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Investroy

BITCOIN: Bloodbath continues. Corrections are on the way for nowBitcoin has been dropping for a while and there are clearly no bullish indicators as of right now. Looking at the DAILY timeframe chart, it can be noticed that the price is ranging within the borders of the descending channel. After consolidating for almost a month, the price has finally been able to print massive bearish candles and break the lower barrier of the sideways-moving range. Although our overall sentiment remains bearish for the upcoming period of time, we will be looking into opening short-term BUY positions. The price is trading at the lower barrier of the formed descending channel, and we are expecting for some consolidations to happen around the local area before opening BUY positions and aiming for the upper boundary of the channel. At the same time, this particular area nicely lines up with the area of previous support now turned resistance that aligns with the 0.618 Fibonacci retracement level. Happy trading, everyone!
BITSTAMP:BTCUSDLong
by Investroy
29
EUR/JPY: the growth is about to continue. Where to buy from?As it can be inferred from the graphical illustration, the price of EURJPY is trading within the borders of the ascending channel. At the moment, the price is forming a bottom at the area of previous resistance later turned support that nicely lines up with 50% Fibonacci retracement level. After receiving some confirmations on the lower timeframe charts, we will be looking at executing BUY positions and aiming for the area of the current Higher High plotted on the chart.
Long
by Investroy
17
GOLD (XAU/USD): detailed chart breakdown. Where are we headed?For a whole month from 18/04 till 18/05, Gold experienced a massive bearish run. As it can be inferred from the graph, the price was ranging within the borders of the formed descending channel before printing a massive bullish candle and breaking out of it. The price has been consolidating ever since breaking the upper boundary of this downtrending range. As it is written in the textbooks, after a consolidation phase is over, an impulsive move is on the verge of happening. On the 10th of May, right before the market closed, a really strong bullish candle was printed. This gives us confidence in the fact that bullish moves may be around the corner. We are gonna closely monitor the price action and patiently wait for the price to break the upper boundary of the sideways-moving range before we launch BUY positions and aim for two targets illustrated on the chart. Happy trading, family!
OANDA:XAUUSDLong
by Investroy
9
USD/JPY: a correction is needed before further bullish movesDue to the weakness of the Japanese Yen, JPY pairs have been absolutely impulsing for the past few weeks. Taking a look at the Daily timeframe chart of USD/JPY, it can be inferred from the recent few candles that the price is losing its bullish pressure and needs some corrections before continuing its growth. Zooming into smaller timeframes, we can see that after forming some sort of a sideways-moving rectangular box, the price has managed to spike above this range, and that now it is trying to get back within the borders of it. Implementing the Fibonacci retracement tool on the DAILY timeframe graphic and drawing it from the beginning of the impulsive leg to the end, it can be observed that the 0.5 level perfectly lines up with the zone of previous resistance later turned support that is illustrated on the chart. We are gonna closely monitor the price action and and wait for confirmations before entering short positions and aiming for the target plotted on the graph. Happy Monday, everyone!
Short
by Investroy
29
Different strategies of setting a Target ProfitSetting a Target Profit is an inalienable part of every individual's trading strategy, and each trader has his own plan and tactic of integrating a Target Profit into his or her trading style. While there are different ways and types of setting up a Target Profit, we are gonna go through four common and most well-known ones. 1. Key zones Setting a TP at a crucial zone of support or resistance is a strategy used mainly by swing traders. If the market is ranging, buying a security at the lower barrier of the rectangular box and aiming for the upper barrier of it and vice versa is commonly implemented in the market by middle or long-term speculators. 2. Risk-to-reward This technique is mostly utilised by day traders and it implies setting a fixed risk-to-reward ratio for every trade and use the "set and forget" logic. On the illustration on the top right graph, it can be inferred that even thought the price has more potential to drop to the downside, a fixed RR of 1:3 has been set. 3. Logic and intuition The more you trade, the more experience you gain. After some time on the markets, you will easily spot some patterns and price movements in advance, without being in need to have more confluences than usual. On the 3rd chart, we can observe that the price is forming a "Triple Bottom" pattern on the 50% Fibonacci retracement level. Our intuition tells us that after some consolidations, an impulsive move should take place, and there is a high possibility for the price to keep rising and reach the zone of the Higher High illustrated on the graph. 4. Open Target Lastly, there is a group of traders that prefers having an open Target Profit and letting their trades run for weeks or even months. This tactic is commonly used by position traders, where they set a Stop Loss, but leave their Target Profit open, making it possible for them to hold a transaction open for long periods of time.
