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Investroy

EUR/USD: multiple confluences are lining up for a BUY positionAs it can be inferred from the DAILY timeframe chart, the price of EURUSD is trading within the borders of the descending channel illustrated on the graph. The price has been dropping for quite a while. As we know, after an impulsive move, a correctional one is needed. Thus, multiple confirmations are lining up and making us confident in the fact that bullish moves are around the corner. Firstly, looking at the previous DAILY timeframe candlestick pattern, we can observe that a nice pin-bar candle has been printed and been able to reject the lower boundary of the channel. Zooming into lower timeframes, we can witness some consolidations around the local zone. Hence, we are gonna monitor the price action and look forward to entering long positions. Our initial target will be set at the zone of the upper barrier of the descending channel that nicely lines up with the area of the previous support now turned resistance. At the same time, the same zone matches with the 0.618 Fibonacci retracement level. Happy trading, family!
Long
by Investroy
35
GOOD BROKERS VS BAD BROKERSGood time of the day, TradingView community! The reason we decided to cover this topic are the alarming messages we’ve been receiving recently. “I am a representative for XXX, I’ll provide you with a white label brokerage, I instantly give you 50% of the loss of the customer who opened the account”. From the first glance, you can tell that there is something wrong ethically and legally. So how does one protect himself/herself and his/her capital from this danger. Simple answer: Education. Scammy signal providers and fake mentors are much easier to identify. When it comes to brokers some might do a really good job covering up their true intent. Without further due, let’s get the broker guide started. Oh, well first of all, the word broker in this context is actually wrong to use. The so called “forex brokers” aren’t really brokers. In fact, even most of them don’t classify themselves as such. However, in order not to confuse you any further let’s keep it that way for this text. We can break down all the forex brokers into Dealing Desk and No Dealing Desk. Dealing Desk can be classified as Market Makers and No Dealing Desk can be further broken down to “Straight-Through Processing” (STP) brokers, “Electronic Communication Network” and “Straight-Through Processing” (ECN/STP) brokers, “Direct Market Access” and “Straight-Through Processing” (DMA/STP) brokers. To be honest, you don’t really need to know all that. Most you should know that there are 1) Good brokers looking for sustainable long-term collaboration 2) Bad brokers, not executing your trades and hoping for you to lose, so they can claim the collateral. You may say: “Oh, Investroy, aren’t brokers waiting for us to lose anyway, so they can make profits? They automatically open a position equal and opposite to ours”. Well, that’s true. However, there is a big difference when it’s natural (there are more losing traders than winning ones) and when the broker is using mostly illegal ways to make you lose. This can be noticed when a broker has a discrepancy of more than 20 pips with the most trustworthy price outlets, suddenly increasing insanely large spreads and many other small tricks. This all may want you think: “Oh, man, everybody wants to steal my money”. Not really, there are some honorable brokers out there with good reputation. Moreover, above in the chart we’re going to point out the main differentiations.
BITSTAMP:BTCUSDEducation
by Investroy
38
USD/CAD: bias change. Where to buy from? Double Fibonacci magicAs you may have noticed from the publication we made on Monday, our initial bias on this pair was a long-term sell. However, after noticing the recent price action, our bias has shifted by 360 degrees. Looking at the 8H timeframe chart, we can notice that the price has formed an area of support at the 1.286-1.287 levels. At the same time, if we use the Fibonacci retracement tool, we can notice that the 0.382 level perfectly aligns with this freshly formed support. At the moment, the price is trading around the crucial zone of resistance identified on the graph. After an impulsive move, a correctional one is definitely needed. Thus, we are monitoring the price action and patiently waiting for the price to re-test the previous level of resistance now turned support that lines up with 50% Fibonacci retracement level before going long. As of right now, we do not have any clear Take Profit targets in mind, so we will keep it open and constantly monitor the price action.
Long
by Investroy
34
USD/JPY: multiple failed attempts to continue its bullish movesFirstly, if we take a look at the Weekly timeframe chart, we can observe that the recent few candles have resulted in leaving long wicks to the upside and failing to print impulsive moves and continue bullish movements. Zooming into lower timeframes, we can clearly see that the price has made some attempts to break above 136.7 zone of resistance and form new Highs, but has failed multiple times. This is another indicator of the fact that the bulls are kind of weak at the moment and some correctional moves are needed. Tracking the current price action, we can observe that the price is trading within the borders of a narrowing disjoint channel. Based on the factors mentioned above, we are pretty confident that the price is gonna continue dropping for the time being. We are eyeing the 131.500 area of the recent Higher Low as our initial target.
