GBPUSD DBUY ENTRY @1.31100
STOP LOSS@ 1.30003
TAKE PROFIT@1.32927
Market Update (Looking to Long)
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ADAUSDT H1SELL ENTRY @52.26
STOP LOSS@ 0.822
TAKE PROFIT@0.752
Market Update (Looking to Long)
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Cup and Handle Trading Pattern 📉📉📉✅ A cup and handle is a technical chart pattern that resembles a cup and handle where the cup is in the shape of a "u" and the handle has a slight downward drift. A cup and handle is considered a bullish signal extending an uptrend, and it is used to spot opportunities to go long.
🎯 Cup Handle Pattern
William O'Neil's Cup with Handle is a bullish continuation pattern that marks a consolidation period followed by a breakout. ... The cup forms after an advance and looks like a bowl or rounding bottom. As the cup is completed, a trading range develops on the right-hand side and the handle is formed
🎯 What happens after cup and handle pattern?
If a cup and handle pattern is confirmed, it will be followed by a bullish price move upward. You can pick a price target based on the size of the cup, but it becomes much less clear what will happen after the initial breakout from the cup and handle pattern.
🎯 How reliable is cup and handle pattern?
The accuracy rate for cup and handle pattern for forex and stock on Daily timeframe are 65% and 68% respectively.
Three Black Crows Candlestick Pattern 📉📉📉Three black crows is a phrase used to describe a bearish candlestick pattern that may predict the reversal of an uptrend. Candlestick charts show the day's opening, high, low, and closing prices for a particular security. For stocks moving higher, the candlestick is white or green.
🎯 The three black crows candlestick pattern is considered a relatively reliable bearish reversal pattern. Consisting of three consecutive bearish candles at the end of a bullish trend, the three black crows signals a shift of control from the bulls to the bears.
✅ The black crow pattern consists of three consecutive long-bodied candlesticks that have opened within the real body of the previous candle and closed lower than the previous candle. Often, traders use this indicator in conjunction with other technical indicators or chart patterns as confirmation of a reversal.
✅ Three Black Crows Explained
Three black crows are a visual pattern, meaning that there are no particular calculations to worry about when identifying this indicator. The three black crows pattern occurs when bears overtake the bulls during three consecutive trading sessions. The pattern shows on the pricing charts as three bearish long-bodied candlesticks with short or no shadows or wicks.
In a typical appearance of three black crows, the bulls will start the session with the price opening modestly higher than the previous close, but the price is pushed lower throughout the session. In the end, the price will close near the session low under pressure from the bears.
This trading action will result in a very short or nonexistent shadow. Traders often interpret this downward pressure sustained over three sessions to be the start of a bearish downtrend.
✅ Limitations of Using Three Black Crows
If the three black crows pattern involves a significant move lower, traders should be wary of oversold conditions that could lead to consolidation before a further move lower. The best way to assess the oversold nature of a stock or other asset is by looking at technical indicators, such as the relative strength index (RSI), where a reading below 30.0 indicates oversold conditions, or the stochastic oscillator indicator that shows the momentum of movement.
Many traders typically look at other chart patterns or technical indicators to confirm a breakdown, rather than using the three black crows pattern exclusively. As a visual pattern, it is open to some interpretation such as what is an appropriately short shadow.
Do you use this candlestick pattern ?
Trading Aspects to Master 📉📉📉🎯 Analysing
To trade like a profesional first of all you have to learn technical/fundamental techinques to trade the market without them you have zero chance to succed in the markets.
Learn - candlestick patterns, simple patterns, fibonaci, market structure, trendline, imbalance, orderblock, volume profile etc
🎯 Risk Management
To survive in this game you need a very strict risk management, you will pass hard times and your account will survive.
Risk Management rules should include :
Risk per trade
Session Risk
Daily Drawdown Limit
Weekly Drawdown Limit
Monthly Drawdown Limit
You have to know your numbers, start small then grow.
🎯 Entries
Develop a rule based entry strategy always and every time, for example you will short a certain asset only if price is in a bearish market structure and its rejecting a fibonacci key area, you have to build your own system and develop confidence.
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Intra-Day Strategies 📉📉📉Today i will share with you types of intra-day strategies that can work in every market no matter if it's forex/stocks or crypto.
