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Impulse

CHFJPY - Identify These Moves - FULL Breakdown 📚A key part of technical analysis is to identify the different phases and patterns in the market. So, what can we see? - We can see that we're within a major ascending parallel channel and price has been respecting it. When price approaches either extremes of the channel, it rejects aggressively. - There are 2 key phases at play here. The blue phase is the impulse and the red phase is the correction. - The impulse phase is an upward movement and the corrective phase is a downward move After identifying these phases, what next? - So now that we know that the impulse phase ends at the upper limit of the channel, we know there's a corrective move coming back down to the channel support. - If there's enough momentum, we can break the channel support and keep falling. As we're in an ascending channel, it is often a reversal pattern = there's a high chance that CHFJPY can come back down all the way to 109 - Now we need a trading plan to enter this trade How do we trade it? - The risk entry would have been at the rejection of the channel resistance - The safe entry would be to identify when the impulse has ended. One way we can do this is by identifying when the uptrend has ended. This can be done by using a trendline (like the one we have) and watching for a break to indicate that the uptrend has ended and the next phase has begun. Trade Idea: Watch for the ascending red trendline to break and enter with stops above the channel. First Target: Target the channel support for first targets (500pips) Second Target: The bottom of the channel (1,600pips) Hope this breakdown was helpful. If so, do leave a like and comment what you think!
Education
by WicktatorFX
16
USDJPY Clean Bullish Price Action, Don't Miss the Setup Hi everyone USDJPY and other JPY pairs have been showing signs of weakness in JPY. We can see from the higher time frame that price has already impulse up and out of the larger, correction. It formed into a smaller continuation correction which is what we see here on the lower time frame. () This is all good to see from a multi-time frame point of view. Both the HTF and LTF have same bias here. To confirm the upside move, what I would wait for is price to push and impulse higher out of the current correctional structure, and form smaller, LTF continuation correction to confirm the buy entry. thank you
Long
by jojofang0901
19
XAUUSD (Gold) is heading towards 1849 due to extended FifthHi trader, today I want to discuss a 1:2 RR trade on current XAUUSD movement and my thoughts about why I choose this trade. Gold's price action is in a clear impulse since we have multiple confirmations for it, just like volume or Fib-Levels that are reacting exactly like they have to react when it comes to an Elliot Wave Impulse. However, Gold managed to cross the 0.618 extension Fib. This is given due to the fact that wave 1 and wave 3 are nearly equal in length. This usually leads to an extended fifth wave, since one wave has always to be extended. We broke above 0.618 and managed to close there. So, whats next? In this case a usual fifth wave target would be the 1.618 extension for wave 5, that is measured from the bottom of wave 1 to the bottom of wave 4. We are confident with this analysis and chose to long on every dip we see until we reached our target. This is not financial advice. RL from RT-Trading
OANDA:XAUUSDLong
by RT_Trading_
4
BTC Patience Pays Off For Bullish Buyers hello traders: BTC briefly broke the ATH around mid October, but quickly move down and form into a consolidations. This is expected as market tends to tag out impatient FOMO traders before resuming the impulse phase. From a technical point, we can see from my previous outlook, price indeed impulse up from the bottom after forming a reversal correction. It continues to climb higher by forming smaller, lower time frame continuation corrections. The latest development shows price hits ATH, and formed into a consolidation. This is generally good for further upside potential. My plan would be wait for price to push up above all previous highs, and formed into a lower time frame continuation correction, that would be the confirmation I need to enter for a buy. Be careful as price can still continue to correct/consolidate, so best to wait for the confirmation on the LTF. thank you
BITSTAMP:BTCUSDLong
by jojofang0901
40
NZDUSD Watch For Buy Setups Hello traders: As I am bearish on the USD overall, and expecting further weakness in the USD pairs overall. Here on NZDUSD, we can see price had a strong bullish impulse move up, and price falls into a larger, higher time frame correctional structure. With a few swings highs and lows, it validates a structure here that can be a continuation correction for further upside. Latest development on the LTF shows price has impulse out of the the HTF structure, good sign s of further bullish momentum. Wait for lower time frame bullish continuation to form and complete, then look for entry to the previous highs. thank you
Long
by jojofang0901
28
