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BTC Where is it heading to ? Price Action Structure is key Hello everyone: Many have asked me about my view and analysis on Bitcoin and in general where the crypto market may go. Personally I think price is in a corrective phase and there is no need to rush to enter long or short. Sure there is some lower time frame movement and price action, but not enough development for any bigger impulses in the market. My plan is to always wait for higher time frame corrective phase is soon to be over before consider the entries on the lower time frames. So, how to approach BTC ? Well lets take a look at the corrective phase the price is currently in right now. 2 possible scenarios after the correction completes would be: Either we are going to see further downside from the price, as price attempts to make one more move to the upside completing a continuation correction for the bearish move, and price impulse down further. OR We are going to get a bullish impulse from the current structure itself, breaking above the previous lows of the ascending channel correction, and form bullish continuation correction after. Patient is key when it comes to trading. No need to always jump in and choose a direction or a bias. Lets the price come to you. Thank you :) Jojo
BITSTAMP:BTCUSD
by jojofang0901
81
Power of compounding interest, but why do traders still fail ? Hello everyone: Welcome to this quick educational video on Compounding interest in trading. Today I want to break down the benefits of compounding a trading account while keeping good risk management at bay. The reason why compounding interest is so lucrative is due to investing interest on top of interest, and your trading account can grow much faster than traditional investment returns. The important note is that, by having strict risk management rules, proper trading plan, the account can grow over time. But why do many traders fail to do so ? Let's take a deeper look into this: Many new/beginner traders often get involved in trading due to its profitable potential. However, most of them do not learn about risk management, trading psychology on mindset and emotions. They tend to over trade, over leverage their accounts in hope to double it in a short period of time. This almost always leads to traders to blow their accounts, and re-deposit more money to “chase/revenge” their losses, and the cycle continues. The truth is, growing the account by compounding can eventually double a trading account, but only in time and with strict risk management rules. However, the greed, emotion and mindset often become the tread stone for the traders’ success. It's important to understand that having a consistent, sustainable approach in trading can lead to profits and growth over time, but it's not something that is instantaneous, which is what most new/beginner traders often misunderstood. This can be due to social media, and lots of typical trading “guru” out there promising guaranteed results and easy money. Take a step back and think about compounding interest in time and scale. 5-7.5% return per month may not seem much for a small trading account, but it is sustainable and consistent by not over-risking and over-trading. In time when the account is at a larger scale, a few % return with compound effect in a year can generate very sizable return and growth. In today’s trading industry, there are many prop firms out there that allow you to trade their funds, if you can be consistent and sustainable. Understand these firms are not looking for traders to double their larger capital, rather, to have consistent return and proper risk management. When you can prove you can be consistent to compound a small account, then when you actually do trade a larger account, the % return would be the same. Last Note: Build up the right habits from the start. Your job in the beginning of trading is not to make massive returns, rather to focus on risk management, control emotion, and understand trading psychology. Once all these are checked, then you will be miles ahead of other traders who are still struggling to understand the concept. Any questions, comments or feedback welcome to let me know. Thank you Jojo
BITSTAMP:BTCUSDEducation
by jojofang0901
149
GBPAUD Get Ready for the Bearish Impulse Down Hi everyone: Looking at GBPAUD's price action for the potential sell opportunities. We can see the price is currently correcting in the larger, higher time frame parallel channel structure, continue to move correctively to the previous tops The latest price action shows us a lower time frame ascending channel reversal, good indication this could be the start of that reversal bearish move. Certainly price can continue to correct higher, as long as its still in the corrective phrase. The confirmation would be the strong bearish breakdown from the price, and LTF continuation correction to form and complete.