📊 Reversal Strategy
Buy close to the support (demand area) and sell from the resistance (Supply area) for the reversal move
📊 Patterns
Buy/Sell using different technical patterns such as Wedge,Triangle,DoubleTop Double Bottoms, Head&Shoulders
📊 Moving Averages
Using MA to understand trends and cross-overs, basically you have to LONG when price is above EMA/MA and vice-versa
📊 Pullbacks
When a new's event makes a big movement such as CPI,NFP, Unemployment but then a correction move happens
📊 Gap Up/Down
Trading Gap's Up/Down basically they appear during fundamental release or fundamental context when the market is closed, it's basically a big discrepancy between buyers and sellers
What is your intra-day strategy
Forex Market ✅✅✅
✅ KEY TAKEAWAYS
The foreign exchange (also known as FX or forex) market is a global marketplace for exchanging national currencies against one another.
Market participants use forex to hedge against international currency and interest rate risk, to speculate on geopolitical events, and to diversify portfolios, among several other reasons.
Major players in this market tend to be financial institutions like commercial banks, central banks, money managers and hedge funds.
Global corporations use forex markets to hedge currency risk from foreign transactions.
Individuals (retail traders) are a very small relative portion of all forex volume, and mainly use the market to speculate and day trade.
✅ Who Trades Forex?
The forex market not only has many players but many types of players. Here we go through some of the major types of institutions and traders in forex markets:
📊 Commercial & Investment Banks
The greatest volume of currency is traded in the interbank market. This is where banks of all sizes trade currency with each other and through electronic networks. Big banks account for a large percentage of total currency volume trades. Banks facilitate forex transactions for clients and conduct speculative trades from their own trading desks.
When banks act as dealers for clients, the bid-ask spread represents the bank's profits. Speculative currency trades are executed to profit on currency fluctuations. Currencies can also provide diversification to a portfolio mix.
📊 Central Banks
Central banks, which represent their nation's government, are extremely important players in the forex market. Open market operations and interest rate policies of central banks influence currency rates to a very large extent.
A central bank is responsible for fixing the price of its native currency on forex. This is the exchange rate regime by which its currency will trade in the open market. Exchange rate regimes are divided into floating, fixed and pegged types.
Any action taken by a central bank in the forex market is done to stabilize or increase the competitiveness of that nation's economy. Central banks (as well as speculators) may engage in currency interventions to make
their currencies appreciate or depreciate.
For example, a central bank may weaken its own currency by creating additional supply during periods of long deflationary trends, which is then used to purchase foreign currency. This effectively weakens the domestic currency, making exports more competitive in the global market.
Central banks use these strategies to calm inflation. Their doing so also serves as a long-term indicator for forex traders.
📊 Investment Managers and Hedge Funds
Portfolio managers, pooled funds and hedge funds make up the second-biggest collection of players in the forex market next to banks and central banks. Investment managers trade currencies for large accounts such as pension funds, foundations, and endowments.
An investment manager with an international portfolio will have to purchase and sell currencies to trade foreign securities. Investment managers may also make speculative forex trades, while some hedge funds execute speculative currency trades as part of their investment strategies.
📊 Multinational Corporations
Firms engaged in importing and exporting conduct forex transactions to pay for goods and services. Consider the example of a German solar panel producer that imports American components and sells its finished products in China. After the final sale is made, the Chinese yuan the producer received must be converted back to euros. The German firm must then exchange euros for dollars to purchase more American components.
Companies trade forex to hedge the risk associated with foreign currency translations. The same German firm might purchase American dollars in the spot market, or enter into a currency swap agreement to obtain dollars in advance of purchasing components from the American company in order to reduce foreign currency exposure risk.
Additionally, hedging against currency risk can add a level of safety to offshore investments.
📊 Individual Investors
The volume of forex trades made by retail investors is extremely low compared to financial institutions and companies. However, it is growing rapidly in popularity. Retail investors base currency trades on a combination of fundamentals (i.e., interest rate parity, inflation rates, and monetary policy expectations) and technical factors (i.e., support, resistance, technical indicators, price patterns).
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Tips for Trading Currency Pairs ✅📉 Trading Currency Pairs
I will try to explain in this post what you should look at when you are starting trading the Forex Market (Currency Market )
✅ Choose Liquid Pairs
Choose liquid pairs so you will have all your orders filled easily, dont trade pairs with low Liquidity as those can impact your trading results. EURUSD / GBPUSD / AUDUSD / NZDUSD etc and don't trage USDZAR / USDRON / USDBRL and other exotic pairs
✅ Analyze Fundamentals
Fundamentals drive the markets especially in the Forex Market, take a look at the country's monetary policy are they hawkish or doveish on a certain currency, also take a look at inflation, nfp, unemploymenyt, gdp as those affect the market as well.