USDCAD Broke Previous Lows, Watch for Continuations Hi traders: Looking at the USDCAD's price action for potential further downside opportunity. We can see after price has hit the higher time frame double tops, it corrects into an ascending structure, which is a possible indication of a reversal price action. We then indeed see a strong bearish impulse phase happen, and price pushed down aggressively. Now that price has manage to break pass the previous lows, good indication of further downside momentum from the price. We can now wait for a consolidation here to form into a bearish continuation correction, and look for sell entry down to previous lows as a potential target. Be patient and wait for setup to form :) Thank you
Short
by jojofang0901
40
Weekly Trading Recap: SILVER, EURGBP, UKOIL, DOW Nov 7th 2021Hello everyone: Welcome back to this week’s trading recap video. Let's take a look at the trades entered/closed this week from me. I will explain my approach on the entry, SL, TP and management. SILVER: Running Position Full analysis/forecast: UKOIL: Out for +0.40% profit Full analysis/forecast: EURGBP: -1.00% loss Full analysis/forecast: US30(DOW): -1.00% loss Full analysis/forecast: Any questions, comments and feedback welcome to let me know. If you like more of these contents, like, subscribe/follow and comment for me to keep doing them. :) Jojo
OANDA:XAGUSD
by jojofang0901
33
5 Key Advices To Share With Trader Who Is Struggling In TradingHello everyone: Lately many of you have messaged me about getting FOMO and entering trades without confirmations. In addition you can't seem to “not” enter trades when the market hasn't shaped up to your strategy and entry criteria. I am hoping in today’s educational video it can help some of you guys to get back on track. I want to share 5 main pieces of advice that can help out traders who are currently struggling. These are experiences and lessons that I accumulate throughout the 8 years of trading and in hope to help some of you who are struggling in your current journey of trading. 1. Do “NOT” think about get rich quick in trading -Trading is a marathon, not a sprint -90-95% traders fail due to a combination of: Greed, FOMO, mindset/emotion, risk management, trading psychology. -Trading is not a get rich quick scheme, but it can produce consistent, sustainable passive income if you can put in the time and effort -Most try to jump to the result right away, without going through the journey, that is not how life works. 2. No trading strategies, style, method can give you 100% strike rate -Trading is probability, not right or wrong. -Understand you can have the best strategy in the world, and still not be profitable. - Technical, Fundamental, Algo, EA...etc can all not work. This is why risk management is important to not over risk, over trade, over leverage your trading account 3. Backtest and journal -Backtest your strategy so your brain acknowledges and recognizes it over and over again. -Slowly build up confidence in your strategy and method. IT will come to you like second nature -Journal all your wins and losses so you can review them. Work on them, accept your mistakes to grow and improve. 4. Control your EGO -Human beings have ego to prove others are wrong and they are right -We refuse to admit we made the error/mistakes, and blame others/external as the cause. -Acknowledge that in trading, stop blaming the market, the broker, the mentor, the strategy...etc. -Don't take things personally and be offended by it. 5. Never Give Up -I blew several accounts in the beginning of trading career, gave up and quit trading multiple times -I always ended up coming back to trading. After taking time off. Whether that is weeks or months in the beginning journey. -No one is born into a trader, just like no one is born into a doctor, lawyer. -If trading was that easy, then everyone would be rich. -Success is measure by how many times you get back up when you failed I hope these pointers can help you guys to get more focus and get back on track in trading. Any questions, comments or feedback welcome to let me know, thank you Jojo Below I will share others educational videos that have direct relations to the topics above: Trading Psychology: How to deal & manage losses/consecutive losses in trading ? Trading Psychology: Revenge Trading Trading Psychology: Fear Of Missing Out Trading Psychology: Over Leveraged Trading Trading Psychology: Is there Stop Loss Hunting in Trading ? How to deal with it ? Prevent Blowing an account by backtesting: Risk Management 101
BITSTAMP:BTCUSDEducation
by jojofang0901
43
NZDCHF One More Up Move Is Possible Hi traders Similar across the NZD pairs, NZDCHF is also showing good signs of bullish price action. We can see price has already completed a higher time frame continuation correction. Price indeed push higher, and formed a smaller, lower time frame correction as well Latest development shows yet another impulse phase on the LTF, follow by another consolidation. This is good indication for another move up, just have to wait for the current consolidation to finish, and watch for the next impulse phase to push the price to previous highs. Thank you
Long
by jojofang0901
35
