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Harmonic Patterns

TDI Trading Indicator 📉📉📉📉 Let’s break down the Traders Dynamic Index indicator and go through it a little bit. As you can see, this scalping indicator has five moving averages. The green line is called the price line and is similar to the RSI indicator and represents the market sentiment. It shows you how the market is moving related to positive and negative expectation. the settings for the price line is 2. The red line is called the signal line is simply a crossover of the green line and can be used for entry and exit in the market. The settings for the signal line is 7. The yellow line is called the base line is what we refer to as the overall market sentiment. It shows the overall direction of the market. The overall market has a tendency to do two things. It can turn slowly, or it can continue to go in the initial direction. This is because it’s too big and it can’t turn too quickly. It’s got to come to a gradual end. The settings for the base line is 34. Last but not least, we have two blue lines, one above and one below. Those blue lines represent the volatility in the market, similar to the Bollinger Bands. They are increasing and decreasing volatility. Traders Dynamic Index (TDI) MetaTrader indicator — a comprehensive but helpful indicator that uses RSI (Relative Strength Index), its moving averages, and volatility bands (based on Bollinger Bands) to offer traders a full picture of the current Forex market situation. This indicator can use sound and visual alerts. 📉 The TDI is the only technical indicator that can read the market sentiment, market volatility, and momentum at the same time. The concept is very simple, it is 3 rsi indicators on 3 different time frames and then it is combined with Bollinger bands. That is where the 5 lines come from 📉 Traders Dynamic Index (TDI) MetaTrader indicator — a comprehensive but helpful indicator that uses RSI (Relative Strength Index), its moving averages, and volatility bands (based on Bollinger Bands) to offer traders a full picture of the current Forex market situation. This indicator can use sound and visual alerts. Do you use this trading indicator ? What do you think ?
OANDA:XAUUSDEducation
by AnonimFXRO
📉📉📉 Wedge Trading Pattern 📉 What Is a Wedge? A wedge is a price pattern marked by converging trend lines on a price chart. The two trend lines are drawn to connect the respective highs and lows of a price series over the course of 10 to 50 periods. The lines show that the highs and the lows are either rising or falling and differing rates, giving the appearance of a wedge as the lines approach a convergence. Wedge shaped trend lines are considered useful indicators of a potential reversal in price action by technical analysts. 📉 Understanding the Wedge Pattern A wedge pattern can signal either bullish or bearish price reversals. In either case, this pattern holds three common characteristics: first, the converging trend lines; second, a pattern of declining volume as the price progresses through the pattern; third, a breakout from one of the trend lines. The two forms of the wedge pattern are a rising wedge (which signals a bearish reversal) or a falling wedge (which signals a bullish reversal). 📉 Falling Wedge When a security's price has been falling over time, a wedge pattern can occur just as the trend makes its final downward move. The trend lines drawn above the highs and below the lows on the price chart pattern can converge as the price slide loses momentum and buyers step in to slow the rate of decline. Before the lines converge, price may breakout above the upper trend line. This usually occurs when a security’s price has been rising over time, but it can also occur in the midst of a downward trend as well. The trend lines drawn above and below the price chart pattern can converge to help a trader or analyst anticipate a breakout reversal. While price can be out of either trend line, wedge patterns have a tendency to break in the opposite direction from the trend lines. 📉 Rising Wedge This usually occurs when a security’s price has been rising over time, but it can also occur in the midst of a downward trend as well. The trend lines drawn above and below the price chart pattern can converge to help a trader or analyst anticipate a breakout reversal. While price can be out of either trend line, wedge patterns have a tendency to break in the opposite direction from the trend lines. Do you use this trading pattern ?
