Horizontal
Why Diagonal Trend Lines Are DangerousHorizontals > Diagonals, but good to use together to help support your thesis of a trend reversal.
Diagonal and horizontal S/R break is strong but if only using one, use Horizontals.
See this chart as an example as to why Diagonal breaks can fail you...
If you bought the breakout at the close above diagonal, where do you put your stop? below the trend line? Well, you can see that it would have been 23% loss before a close below diagonal. Where as it would have only been a 3.5% loss if you entered and exited the horizontal break.
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Top 10 trading tips:
1. DO NOT FOMO into PUMPs.
2. Set a strategy and be consistent. The more you use the same strategy with the same $$$ amounts, you will be able to identify the winning set ups quicker and you will need to win less trades to be profitable over time.
3. Let your winners run and cut your losers short.
4. You will not win every trade, but if you are disciplined with great RM you don't need to be right all the time to win!
5. Before you enter a trade, make you know your target (or take profit target and let the rest ride) AND your exit strategy.
6. When you are up, you can use a trailing stop or trim off some profit at a logical resistance point with a stop loss at breakeven.
7. It is hard to deal with emotions when trading, set parameters up front so you keep your self accountable. (stop loss, take profit levels, etc)
8. Don't fight the trend. The trend is your friend.
9. Use multiple indicators to confirm your TA on price action.
10. Only trade what you are willing to lose. It will be hard to trade without emotions.
Please note:
- This is not financial advice.
- I do not take every trade I post.
- Never trade off of someone else's chart until you DYOR!
JPYUSD LongTime Frame: 4H
Bias: Long
Symbol: JPYUSD
We expect a bullish breakout across the horizontal trendline.
USDJPY Entry Price 114.517USDJPY. Support and Resistance Strategy. Price pulled back to Horizontal Support Level, EMA 10 Level, and EMA 20 Level. Support Level (114.452) has FOUR or MORE touches.
Hindcoper Hindcoper breakout near 115 and good move 115 to 180 again come near 115 and retest breakout range now trade at 124 sharply upmove possible in coming days target 150 160 180+++ sl 110 Closing basis
Analysis according monthly chart (horizontal lines touch and bounce)
EURCAD Entry Price 1.47792 Target Price 1.46609EURCAD (Pin Bar, EMA 10 EMA 20, Trend Line, 50% Fibonacci Retracement Level, Horizontal Support Resistance Level)
Horizontal Support and Resistance Level 1.47674
Fibonacci 50% Retracement 1.47932
GBPNOK Target Price 12.36015GBPNOK Horizontal Support Resistance, EMA 10 EMA 20, Trend, and Pin Bar Strategy.
LTCUSD Entry Price 119.10Watch for a price action signal in the form of a pin bar at horizontal support resistance price level 119.10.
CRYPTO TECHNICAL ANALYSIS DNT/USD MY OWN ANALYSIS
NOT FINANCIAL ADVICE
REFER TO CHART TO READ MY ANALYSIS
FROM ME TO MY FELLOW CHARTIST ;)
BTC Horizontals: Then and NowHere is a nice clean look at the key horizontals from the 27k - 45k price range, from when BTC was on its way up earlier this year...
and how they look relative to where BTC is currently trading at.
// Durbtrade
Bitcoin (BTC) Long-term & Mid-term AnalysisBitcoin (BTC) Long-term & Mid-term Analysis
As you can see Bitcoin tested Weekly support and EMA21 and so far a not-so-good bounce. still, the Weekly trend is not bearish.
However Daily is starting to change of behavior because when BTC corrected from $58k to $50k, open interest rose up.
On a weekly basis, if $45k breaks, the $38k ~ $32k range test would be highly probable.
But until then Bitcoin could create a very boring range now and just frustrate people.
At lastThe bottom could finally be confirmed if today's low holds.
If November/December highs clear, new ATH's are in sight.
XAUUSD Pin Bar on Date and Time 07 APRIL 2021 12:00 | 3.19RXAUUSD Pin Bar 07 APRIL 2021 12:00. Confluence is Pin Bar, Exponential Moving Average Period 10, Exponential Moving Average Period 20, Horizontal Support Resistance Key Level.
Reward Risk Ratio is 3.19R
07 April 2021 Chart
CRSP - Ripe for ReboundLooks like Nasdaq is done correcting and looking up now as many stocks have corrected far enough and hit major supports.
One example here is CRSP. It had formed a head & shoulders earlier which followed thru all the way to hit just $2 shy of its H&S target at 98 on 5 March. Bounced and then retested close to this support zone (which comprised both the H&S target and the 61.8% fib retracement of it's entire AB swing up).
Time to accumuate. with initial stop loss slight below it's recent swing low 106. Trail profits up.
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you. Feel free to give me your thoughts ! :)