Short
by jojofang0901
24
AUDCAD Reversal Price Action for the buy Hi traders: This week I am looking at a few AUD pairs, and AUDCAD and GBPAUD are looking very clean. Here on AUDCAD, we can see the bearish trend has already happened and price dropped down from the top quite a bit. Latest price action shows a consolidation phase where price is moving slowly and sideway. Good indication that is forming a descending channel structure, and could give us a reversal opportunity. The correction isn't complete yet, so be patient here as price can continue to correct. Where as the confirmation would be a clean bullish breakout, and a lower time frame continuation correction to get in the on the buys. Thank you
Long
by jojofang0901
9
💨𝙀𝙡𝙡𝙞𝙤𝙩𝙩 𝙒𝙖𝙫𝙚 𝙋𝙖𝙩𝙩𝙚𝙧𝙣: 𝙄𝙢𝙥𝙪𝙡𝙨𝙚🌊●● 𝙄𝙢𝙥𝙪𝙡𝙨𝙚 (IM) ❗❗ Rules ● An impulse always subdivides into five waves. ● Wave 1 always subdivides into an impulse or a diagonal. ● Wave 2 always subdivides into a zigzag, flat or combination . ● Wave 2 never moves beyond the start of wave 1 . ● Wave 2 always ends in the territory of wave 1 , and wave 4 in the territory of wave 3 . ● Wave 3 always subdivides into an impulse. ● Wave 3 always moves beyond the end of wave 1 . ● Wave 3 is never the shortest wave. ● Wave 4 always subdivides into a zigzag, flat, triangle or combination . ● Wave 4 never moves beyond the start of wave 2 . ● The termination point of wave 4 never moves beyond the end of wave 1 . ● Wave 5 always subdivides into an impulse or a diagonal. ● Never are waves 1 , 3 and 5 all extended. ❗ Guidelines ● Wave 4 will almost always be a different corrective pattern than wave 2 . If the second wave is a sharp correction, then the fourth wave will usually be a sideways correction, and vice versa (alternation). ● Wave 2 is usually a sharp correction in the form of a single or multiple zigzag. ● Wave 4 is usually a sideways correction in the form of a flat, triangle, or combination . ● In rare cases, a triangle (one that does not include a new price extreme) in the fourth wave position will take the place of a sharp correction and alternate with another type of sideways pattern in the second wave position. ● Wave 4 typically ends when it is within the price range of subwave four of 3 . ● In an impulse wave, wave 4 should significantly break the trend channel formed by the subwaves of wave 3 . ● Wave 4 often subdivides the entire impulse into Fibonacci proportion in time and/or price. ● On rare occasions, wave 4 subwaves can enter the territory of wave 1 . As a strong guideline, no portion of wave 4 of an impulse wave can enter the price territory of wave 1 or wave 2 . ● Second waves of impulse waves would tend to go beyond the previous fourth wave at one lesser degree. ● Sometimes wave 5 does not move beyond the end of wave 3 (in which case it is called a truncation). ● Wave 5 often ends when meeting or slightly exceeding a line drawn from the end of wave 3 that is parallel to the line connecting the ends of waves 2 and 4 , on either arithmetic or semilog scale. ● The center of wave 3 almost always has the steepest slope of any equal period within the parent impulse except that sometimes an early portion of wave 1 (the "kickoff") will be steeper. ● Wave 1 , 3 or 5 is usually extended. (An extension appears "stretched" because its corrective waves are small compared to its impulse waves. It is substantially longer, and contains larger subdivisions, than the non-extended waves). ● Often, the extended subwave is the same number ( 1 , 3 or 5 ) as the parent wave. ● Rarely do two subwaves extend, although it is typical for waves 3 and 5 both to extend when they are of Cycle or Supercycle degree and within a fifth wave of one degree higher. ● Wave 1 is the least commonly extended wave. ● If wave 1 of the impulse is the leading diagonal, then one should not expect wave 5 in the form of the ending diagonal. ● When wave 3 is extended, waves 1 and 5 tend to have gains related by equality or the Fibonacci ratio. ● When wave 5 is extended, it is often in Fibonacci proportion to the net travel of waves 1 through 3 . ● When wave 1 is extended, it is often in Fibonacci proportion to the net travel of waves 3 through 5 . In addition, wave 2 can subdivides the entire impulse into Fibonacci proportion in time and/or price. Elliott Wave Principal 2005 & QA EWI.