OANDA:XAUUSDEducation
by AnonimFXRO
📉📉 FEAR/GREED INDEX 📉 Why Measure Fear and Greed? The crypto market behaviour is very emotional. People tend to get greedy when the market is rising which results in FOMO (Fear of missing out). Also, people often sell their coins in irrational reaction of seeing red numbers. With our Fear and Greed Index, we try to save you from your own emotional overreactions. There are two simple assumptions: 📉 Extreme fear can be a sign that investors are too worried. That could be a buying opportunity. When Investors are getting too greedy, that means the market is due for a correction. Therefore, we analyze the current sentiment of the Bitcoin market and crunch the numbers into a simple meter from 0 to 100. Zero means "Extreme Fear", while 100 means "Extreme Greed". See below for further information on our data sources.
COINBASE:BTCUSDEducation
by AnonimFXRO
Volume Trading Indicator 📉📉📉✅ Volume is an important indicator in technical analysis because it is used to measure the relative significance of a market move. The higher the volume during a price move, the more significant the move and the lower the volume during a price move, the less significant the move. ✅ Volume indicators are technical tools to evaluate a security's bull and bear power. Most look specifically at buying vs. selling pressure to determine which side is in control of price action. Others attempt to identify emotions that are moving the security at a particular time ✅ A high positive multiplier with high volume indicates strong buying pressure which pushes the indicator higher. On the other hand, a low negative number with high volume indicates strong selling pressure which pushes the indicator lower. ✅ Down volume indicates bearish trading, while up volume indicates bullish trading. If the price of a security falls, but only on low volume, there may be other factors at work aside from a true bear turn Do you use this trading indicator ?
OANDA:XAUUSDEducation
by AnonimFXRO
ENGULFING CANDLESTICK PATTERN 📉📉📉✅ The pattern has greater reliability when the open price of the engulfing candle is well above the close of the first candle, and when the close of the engulfing candle is well below the open of the first candle. ✅ The bullish engulfing candle signals reversal of a downtrend and indicates a rise in buying pressure when it appears at the bottom of a downtrend. The bearish engulfing signals reversal of the uptrend and indicates fall in prices by the sellers who exert the selling pressure when it appears at the top of an uptrend ✅ The bearish engulfing candle occurs when the real body of a down candle completely envelops the real body of the prior up candle. A bullish engulfing candle occurs when the real body of an up candle completely envelops the real body of the prior down candle. ✅ How accurate is bullish engulfing? The bullish engulfing candlestick acts as a bullish reversal 63% of the time, which is respectable, ranking 22 where 1 is best out of 103 candle patterns ✅ What is bullish engulfing pattern? A bullish engulfing pattern is a candlestick pattern that forms when a small black candlestick is followed the next day by a large white candlestick, the body of which completely overlaps or engulfs the body of the previous day's candlestick. What do you think ? Comment below..
BINANCE:BTCUSDEducation
by AnonimFXRO
Tweezer Tops vs Tweezer Bottom 📉📉📉📉 A tweezer is a technical analysis pattern, commonly involving two candlesticks, that can signify either a market top or bottom. Tweezer bottoms are considered to be short-term bullish reversal patterns, whereas tweezer tops are thought to be bearish reversals. 📉 Tweezer top indicates a bearish reversal whereas Tweezer bottom indicates a bullish reversal. Tweezer top candlestick pattern occurs when the high of two candlesticks are almost or the same after an uptrend 📉 A Tweezer Bottom occurs during a downtrend when sellers push prices lower, often ending the session near the lows, but were not able to push the bottom any further. Tweezer Bottoms are considered to be short-term bullish reversal patterns that signal a market bottom. A tweezers top is when two candles occur back to back with very similar highs. A tweezers bottom occurs when two candles, back to back, occur with very similar lows. The pattern is more important when there is a strong shift in momentum between the first candle and the second Do you use twezzer tops or bottoms ?