✅ Determening the Leverage
My recommend leverage for newbies is something around 1-30 / 1-50 so you wound't over trade.
✅ Trading Strategy
Always ensure you have a trading strategy when you will start to trade, look at those things such as market structure, key psychological levels, fiibonacci, moving averages to build a trading strategy.
✅ Choose your Trading Timeframe
You have to know what trading style you are trading, is this scalping on the lower time frame or highertimeframe position trading. Ensure you have this noted in your trading plan
Bearish Engulfing Pattern 📉📉📉Bearish engulfing pattern is a technical chart pattern that signals lower prices to come. The pattern consists of an up (white or green) candlestick followed by a large down (black or red) candlestick that eclipses or "engulfs" the smaller up candle.
✅ A bearish engulfing pattern is a hint that a market may have formed a top. Any engulfing pattern below the daily time frame should be ignored. These patterns should only be traded at swing highs. The engulfing candle must break key support to be considered “tradable
✅ Bullish engulfing patterns are a confirmation that more buyers want to join the uptrend. On the other side, a bearish engulfing pattern gives confirmation for more sellers joining the short side
✅ An engulfing pattern is a strong reversal signal. There are bullish and bearish engulfing patterns and they are composed of two candlesticks – one bullish and one bearish. ... It is no
Power of Consistency 📉📉📉📉 Consistency Power
🔰 Don't focus on short term results when trading, it's a marathon not a sprint. You can't become elite traders overnight
🔰 Don't care about short term results and single trade outcome, only look at the weekly,monthly results as they are not random as daily results,a single trade means nothing dont be anxious and change something in your system only if you have more than 100 trades journaled so you know what works and what doesn't
🔰 Don't try to hit home runs aka BIG RETURNS OVERNIGHT it's a gambler short term thinking and their account have zero durability overtime
🔰 Focus on risk management and improve your edge over the market on a daily basis both technical and mental/emotional
LONG TERM over SHORT TERM ✅
RSI Trading Indicator 📉📉📉🎯 RSI - Relative Strenght Index
What Is the Relative Strength Index (RSI)?
The relative strength index (RSI) is a momentum indicator used in technical analysis that measures the magnitude of recent price changes to evaluate overbought or oversold conditions in the price of a stock or other asset. The RSI is displayed as an oscillator (a line graph that moves between two extremes) and can have a reading from 0 to 100.
Traditional interpretation and usage of the RSI are that values of 70 or above indicate that a security is becoming overbought or overvalued and may be primed for a trend reversal or corrective pullback in price. An RSI reading of 30 or below indicates an oversold or undervalued condition (kindly see the photos attached)
Survival Rules in TRADING 📉📉📉‼️ Survival rules in trading for newbies, if you respect those rules i can make a bet you wound't lose your account as the majority of traders are.
‼️ The key word there is IF YOU RESPECT
✅ 1. Always trade with a stop loss
✅ 2. Have a pre-determined risk on each trade no more then 1%
✅ 3. Don't move your stop loss if the price is not going in your favour
✅ 4. Don't add to losing positions, only viceversa. Add to your winning positions
✅ 5. You have to increase your risk only if you are in profit on your account, decrease your risk when you are losing and increase it when you are winning.
Hope that was usefull for your trading plan.
GBPAUD H1GBPAUD H1
BUY ENTRY @1.83511
STOP LOSS@ 1.82801
TAKE PROFIT@1.84592
Market Update (Looking to Long)
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NZDJPY LongBuy entry on NZDJPY @78.045 with 3 TP levels and looking at capitalizing on a possible bullish run
SL: 77.755
TP1: 78.340
TP2: 78.630
TP3: 78,700
EUR/USD Outlook (01 March 2022)Overall, EUR/USD is ranging across.
Currently, EUR/USD is testing the resistance zone of 1.12000 and the next support zone is at 1.11000.
Look for short-term buying opportunities of EUR/USD if it rejects the resistance zone of 1.12000.
