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Harmonic Patterns

💸 In every book, there is something useful! And successfully plReview of the book " is it easy to Play on the stock exchange?!" - Vyacheslav Taran 🔦 Let's face it — according to statistics, 97% of traders lose money. And many experiments have proved that about 60-80% of professional managers (with diplomas and salaries under$ 100k per year) lose money within 5 years. We are not talking about newcomers who spend 15 minutes a day on trading, analysis, education and reading literature and dream of making millions of dollars by investing $ 100! 💣 Originally, when I read the book " is it easy to Play on the stock exchange?!» I had the impression that if I invested only $ 100-200, I could no longer work for my uncle, travel a lot and trade from anywhere in the world. And the worst thing that happened to me, I invested $ 50 earned more than $ 1000 for a week and believed it! At that time, I worked as a Manager at Grand Capital and received a salary of 5,000 rubles and a percentage of attracted clients. How do I remember the moment when I invested $ 50 (the company also gave a bonus of $ 50? the balance turned out to be 100$) and seeing the divergence on the Euro/Dollar chart, thanks to the hint and analysis of Sergey Kostenko, I gained a position from several deals and closed at +1000$. The Manager was not happy, but I gave Sergey a beer and we celebrated my first successful trade! But back to the book. 🏦 It is written in an interesting way, many live examples, many jokes and fascinating stories. But only for the first time, when reading the book for the second or third time, I already paid attention to another — what is the most important idea that I could extract from the book. As a rule, they are typed 10-15 pieces. And for me, as I realized the most important idea is that I can not live my life again, but I can do today what I did not do 10 years ago. What is the most important idea that you have extracted from this book? PS: Who follows my profile, knows that I find and give different flowers to my wife every day, that I run at least 1 km every day (and very often barefoot), that I use new opportunities every day... and this has already happened for more than 4 months in a row (and I get up every day at 4: 30 am, I practice "morning Magic" even though I do not go to work, since I have my own Fund and TOP deals that bring +200% at a time — all statistics are open).
Education
by ivan_gold_star_
BANKNIFTY - Another Harmonic in place.This chart looks quite clumsy displaying so many levels, but option sometimes, hence bear with me... In yesterday's post, I talked about banknifty had crab pattern on intra charts and if it sustains above 21400, it can move towards 21550 and index would trend only above 21560. What happened today: Index opened above our second level, i.e 21550, above which we had expected it to trend, and it did and made high around 21934. Price Action Learning: when the market opens above one level up and sustains the second level, chances of moving in gap direction becomes higher. For tomorrow: Intra chart now has another harmonic pattern in place and its prz aligns with prz of crab pattern. Bat pattern prz is quite precise i.e 21300 and crab last prz level is at 21200. Thus 21300-21200 becomes an important zone, which will decide the further trend in the market. Now sustaining above these levels, the index can test 21675 levels or today's session high, and any move above it may bring back the trending move. On the flipside below 21200, the index may slip further, immediate support comes around 20800 levels. Note: The market will be very volatile
NSE:BANKNIFTYEducation
by manuagarwal21
How To Trade Classical Head And Shoulder Formations.________________________________________________________________________________________________________________________________________ Hello Traders Investors And Community. Welcome to this idea about the classical head and shoulder top formation which can be found on smaller timeframes as also higher timeframes. Although there are inverted head and shoulder formations and formations which brake to the upside than to the downside there are often failures in these formations whereas this is the classical formation confirming the reversal with volume and the activated price-target with a high probability. The formation can be divided into 5 phases with each phase confirming the ongoing formation and besides that minor phases and major phases which increasing the possibility for the head and shoulder formation to form the final breakout and confirmation. The formation can be traded in several ways where the most common ways are either with the final confirmation or before the final confirmation, both with different risk-preferences and fitting to each trader individual approach. ________________________________________________________________________________________________________________________________________ Confirmational Phases 1.) Buying Climax On High Volume 2.) Consolidation And Declining Volume Upside Attempt 3.) Upward Breakout With Lower Volume To Prior Climax High 4.) Another