BTCUSD, A new long to 70kQuick update on the previous post that got stopped out ~60k on Oct. 27 We may be on an impulse wave 3 uptrend to 70k, but a breakout is not confirmed given the fact that: Price is still in downward parallel channel Hull MA hasn't crossed over to green Price hasn't crossed over the bearish trend of the Hull MA MACD hasn't crossed over yet Once at least 2 of these indications have been confirmed the likelihood of 70k increases This idea is invalid if we get another scam wick below lows of 58k on Oct. 27th. This may very well happen if we get a rejection at the Hull MA as of this posting. Overall: Support lines: -Monthly R2 at ~59.2k -0.236 fib retracement of minor impulse wave at ~59.1k -Lower parallel trendline support -Downward white trend line -Fixed range Volume profile low at ~58.8k Resistance lines: -Fixed range Volume profile high at ~63.3k -Monthly R3 CPR at 65.8k -Larger parallel channel upper trendline, if placed with the New Moon phase, it targets ~70k -Hull MA as of now -Upper trendline of low timeframe parallel channel Invalidations: -59k for minute impulse wave -0.5 fib retrace of minor impulse wave at ~51.4k
BITFINEX:BTCUSDLong
by linebands
USDJPY - SHORTThe price is below the Major Resistance Level. Bearish Harmonic Pattern has been completed. Consider the development of the South Impulse. First target is - POC. USDJPY - SHORT ENTRY PRICE - 114.200 SL - 114.700 TP1 - 113.700 (Breakeven) TP2 - 112.100 Always follow the 6 Golden Rules of Money Management: 1. Protect your gains and never enter into a position without setting a stop loss. 2. Always trade with a Risk-Reward Ratio of 1 to 1.5 or better. 3. Never over-leverage your account. 4. Accept your losses, move on to the next trade and trust the software. 5. Make realistic goals that can be achieved within reason. 6. Always trade with money you can afford to lose. Please leave your comment and support me with like if you agree with my idea. If you have a different view, please also share with me your idea in the comments. Have a nice day!
Short
by Profit_Trader
2
Elliott Wave Analysis: USDCAD Has An Unfinished Five-Wave DropHello traders! USDCAD came nicely down on the 4-hour chart with extended and strong drop from 1.2774, which has characteristics of wave 3 rather than C as the pair also moves very close to the typical 161.8% extension level. As such, we are aware of more weakness after the current consolidation that looks like wave 4, which can be a triangle or maybe more complex recovery to 1.2450 - 1.2500 for 38,2% Fibo. retracement, but in either case, we think that sooner or later bears for wave 5 will resume towards 1.22 - 1.21 area. Trade well! If you like what we do, then please like and share our idea! Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
Short
by ew-forecast
4
Weekly Trading Recap: NU, EU, EP, XAG, DOW, UKOIL Oct. 31 2021Hello everyone: Welcome back to this week’s trading recap video. Let's take a look at the trades entered/closed this week from me. I will explain my approach on the entry, SL, TP and management. I have mostly losing trades this week and the end of the month. Definitely not hiding it and acknowledge the losing month of this year. Certainly have room for improvement and reflections. Some of the trades actually were in good profits but ended up reversing and left some profits on the table (EURUSD). Some trades such as AUDNZD and GBPNZD from previous weeks went in the desired direction, but just didn't manage to be my full advantage as I followed my plan to exit accordingly. The last week was emotional for me and I took a few more trades that did not end well. I also closed down all the live trades such as Silver and Corn. Wanted to take a small break in between and get ready for November and the end of the year. My trading psychology for the last 2 weeks was not good, dealing with external issues on social media and negativity on the internet. But, no excuses here for me. Have to keep going and accept the mistakes that I made, and continue to work on the emotion and mindset here. SILVER: 2 positions closed for +2.50% profit Full analysis/forecast: CORN: +1% profit Full analysis/forecast: EURGBP: Out for BE Full analysis/forecast: BCOUSD/UKOIL: Out for BE Full analysis/forecast: US30(DOW): -1.00% loss Full analysis/forecast: NZDUSD: -1.00% loss Full analysis/forecast: EURUSD - 4 entries all closed down with total of 0.20% loss Full analysis/forecast: Any questions, comments and feedback welcome to let me know. If you like more of these contents, like, subscribe/follow and comment for me to keep doing them. :) Jojo
by jojofang0901
39
USDCHF Sell Setup, Watch for bearish price action Hello everyone: Also eyeing USDCHF for bearish downside price action. We can see price formed into an ascending channel, correcting the price up. At the top, a Head and Shoulder pattern has formed, and reversed the price down, good indication of a bearish reversal price action. Latest development shows price broke out of the ascending channel, and formed a bearish continuation correction. Expecting further downside from the price, watch for correction complete and look for sell down to previous lows as a potential targets. Thank you
