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Trend Key Points Guide And Best PracticesTrend Key Points indicator is a side tool for traders to specify the pivot points and key levels in trends. You can use this indicator in different ways, but I will tell you my own way. I got excellent results by going this way; I hope it will be useful for you as well. Each trend has its high and low key points that are important in the next prices. Sometimes it’s hard to find out the points with a naked eye, this indicator marks these points and draws support and resistance lines from previous critical pivot points . The indicator draws the last two support and resistances of the price by default but you can adjust it in the options. The best practice would be to include the levels drawn in the upper time frames in small timeframes. I’ll explain it with an example. Let’s say I’m trading in the 4h timeframe. Starting from the above timeframe, I specify the key levels to the target timeframe I mean 4h. Assuming that the monthly levels are important in weekly, daily, and 4h timeframes. The weekly levels are important in daily and 4h timeframes and the daily levels are important in 4h timeframe. Notice that I don't just settle for the levels drawn by the indicator, and I draw the flat and oblique trends I see myself. If the key levels do not exist or are far away from the current price in the above timeframes you can rely on an important key point near or a level you think it's important. (w1 and w2 level drawn by myself from a key point) If the level of higher timeframe overlapped the lower one, the level gains more importance. After drawing multi-timeframe levels and trend lines, I’m going back to the 4h timeframe and I am looking forward to important price movements to be made at the drawn levels. Which moves are important to me? - If a new pivot high or a new pivot low appeared in the key levels or important trendline, I expect a return from there. - If a new pivot high or a new pivot low appeared in the key level or important trendline and the volume confirmed the pivot, I expect a return from there. What I mean by volume confirm is that volume is greater than the volume itself. Volume confirmation means that the volume is bigger than the volume MA (20 in my case). - If a candlestick pattern appears at the key level, the pattern will gain more importance. I use Abnormal Pin Bar and Common Candlestick Patterns Indicators for this. Also, the indicator measures the length of each trend and calculates the average length of recent trends (15 by default). I named it movement step length (MSL). I use this info to predict the possible length of the current unfinished trend . Usually, the length of the next trend is greater than the average length of the last trend specified by the indicator. Knowing this prevents me from exiting the unfinished trend early, which is quite possible when I'm nervous and have suspicions about the position. I think the best part is that you can set an alert for the new key point crossing a price level. so you will not have to wait in front of the chart all day. I am open to any improvement. If you have an idea or a suggestion, don't forget to leave a comment. Any feedback will be appreciated 😊
Education
by bhnmzm
2
Weekly Outlook! 7/6 - 7/9Check out what stocks we are watching for the coming week! As well as a recap of last week's video! NYSE:ABBV We are looking for a breakout of it's current pennant pattern over the $115.60 area. We could see a return back to all time highs here NASDAQ:AMZN We are looking for a breakout of recent highs of $3525 for a re-test of all time highs, and ultimately a breakout of all time highs over $3554. NASDAQ:NFLX We are watching for a break of trend resistance over the $539 level for a gap fill up to $546 NYSE:SHOP We are watching this to break out of it's current bullflag pattern over $1500 for another move higher.
NYSE:SHOPLong
by ThirtyninethParallelInvestment
1
Weekly Outlook! 6/28 - 7/2Check out what stocks we are watching for the coming week! As well as a recap of last week's video! NASDAQ:BYND BYND we are looking for a breakout of consolidation that we've been seeing over the 200sma. Confirmation level is over $152 but can take anything with good strength over $149 NYSE:MA Looking for a nice breakout over the $380 level as we saw a nice long term trend support bounce last week! NYSE:UBER Uber has been consolidating over the 200sma over the past few weeks. We finally look ready to take another move up with a breakout over $52 NYSE:DIS DIS looks to be breaking trend resistance. This is a play we entered last week. We'll see a new short term uptrend confirmed if we can hold the $181 level this week!
Editors' picks
NYSE:UBERLong
by ThirtyninethParallelInvestment
12
🏛CAD_JPY KEY LEVEL ANALYSIS|LONG🚀 🏛CAD_JPY is falling too, and trying to buy it Resembles the attempts to catch a falling knife Thus, I do not encourage trading this setup However, the first key level is almost reached And we might indeed see a pullback from there If not, then the second key level is below at 85.5 Trade with care! And better observe the market Waiting for the broader reversal to begin LONG🚀 ✅Like and subscribe to never miss a new idea!✅
Long
by ProSignalsFx
3
EURUSD analysis | Key levelsYesterday EURUSD failed to break above previous high, showing us that price currently doesn't have enough strength to continue higher. Now we have to see in which direction it will break out. In case of a break above previous highs we would expect price testing the resistance up at 1,2000. But if we see market below previous lows then we would expect price testing the 1,1800 level. Right now, the best option is to wait before entering any new trades on this currency pair. Don't forget that Powell will be holding a speech today!
by ForexTrendline
5
EUR-USD Structure Analysis! Where To Buy? Hello,Traders! EUR-USD seems to be in a free-fall Which to me is an overreaction to the FOMC meeting results And looking at the 1D chart of EUR-USD I see 2 potential reversal levels One,being the low of the previous move down at 1.171 And the second one-a massive structure support at 1.161 The first one is newer, the second one has two touch-points Thus both are likely to stop the fall and produce a bullish correction Which I think will be strong and rapid So we are waiting patiently for the pair to reach any of the two levels And then we will be looking for the reversal signs before jumping on the correction bandwagon Buy! Like, comment and subscribe to boost your trading! See other ideas below too!
Long
by TopTradingSignals
9
Easy Trip Planners Ltd - key levelsEasy Trip Planners currently is in correction mode, after seeing a remarkable rally from 161 levels to 454 levels, that's a whopping gain of approx 180% in a very short span of 2months. Now the question is where the stock could take support ? Daily Chart suggests support around 360 levels, and there is also a harmonic pattern formation, which also suggests support around 370 levels, hence, keep an eye on this area, for very short-term trading opportunities. While the weekly chart, suggests support in the zone of 290-270 levels.
NSE:EASEMYTRIP
by manuagarwal21
GBPUSD SHORTTechnical Analysis for GBPUSD on the 4H Timeframe. Mixed feelings for the Cable for the week ahead. As expected, Cable went to retest the 1.41800 area before heading down on Friday to the 1.41000 area. My Personal BIAS on GBPUSD is BEARISH but ONLY after taking out the buy stops resting at the 1.42000 area, before crashing towards the 1.40700 key level. If I will see a rejection from the 1.41700 level, I will consider it as a strong confirmation that the Bearish OB resting at that level is a valid block and I will take a sell. If not, we will wait and take a sell position from a higher level above 1.42000. As a first Take profit, I will look for the 1.40700 level. The second TP I will consider the GAP that needs to be fill at around 1.40000 level. It only depends on the strength of the greenback. It will be an interesting week ahead. Please like, share and subscribe if you find this idea useful. What is your opinion on the CABLE for the week? Remember: THIS IS NOT FINANCIAL ADVICE. THIS IS ONLY A TRADING IDEA. Do your own research. Use proper risk management. Never trade without a Stop loss and open positions accordingly to the size of your trading account.
Short
by MissC_FX