Trade Like a Hedge FundsLearn how to trade Stocks, Forex, Crypto Currencies just same as Hedgefunds or Money managers. You can get the Indicator shown from either my profit under Scripts or from my web button under this post.
Learntotrade
LEARN TO TRADE THE FOREX WITH OPTIONSForex Trading Alternative Using Options to trade the Forex Market.
Hey traders here is in my opinion the best way to build up a small forex account. By trading options on the forex. This strategy will give you staying power in the forex market. It is a great alternative to trading on margin accounts exposing yourself to unlimited risk with a traditional forex broker.
Enjoy!
Trade Well,
Clifford
Japanese candlesticks are better than any indicator
Although indicators can help in the process of constant trading, nothing compares to Japanese candlesticks , which in themselves show who is stronger in the market, buyers or sellers.
Using technical analysis in your favor is crucial for understanding what may happen next in the market. But... Japanese candlesticks often give the clearest picture of them all.
Learn to read what Japanese candles show. Understanding who is currently dominating the market can significantly help you in acquiring additional mergers that are necessary not only to confirm your pattern but also to determine in advance what the price can do next.
Financial markets are a continuous open battlefield of buyers and sellers. Look for a strong side to be with the dominant side in the market.
❤️ Please, support our work with like & comment! ❤️
YOUR SUCCESS IN TRADING | Expectations VS Reality 💰🤔☠️
Hey traders,
Being a full-time trader & running a coaching program for the last three years, I met hundreds of struggling traders from different parts of the globe.
Guess why the majority of them could not make it? What was the main reason for their bad luck?
It wasn't their trading strategy, nor their technical analysis. The source of their failure was the expectations.
Trying different trading strategies, following the signals of different signal providers, these traders expected quick gains and exponential account growth. They were actually in a state of a constant search of a holy grail, of a magic wand that will open Pandora's box to them.
Just a single losing trade made them skeptical while the first losing streak made them drop the strategy and return back to the search.
They keep spending thousands of dollars on trading strategies promising them close to 100% win rate.
There is this common mantra, the stereotype about a pro trader:
a guy with 4 screens making a quick buck on each and every market rally, driving Lambo, and living in a mansion.
Unfortunately, the reality is different.
Ahead you will encounter loneliness, losses, pain, and disapproval.
The road to success in this game is long and dangerous.
Get ready to see the skepticism in the eyes of your relatives and friends. Many years and tons of money must be spent in order to make it.
But even mastering the system, becoming a consistently profitable trader you will not constantly beat the market. Your wins will just slightly outperform your losses giving you the means for living.
If you are ready for that if you are courageous enough to start and to proceed no matter what, you are already one step ahead of the majority. Be prepared to work hard and practice much, set a correct goal, and sacrifice your presence for the sake of an independent and prosperous future.
Are you ready?
❤️Please, support this post with a like and comment!❤️
EURAUD - A current trade - DO NOT ENTEREURAUD here. Just showing you another example of my trading.
This position I am currently in and held over the weekend. I closed out most of my position on Friday evening and left a little partial to run to see if it reaches the final target. As you can see, my entry on this was a little premature off the 50% fib where as looking back I should have waited for price to reach the 61.80% as there is more confluence from previous price action.
Nevertheless the trade has gone to plan and now we just wait and see how it continues to play out!
Your Strength Meter For Candlestick | Best Momentum Indicator 🕯
Hey traders,
There are multiple different ways to measure the strength of the market reversal from a key level:
✔️some traders apply volumes and look for its sudden spike as a confirmation,
✔️some traders rely on some indicators and look for a particular trigger there as the signal,
✔️some traders, like me, follow the candlesticks and make their judgments based on the candle's strength.
In this article, I prepared for you a candlestick strength meter that will help you to accurately spot the reversal clues.
❗️Remember about the important precondition:
that candlestick meter is reliable being applied ONLY on key levels.
Trading that outside key levels is not recommendable.
📈The initial touch of a key level is very telling:
after a sharp bullish/bearish rally to key resistance/support the reaction of the price on that can indicate you the strength of the identified level.
There are three main classifications of the reversal candle momentum:
*by reversal candle we mean the first bullish candle on key support or the first bearish candle on key resistance.