TVC:DXYEducation
by AnonimFXRO
✅ RISK ON vs RISK OFF ✅ Today we will talk about RISK ON vs RISK OFF Market Sentiment as i use this confluence to enter trades. 🎯 Risk ON vs Risk OFF market sentiment reflects all the market activity, its not a market sentiment for crypto or forex or stock market its for all the financial markets, when i use this confluence i try to understand what are institutional/retail investors are doing are they buying risk on assets or they are buying risk on assets. 🎯 Usually investors buy risk on assets when they are looking for risk meaning they want higher yield on their investment they want to MULTIPLY money(key word) this is happening during times of financial prosperity, no wars, no lockdowns, no problems around the world everyone are doing great and making money 🎯 On other side RISK OFF is when investors tend to buy financil assets that PROTECT (key word) their capital they dont want a high yield they want just to save their money and protect during time of financial stress, wars, lockdowns when everything is not clear and safe. ✅ RISK ON Assets Stock Market Crypto USOil AUD NZD CAD EUR GBP ✅ RISK OFF Assets Government Bonds JPY CHF USD GOLD SILVER
COINBASE:BTCUSDEducation
by AnonimFXRO
BITCOIN EXCHANGE RESERVE 📉📉📉📉 WHY I AM BULLISH ON BITCOIN FROM A FUNDAMENTAL-MACRO PERSPECTIVE ? ✅ Exchange reserve is a collective measure of potential coins that are ready to be sold in the market. Exchange Reserve is the accumulated result of Exchange In/Outflow & Netflow which naturally follows the indications that in/outflow has. Similar to Exchange NetFlow's interpretation, an increasing trend in netflow indicates the selling pressure and the decreasing trend indicates the buying pressure. However, instead of Exchange In/Outflow & Netflow indicating the specific moment or period, Exchange Reserve is easy to track the result of the entire period's movements ✅ It indicates the degree of accumulated selling pressure in the exchange High : High selling pressure A large number of coins are staying in the exchange to be traded indicating high selling pressure Low : Low selling pressure A Small number of coins are staying in the exchange to be traded indicating low selling pressure ✅ It shows the changing status in scarcity Increasing trend: Decreasing scarcity -Bearish More coins are available in the exchange indicating decreasing scarcity of coins that are being traded which supports bearish movement Decreasing trend: Increasing scarcity - Bullish Fewer coins are available in the exchange indicating increasing scarcity of coins that are being traded which supports bullish movement
BINANCE:BTCUSDEducation
by AnonimFXRO
📌TOP Patterns you should know when Trading in any market❗❗You may have thought that the chart of an asset you were analyzing was starting to look just like another asset. Could this mean the outcomes would be the same? Well, they definitely can be. The market is full of patterns and similar structures that traders often use for forecasting future price action. Many of these common patterns, ranging from triangles and rectangles, to wedges and head and shoulders can often determine if a market will continue to rise upon breakout, or drop once the price breaks down. 🔰How Do I Trade These Patterns?❗ If you come across a pattern that looks similar to one on the infographic, draw some support / resistance trendlines. The main idea behind trading patterns is just like support and resistances. If you’re trading with the trendlines, you’d buy at support and sell at resistance. If you’re trading against, you’d buy when price action breaks through the resistance, and sell when it breaks through the support. Remember that hindsight makes these look easier than they actually are, and is why I stress the point that multiple tools should be used to confirm your analysis. Sounds Easy?❗😀😄 Don’t be fooled. Trading is not as easy as this, and is a discipline that requires extensive learning. The truth is that 90% of traders lose money. However, with proper training and money management, you are able to be in the 10% that do not. Always have a trading plan, use stop-losses to cut your losses and move on, and never trade greedily.