Consolidation Like (3.) With High Declining Volume 5.) Neckline Forming By Lowest Point With Following Breakout ________________________________________________________________________________________________________________________________________ First Phase: Up to this point a strong upward breakout is reaching up to new highs with increased volume, this looks just like a continuation of the priors established uptrend till bearish pressure sets in and the first signs of weakness showing a possible stopping of the uptrend with firstly declining volume. Second Phase: In this phase, the price forms a consolidation zone which can look like a bull-flag or triangle in decreasing volume before it shows an upside breakout on low volume, this is also forming the overall left shoulder and the established channel can be used for the ongoing measured right shoulder. Third Phase: This is an important phase and the key point of the formation where another upside attempt follows with significantly decreased volume forming the head before showing a markdown with still lower volume marking weakness of the bulls and a continuation of the head and shoulder formation. Fourth Phase: This is the last attempt to form new highs in the structure with lower volume compared to the phases before and normally low momentum showing the increased weakness of the bulls before the initial markdown shows up and set up for the final breakout confirmation in the fifth phase. Fifth Phase: The final confirmation the fifth phase showing the break of the prior established neckline and therefore the last confirmation point where a breakout happens with high bearish volume confirming the following moves to the downside and activating the overall head and shoulder downside target. ________________________________________________________________________________________________________________________________________ Trading Approaches A.) Trade The Final Confirmation B.) Trade The Right Shoulder Forming Trade The Final Confirmation: In this approach, a trade on the short-side is placed when the dip down of the right shoulder penetrates the neckline which is confirming the overall formation, the stop-loss is placed above the right shoulder, a variation of this is to sell short when the right shoulder has finally broken the neckline to the downside but as this move can be volatile and fast it has to be done before the selling pressure sets in, the minimum target is the price projection from the high at the head of the formation to the neckline measured from the breakout to the downside. Trade The Right Shoulder Forming: This is the more speculative variation but can result in a good risk-reward and profit potential, in this scenario the trade is placed when the head with low volume has formed, price touched the neckline and the head of the right shoulder is forming on decreased volume, the stop-loss will be placed above the head of the formation or above the right shoulder. Placing the stop above the head of the formation in this variation will be the more logical and conservative approach, the targets in this variation are the same like in the first one with price projection of final confirmation. ________________________________________________________________________________________________________________________________________ When spotted right and traded in the mentioned manner the trade of this formation can lead to a good profit. Also, the volume is playing a major role in this formation, although it can vary in some cases it will add to a high probable trading setup on the short-side. There are other variations of the head and shoulder formation but they arent that accurate in the approach like the classical head and shoulder top formation pointed out here. ________________________________________________________________________________________________________________________________________ In this manner, thank you for watching, support for more tutorials and a good day! trading effectively is about assessing possibilities not certainties Information provided is only educational and should not be used to take action in the markets. ________________________________________________________________________________________________________________________________________
Editors' picks
BITSTAMP:BTCUSDEducation
by VincePrince
32
SBI CARD - Time to take pauseSBI Card Formed Bat Pattern on the daily chart with a precise prz in the area of 740 . This Pattern possessed three levels in tight zone of 735 - 742. The Bat is the most common and precise pattern and requires a smaller stop loss than other patterns.The 0.886 XA retracement is the most critical level in the Bearish Bat pattern. I Always wait for the entire PRZ range to be tested to validate the completion of the pattern, though it delays the execution process, but the trade you take then won't test much of your patience. Note : BC swing slightly exceeded the A Point , so its not a perfect Bat pattern, but i am considering it as a Bat pattern, because of the close alignment of various Fibonacci ratios in the prz area..So Slight adjustment/leeway is allowed in the real trading world.
