Get started

H-setup

Key Levels are Magic 🪄 Create only the Best Risk/Reward Ideas!Someone recently asked me if the zones I draw on the chart is an indicator. This speaks to the amount of experience and level of competence that is easy to forget about. My ability to spot key level's and price areas on the chart is not something that is acquired overnight. It's a culmination of trial and error over the years and a loss of a significant amount of cash. It came at a large cost. The Latter is not necessary to understand the best key level's and price areas to trade off. Something that I recall over the years is the fact that I was never Self-Conscious about looking like a fool. We are all fools when we begin a new endeavor. I never hesitated to share my analysis with my mentors. Feedback can be quite painful but if you make it a habit, then it will return unto you by the tenfold. Take this zone (27,136$ ) which was our 4Hr Support zone. I Say "was" because there was once a time when the 4Hr timeframe respected it as a Support area on May 28th. It is now characterized as a 4Hr S/R Zone because we have seen multiple candles clearly close below it.. and it could, and I say could because there is no guarantee in the markets. It could act as a Resistance zone now and facilitate the distribution of orders as we continue our short term descent down to our next Key Level -- Weekly Level 26,770 $. If we arrive at the weekly level we will most likely have a reaction. A general rule of thumb to go by in the markets as a Price Action Trader - The Higher Timeframe the key level, the more probable it is that price will offer a good Risk/Reward trading idea off that level. The only guarantee is that there are good Risk - Reward Ideas and bad RR Ideas. So I might as well use my knowledge of the best price areas to create only the best Risk/Reward Ideas. For example, I will only trade off the 4Hr timeframe and Timeframes above that ( I have found this to be a good rule in the Forex market). I will only take trades that in which I Risk 1 to earn 3. In that way my win percentage may only be as good as 30%, yet after paying commissions/spreads to the intermediary, I earn a profit. It is important to note that the monthly candle is closing in 2.5 Hours. Th Monthly candle is closing bearish and this may cause volatile price swings as position traders and Institutions manage their trades. It seems that we have accumulated a significant amount of liquidity after the market was pushed up to 28.5K because look at the daily timeframe. The market didn't hesitate all that much to quickly drop back and retrace a majority of the gains. As we move into the next monthly candle, we may very well go to create a bottom wick first as the current monthly candle is closing bearish. This is reasonable argument. Idk what are your thoughts? Please comment below.
COINBASE:BTCUSDShort
by ShrewdCatfx
CHFJPY - FINALLY WE HAVE A LONG SETUPOn CHFJPY, the market is forming a long setup following the Forex48 strategy. The setup is around 153.15, where we have a strong demand zone created on May 18th. Therefore, I expect a retracement at this level before entering a long position with a target of 155.40. There is a supply zone at that level, and the price may even break through it to continue the upward momentum. Let me know what you think. Happy trading to everyone. ❤️Please, support my work with like, thank you!❤️
Long
by Forex48_TradingAcademy
XAUUSD : Short Trade , 4hHello traders, we want to check the XAUUSD chart in the 4-hour time frame. The price is moving in a descending channel and managed to break down the key level between 1969 and 1978 and then pull back to this level. We expect this level for us. It will play the role of a resistance level and maintain the downward trend and fall until the specified targets. Good luck. XAUUSD sell Entry : 1969.565 Stop : 2001.430 , Target1 : 1937.700 , Target2 : 1905.825 Risk/Reward Ratio : 2
OANDA:XAUUSDShort
by mrAT_Trader
NZDJPY to find sellers at previous support?NZDJPY - 24h expiry - We look to Sell at 84.50 (stop at 84.90) Previous support located at 83.50. Previous resistance located at 84.00. Broken out of the channel formation to the downside. Further downside is expected. Risk/Reward would be poor to call a sell from current levels. Our profit targets will be 83.50 and 83.25 Resistance: 84.00 / 84.50 / 84.75 Support: 83.50 / 83.25 / 83.00 Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Signal Centre’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Signal Centre.
Short
by VantageMarkets