Education
by PRO_SMART_Trader
4
AMD Trading Pattern 📉📉📉📈 To increase your chance of succeding in the financial markets as a trader you should understand what the market phases is and the logic behind this concept. 🔰 Accumulation - tipically accumulation is a range area where price forms equal highs and lows, from an institutional perspective we can see this zone as a clash between sellers and buyers usually after a accumulation move price will move sharply into a direction 🔰 Manipulation - manipulation aka the FAKE move will be the first move that exists the range in 80% of the situations the first move is just a move to trap retailers go into a certain direction and then quickly reverses, usually the manipulation happens during LN open (London) NY open ( New York ) NYSE open ( Nasdaq ) and the accumulation move forms during asian session especially for fx pairs 🔰 Distribution - distribution is the moment when price takes the opposite direction of the MANIPULATION it is offten called the TRUE DIRECTION of the DAY where its generally raided by institutions because retail traders were trapped in the manipulation phase. Was this a valuable information ?
BINANCE:BTCUSDEducation
by AnonimFXRO
Market Strucutre 📉📉📉✅ MARKET STRUCUTURE . Today we will talk about market strucutre in the financial markets, market strucuture is basicall the understading where the institutional traders/investors are positioned are they short or long on certain financial asset, it is very important to be positioned your trading opportunities with the trend as the saying says trend is your friend follow the trend when you are taking trades that are alligned with the strucutre you have a better probability of them closing in profit. ✅ Types of Market Strucuture 🎯 Bearish Market Strucuture - institutions are positioned LONG, look only to enter long/buy trades, we are spotingt the bullish market strucutre if price is making higher highs (hh) and higher lows (hl) 🎯 Bullish Market Strucutre - institutions are positioned SHORT, look only to enter short/sell trades, we are spoting the bearish market strucutre when price is making lower highs (lh) and lower lows (ll) 🎯 Range Market Strucutre - the volumes on short/long trades are equall instiutions dont have a clear direction we are spoting this strucutre if we see price making equal highs and equal lows and is accumulating . I hope i was clear enough so you can understand this very important trading concept, remember its not in the number its in the quality of the trades and to have a better quality try to allign every trading idea with the actual strucutre
BINANCE:BTCUSDEducation
by AnonimFXRO
Inside Bar Candlestick Pattern📉📉📉We will cover the following today: Inside Bar (Inside Day) Inside Days ✅ Inside Days are a daily pattern involving two daily candles, we have a day of trade, also known as the ‘mother candle’ and then the following day trades the whole day within the range of the previous day. This is a two-day bias suggesting a potential reversal. A great way to play these sorts of biases is to pre-empt the failure of this reversal, as well as playing the success of the inside day, so what does this look like? Let’s take a look at an example below. ✅ What is an inside bar? The inside bar is a popular reversal/continuation candle formation that only requires two candles to present itself. This pattern is a direct play on short-term market sentiment looking to enter before the 'big moves' that may take place in the market. ✅ Is an inside bar bullish? First, unlike other candlestick patterns, inside bars are usually not distinguished as bullish and bearish by their look or color of the body itself, but rather by the location they are at and other peripheral developments ✅ An “inside bar” pattern is a two-bar price action trading strategy in which the inside bar is smaller and within the high to low range of the prior bar, i.e. the high is lower than the previous bar's high, and the low is higher than the previous bar's low. 📈 HOW TO IDENTIFY AN INSIDE BAR ON FOREX CHARTS The following steps are used when identifying the inside bar pattern on forex charts: Identify a preceding trend using price action/technical indicators Locate inside bar pattern whereby the inside bar is engulfed fully by the preceding candle high and low
BINANCE:BTCUSDEducation
by AnonimFXRO