NSE:SBICARDEducation
by manuagarwal21
1
BTCUSD Harmonic Summary April to JuneThis is just a summary of the Harmonics we have seen in play and how they manifested. Its been a wild battle between bearish and bullish harmonics... where will we end up- over 10k? Or below 8k? Not all bullish harmonics are bullish and not all bearish ones are bearish... the tricks of the trade in Harmonics is getting experienced in using them and other tools that can tell the story. In this chart we have ???? only to illustrate possibilities of the harmonics. Enjoy!
GEMINI:BTCUSDEducation
by Moorsc0de
📕"Rich dad"! The one who helped me discover my purpose!Review of the book "Rich dad, poor dad" - Robert Kiyosaki 📕 The book that is on the 1st place in my list of business literature, which has had the greatest impact on me and changed my life! As usual, I will divide my review into several parts - first the background, then the review, and at the end of the revelation and gratitude! For those who are interested in reading only about the book and the ideas from it, you can go immediately to the second part and skip the first, the pre-story. 👷 ♀ This is part 1. Change in thinking. How I met Kiyosaki and his book. 🏭 This happened in 2009, in September. At that time, I was working at the Admiralty Shipyards factory and my partner Vitaly Sergeev suggested that I attend a seminar on Finance from NSG-life Insurance (a network company). I was just on a two-week vacation and I thought it would be good for me. From 2006 to 2009, I worked at a factory and read a lot during lunch breaks. These were mostly books by Boris Akunin or Sergey Lukyanenko, which were recommended to me by my friend and partner Sergey Martyanov, which helped me escape from harsh reality into the world of fantasy. But there was also one book that sowed the seed of financial possibilities in my mind - the financier by Theodore Dreiser.you can read my review of It at the link in the comments. So, at this seminar "about success" from the NSG, the hosts told interesting ideas about how to earn an apartment by saving 10,000 rubles a month is not real now, it will be difficult and painful to do it in 20 years. But there is a better opportunity — on the stock exchange, you can do it in a few years, and with pleasure, and not suffering at a job you do not love. I wrote down the title of the book in my notebook (I also set my goals for the first time with a deadline and wrote them down in that notebook too — this is the most powerful tool on the stock exchange, which I will see later), I heard about the author for the first time — Robert Kiyosaki "Rich dad, poor dad" and went home to a communal apartment. At that time, we rented a two — room apartment with our colleagues, and the four of us lived together-me, Sasha Fadeev, Vitaly Sergeev and Alexey Lobsky, all working at the same factory. I downloaded a book from the Internet and started reading it. Began at 19: 00 and finished at 5: 00 in the night. I read it completely in 1 day! I remember well how the guys called me to go out and drink, and called me crazy with "this book" (they just promised to buy me a free beer if I gave up this idea). I was shocked by what was written there. At the end of my vacation, I left the factory and went to a training course in Forex Club, but this is a completely different story. I clearly divide the period of my life before and after reading this book. By the way, there was one funny moment, from September to November 2009, I read a lot, studied and made my first trade deals. And after I lost my first Deposit in Forex Club, I decided to get a job at the factory again, in order to earn more money, to make new capital for trading. When I got a job, I jokingly wrote in my application that I wanted to be a Director and earn $ 100,000 a month, and the bosses laughed for a long time. Well, after registration, I was able to work for only half a day, after an unbearable feeling of nausea, I immediately quit. Just on this day, the entire team was photographed and hung on the honor Board (I will add a photo), so that before I had worked even one day, I got into the history of "Shop No. 8". 🚢 Part 2 how is this book useful for me? What rich parents teach their children and poor parents don't teach them. This book is written in such simple and understandable language that many examples from it will be understandable even to children. There, in principle, the story begins with the fact that from his rich dad, the future millionaire learns how to break out of the "rat race", using his intelligence, will and financial literacy. Well, just reading this book, and doing what is not a favorite job in the factory, I was in the "rat race". ✍ Now if you highlight all the most important thing you can read in the book, it can be divided into several paragraphs: 1) Why do people go to an unloved and boring job or "rat race"? — The fear of being judged by society does not allow us to leave the rat race and become rich. "Fear and greed can make financially illiterate people make unwise decisions. — We do not learn financial literacy, despite the fact that it is vital for both personal and public well-being. 