GBP/USD Outlook (01 March 2022)Overall, GBP/USD is ranging across. Recently, GBP/USD broke the resistance zone of 1.33800.
GBP/USD’s next support zone is at 1.33800 and the next resistance zone is at 1.36000.
Look for short-term buying opportunities of GBP/USD.
AUD/USD Outlook (21 February 2022)Overall, AUD/USD is ranging across. Recently, AUD/USD broke below the key level of 0.72.
The Australian flash PMI data released earlier today indicated a faster rate of expansion of the manufacturing sector. Also, the services sector has recovered from the previous contraction.
Flash Manufacturing PMI (Actual: 57.6, Forecast: NA, Previous: 55.1 revised from 55.3)
Flash Services PMI (Actual: 56.4, Forecast: NA, Previous: 46.6 revised from 45.0)
AUD/USD’s next support zone is at 0.71000 and the next resistance zone is at 0.73000.
Look for short-term selling opportunities of AUD/USD.
EUR/USD Outlook (21 February 2022)Overall, EUR/USD is ranging across. Recently, EUR/USD rejected the resistance zone of 1.13800.
The French flash PMI data will be released later at 1615 (SGT).
French Flash Manufacturing PMI (Forecast: TBA, Previous: 55.5)
French Flash Service PMI (Forecast: TBA, Previous: 53.1)
The German Flash PMI data will be released later at 1630 (SGT).
German Flash Manufacturing PMI (Forecast: TBA, Previous: 59.8 revised from 60.5)
German Flash Services PMI (Forecast: TBA, Previous: 52.2)
The eurozone flash PMI data will be released later at 1700 (SGT).
Flash Manufacturing PMI (Forecast: TBA, Previous: 58.7 revised from 59.0)
Flash Services PMI (Forecast: TBA, Previous: 51.1 revised from 51.2)
Currently, EUR/USD is trading down towards the key level of 1.13. Its next support zone is at 1.12000 and the next resistance zone is at 1.13800.
Look for short-term selling opportunities of EUR/USD if it breaks below the key level of 1.13.
EUR/JPY Outlook (21 February 2022)Overall, EUR/JPY is ranging across. Recently, EUR/JPY traded into the support zone of 130.000.
The French flash PMI data will be released later at 1615 (SGT).
French Flash Manufacturing PMI (Forecast: TBA, Previous: 55.5)
French Flash Service PMI (Forecast: TBA, Previous: 53.1)
The German Flash PMI data will be released later at 1630 (SGT).
German Flash Manufacturing PMI (Forecast: TBA, Previous: 59.8 revised from 60.5)
German Flash Services PMI (Forecast: TBA, Previous: 52.2)
The eurozone flash PMI data will be released later at 1700 (SGT).
Flash Manufacturing PMI (Forecast: TBA, Previous: 58.7 revised from 59.0)
Flash Services PMI (Forecast: TBA, Previous: 51.1 revised from 51.2)
Currently, EUR/JPY is testing the support zone of 130.000 and the next resistance zone is at 131.500.
Look for short-term selling opportunities of EUR/JPY if it breaks the support zone of 130.000.
Imbalance Concept ✅✅✅ ⭐️ An imbalance of orders is when a market exchange receives too many of one kind of order—buy, sell, limit—and not enough of the order's counterpoint. For sellers to complete their trades, there must be buyers and vice versa; when the equation is slanted too heavily in one direction, it creates an imbalance.
I use imbalances both bullish and bearish to spot where price made ,,un-natural,, moves that should be filled as a tipical GAP move, i will look at them as MAGNET area where price should be attracted where price should go.
⭐️ You can use them as entry areas when price fills the imbalance area or profit target zones
I attached couple photos where you can see bullish & bearish imbalances both filled and un-fullfiled(price didnt come back)
Hope that was insightfull
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EURJPY Outlook for a Short time Buying Overall, EUR/JPY is ranging across.
Currently, EUR/JPY is testing to break above the key level of 132. Its next support zone is at 131.500 and the next resistance zone is at 134.000.
Look for short-term buying opportunities of EUR/JPY if it breaks above the key level of 132.
EURNZDEURNZD at the critical level with news coming up price action and levels confirmation done
Selling pressure should come in soon
Possible Reversal on GBPCADGBPCAD has recently printed a head and shoulders pattern and might break the key level of resistance at 1.89300 going into the New York session volume.
Comment your thoughts if you see any other potential outcomes.