Short
by Investroy
19
How to spot and avoid Stop Loss hunting: a complete guide Stop Loss hunting happens every trading day, and it's not something you would want to let fly under the radar. We have carefully orchestrated some examples on the graph to give a clear picture of what this phenomenon really is, and listed some tips on how to avoid getting into this mouse trap. In basic terms, Stop Loss hunting is the strategy of the price action spiking above/below key levels to enter the pool of Stop Loss orders and take the masses out of their positions before moving the price in the destined direction. Looking at the first example, we can observe that a nice double top pattern has been formed. This is one of the clear indicators that the price might potentially drop after failing to rise above and forming a new top. Thus, a trader would most likely go short and set his Stop Loss a few pips above the freshly formed area of resistance. What happens next is obvious - a trader gets liquidated. Why? because him and tens of thousands of other market participants had set their Stop Losses at a very obvious key level - above the local zone of supply. After successfully spiking up and grabbing some liquidity, the price peacefully continues its bearish movements in the predetermined direction. The second example is a similar one as well. "What a beautiful ranging market. Let's buy at support and sell at resistance." Only if it was that easy... What happens next, the price spikes below the lower boundary of the sideways-moving range and grabs liquidity before moving in the upside direction. Stop Loss hunting scenarios will always happen, and to be honest, we cannot really avoid them all. However, there are some tips that we can follow in order to evade these traps. Firstly, you should never rush into entering positions. Eventually, the price will come to your levels and develop into some patterns (Double Top, Head&Shoulders etc.) before starting its big moves. With that being said, no FOMO either. There will always be fish in the sea, just like there will always be opportunities in the market. Be patient, cold-blooded, and wait for your time. Do not set a tight Stop Loss, because you will most likely get taken out immediately. Either set a wide one so you can escape hunting in case the price starts spiking up and down, or wait for cases of a fake breakout a.k.a liquidation before entering a position. Last tip is a pretty smart one: set your entry orders at levels where masses would put obvious Stop Loss orders. Then, you will notice how many times the price goes in that direction. Hope you enjoyed this Educational Post, dear TradingView community members! If you have any suggestions or recommendations for the next educational idea, feel free to let us know in the comment section below.
BITSTAMP:BTCUSDEducation
by Investroy
50
USC/CAD: formidable price action. Time to drop?As it can be inferred from the DAILY timeframe chart, the price has been ranging within the borders of the ascending channel for quite a while now. Recently, the price has been able to form a nice top and reject the upper boundary of the channel. Looking at couple of previous candle closures, we can identify that long wicks to the upside have nicely rejected the local area of resistance. From here, we are eyeing to enter short positions and aim for the zone illustrated on the graph.
Short
by Investroy
42
USD/CHF: detailed analysis. Time to pump?As it can be illustrated from the graphical representation, a massive sideways-moving rectangular box has been formed and the price is currently at the lower boundary of it. Zooming in, we can notice that the price has broken out of the descending channel plotted on the chart and re-tested the local structure. The current 8H candle has left a long tail to the downside and is another confluence adding up to the BUY scenario. From here on, we are eyeing long positions and aiming for two targets: the 0.618 Fibonacci retracement level shown on the graph as the first target, and the upper boundary of the box as the second. Happy July, family! Hope you can make a good use of the idea.
Long
by Investroy
17
BITCOIN (BTC/USD): short-term perspective. What is the next moveUndoubtedly, the overall sentiment of Bitcoin remains bearish. Taking a look at the recent price movements, we can clearly observe that the price is sitting on a crucial area of support. More to it, the price is trading within the borders of the descending channel illustrated on the graph, and impulsive bullish candles have been able to successfully reject the upper boundary of it. The recent bearish pressure gives us enough confidence to go short from here. The area of the recent low plotted on the graph is our initial target. Happy trading, family!
BITSTAMP:BTCUSDShort
by Investroy
32
GBP/USD: the most simple idea you will see todayAs it can be inferred from the 2H timeframe chart, the price has been consolidating within the borders of a sideways-moving range for quite a while. From the recent price movement, we can observe that the bearish rally that has happened recently gives enough confidence that the price may keep pushing even lower. We are eyeing the zone of support (recent low) indicated on the chart and looking forward to entering short positions.