BITSTAMP:BTCUSDEducation
by TradeWaves-EWA
4
USD Pairs Bullish Outlook before NFP (GBP, EUR. CAD. AUD, NZD) Hello everyone: Since I couldn't do the mid-week market update live stream, I thought I would go over the USD pairs in more detail in this quick video. My overall bias on the USD is strength in them, so I pointed out 5 USD pairs that could shape up for such opportunities. Like always I need to wait for confirmation from them, so they are very close to shape up for the entries, and I would be watching them very closely. Feel free to let me know if you have any questions, comments or feedback. Thank you
by jojofang0901
34
USD Bullish OutlookUSD Bullish Outlook Hello traders: USD has certainly shown us some strength from yesterday, and many of the USD pairs are looking very clean for some bullish move in favor of the USD. We can see here on USD index, price slowed down when it reached a double bottoms area, correcting within the descending channel structure. Finally we see some bullish LTF breakout from the correction, good indication of strength. Lets see if we can get a continuation correction to develop and complete to give us some entry for the next move up the the previous tops. Thank you
TVC:DXYLong
by jojofang0901
10
AMC Is there Bullish price action to continue Hi traders: Aside from all the recent news on AMC and other stocks, lets talk a look at the technical sides. We see price was at all time lows of $2, seemingly going down more. However, price action may give us clues on the overall future. From the all time highs of a double tops, price pushed down and then formed continuation to push down further. But, it begin to formed a reversal correction, looks like a fallen wedge/descending channel. Sure enough price getting squeeze to the bottoms, and eventually a strong bullish break out. This is always a good sign for continuation after a reversal correction. The test here is whether we can get a continuation correction, or a right shoulder for a H and S pattern to further continues the bullish price. Thank you
NYSE:AMCLong
by jojofang0901
53
Weekly Trading Recap: CADJPY, NZDJPY May 29 2021Hello everyone: Welcome back to this week’s trading recap video. Let's take a look at the trades entered/closed this week. I will explain my approach on the entry, SL, TP and management. Getting close to end of month, and overall pretty mellow. Quite normal coming from a bigger profitable month last month. Still very please with the result, +3.36% per the month of May. CADJPY: BE Full analysis/forecast: NZDJPY: -1% Full analysis/forecast: Any questions, comments or feedback please let me know. :) Thank you Jojo
by jojofang0901
32
Detail USD Outlook in Price Action Analysis (GBP, EUR, CAD) Hi everyone: Today I want to dig deeper into a few USD pairs that may shape up for a very good bullish move in USD in the near future. I narrow down the 3 best potential pairs, EURUSD, GBPUSD and USDCAD. EURUSD GBPUSD USDCAD Lets take a look at each of them, and see my analysis, forecast, and entry potential on all of them. As always, understand that price needs to develop into the right price action before entering any live trades. If it does not, then no entry and move on to other opportunities. Always have your own plan, management, entry, SL, TP that fits your trading perspective and expectations. Feel free to ask me questions, or comment/feedback. Thank you
by jojofang0901
38
Update ! NVDA goes for a larger correction.As shown in the chart , NVDA showed a down going impulse character so far which invalidates previous proposed abc correction. This indicates that we will face a larger correction for NVDA. In best case scenario, end of mentioned impulse which labeled as 12345 is around 540 and an up going counter trend correction may start there which may go to above 600 corresponding to 0.618 Fibo retracement. keep it in mind that it is best case scenario which means worse cases are also possible. As I always emphasize in my publication we need a bullish sign in every proposed support zone. Please Do not forgot to trade in the direction of the momentum if you decide to go long in proposed support price and stick to your stop loss if you open the position. There are always alternative scenarios. A wise trader should consider all alternatives. Wish you all the best my friends.
NASDAQ:NVDA
by SaeedSajedi
11
Detail Analysis and Forecast On the current JPY's Price Action Hello everyone: Many have asked me about what I think about the current JPY markets, so I figure a quick analysis and forecast on all of them would be the best way. I did go over them in today’s midweek market updates, but let's take a look at them more closely here. Remember, these JPY pairs need to develop the bearish continuation corrections on the lower time frames first before considering the entries. In addition, it's best to choose and filter out the best pairs to get in, as entering all of them won't make sense from a risk management view. Any questions, comments or feedback welcome to let me know :) Thank you
Short
by jojofang0901
37
GBPUSD top of the price action, watch for drop Hi everyone: Also looking at GBPUSD for the bearish opportunities. Price has been in a long term, higher time frame ascending channel correction, moving the price up to the current area. We can see on the higher time frame, we approach to a previous high, which is also where price formed similar price action. A double tops, "M" structure within the HTF ascending channel, and strong breakdown from the price. Very identical price action here as well on the lower time frame. What we can expect the price to do now is complete this lower time frame ascending channel correction, and look for breakout of the price follow by more bearish correction to go. Thank you
Short
by jojofang0901
42
