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EGLD, a coin that went under your nose.William Delbert Gann has said: "The future will be a repetition of the past", a quote that is in direct contradiction to the famous repeated phrase "Past performance is no guarantee of future results". Every serious trader has his own mindset and personality. Following the Myers–Briggs Type Indicator a person is either a strong judging character or a strong prospecting one. Both have their advantages and disadvantages. It is obvious Gann was the latter. If we take a look at the breakouts downwards with EGLD, draw a trendline towards the top, flip them 90 degrees, we see that the market is reacting to them. Could it be so simple? It is a direct contradiction to what every seasoned trader would say in crypto."Extremely volatile and unpredictable! Whales have rigged the game! Pump and dump scheme! Everyone is a genius in a bull-market!" It is up for you decide what you believe in. I believe that, the more we know, the more we know what we don't know. But we can make well-informed guesses and see what sticks with our personality and our wallet. EGLD seems to stay here for the long run. I would not be surprised if the price hits 400+ usd in 5 years.
Long
by joowz
8
NAS100, What Goes Up Must Come Down!Nasdaq 100 Weekly/Daily Charts- What goes up must come down! The US100 is operating @ an all time high with the market being in a very strong Uptrend. Fundamentals- The Nasdaq has staged a massive rally over the last few trading sessions in the aftermath of election night. With challenger Joe Biden looking set to claim victory over incumbent Donald Trump, and prospects of a split congress squashing fears of higher corporate taxes, investors have pushed major stock indices notably higher this week. Nasdaq price action surged almost 10% from last Friday’s close while the S&P 500 and Dow both gained about 7% a piece. This coincided with a sharp slide in the US Dollar and breakout in gold prices. Price is currently @Monthly Resistance level (brown zone) which has been respected multiple times and this is where I'll be looking for counter-trend opportunities on the 4HR Chart this week! Link to Weekly Chart;
OANDA:NAS100USDShort
by Deensesay
eLEARN WITH RICOBULL - RSI MOMENTUM INDICATOREPISODE 2 - RSI - Momentum Indicator This is a momentum indicator with a separate scale. There’s a single line scaled from 0 to 100 that identifies if market is overbought and oversold. Readings over 70 indicate an overbought market, and readings below 30 indicate an oversold market. It assists in knowing when to enter the market if the trend is reversing by an uptrend or downtrend. RSI can also be used to confirm trend formations. If RSI breaks above the 50 level, the market is probably going uptrend and if the line is below 50, the market is probably in a downtrend move. Summary When RS is below 30 you can enter the market and maybe your first target will be at the 50RSI waiting to see if it breaks above 50 and keep holding or it will bounce back to 30RSI and keep you waiting. You can decide whether to make those small profits or by entering at 30 and selling at 50 and hold some above 50. If you want to short, You can enter at 70RSI and short at 50RSI if it continues below 50RSI it means market is going downtrend and you can continue with the party. SEE WHAT HAPPENED BETWEEN 3RD JAN AND 8JAN 2020, SEE WHAT HAPPENS WHEN RSI DOESN'T BREAK ABOVE 50 iN A Scenario whereby RSI is above 50 and doesn't reach 70 for you to think of shorting, that's where other indicators are needed to tell you if the market will continue upward or reverse down. Maybe selling a bag at 50 RSI and setting a new target with a Stop limit maybe 48 or 49 may help in that case and gamble.
by RicoBullS
eLEARN ON 4 TYPES OF INDICATORSI was supposed to give some few tips on how to check some market movements through some of indicators which I Also use. Bullish or Bearish indicators are classified depending on what they indicate; They either indicate;Volatility , Momentum, Volume and Trend. I will give an example on each type. Volatility Indictors show price action change in a given time,Tells nothing about direction but how the fast the price will change for you to make profit. Example is Bollinger bands. Momentum indicators show how strong the trend is, with them you can detect when a pullback is going to occur or a reversal. Example is RSI indicator. Volume indicators show how volume is changing with time like the OBV. Trend indicators tell you which direction the market will be moving to like MACD. Mostly are oscillators. I will cover an example on each in 4 episodes. In Trading all indicators have their limitations and one can not depend only on 1 indicator , I will also show you on you can use several indicators combined. EPISODE 1 Bollinger bands - Volatility Indicator. They consist of a simple moving average, and 2 lines plotted at 2 standard deviations on either side of the central moving average line. The outer lines make up the band. Simply, when the band is narrow the market is quiet. When the band is wide the market is loud. Trading when market is trending, Bands try to squeeze to each other and that indicates that Breakout is about to happen either and Uptrend or down trend. If the candles breakout below the bottom band, the move will generally continue in a downtrend. If the candles breakout above the top band, the move will generally continue in an uptrend. An example of Bollinger indicating a breakout. Point to NOte: If the candles breakout above the top band, the move will generally continue in an uptrend If the candles breakout below the bottom band, the move will generally continue in a downtrend. Bullish Bearish When Trading in a ranges when coin is maybe accumulating or distributing, Bollinger bands act as Resistance and support at that particular time. When you want to enter the market, You can always enter at the bottom of the lower band and sell at the top band to avoid a breakout which may happen which could be a down move or uptrend. If you enter for a long at the bottom of the range or short at the top of the range, The price naturally returns to the average as time passes. That’s what Bollinger bands are all about; keep following, next episode is well lined up.
Education
by RicoBullS
AUDCAD LIVE TRADE LONGGood Afternoon Traders👨🏿‍💻 AUDCAD Live Trade Update I believe as a trader, its very important that I show transparency with my trading especially to new traders as we can get caught up on thinking that losing isn't part of this long term game. I've been on a 15 trade win streak for the past 2 weeks until I took this opportunity yesterday at 10AM. AUDCAD H4- Market trending above the 50EMA. Reason For Entry- Market Pullback followed by Engulfing Candle, indication of trend continuation SL- 40 PIPS✅ (0.95140) TP- 40 PIPS✅ (0.95930) TP2- 80 PIPS✅ (0.96310)
Long
by Deensesay
XAUUSD, What Goes Up Must Come Down Gold spiked to All-Time Highs, breaking above ($1920.111) during the early European session, albeit quickly retreated a bit thereafter. There are still high concerns within in the US about the economy which could be grinding to a halt amid the ever-increasing coronavirus cases that continue to grow. News release of the advance US Q2 GDP report on Thursday, which showed that the economy has contracted by a record 32.9% annualized pace. Gold has been sensitive to changes in interest rates alongside reacting to signals sent by the FOMC members about the condition of the U.S. economy. I will now be observing Friday's US economic docket which features the release of Core PCE Price Index, Personal Income/Spending data, Chicago PMI and Revised Michigan Consumer Sentiment. This along with the broader risk sentiment,supply and demand, might produce some meaningful trading opportunities within the market.
OANDA:XAUUSD
by Deensesay
1