📌Fibonacci & FIBO retracement❗✳️The author of the Fibonacci series of numbers was the Italian mathematician Leonardo Pisano. The series has been known for centuries for this series of numbers: 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89 and so on until infinity. The number is calculated by the sum of the two previous numbers. This numerical relationship has also been used on the financial markets for a century.The number Phi is of particular importance. Phi was created from the golden ratio. The golden ratio is the ratio of two numbers, the higher number is the numerator and the lower number is the denominator. The result is always around 1.618. Below is an example: a = 0.618 b = 0.382 0.618/0.382 = 1.618 Golden Ratio: 0.618 + 0.382 = 1,000 🔶🔷It's all about resistance and support: The Fibonacci retracement is a method of finding potential resistance and support zones in an underlying asset. It is based on the idea that a predetermined portion of a move from a price will bounce back. After that, the price will continue in the “real” direction. Often a correction corrects a Fibonacci percentage of a previous wave. From experience, the most common retracement levels are 38.2%, 50%, and 61.8%. These levels are watched by most analysts because they represent potential market reversal points. 🔴As an example, this chart depicts the rally of BITCOIN towards its ATH . The price drops right back to the 23.6%, after which the price stabilizes and continues in the uptrend 🔵The next chart shows the ETHUSDT on the 4H chart. As we see, the price is going back to the 23.6% and then 38.2% zone, but it failed to stabilize and falls to the next 50% retracement level and returned . Prices recovered and made a new high, continuing the previous uptrend. ⚪Fibonacci Analysis allows you to determine the support and resistance levels of a price correction and more importantly helps you find price targets and potential reversal points Almost in any market for instance in the past rally for ADAUSDT, I used Fibonacci to determine the possible targets, and it exactly worked:🎯🏹 🔰How to draw Fibonacci retracements on the chart: It is best to use candlestick shadows so that the analysis includes the extremes of market sentiment. Most of the time the difference is not significant, but sometimes it is crucial. The example below shows how the Fibonacci retracement was drawn to the shadows of the candlesticks from the trend low to high. The measurement should be in the same direction as the price movement. After the measurement, the horizontal lines can be seen in the chart. These lines are potential support and resistance levels. 🔰Fibonacci retracement as part of trading strategy: Fibonacci retracements can be very efficient for timing a trend. This method is often used by traders as part of trend strategy. With this strategy, traders monitor key price levels within a trend. This means they buy when the market is going up and sell when it is going down. Traders try to place orders in the same direction as the original trend (less risk). In this scenario, you assume that the price has a certain probability of bouncing off the Fibonacci levels and moving back in the direction of the main trend. In our example, the price dropped to the 38.2% level before correcting again. The probability of a turning point in the market increases sharply, 🔰Powerful and sometimes useful: Fibonacci retracement is a powerful tool and useful because it often marks reversal points with uncanny accuracy. Because of this, it should be used in conjunction with other indicators to identify potential trading opportunities. also There are five types of trading tools that are based on Fibonacci's discovery: arcs, fans, retracements, extensions, and time zones and ... . The lines created by these Fibonacci studies are believed to signal changes in trends as the prices draw near them.
Education
by PRO_SMART_Trader
2
📌7 Key Tips to Improve Your Trading ✅1. Predictions and Forecasts Are a Waste of Time It's not about how many of your predictions were accurate, it's about when you was right and predicted correctly ,how much money you have gained ! Actually Predictions and forecasts are interesting and can help us prepare for volatility ahead, but it is the reaction to changing events that is the most important. Moving to the sidelines as a downtrend emerges will protect you better than any prediction or forecast. It is reacting decisively that works far better than predictions and forecasts. Don't focus on anticipation and predictions. Focus on vigilance and reaction. ✅2. Compound Your Profits by Keeping Your Accounts as Close to Highs as Possible Nothing is more counterproductive than making up losses. If you lose half of your money, you must double it to just return to even. If you are zealous at keeping your accounts near highs, you will outperform over the longer term. Long-term buy-and-hold investing is often promoted because it allows you to compound your money and that it is what makes investors such as Warren Buffett so successful. but take it in mind Compounding fails to work when you suffer big drawdowns and losses.so The key is to address it and not just sit