GOLD Buy or Sell ? Price Action Is Key. Hello traders: Lately many have been asking about where GOLD might be going, and the question is always whether to bur or sell now. From my point of view, there is no need to rush to jump into the position right away. Let the price comes to you when its ready and execute is going to be more consistent and sustainable. So lets take a look at the overall price action. We know the price is in a higher time frame correction, flag/channel structure that has been correcting since August 2020. The latest price shows us at the top of this HTF correction, and depending on how you would identify structure, looks like price is breaking out now. As always I talk about don't jump into the trades just because price breaks some trendline, S/R line or other indicators. Wait for confirmation with a clear breakout, and a lower time frame continuation correction is best. This would be the first option to look for if it develops into such. Where as the second option would be to see if price will fail to break higher, instead have a reversal impulse on the LTF, pushed the price down out of this current ascending channel correction, then look for bearish continuation down. Very similar like the previous ascending channel that the price formed. Overall from a higher time frame perspective and long term outlook, I still would like to see this HTF flag/channel finish correction and leads to the upside. But we also need to acknowledge the price may or may not be ready now for the upside move, and we need to adjust and have plan to manage if it doesn't. As I always say, let the price come to you. Plan your trade, trade your plan. This is how we can be more consistent, sustainable in trading for long term. Thank you
OANDA:XAUUSD
by jojofang0901
55
CADJPY Can We Expect A Bearish Move here Hello everyone: CADJPY also is on my watchlist to look for a potential sell opportunity. We can see price has pushed up from the expanding correction, but is not showing us a strong bullish price action. Instead price is rather corrective and within an ascending channel correction. From the HTF we know there is a potential double tops that the price is currently at, and all these lower time frame price action is indicating to us a potential bearish reversal could happen. To confirm the downside move, first let the correction completes first, and wait for strong bearish breakout and a bearish continuation correction to form and look for sell entry down. Thank you
Short
by jojofang0901
29
GBJPY Third Time's a Charm? Hello everyone: GBPJPY has once again move up to the top of the overall structure now, and there could be a third opportunity to sell. We can see from previous 2 sells that pushed down the price, but just failed to break lower and continue. This is a indication that price is getting ready for a bigger correction, and is still consolidating. Latest price finally made another move up to the top of the HTF correction, and we see LTF ascending channel correction as well as mini-double tops also. To confirm the downside move, wait for the ascending channel to complete correcting, and look for strong bearish breakout and continuation correction to get on on the sell. Thank you
Short
by jojofang0901
23
WAVESUSD Another Bullish Up Move. Hi everyone: Also eyeing WAVES for another bullish opportunity to the upside. We can see price had a strong bullish impulse surge to the upside, and is now forming correction. Naturally price needs time to correct the previous bullish move, and we start to see a bullish continuation structure, flag/channel in the making. Currently price is at the lows of the correction, so best to wait for a completion of the correction its in , and look for bullish breakout and continuation correction to go higher. Thank you
WLong
by jojofang0901
21
MATIC Good Bullish Continuation Opportunity Hello trader: Been paying attention to MATIC as the price has pretty strong surge for the last few months now. Looking at the price action on the lower time frames, we can clearly see bullish price action to continue push the price up. Smaller impulses and corrections are good sign of the continuation trend, which is what we see here. The latest price is once again correcting in the consolidation, further adds confluences to look for buy opportunities. Wait for this current correction to end and look for buy entries up to $2, and if price can impulse break above, the look for further LTF continuation to scale in more buys. Thank you
MLong
by jojofang0901
32
DOGE Is It Ready For the Upside ? Hello everyone: Let take a look purely in technical perspective in DOGE. DOGE's price has pushed down since the start of the week on Sunday, and to a recent lows around $0.35. From my last outlook on DOGE, I mentioned that if price was to pushed down pass previous highs and formed bearish continuation correction, then we can see potential further downside. However we can see the current price action on the LTF has show us otherwise. With the descending channel correction, a strong reversal impulse bullish move up, followed by a quick continuation to breakout of the larger descending channel correction. Good probability that the correction/consolidation could finished here. I would be waiting for a LTF continuation correction now as price broke out of the correction, or If no correction formed, expect one more moved down correctively with the channel, before the next up move. Thank you
BITTREX:DOGEUSDLong
by jojofang0901
63
Weekly Trading Recap: CADCHF, AUD/NZDJPY, EURCHF ADA May 15 2021Hello everyone: Welcome back to this week’s trading recap video. Let's take a look at the trades entered/closed this week. I will explain my approach on the entry, SL, TP and management. CADCHF: Running Position Full analysis/forecast: AUDJPY: - 1% loss Full analysis/forecast: NZDJPY: +0.5% profit Full analysis/forecast: EURCHF: - 1.16% loss from slippage Full analysis/forecast: ADAUSD: BE Full analysis/forecast: Any questions, comments or feedback please let me know. :) Thank you Jojo
BINANCE:ADAUSD
by jojofang0901
33