1️⃣The momentum will be considered to be low in case if the reversal candle will close within the range of the previous candle.
It indicates the weakness of bulls buying from support / bears selling from resistance.
You should patiently WAIT for some other signal before you open the trade.
2️⃣The momentum will be considered to be medium in case if the reversal candle will engulf the range of the previous candle.
It shows quite a strong initial reaction being sufficient to open the trade ONLY in a strict combination with some other signal.
3️⃣The momentum will be considered to be high in case if the reversal candle engulfs the range of the last two candles (two bearish or two bullish).
By itself, it is considered to be a strong reversal signal.
The trading position can be opened just based on such a candle.
Among the dozens of different candlestick pattern formations, I believe that momentum candles are one of the most reliable in spotting the market reversal.
Learn to spot these candles and you will be surprised how accurate they are.
What candlestick pattern formations do you want to learn in the next post?🤓
❤️Please, support my work with like and comment!❤️
Without this, you will not become a profitable trader
Yes, this is risk management.
Without proper risk management, your trading strategy based on levels, indicators, patterns, etc.will not make any sense.
Any trading strategy should be supported by strict risk management, where the maximum allowable losses per transaction and the risk ratio are observed:the profit is always more than 1/2.
You don't have to be right in every trade. It's just that your profit in successful transactions should be greater than the losses in unprofitable transactions. This correct use of risk management will lead you to success.
____________
The example shows one of the real scenarios of any trading system where the rules of risk management are observed:
Deposit of 10,000$
The risk per transaction is -1% (or -100$)
Total trades:
4 profitable trades = +14%
10 losing trades = -10%
Total: +4% (or + 400$)
Even though only 30% of the total number of profitable transactions, we still have a profitable result.
Learn risk management and become a consistently profitable trader.
❤️ Please, support our work with like & comment! ❤️
8 TRADING HABITS OF SUCCESSFUL TRADERS👩💻👨💻
Hey traders,
Consistently profitable traders have a lot of things in common. Watching how they act and following their ideas & thoughts we can spot a lot of commonalities among them.
In this article, I have collected 8 trading habits that a trader should have to become successful.
1️⃣ - Continuous Learning 📚
The markets are infinitely deep in their nature.
Trading & constant monitoring of the market always unveil new, uncharted elements and things.
With 8 years of day trading, I can't help wondering how many new things I learn each and every day.
With continuous learning you evolve, you become better and it improves your trading performance & results.
2️⃣- Emotional Stability 🙏
The market is a wild beast who always wants to bite us.
And most of the time it manages to do that:
drawdowns, losing streaks...
Those who trade for at least 1 year know how unpredictable and unstable the market is.
A perfectly looking trading setup can easily turn into a big losing trade.
Of course, that is painful, of course with more and more losers, the anxiety will pursue us, the stress will overwhelm us.
Only by remaining stable and calm, you will manage to overcome the negative periods.
Learn to control your emotions, learn to take losses!
3️⃣ - Constant Practice 💪
Pro traders never stop, they always watch the charts, they always monitor the prices, and follow the market.
Trading requires constant TRADING.
Just spending one single week on a vacation without charts, you can not imagine how hard it is to return back.
The trading skills must be constantly maintained.
4️⃣ - Trade Journaling 📝
Pro traders always assess their past performance & results.
They track each and every trading position that they opened.
Both losing trades and winning trades require analysis and observations.
Only by studying the past results the trader can improve his trading performance and evolve. Only by identifying mistakes & peculiar commonalities, the trader learns to lose less than he makes.
5️⃣ - Anticipation of Different Outcomes 👁
Everything can happen in financial markets.
Pro trader always reasons in probabilities.
He knows that 100% chances do not exist.
Accepting the probabilities the trader (even while opening the trade) is always ready for completely different outcomes and accepts each and every move of the market.
6️⃣ - Flexibility & Adaptivity 🕺
The markets are always changing.
If you were trading before COVID crisis, I guess you feel how the reality among us shifted. With fundamental changes in our daily lives, the markets changed as well.
It is hard to say what exactly has altered though, however, we all can feel it.
In order to survive in a constantly changing environment, one should adapt. One should look for ways to be one step ahead.