Short
by jojofang0901
36
How to analyze the market from scratch (Impulse & Correction)Hello everyone: Many have asked me about demonstrating how to analyze the chart from complete scratch. When looking at my chart and educational video, it all seems very simple, but many are telling me they are struggling to identify the market. Today I will go over how I analyze the chart, from the Higher time frame down to lower time frame by using multi-time frame analysis, top down approach. Specifically by identifying price action, impulse and correction phases of the market. 1. Start from the Higher Time Frame (HTF): HTF can be any time frame higher than the daily chart, such as monthly, weekly, daily. Personally I like to use daily as a go to time frame as it is widely used by traders. 2. Identify the impulse phase of the market. Understand the impulse phase is a period of fast momentum, price is either pushing up or down very aggressively, and not much consolidation visible on the HTF. 3. Identify a period of consolidations. Using trendlines, connect the swing highs and lows of the price. This is to identify the correction/consolidation phase of the market. Which is the most important aspect in price action analysis. You will need to be very knowledgeable on the type of continuation, reversal correction patterns/structures the market usually will form. (I will share many price action patterns/structures that I identify and use in the market below) 4. Once you identify the HTF phase of the market, you will then go down to the Lower time frames (LTF). LTF can be anything under 2/1 HR, 30/15 Min charts. It's not a specific time frame, rather “Multi time frame analysis”. You will also identify the impulse phases & Correction phases on the LTF and use trendlines to connect the swing highs and lows of the correction/consolidation phase, just like what we did on the HTF. 5. Now that you have both the HTF and LTF charts drawn out, the key here is to have both the HTF and LTF tell you the same direction/bias. They should align up and have the same bullish/bearish bias. This will strengthen your probability of success. I always make sure when I am about to enter any trades, I want the multi-time frames all telling me the same story. Same bias, same direction. 6. Now all that comes down to is forecasting the possible entries, which I have made many videos on this topic and I will share some below. Understand you would always want to make sure you are either entering during the impulse phase on the LTF, or the price is about to start the impulse phase to gain the upper hands in the market. You do not want to enter when the price is in a consolidation which is why many traders end up losing money, stuck in the correction and price isn't moving too much, rather just sideways. 7. Continue to work on analyzing the chart from scratch, get comfortable at identifying the impulse phase in the market, and do backtesting continuously so you identify the corrections in the market. This will make you see the chart and the market completely different than before, and you will have a much better probability of entering trades that work out in your favour. Any questions, comments or feedback welcome to let me know. Jojo Below I will share many educational videos that will help you to understand more on price action analysis, impulse/correction phase, entry, forecasting, backtesting and more. Continuation and Reversal Correction Identify a correction for the next impulse move in price action analysis Multi-time frame analysis Continuation Bull/Bear Flag Parallel Channel (Horizontal, Ascending, Descending) Reversal Ascending/Descending Channel Reversal Rising/Falling Wedge Reversal Double Top/Bottom Reversal Head & Shoulder Pattern Reversal “M” and “W” style pattern Reversal Impulse Price Action Continuation/Reversal Expanding Structure/Pattern Risk Management: 3 different entries on how to enter the impulsive phrase of price action Risk Management: How to Enter and set SL and TP for an impulse move in the market Risk Management: When/How to move SL to BE and to profit in a running trade ? How forecasting can benefit your trading journey Backtesting & Chartwork on Forex Market Backtesting & Chartwork on Indices Market Backtesting & Chartwork on Crypto Market How & Why I backtest:
OANDA:XAUUSDEducation
by jojofang0901
40
EURGBP Bottom of Structure, Watch for bullish reversal Hello everyone: Also on my watchlist is EURGBP for potential bullish reversal opportunities. We can see after a strong bearish impulse phase, price falls into a larger, deeper correction. With few evenly swing highs and lows, a parallel channel correction is formed. These larger correction tends to be more neutral, and doesn't necessary have to continue that previous bearish price. Instead, what we get here on the lower time frame is a possible reversal correction at the bottom of the larger correction. If price can manage to reverse impulse up on the LTF, follow by bullish continuation correction, then expecting price to reverse to the top of the HTF channel correction. thank you
Long
by jojofang0901
40