2) How can I start my journey to a better life? — Financial self-education and realistic assessment of your funds are steps on the way to wealth. — To become rich, you must learn to take risks. — On the long road to wealth, do not lose motivation. - Laziness and arrogance can lead even financially literate people to poverty. 3) what do successful investors think? - Invest only in assets and avoid liabilities. — Your profession pays the bills, but only your own business will make you rich. - Study the Tax code to minimize taxes. Even in the book, you will learn many times about the financial game "Cash flow", which helps in a playful way to understand and accept the ideas that Robert Kiyosaki speaks and writes about. Try playing this game after reading the book — it is a very useful and enjoyable activity! Knowledge that is not used in practice-die, and the game just helps to consolidate this knowledge. By the way, in my e-library there is a whole set of audio, e-books, and even games for your computer and smartphone, so use it, this is my gift to you (link in the comments) PS: I liked the "adviser" card the most in the game, because for those who found it, it was possible to get profitable deals very quickly and easily win the game. In my life, I always wanted to find such an "adviser" who would give me profitable deals on the stock market, but for 10 years I have never found one. There is one Chinese wisdom:"you Can't find a better friend, you can only become one!", and I realized that I can become such an adviser myself, giving great deals to friends and partners. We have already published 10 profitable deals (some of them brought +200%) and none of them were unprofitable. we have helped our friends, partners and subscribers become richer! And our PAMM account earned more than + 22% in USD in 4 months. You can read about it here: (link in comments) 🎲 Part 3 Thank you my dad and my mom! Powerful game in 10 years on the ZX Spectrum Now I live in Yekaterinburg and go through powerful self-development practices. I read a lot, attend a lot of seminars and different practices for the development of themselves and their abilities (even in Peru the Shaman in the ritual of "ayuasca"). So, after classes in Yekaterinburg, Anna Perot in the "Space of Truth" I have very sharpened my memories, which I have even forgotten. And it turns out that back in 1996, my dad Dima Kuznetsov and mom Elena Kuznetsova bought us a ZX Spectrum computer and I was already playing the financial game "SUPER PRESIDENT"! Damn, I was only 10 years old! And I remember very well the moment when I was able to change the structure of the game with the help of the" cheat code book", and instead of the initial $ 1000 I had millions of dollars on Deposit and passed it very easily, buying shares of various companies and selling them! I'm in shock! That child who was not yet 10 years old successfully traded shares! Now I am filled with such gratitude to my parents, who helped me discover my destiny as a child. I might have forgotten my purpose for a while, but I would have returned to it sooner or later! By the way, I gave my parents the first car — a Peugeot 306 convertible, and now they are moving around their hometown of Priozersk with comfort! Do you have similar memories from your childhood? What significant gift did you give your parents? Can you share it in the comments?
NASDAQ:ZMEducation
by ivan_gold_star_
2
🤯 Gold is already +100% and " Powerful practice for traders 4 J🙏 Hello everyone! 🤯 On July 4, 2020 at 17: 00 Moscow time, a webinar on "Powerful practice for traders — trading tribe" will be held with Sergey Nikolaev. 💰 This technique was developed by the legendary trader ed Seikota and described it in his book "the trading tribe". Edward Seykota is known that from 1972 to 1988 increased the account of one customer with$ 5,000 to $ 15 million. You can read about this by clicking the link in the comments. ✍ ️The trading tribe book was translated into Russian by Sergey Nikolaev, a person who conducts practices for the Russian-speaking community and is considered the best sitter of the trading tribe method in the post-Soviet space. 📛 Important! If you have not read the book "trading tribe" then you may not understand anything at the webinar, so we recommend that you read the book before recording for the webinar. To get a link to the webinar, write to me in the messenger or social networks that are in your profile. 👍 Have a nice day!
GEducation
by ivan_gold_star_
1