To beat an evolving market, the traders should constantly polish their trading strategies, drop the things that don't work anymore, and adopt the new, reliable ones.
That is the only way to stay afloat.
7️⃣ - Selection of Right Markets 📈
The trader always knows what to trade and he always has a reason.
He admits that some financial instruments are appropriate for his trading style while some are completely not.
Pro trader does not wander around aimlessly from one market to another. He has a plan to follow and rules to rely on.
8️⃣ - Realistic Expectations ⭐️
Many newbie traders drop trading just because of wrong expectations.
The desire to get rich quick, to catch 20/1 risk to reward trades without substantial losses is playing a dirty trick with them.
The true trader is not greedy, in contrast, he is humble and the only thing that he wants is simply to win more than he loses and make that amount sufficient enough to have a good living.
Adapting these 8 habits, you will see dramatic improvements in your trading.
And even though most of them require a substantial effort and many years of practicing, trust me, it is worth it and it will help you in your daily life as well.
Would you add some other habits to this list?🤓
Let me know in a comment section.
❤️Please, support this idea with a like and share your feedback in a comment section!❤️
BTC/USDBTC/USDT
-As long we are Holding on to this current level of BTCUSDT the consolidation are still holding strong
-At the recent price correction of 60k in April) BTCUSDT has continue to trade extremely high.
-Despite the short down retest the market has been able to accumulate consistently with maximum support.
-If these continue with 2% increment 2 hr chart we can see Bull for an up trend movement.
Support levels : 47k - 49k
Resistance : 51k - 54k - 60k
XRP/USD
Still on a strong potential for day trades.
#AUDUSD Long Term Trading IdeaIf the idea is respected I will scalp the set-up, looking to strong sell at the demand zone.
What is your input?
#DocumentingYourTradingIsARoadmapToSuccess #LearningForex #LearningToTrade
WHY YOU SHOULD PAPERTRADE FOREX DEMO ACCOUNT BEFORE REAL $$$$$Hey Traders so today I wanted to take a step back and show beginners how to papertrade the Forex Market. Although some believe papertrading is not the same as real trading. I believe if you take the papertrading account seriously you will gain many benefits. You will get experience, learn discipline, gain confidence, and test your results to see if you are truly ready to open real account.
Enjoy!
Happy Trades,
Clifford
GBPAUD AnalysisGBPAUD sell limit to catch the retracement of this pair. The daily closed in an agressive bearish, we'll wait for retracement to enter a short witth the continuing besrish trend.
History of ForexHistory of Forex
We have come a long way from the previously practiced barter system to the modern-day system of trading currency. Following is a brief summary of the evolution of currency and how it gave rise to Forex Trading.
Here are the main stages that are illustrated on the chart:
1️⃣The Ancient system of Trading - Trading with Gold
As early as 6th century BC , the first gold coins were produced, and they acted as a currency because they had critical characteristics like portability, durability, divisibility, uniformity, limited supply and acceptability.
2️⃣Bank Notes Originated - Deposited Gold in banks in exchange for banknotes
3️⃣Role of Geography - Various banks of different regions printed different currencies
Gold Standard - Currency pegged to gold
In the 1800s countries adopted the gold standard. The gold standard guaranteed that the government would redeem any amount of paper money for its value in gold . This worked fine until World War I where European countries had to suspend the gold standard to print more money to pay for the war.
4️⃣Bretton Woods System - Currency pegged to USD
The first major transformation of the foreign exchange market, the Bretton Woods System, occurred toward the end of World War II.
The Bretton Woods Accord was established to create a stable environment by which global economies could restore themselves. It attempted this by creating an adjustable pegged foreign exchange market. An adjustable pegged exchange rate is an exchange rate policy whereby a currency is fixed to another currency. In this case, foreign countries would 'fix' their exchange rate to the US Dollar .
5️⃣Birth of Floating Currency - Currency that is not pegged to any assets or other currencies is known as a 'floating currency'.
And what will be next?
Very hard to say but blockchain technologies will make the system change again.
IMPROVE YOUR TRADING | Simple Flowchart For You to Follow 🧭📍
A short ⚠️disclaimer before we start:
the rules that will be discussed in this post are applicable only for technicians - traders that are relying on price action/structure/etc.