BITSTAMP:BTCUSDEducation
by Investroy
20
EUR/USD: step-by-step breakdown, multiple targets. Where next?As it can be clearly illustrated from the graph, the price is ranging in a sideways moving rectangular box. After some consolidations, we would normally expect some serious impulsive moves. Zooming out and analysing the higher timeframe charts (Daily, Weekly, Monthly), we can observe that the price is rejecting and forming a top at the previous Lower Low levels. The price attempted to break the upper boundary of the box on the 30th of May, but failed to do so and dropped back in the range. The technical perspective and the fundamental one (strength of the USD) give us enough confidence that the price is gonna continue dropping all the way down. We have set three Target Profit areas and will be looking to secure some profits along the way. Happy trading, everyone!
Short
by Investroy
49
BTC/USD: detailed chart breakdown. Correction before drop?Looking at the DAILY timeframe chart, we can see some interesting things going on. Let's break it down to small steps, analyse each move, and see what the near future holds for BITCOIN. After having left a huge wick to the downside and rejected the crucial area of support that can be illustrated on the WEEKLY timeframe graph, the price has been consolidating in a rectangular box for quite a while. We all know that after consolidations, an impulsive move takes place. But how can we predict the direction of that impulsive move that is cooking up? Will it be bullish or bearish? On the 5th of May, a juicy bearish candle was able to break the lower barrier of the ascending channel and push the price all the way down till $25.5k. As textbooks state: after an impulsive move, a correctional move must take place. This gives us enough confidence that the price will break the upper boundary of the rectangular range and reach the zone of previous support later turned resistance indicated on the graph. To add another confluence, we have used the Fibonacci retracement tool on the Weekly timeframe chart, and have identified that the 50% Fibonacci retracement level perfectly lines up with the zone that we are targeting. After the price reaches the predetermined level, we will most likely be looking for short positions, as our bias remains bearish so far.
BITSTAMP:BTCUSDLong
by Investroy
23
GBP/USD: British Sandwich is served for 120+ pips!Sometimes the market isn't really moving up or down, it just goes sideways with relatively small oscillations. If we draw 2 parallel lines for support and resistance, it would resemble a beautiful British breakfast sandwich. So how do we feast on this delicious meal? For us, personally, this type of trades aren't really worth entering; however, there are a lot of intra-day traders who would appreciate this 120+ pips opportunity. Entering at the top of the range would this chance!
Short
by Investroy
11
How to remain consistent while trading the financial marketsToday is a big day for us, as two years ago, on the 6th of June in 2020, we launched our company in attempts to be a valuable contributor to the trading industry and help all types of traders: beginners, advanced traders, those who are lost in the journey and so on. However, our personal trading experience goes way back, as we have been trading for more than five years. Throughout this long and interesting journey, we have had many ups and downs. After all, nothing in life is easy, and you have to overcome some obstacles in order to become consistent in what you are doing. Reaching the doors of consistency is the main aim of every beginning and practising trader. Although many individuals may think of consistency as an upward-sloping straight line, years of practice and experience show us that it is rather an ascending channel. Being consistent does not necessarily signify that every trading day/week/month must be a winning one. You will always have losing streaks, unsuccessful trades and so forth. Instead, it indicates that by having a working trading strategy and obeying it, you are gonna be profitable in the long run. Below, we have listed and scrutinized some of the rules that you can implement in your trading that can give you a hand in becoming and remaining consistent: 1. Have a clearly identified trading plan and stick to it This may seem like a pretty basic rule, but believe me, most people never go past this pretty fundamental stage. It is really straightforward and crucial that you need to have a backtested trading strategy, and it could be anything you feel comfortable with. Whether you like to open positions once two Exponential Moving Averages cross each other, or once specific patterns are formed and the price is ready to move according to your bias and so forth. 2. Stop changing your trading strategy every time you encounter losses and feel frustrated Trading is a game of numbers. Yes, you will experience many losing days. Yes, you will feel frustrated and angry to the stage that you might smash the screen of your computer. After all, emotions and psychology play a huge role in trading. Believe me, changing your strategy every week and trying to do something new will never be an option in this case. I see many people make this mistake and get perplexed on why they are not profitable yet. The right thing to do is to stick to one single trading plan and ride along till the end. At the end, if you are risk tolerant and patient, you will always be profitable in the long run. 3. Manage your risk This can’t be said enough. I see people trade the markets like a casino in attempts to be profitable and successful in the long run. Just because you think the setup is perfect, or that you have seen your favourite author’s technical analysis nicely align with yours, you should not be risking big portions of your account on a single position. You should have a well-defined risk management plan. Whether it is risking 1% on all positions, or risking 5% per position on Friday afternoons in order to drink lots of champagne on the weekends. Bottom line: whatever you do, do it with a plan and keep things consistent. Personally, we have always been risking 1-2% per single position, as this is something we are comfortable with. If you feel like you are not mentally ready to trade a live account, you can start even smaller (0.5% per trade) and then gradually go bigger. 