇸 The price is currently approaching an expanding supply area that is based on a broken horizontal support and a broken rising trend line. Probabilities will be high that we will see a bearish reaction to the underlined blue area. 2️⃣ #USDCAD daily time frame 🇺🇸🇨🇦 The market has recently broken a major falling trend line. We see its retest now. We may anticipate a bullish movement from that. 3️⃣ USDCHF daily time frame 🇺🇸🇨🇭 The pair broke and closed above a solid falling trend line. The last resort for sellers is a key horizontal resistance. If the market breaks and closes above that, a bullish reversal will confirmed. 4️⃣ WTI CRUDE OIL daily time frame 🛢️ The price nicely respected a rising trend line that I shared with you earlier. I think that we may expect a bullish continuation from that. Do you agree with my market breakdown? ❤️Please, support my work with like, thank you!❤️
Short
by VasilyTrader
3
TYPES OF ORDER BLOCKThis educational post is great for beginners who are just starting to grasp the concept of SMC. We've already talked about what an order block is. This time we'll talk about other types of blocks in trading. ✴️ Mitigation Block Mitigation Block is a sell or buy zone, which is formed when the market structure (BOS) continues. In other words, it is a broken order block and tested, but from the other side. We all know that when the price is moving along a trend, it is better to open trades in the direction of this trend. The most optimal points for buying and selling are the price pullback. By this logic a mitigation block is formed. Mitigation Block Sell Scheme Mitigation Block Buy Scheme Those who trade classical technical patterns will notice that it is anything but: a support zone becomes a resistance zone, and a resistance zone becomes a support zone. Institutional level traders understand the skills and knowledge of classical technical analysis traders, so they manipulate the price to generate and collect additional liquidity. In this zone we have our block, an ordinary block, which becomes a mitigated block after an impulse breakout. Schematically, the Mitigation Block in sell looks like this: Schematically, Mitigation Block in buy looks like this: ✴️ Breaker Block Smart Money Breaker Block is a sell or buy zone that is formed when the market structure (BOS) continues. In other words, it is a broken order block and tested, but from the other side. An important difference from a broken Block is that there is a change in market character (CHoCH). As you have understood, the essence of sell zones and blocks remains the same as in Mitigation Block, but first there is a liquidity grab, and then there is a change in market character (change in market structure). It looks schematically as follows: Breaker Block Sell Scheme Breaker Block Buy Scheme ✴️ Rejection Block Smart Money A Rejection Block is a selling or buying zone that appears on the chart as long candlestick tails at a market high or low. As in all other cases, the block is formed only after liquidity is grabbed from the previous high/minimum or equal highs/minimums. This is classically referred to as a false breakout or sweep. Bullish and Bearish Rejection Block The logic of building and searching for a Rejection Block is very simple: Bearish Rejection Block: Swing High, find the highest candle whose high and close are higher than the high and close of the neighbouring candles respectively. The tail (wick) of the candle will be the bearish order block. Bullish Rejection Block: Swing Low, we find the lowest candle, the minimum and close of which are lower than the minimum and close of the neighbouring candles respectively. The tail (wick) of the candle will be a bullish order block. It does not matter what colour the candle is. At the maximum it can be not only bullish but also bearish, and at the minimum it can be not only bearish but also bullish. This is worth paying attention to. Look for the highest candle, with the highest open or close and with the highest wick (same in the opposite direction). ✴️ Vacuum Block Smart Money A block stands out as a regular gap - from the high of the first candle to the low of the second candle in an up gap and vice versa, from the low of the first candle to the high of the second candle in a down gap. We can expect 2 variants of price movement: in continuation, return to the gap zone to fill it partially or completely. This is based on the presence and size of the block order. Complete gap filling Complete gap filling of the price void can be expected if there is an order block that is above or below the Vacuum Block. The price can bounce from the beginning of Vacuum Block, but in order to reduce the risk it is better to wait until the block is fully closed and touched. Partial filling of the gap A partial filling of the price void can be expected if the order block is below or above the Vacuum Block, but they overlap. The price can rebound from the beginning of the Vacuum Block, as well as overlap it completely. This is shown schematically in the figure above. ✴️ Conclusion You should realize that you don't need to click the "buy" or "sell" buttons where you see one of the block options. An order block is simply a price range where you can consider buying or selling, depending on your preliminary analysis and determining the context of the price movement. You will trade from every block a capital loss is guaranteed. Price moves for liquidity. This is the main analysis, and only then we look for the place (blocks) where we can jump from a less risky place.