Short
by Investroy
12
EUR/USD: Accumulation, Manipulation, DistributionMost of you are probably familiar with the Accumulation&Distribution phase that the price goes through in the markets. It's no wonder that the price movement repeats itself historically looking. Closely observing the H4 timeframe chart of EUR/USD, we can clearly identify that the price is currently ranging within the borders of the illustrated sideways-moving range. In other terms, we can call it a consolidation phase or an accumulation phase. After an accumulation/consolidation phase, the distribution phase must be in motion. If we take a look at the historical price movement that took place a few weeks ago, we can see that after ranging between the barriers of the rectangular box for a while and spiking above the resistance part to grab liquidity and take out early entrants, impulsive moves had resumed and drove the price all the way down. We have a very similar situation at the moment. The price is ranging, spikes above the upper barrier of the box have been able to grab some liquidity, and now we are patiently waiting for the distribution phase to kick in. Of course, everything has its time, so we are gonna be completely patient and keep speculating the situation. Happy new trading week, TradingView family!
Short
by Investroy
27
USD/CHF: will head to the Moon soon?As it can be inferred from the recent price movements, the crucial zone of support identified on the chart has been nicely rejected. Elaborating further, we can notice that the price has formed a descending channel and the price is at the lower boundary of it. We are expecting for the price to continue its bullish movements from here on and reach the important area of resistance plotted on the graph step-by-step. The journey might be a bit long and bumpy, but we are here for it! Remember that patience is one of the keys to the doors of successful trading.
Long
by Investroy
20
BITCOIN (BTC/USD): is $25k too much to dream about?While the long-term sentiment of BITCOIN remains bearish both technically and fundamentally, some corrections are needed before further bearish moves continue. Taking a close look at the current price action, it can be inferred that a decent Head&Shoulders pattern has been formed. From here, we strongly believe that the price will keep rising in order to complete the correctional move that is lacking. We are eyeing the area of the previous Lower Low that is plotted on the graph that nicely lines up with the in-between zone of the 0.5 and 0.618 Fibonacci retracement levels. While it is relatively difficult to predict the next move in these situations, this is the scenario that we believe will happen. Feel free to drop your ideas in the comment section below! Happy trading to everyone!
BITSTAMP:BTCUSDLong
by Investroy
18
USD/CHF: massive bullish push to the upside inboundAfter the massive bearish rally that occurred last week, the price is trying to recover, form a decent bottom, and continue its bullish movements. We can clearly observe that the price has been able to spike below the sideways-moving rectangular box illustrated on the chart and grab some liquidity before getting back within the borders of it. What is more, it could be that the price was just visiting the crucial zone of support portrayed on the graph. Either way, a massive bullish candle has been able to bounce off the local area of demand, giving us enough confirmations to go long and aim for the 1.004 resistance level.
Long
by Investroy
11
USD/CAD: GREAT SMOKY MOUNTAINS ARE FORMING Going to USD/CAD, we can clearly see that we've touched the upper boundary of a multi-month channel yet once again. Moreover, we can clearly see that we have fully developed "Left Shoulder" and "Head" for H&S pattern. All we need for completion of this mountain system is a "Right Shoulder". If/when it's properly formed it's time to execute our short position, all the way to 1.255 which is also a major support zone in addition to being the lower limit of our channel.
Short
by Investroy
27
Questions to ask yourself before entering a tradeThere is a set of questions to ask yourself before opening a transaction and we will talk about some of the common ones. 1) Are my entry criteria met? Undoubtedly, everyone has his own style of trading. Entry and exit strategies should be included in each and every trading plan there is. Only if the entry criterium is met, should we enter a position on any security. No FOMO, if our entry criteria have not been met, we sit on our hands and patiently wait. 2) Am I being risk tolerant? Am I risking my usual 1-2% per position or I am too confident in this setup and would rather go all in? If you see yourself risking more than you usually do on a single trade, pause for a minute and thoroughly reflect. Yes, you can have some winners while risking a big portion of your total capital on a position, but does that not make you a gambler? Always remember that it is a marathon and not a sprint. 3) Have I set a Stop Loss? Many people will say that it is not mandatory to set an SL if you are a position trader. Let me tell you this: a trade without a Stop Loss is like jumping off a cliff without a parachute. No matter how confident you are in your analytical skills, you can never be 100% sure that a trade will play out thoroughly according to your technical setup. Use a Stop Loss and carry on! While there are many more questions that you may ask yourself before executing a position, we have addressed some popular ones. Of course, it solely depends on your trading plan, but the aforementioned questions can be implemented in every strategy. Hope you enjoyed the read and thank you!