4. Do not overtrade and learn to stay off the markets when necessary Many people think that opening more trades will generate them more profits. However, less is always more, and quality will always be over quantity. Depending on what type of a trader you are and what your trading strategy looks like, there should be an average number of trades that you enter every day/week. If you are a swing traders that tries capturing nice long-term waves, 3-5 trades per week would most likely be more than enough. If you are a scalper that loves sitting in front of the charts for hours, your strategy would probably consist of entering 15-20 short-term positions per day. Long story short, have a predetermined range and do not go off the barriers of it. The above stated points are some of the tips and strategies that could help you in remaining consistent in the markets. They may seem pretty simple, but remember that beauty lies within simplicity. There is no need to make things more complicated when you can simply stick to basic principles and succeed in this industry. Have a great trading week, family! Investroy
BITSTAMP:BTCUSDEducation
by Investroy
17
WHAT CAN WE EXPECT FROM XAU/USD BASED ON NFP COMEOUTS?Happy Friday, TradingView community! You've made it through another successful week of trading (hopefully); however, we're not done yet. In an hour and a half from the time of writing this post, we're having the NFP data released for US economy as it is the first Friday of the month. Non-farm payrolls give us an insight into the change in Average Hourly Earning, Employment change and subsequent Unemployment rate in the United States. As you might guess, this would be quite an important news release for any world economy. Overall, the projections for this month are quite conservative. Thus, most people expect the more likely scenario of the "Actual" NFP data to be better than the initial forecast. This would be the positive reading for USD and all the pairs that have USD as a first currency. In this case, for XAUUSD we have a drop till 1830s with a further retest and bounce all the way to 1790. However, we also made sure to include Scenario #2 for the case of "Actual" being lower than the "Forecast" (less likely). It is pretty self-explanatory, yet not as likely as the previous scenario. Either way, we're looking to clarify some direction for the next week and make some money along the way :)
OANDA:XAUUSDShort
by Investroy
8
USD/CHF: the most simple setup you will see today Sometimes, you do not even need fancy lines, zones, and indicators to put out an amazing chart setup. When you have enough experience and practice, it is really easy to take a quick glimpse at a graph and understand what is going on. For instance, looking at the DAILY timeframe graph of USD/CHF, it can be inferred that the sentiment of the market is bullish and that the price is forming a double bottom on the 0.618 Fibonacci retracement level. These two confluences are enough for us to zoom into lower timeframes and look for possible BUY entries once enough confirmations are provided.
Long
by Investroy
13
EUR/JPY: ROCKY CLIMB IS AHEADAt the time of us publishing this post the price is fluctuating around 138.6-7 level. What can we expect from this pair? Well, as of right now, we're moving towards the big psychological and technical resistance level of 140. Round numbers are usually tough to overcome as we can see from previous peak, but not impossible. If EJ manages that push, we can buy the retest from 140 level and further up. Entering the trade right now is not advisable, simply due to the fact that we don't have a strong support below us. The one at 138 is the closest line to resemble a support zone, however, in reality if that was put to the test it would crumble like Amber Heard's accusations. Furthermore, if we drop to 136.5-137 the sentiment would be completely shifted and we'll have to adjust our planning.
Long
by Investroy
4
ETHEREUM (ETH/USD): medium-term growth pending? As it can be inferred from the graphical representation, the price is currently sitting on a massive zone of support that nicely aligns with the lower boundary of the formed wedge. Although our overall bias remains bearish for ETH/USD, we are expecting for a middle-term correctional move to happen before we can go short again. We are setting our initial target at the $2500 zone of previous support later turned resistance. Happy trading, everyone!
BITSTAMP:ETHUSDLong
by Investroy
17
GBP/USD: time to jump off the cliffAs it can be interpreted from the graphical illustration, the price has been unable to break above the 1.265 zone of crucial support. Yesterday, by printing a massive bearish candle, the lower boundary of the ascending channel that is pictured on the chart was penetrated. Monitoring the price action, we can observe that currently the price is trying to complete a mild correctional move of the impulsive leg that was printed yesterday. After the correctional phase is done with, we are gonna look forward to going short and aiming for the zone of support shown on the chart. 1.25500 area of supply is the zone that we are eyeing for potential short positions.
Short
by Investroy
5
XAU/USD: THE GIANT IS TRIPPINGWith USD gaining slight strength today, gold has started temporary minor downfall. Where are we heading with this trend? As of right now, the zone indicated as "Support #1" is the likeliest point for TP1. Depending on what we have on Friday for non-farm employment change, this tendency might further be continued towards "Support #2" which will serve as our final destination for this trade. If the price goes to the levels above 1870 this downtrend would obviously lose its validity as we would form a Higher High. Either way, we're here to keep you updated!
OANDA:XAUUSDShort
by Investroy
12