Also, we assume that structure levels do work and for us, key levels are considered to be the safest trading zones/points.
In order to increase the accuracy of your predictions analyzing different financial markets, you must learn to identify the direction of the market.📈
The identification of the market trend must be based on strict & reliable & testable rules.
It can be based on technical indicators or price action
Personally, I prefer to rely on price action.
Here are a couple of examples of how I identify the market trend:
There are three main types of market trends:
Bullish Trend
Bearish Trend
Sideways Market
Depending on the current direction of the market, on the chart, I drew a flow chart✔️ that will help you to act safely.
➡️Sideways market signifies consolidation & indecision. Usually being in such a state the market tends to coil in horizontal ranges.
To trade such a market safely, the best option for you will be to wait for a breakout of the range & wait for the initiation of the trend.
➡️Once you spotted a bullish market, do not rush to buy.
Your task will be to identify the closest strong structure support.
You must be patient enough to let the price reach that support first (and by the way, there is no guarantee that it will happen) and then you must wait for a certain confirmation.
Please, check the article about different types of confirmations:
Only once you get the needed confirmation you can buy the market.
➡️The same strategy will be applicable to a bearish market.
Spotting a short rally it is way early to just sell the asset from a random point.
You must find the closest strong structure resistance and wait for the moment when the price will approach that.
Then your task will be to wait for a confirmation and only when you got the reliable trigger you short the market.
🦉Try to rely on this flow chart and I promise you that you will see a dramatic increase in your trading performance.
And even though it may appear to you that this flow chart is TOO SIMPLE, in practice, even such a set of rules requires iron discipline and patience.
Thank you so much for reading this article,
I hope you enjoy it!
❤️Please, support it with like and comment. Thank you!
Learn How to Trade Double Bottom Formation | Full Guide 📚
Hey traders,
If you are learning price action trading, you definitely must know a double bottom pattern.
Double bottom is a reversal pattern.
It is applied to spot early market reversal clues and catch the initiation of a new bullish trend.
Preconditions for a double bottom:
1️⃣ The market must trade in a bearish trend.
2️⃣ After a formation of the last lower high, the price must set equal low.
3️⃣ The price must return back to the last lower high level.
✅Once these conditions are met the pattern is considered to be completed.
The formation of the pattern is considered to be a ⚠️WARNING sign.
Even though many traders buy the pattern once it is completed,
for me it is not enough.
❗️Remember that the price can easily start to consolidate and form a horizontal channel for example.
The trigger that we will look for is the breakout (candle close above) the last lower high level (based on a wick and its highest candle close) - the neckline.
Being broken to the upside, the market sets a new higher high.
It signifies a violation of a current bearish trend.
⬆️Attempting to catch an initiation of a bullish trend, we will buy the market with a buy limit order on a retest of a broken neckline.
❌Safest stop will lie below the lows of the pattern.
💰Your reward must be at least 1.5 of your risk.
Following these simple rules, you will be impressed by how accurate this pattern is!
❤️Please, support this idea with a like and comment!❤️
📈📉How Market Cycles Work | Bull & Bear Market 🐿
All the financial markets are cyclical :
after a sharp and strong bullish trend always comes a severe bearish rally.
After panic & massive selloffs, the market tends to recover and awakens optimism closing a vicious circle.
Watching carefully how the price acts during these cycles, an observer can identify the recurring stages .
#1 Accumulation
The accumulation stage starts once the market finds its bottom.
Bearish pressure weakens and the market starts trading in sideways.
While the crowd remains cautious, smart money like banks and hedge funds start buying the asset considering that to be undervalued.
It leads to occasional moderate spikes of a price.
Being the best time to buy the market, the accumulation stage is the hardest to spot correctly. Global pessimism and disbelief make the investor scared to buy the asset.
#2 - 3 Public Participation & Excess Stage
The accumulation stage and the actions of smart money make the crowd buy the asset steadily. Pushing the market to new highs and generating sufficient profits, the crowd brings more and more liquidity into the market.
Bullish trend is universally confirmed.
The optimism steadily transforms into euphoria and the asset quickly becomes overvalued. Greed starts to dominate the crowd. Record highs are reached and no one doubts further growth.
#4 Distribution
At some moment the market stops growing. Even though everyone is very confident in a bullish continuation, the market naturally refuses to grow.
