G-money
Bitcoin - Major Levels | Potential RecoveryI have marked out the major levels of bitcoin, I believe that the macro economy is about to recover from here, We may struggle abit before we continue up but I believe we will sooner or later break up from where we are right now. A potential retest around 20k is possible before continuation. There is extreme amount of money sidelined in all markets ATM and this could bring huge price action upwards. I can see bitcoin break a new ATH in 1-2 years from now.
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NFA
Good luck trading out there.
Oil 6R Short Trade | Smart Money Concepts | ICT | SMT divergenceTesting another short swing trade based on SMT divergence; this time, divs between US treasury yields and Oil, targeting a previous day's low and demand zone.
I already caught one 6R short the other day using this same setup, and now we have more divergence while price has come into an untapped New Day Opening Gap as well as a supply zone.
We have also retraced on the daily timeframe to the 50%/equilibrium of the range and bottom of the wedge pattern that has already played out.
Price has choched/MSS'd on the 1H timeframe taking out Asia lows and pulling back to mitigate around daily range's equilibrium/mid.
This swing trade is supported by:
1. (like my BTC long) A risk-off environment due to impending bank failures combined with the Fed's sentiment indicating an ostensible softening of interest rate rises.
This is not investment or financial advice, just my own opinion.
Bitcoin 23R Long NOT Short | Smart Money Concepts | ICTThis is a re-entry to a 39R long that I posted the other week based on an inverted H&S on the daily timeframe.
This time it's another 23R long based on a sweep of a previous day low which I scalped yesterday, and a scale in after a 15m choch/MSS and pullback to OTE.
The strategy is the same, but this time it's based off a retracement to the top of this megaphone structure on the daily timeframe and a supply zone roughly at the 50% equilibrium point.
There is also SMT divergence between Ethereum and BTC as indicated on the chart
I think this is a bit more risky, but unless we get a bigger pullback, this is the best place to enter.
This scale-in swing trade is supported by:
1. A risk-off environment due to impending bank failures combined with the Fed's sentiment indicating an ostensible softening of interest rate rises.
2. Investors are seeking safety in Gold and BTC, as well as hedging against inflation. This combined with the weekly timeframe falling wedge and daily H&S pattern pointing to $37K or higher (supply zone and high volume node above).
This is not investment or financial advice, just my own opinion. I already partialed on my previous swing trade from ~24K so this scale-in is worth the risk:reward.
Managing your trading Psychology Trading psychology refers to the mental and emotional factors that affect an individual's behaviour and decision-making when trading financial markets. It is the study of how a trader's mindset, emotions, and behavior can impact their trading performance and ultimately, their success.
Trading can be a highly emotional and stressful activity, as traders are constantly exposed to risk and uncertainty. Successful traders understand the importance of controlling their emotions and maintaining a disciplined approach to trading.
Some of the key psychological factors that can impact trading performance include:
Fear and greed: Fear of losing money and wanting to make a quick profit can lead to impulsive and irrational trading decisions.
Overconfidence: Traders may become overconfident in their abilities after a successful trade or series of trades, leading to overtrading and increased risk-taking.
Loss aversion: Traders may hold onto losing positions for too long, hoping for a turnaround, rather than cutting their losses and moving on.
Confirmation bias: Traders may only seek information supporting their beliefs, rather than considering alternative viewpoints or contradictory data.
To improve trading psychology, traders can work on developing emotional intelligence, mindfulness, and self-awareness. They can also create a solid trading plan, establish clear risk management strategies, and maintain a positive and disciplined mindset. Additionally, seeking out the guidance of a professional trading coach or mentor can be helpful in developing a successful and sustainable trading approach.
Are we seeing an end to the bullish trajectory on the eurusd?The eurusd pair has developed bearish divergence on both the weekly and the daily chart and my assumption is that it could create an H&S on the daily chart, now that what appears to be the left shoulder and head can be noticed. Additional confirmation will occur once the PA crosses the dashed trendline.
#btctarburst The MAP HAS NOT LIED YET….?So far the GANN map has been holding it’s ground… The study is pretty accurate for support and resistance. DCA SAFELY This has been an ongoing study for over a year…. Still bull market excitement starts after 30k
40R EURUSD Long Swing Trade (Smart Money Concepts)Testing one of my smart money concepts swing trading strategies using an early entry based on day trading setup. The setup normally involves a sweep of a 4h choch/MSS deep in premium/discount, then a daily pin bar or hammer, or a 4h choch.
Previous Day Opening Gap has been filled on DXY as well as three months of liquidity swept.
This early entry utilizes a long from a trendline following another strategy of mine. If successful, will take the majority of the position off after daily FVG fills and leave some on to run as a swing trade.