Education
by DeGRAM
16
CADAUD's MACD Histogram crosses above signal lineCADAUD's MACD Histogram crosses above signal line The Moving Average Convergence Divergence (MACD) for CADAUD turned positive on January 30, 2024. Looking at past instances where CADAUD's MACD turned positive, the stock continued to rise in 30 of 95 cases over the following month. The odds of a continued upward trend are 32%. Price Prediction Chart Technical Analysis (Indicators) Bullish Trend Analysis The Momentum Indicator moved above the 0 level on January 30, 2024. You may want to consider a long position or call options on CADAUD as a result. In 34 of 116 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are 29%. Following a +0.43% 3-day Advance, the price is estimated to grow further. Considering data from situations where CADAUD advanced for three days, in 84 of 283 cases, the price rose further within the following month. The odds of a continued upward trend are 30%. The Aroon Indicator entered an Uptrend today. In 56 of 249 cases where CADAUD Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are 22%.
Long
by Serhii_Bond
24-01-30 update AUDUSD Long Entry: Trade Management 24-01-30 update AUDUSD Long Entry Entry Price: 0.65700 Stop Loss Price : 0.65300 / 40 Pips Take Profit: 0.66300 / 60 Pips Risk To Reward : 1 for 1.5 Trade Grade: b + -Tagged into trade at same price levels above * Trade Management* A. Risk entry (pending order) B. Take Profit at levels above B2: I might scale the risk off if the market trends in the direction of the trade. Cut losses quickly and let the winners ride is a big part of my trading style If anyone wants to know when I reduce risk please message me
Long
by Trader_Miles
USDCAD: Confirmed Bearish Reversal?! 🇺🇸🇨🇦 I see multiple bearish clues on USDCAD. The pair is trading in a bearish trend, lower highs are respecting a falling trend line. After its last test, the price formed a double top formation, and violated both its neckline and a support line of a rising wedge. These bearish signals indicate that the market may return to a bearish trend. I expect a bearish continuation to 1.335 / 1.330 ❤️Please, support my work with like, thank you!❤️
Short
by VasilyTrader
1
THREE DRIVES PATTERNThree Drives Pattern is a price pattern that consists of three consecutive changes in the market. The first and third are strong moves in one direction, while the second is weaker and in the opposite direction. The pattern can be used in trading to determine direction and predict optimal entry-exit points. Below we take a closer look at what this tool is, how it is formed and how to trade it correctly. What is the Three Drive Pattern? • Three Drives Pattern in trading is a reversal pattern formed from three consecutive price movements in the market: • First is an up or down swing that creates a trend; • The second is a correction of the trend, which is usually about 50% - 61.8% of the first impulse leg; • Third resumption of the trend, which is usually in the opposite direction of the correction. In the case of a bullish trend, the Three Drive Pattern often indicates that the trend is about to end. This is the case because a second downward movement indicates high selling pressure on the market. If the second momentum is strong enough, it can lead to a reversal in the trend. In a bearish trend, the Three Drives Pattern often indicates that a bearish trend may end in a reversal. This is because the second upward movement indicates the following: buyers are starting to put pressure on the market. If the second momentum is strong enough, a trend-reversal scenario is possible. The harmonic reversal pattern requires a competent approach on the part of the trader. It is important to use it in combination with other technical indicators, not to trade against the trend, and not to enter the market before the completion of the pattern. This means that the second movement is completed, and the market returns to the previous version in the direction of the first movement. The Three Drive Pattern is a useful tool that can be used in trading to determine the direction of the trend and forecast the optimal entry and exit points. How the Three Drives Pattern is Formed? Bullish Pattern The bullish pattern of three movements consists of three consecutive downward impulses. It is formed when market makers place shorts and is formed as follows: • A strong downward movement, which is usually the beginning of a trend. • An upward correction in the form of a weaker impulse. Indicates attempts to stop the downtrend by market participants. • A strong downward movement that exceeds the level of the first move. Ratios of impulse legs: First is 1.13 or 1.27; Second is 0,786; Third is 1,618. In the case of a bullish pattern, it is worth considering selling after the completion of the third movement. Additional