Moreover, the market starts to slow down and volatility drops steadily.
The market starts ranging and trade in sideways.
Smart money starts selling their positions steadily to a greedy crowd.
#5 Bearish Trend
With an absence of growth, more and more market participants start selling the asset. Optimism steadily vanishes and pessimism comes into play.
Contemplating negative figures, the crowd starts to panic, making the market fall sharply.
The outlook is dark and no one believes in recovery.
Then the market suddenly starts slowing down and the cycle repeats.
Watch how the price acts, learn the price action & master the market cycles to benefit from any of them.
❤️ Please, if you enjoyed this article, like it and share your feedback in a comment section. Thank you! ❤️
Most Powerful Formation in Technical Analysis Sideways Channel!Hey traders so in the last lesson we spoke about how the Head & Shoulders pattern is great for spotting tops and bottoms in the market. Today I want to introduce you to the most powerful formation in all of technical analysis called The Narrow Sideways Channel. This is every traders dream to learn how to catch the big moves and profits that make history in the markets. They don't happen very often but when they do the market can explode and we can catch the big move before it happens. If you ever see one of these on your charts get ready to strap in your seatbelt because it will be a wild ride!
Enjoy!
Trade Well,
Clifford
🔋 Live to trade another day 🔋As the weekend has come we have lost many fellow traders in the days that have passed and we will lose many more in the next week and the week after that... but if they only knew the basic principles of what this video goes over, they (their accounts) would still be here with us!
Our mission is to help other traders become successful and in an effort to achieve our goals we come up with simple yet effective tips and tricks on achieving our goals, by helping you achieve your goals!
This video goes over some ideas and tips on how you can survive as a trader, the tips we go over are:
LIVE TO TRADE ANOTHER DAY:
- Use position sizing
- Have a definite exit area
- Prepare properly before starting to trade
- Review your trades daily or weekly (always seek improvement)
- Always follow your process & system
- Don't listen to others, find your own trades daily
- Cut your losers when the market tells you the trade is done, you
can always re-enter
We hope this video helps you achieve consistency! If you like it check out the other related videos on our channel!
Happy Weekend Traders!
History of Forex | From Ancient to the Modern Day TradingWe have come a long way from the previously practiced barter system to the modern-day system of trading currency. Following is a brief summary of the evolution of currency and how it gave rise to Forex Trading.
Here are the main stages that are illustrated on the chart:
1️⃣The Ancient system of Trading - Trading with Gold
As early as 6th century BC , the first gold coins were produced, and they acted as a currency because they had critical characteristics like portability, durability, divisibility, uniformity, limited supply and acceptability.
2️⃣Bank Notes Originated - Deposited Gold in banks in exchange for banknotes
3️⃣Role of Geography - Various banks of different regions printed different currencies
Gold Standard - Currency pegged to gold
In the 1800s countries adopted the gold standard. The gold standard guaranteed that the government would redeem any amount of paper money for its value in gold . This worked fine until World War I where European countries had to suspend the gold standard to print more money to pay for the war.
4️⃣Bretton Woods System - Currency pegged to USD
The first major transformation of the foreign exchange market, the Bretton Woods System, occurred toward the end of World War II.
The Bretton Woods Accord was established to create a stable environment by which global economies could restore themselves. It attempted this by creating an adjustable pegged foreign exchange market. An adjustable pegged exchange rate is an exchange rate policy whereby a currency is fixed to another currency. In this case, foreign countries would 'fix' their exchange rate to the US Dollar .
5️⃣Birth of Floating Currency - Currency that is not pegged to any assets or other currencies is known as a 'floating currency'.
And what will be next?
Very hard to say but blockchain technologies will make the system change again.
EURAUD Analysis and trade ideaIn this video, I will perform top down analysis, and walk you through the process.
Let me know how this works for you!
I want to help you become an independent trader!
📈📉How Market Cycles Work | Bull & Bear Market 🐿
All the financial markets are cyclical :
after a sharp and strong bullish trend always comes a severe bearish rally.
After panic & massive selloffs, the market tends to recover and awakens optimism closing a vicious circle.
Watching carefully how the price acts during these cycles, an observer can identify the recurring stages .