BITSTAMP:BTCUSDEducation
by Investroy
29
GOLD (XAU/USD): amazing scenario. What's the next move?As it can be clearly observed from the 4H timeframe graph, the price has printed a massive bullish candle and pushed above the previous area of resistance which now acts as a support. Looking at the previous few candles, we can see how nicely the price has formed some wicks and rejected the local key zone that lines up with 50% Fibonacci retracement level. This signifies that the price is forming a bottom and getting ready to continue its bullish movements. We will be closely monitoring the price action and looking forward to opening BUY positions and aiming for the area of resistance plotted on the chart.
OANDA:XAUUSDLong
by Investroy
7
USD/JPY: a correction is needed before further bullish movesAs it can be inferred from higher timeframe graphics, the price has completed the correctional move and rejected the 131.3 area of previous resistance later turned to support that lines up with 50% Fibonacci retracement level. Looking at the current on lower timeframes, it can be observed that the price has lost some of its bullish power and it needs some corrections before continuing its push to the upside. We are eyeing the zone of support illustrated on the chart that aligns with 0.5 Fibonacci retracement level. From there, we will be looking forward to entering long positions and aiming for the area of resistance plotted on the graph. However, as our long-term sentiment on this security remains bullish, we are pretty positive that the price will keep rising even beyond our initial target. Happy trading, everyone!
Long
by Investroy
3
Harmonic Symbiosis of Technicals and Fundamentals The eyes are the mirror of the soul and reflect everything that seems to be hidden. Is the same true about charts? Absolutely. After successful week on EUR/USD, we've been getting a lot of questions on how we "read the charts". Well, buckle up :) There are people who trade purely on fundamentals or technicals. It's been an ongoing battle for quite a while. This whole situations reminds me of two armies that are about to collide holding flags. One side has a duck, the other has the inverted version of the same flag that looks like a rabbit. The reality about markets is.. one doesn't go without another. Moreover, it is all imprinted in what we perceive as a chart. If will for June section of the EUR/USD chart, we can note that the major news release are coincidental with the larger trends; however, they're expected through technicals as well. Let's consider the range in the chart above, as we were approaching the upper side, some important news were released keeping it from breaking upwards. When the range slightly broke the lower boundary and wiped off some long positions, we saw a positive CPI m/m data released. This goes all the way around as well, when the price reached 1.04 European Central Bank made an effort to maintain the price at that level and recover, even though there were no actual economical drivers for that. The retailers, obviously, supported this process as they saw a quite strong and familiar patter of "triple bottom". This is not some theory or conspiracies, this is just how economy works through oscillations. Top successful traders call it "feeling the market" and it mostly comes from experience, but once you see it, you can't see it. I hope this helps and you have a whole weekend ahead to let it sink in :) All the best to the entire TradingView community!
Education
by Investroy
16
GOLD (XAU/USD): detailed illustration. Where are we headed?As it can be inferred from the 4H timeframe graphic, the price has formed a Head&Shoulders reversal pattern on an important zone of support. At the moment, the price is at the doors of a previous zone of support now turned resistance. Normally, you would want to open short positions from here, due to the fact that the price is retesting the previous Lower Low. However, with the amount of bullish power witnessed recently, we are positive that the price will break the local key zone and keep pumping to the upside. Our initial target will be set at $1874 area of resistance. Happy trading, everyone!
OANDA:XAUUSDLong
by Investroy
11
EUR/USD: detailed chart breakdown. What is the next step?After consolidating for quite a while, the price had finally managed to continue its bearish impulsive movements and drop to the downside. As per usual, after a strong impulsive move, a correctional move is needed. Thus, looking at the 4H timeframe chart, we can clearly observe that the price is consolidating and forming a possible bottom from where it might keep potentially rising to the upside. A double bottom formation has already been formed, which indicates that the price is reversing. More to it, looking at the current 4H candle, we can notice that this Double Bottom pattern can become a Triple Bottom or even more. Well, as long as a nice bottom is formed, we are good to go. As for the target zone, we are eyeing the area of the lower boundary of the sideways moving rectangular box that lines up with 0.618 Fibonacci retracement level. Happy trading, family!
Long
by Investroy
20
EUR/GBP: short-selling is in progress. Possible targets?From the higher timeframe charts, it can be clearly identified that the overall sentiment of EURGBP is bullish. However, zooming into lower timeframes, we can observe that a massive ascending channel has been formed and the price has been able to nicely reject the upper barrier of it and keep dropping. For the moment, we have two zones from where the price might potentially reverse. The first target is the upper boundary of the consolidation box identified on the graph, which is a previous zone of resistance now turned support. The second possible target is the lower boundary of the formed ascending channel in case the price manages to drop below the first target zone.
Short
by Investroy
17