signals could be a change in indicators, a decrease in trading volume, a break of support, or a resistance level. As in the case discussed above, it is not recommended to use such a tool on its own, trade against the trend, or act early. As you can see above, the market started the trend with the first downward impulse. Then it experienced an upward correction and resumed the trend with the third downward impulse. We always place a stop loss to protect against losses. After opening a position, wait for a pullback towards the first impulse to close the trade or add another position to it. Take into account that the price may be at the right point, but the pattern still may not work. Bearish Pattern A bearish pattern of three movements is a price pattern formed from three impulses showing growth. It is used by traders to find the best point to open a position against the market changes. • A strong upward movement, which is usually the beginning of a bearish trend. • A downward correction and a small market reversal that does not reach the level of the first impulse. This may be preceded by the fact that sellers show resistance and try to stop the trend. • A powerful upward movement that exceeds the level of the first impulse. This indicates that the trend is continuing and that the end of the trend is not imminent. Impulse legs have the following level: First move is 1.13 or 1.27; Second move is 0,786; Third move is 1,618. The ratios mentioned are not strict. The pattern is more reliable if it is accompanied by other signals, such as: A change in trend direction indicators; an increase in trading volume; divergence with an oscillator; the presence of support below or resistance above. Always use the tool in combination with other technical indicators to get an accurate prediction. Also, do not trade against the trend. As you can see on the chart, the market started a bearish trend from the first impulse upwards. After it experienced a downward correction, it did not reach the minimum or level of the first impulse. Finally, the market resumed the trend with the third upward impulse. How To Trade Using The Three Drives Pattern? 1. Find three consecutive movements on the chart that meet the criteria of the pattern. 2. Do not enter the market until the pattern is complete. 3. Make an entry at the initial point of the third move after it reaches the fibonichci extension level of 127.2% - 161.8%. 4. Place a stop above the 161.8% expansion level to protect losses in case the pattern doesn't work and goes lower or higher. 5. Close the trade when the market reaches the target profit at the 50% - 61.8% retracement of the whole pattern or you can at the level of the start of the first impulse. As you can see in the chart below, the market started bullish - the first impulse. Then there was a correction, which did not reach the level of the first impulse. Finally, the market resumed the trend and finished with the third impulse, in which the price went down and completed the pattern. Note that the price was at a strong co-contraction level. You can draw a trend line from above. The last element that hinted at a change of trend was the divergence. Use other technical indicators. The three-move pattern is a valuable tool, but it is not an accurate one. Using other tools, such as trend direction and volume indicators, can help improve the accuracy of your forecasts. Do not trade against the trend. A three-move pattern can be more reliable if it is used to confirm a trend. Be prepared for the pattern not to work like any other technical pattern. Bottom line The Three Drive Pattern is a reversal pattern. It can be used to determine the trend direction, as well as to predict potential entry and exit points. The optimal place to open a position is the level of the first impulse, and the exit point is reaching the target profit calculated using the Fibonacci ratio. Trading against the trend is riskier than trading in the direction of original market movement. This is because the price can continue to move in a given direction even if you see a reversal signal. This is why you need to proceed with caution and use other tools to back you up. Traders, If you liked this educational post🎓, give it a boost 🚀 and drop a comment
Education
by Lingrid
12
gbpusd confirm buy read the caption gbpusd confirm analysis of buy soon gbpusd buy mare than expected is going to be a really busy one with the FOMC rate decision and lots of economic data on the agenda. We begin today with the US Job Openings and the US Consumer Confidence reports. Tomorrow we will see the US Employment Cost Index and the ADP data before the FOMC rate decision later in the day On Thursday, we have the BoE rate decision and later in the day the latestI. Finally, on Friday, we conclude the week with the US NFP report.
Long
by Mrsam36