there. ✅3. Profits Occur Sporadically The market is, and always will be, cyclical. It goes through ups and downs of various magnitudes on an irregular basis. Newer traders likely have a very unrealistic view of the bigger market picture. The style of trading that is working right now will not last forever and if you do not appreciate that fact, then your career in trading will be short-lived. Traders should be mindful of the 80/20 rule. Most traders will typically produce 80% of their profits in 20% of the time. The other 80% of the time they make little progress. New traders that have immediate success will have a tough time dealing with this fact as the market shifts. Many have been spoiled recently by a fantastic market and they will give back much of their profits and eventually give up in defeat because they are not prepared for the inevitable shifts the market will undergo. ✅4. Use Charts Charts are often dismissed as voodoo by the same people who are confident of their ability to predict macroeconomic events, but they miss the main point. Charts are useful because they provide a framework for discipline. There are millions of ways to use charts, but at the heart of every method is cutting losses and letting profits run. Don't think of charts as a way to predict the future. Think of charts as a way to manage your existing trades. The charts will help you when to buy and when to sell, but they won't tell you what is going to happen in the future ✅5. No Trading Approach Is Inherently Superior The best approach to the market is highly subjective. Some people do very well with trend-following and momentum. Others do equally well with value plays and fundamentals. What works best will depend on how you view the market and the methodology you use to protect capital and find new stocks to buy. ✅6. Trade Incrementally and in Multiple Time Frames Most people think of the trading and investing process as being a single buy and then an eventual sale. They decide that this is a good stock, buy it, and then sit there and hope that it works out well. There is no strategy involved in this sort of market approach. You lose your power to control the situation when you trade in this manner. The better approach is to move incrementally ✅7. Trading Is Hard, Which Is Why It Can Make You Rich If you read social media, it is easy to develop the impression that thousands of people make a huge amount of money with a steady diet of great stock picks. The reality is that trading is tough and that even the best traders have substantial losses along the way. The very best traders are those that embrace the inevitable of poor trades and make them part of their process. No matter how good you are at trading, you will have losing streaks and be hit by tremendous bad luck at times. It is the nature of the beast. Work on developing a style that makes sense to you. If it doesn't work as well as you'd like, keep modifying it. The market is constantly changing, which means what works best will shift all the time. Just make sure you keep in mind the discussion about how profits tend to occur sporadically.
CME:BTC1!Education
by PRO_SMART_Trader
BOS - BREAK OF STRUCTURE 📉📉📉🎯 WHAT IS BOS ? BOS - break of strucuture. I will use market strucutre bullish or bearish to understand if the institutions are buying or selling a financial asset. To spot a bullish/bearish market strucutre we should see a higher highs and higher lows and viceversa, to spot the continuation of the bullish market strucuture we should see bullish price action above the last old high in the strucutre this is the BOS. 🎯 BOS for me is a confirmation that price will go higher after the retracement and we are still in a bullish move Kindly see attached photos Do you use BOS as a trading concept ?
Education
by AnonimFXRO
2
DXY INDEX TUTORIAL 📉📉📉🎯 DXY - USD Index USDINDEX - The U.S. Dollar Index (USDX, DXY, DX, or, informally, the "Dixie") is an index (or measure) of the value of the United States dollar relative to a basket of foreign currencies, often referred to as a basket of U.S. trade partners' currencies, this index helps us to understand if USD is bullish or bearish on a short term or long term perspective. 🎯 DXY has two correlations one of them is positive meaning the certain assets moves like DXY and negative corelation meaning certain assets move exactly vice-versa. ✅ DXY Positive Correlations DXY ⬆️ USDCAD ⬆️ USDJPY ⬆️ USDCHF ⬆️ USDRUB⬆️ USD XXX ⬆️ ✅ DXY Negative Corelations DXY ⬆️ EURUSD ⬇️ GBPUSD ⬇️ AUDUSD ⬇️ NZDUSD ⬇️ From a technical standpoint to have a better probability in your trades try to find entries when both DXY and for example USDCAD are in long poi (point of interest) this will increase your chance of having profits as you use inter-market correlations
TVC:DXYEducation
by AnonimFXRO
SUPPLY vs DEMAND 📉📉📉✅1) Use longer time frames to identify supply and demand zones By zooming out, traders are able to get a better view of areas where price had bounced off previously. Be sure to use the appropriate charts when altering the between multiple time frames. Draw a rectangular shape to denote this zone. Demand and supply zones do not necessarily have to appear together - often currency pairs can reveal one or the other. ✅ 2) Identify strong moves off the potential demand/supply zone Certain price levels offer value to either bullish or bearish traders. Once institutional traders and big banks see this value, they will look to capitalize on it. As a result, price action tends to accelerate relatively quickly until the value has diminished or has been fully realized. Witnessing multiple instances of this at the same price level increases the probability that it is an area of value and therefore, a supply or demand zone. ✅ 3) Use indicators for confirmation of support and demand zones Traders can incorporate daily or weekly pivot points to identify or confirm supply or demand zones. At DailyFX, we have a dedicated page showing relevant support and resistance levels for all major markets. Traders should look for support and resistance levels to line up with demand and supply zones for higher probability trades. 🏦 Often, a currency pair will climb to an area of resistance called a ‘selling zone’, where sellers perceive there to be great selling potential at a relatively overbought price. The reverse is also true for currency pairs that drop to relatively low levels, ‘demand zone’ where buyers perceive there to be great value to buy. If you haven’t learned the basics of the supply and demand, or would like a refresher, read our guide on the forces of supply and demand. 🏦 Supply and demand zones are observable areas on a chart where price has approached many times in the past. Unlike lines of support and resistance, these resemble zones more closely than precise lines. Traders can customize charts to identify the demand and supply zones Do you use this concept ? 🔥
BINANCE:BTCUSDEducation
by AnonimFXRO
educational 🧙 ♂️ Buying rumors and selling news to those who still don't know or follow me recently Buying a rumor and selling the news is a trading practice Rumors are an essential component of price action, and news is one that has the opposite effect. In other words, it will give the trader more focus on rumors rather than news. In addition, it will be the entry point when rumors emerge, and the exit point when news emerges. This trading strategy places great emphasis on the timing of each trade as the rumors and news come in other than the technical analysis of the stock or asset. Knowing that news and rumors are about to emerge, traders make important trading decisions after these events. If you don't understand, then see the world upside down 😂😂 An example of simplification The market from the beginning of the week was expected to raise the interest rate, so gold is correcting downwards (this is a rumor buying) While after the news is released, gold is expected to rise, and this is (selling the news).
Education
by Elrouby
Bullish Gartley patternBullish Gartley Pattern: It starts with a bullish XA move. AB is then bearish. BC is bullish, and CD is bearish again. XA: This can be any price activity on the chart. There is no specific price movement in Gartley chart formation. AB: The AB move should be approximately 61.8 % Fibonacci of XA and should not cross the starting point X. If it crosses X then the pattern becomes invalid. BC: The BC move should finish between 38.2% and 88.6% Fibonacci of XA and should no cross point A. If it crosses point A then the pattern becomes invalid. CD: The CD move will be the final and important part of the pattern and to place a long trade when CD is 78.6% of XA. Ideally point D should represent 127% to 161.8% Fibonacci of BC. Look for entry at point D once you see the trend reversal. Note point D cannot be cross the starting point X. If it crosses then the pattern becomes invalid. Profit Targets: The full target price of the pattern is the 161.8% Fibonacci extension of the AD. However, there can be 3 intermediate targets before the final target which are: Target 1: point B swing Target 2: Point C swing Target 3: Point A swing Target 4: Point E 161.8% Fibonacci of AD Note that you can only draw (AD) Fibonacci retracement once the pattern has completed at point D and the price has reversed. Stop Loss : should be just below X with a support channel. If you like my TA & ideas!! Want to keep yourself updated with current market action, then please follow my profile for more analysis.
BINANCE:SCRTUSDEducation
by Tron029