#1 Accumulation
The accumulation stage starts once the market finds its bottom.
Bearish pressure weakens and the market starts trading in sideways.
While the crowd remains cautious, smart money like banks and hedge funds start buying the asset considering that to be undervalued.
It leads to occasional moderate spikes of a price.
Being the best time to buy the market, the accumulation stage is the hardest to spot correctly. Global pessimism and disbelief make the investor scared to buy the asset.
#2 - 3 Public Participation & Excess Stage
The accumulation stage and the actions of smart money make the crowd buy the asset steadily. Pushing the market to new highs and generating sufficient profits, the crowd brings more and more liquidity into the market.
Bullish trend is universally confirmed.
The optimism steadily transforms into euphoria and the asset quickly becomes overvalued. Greed starts to dominate the crowd. Record highs are reached and no one doubts further growth.
#4 Distribution
At some moment the market stops growing. Even though everyone is very confident in a bullish continuation, the market naturally refuses to grow.
Moreover, the market starts to slow down and volatility drops steadily.
The market starts ranging and trade in sideways.
Smart money starts selling their positions steadily to a greedy crowd.
#5 Bearish Trend
With an absence of growth, more and more market participants start selling the asset. Optimism steadily vanishes and pessimism comes into play.
Contemplating negative figures, the crowd starts to panic, making the market fall sharply.
The outlook is dark and no one believes in recovery.
Then the market suddenly starts slowing down and the cycle repeats.
Watch how the price acts, learn the price action & master the market cycles to benefit from any of them.
❤️ Please, if you enjoyed this article, like it and share your feedback in a comment section. Thank you! ❤️
IMPROVE YOUR TRADING | 4 TYPES OF TRADE CONFIRMATION ✅👌
"Look for a confirmation!"
"Wait for a confirmation!"
When I was learning how to trade and when I was watching and reading different trading educators, these words naturally pissed me off. What the hell are you talking about? What confirmation?
It was a full-blown mystery...🤯
Then, once I started to mature in trading and trade full-time, I became an author on TradingView.
Posting my forecasts and trading setups, I frequently mentioned the confirmation.
And now the newbies that are reading me and learning from me are pissed off...🤬
That is so funny I guess.
But the truth is that the confirmation must become a fundamental part of your trading strategy. It is your key to successful trading.
What exactly is the confirmation?
It depends on many many different things, in this article I will discuss with you the 4 main types of confirmation and give you detailed examples.
1️⃣ - PRICE ACTION CONFIRMATION
That is actually what I prefer.
Analyzing different markets and searching for decent trading opportunities often times we find some peculiar instruments to watch.
Identifying the market trend and key levels we find the potential spots to trade from.
But do we just open the trade once the "ZONE" is spotted?
I wish it could be that simple...
Trading just the zone, without additional clues brings very negative figures. We definitely need something else.
Price action & candlestick patterns can be those clues.
Accurate reflection of the current local market sentiment makes the patterns a very reliable confirmation.
Dodji's, pin bars, double tops/bottoms ...
Proven by history, the skill of identification & reading the patterns will pay off quickly.
Being in some sense the language of the market, the patterns are the fundamental part of my trading strategy.
2️⃣ - FIBONACCI LEVELS
Fibonacci levels are a very popular technical tool. Being applied properly it helps the trader to confirm or, alternatively, disqualify the identified "ZONE".
With multiple different methods like confluence trading, fibs are applied in hedge funds and various banking institutions.
The main problem with the fibs, however, is complexity and a high degree of subjectivity. Meeting different traders and watching different posts on TradingView I noticed that all traders tend to have their own vision. There is no universal system to apply here, a proper fib.confirmation technique can be built only with long-lasting backtesting and practicing.
3️⃣ - FUNDAMENTAL NEWS
The figures in the economic calendar, news, tweets. Actual fundamental news can become your best confirmation tool.
However, the main obstacle right here is the promptness, validity and reliability of the data that you get.
The information shouldn't be delayed and it must be objectively true.
The search for such a source is by itself is a very time-consuming and labor-intensive business not even mentioning its potential costs.
And that is not all. Knowing how to make sense of that data, its proper perception, and understanding requires a solid economical and financial background and experience.
At the end of the day, becoming an expert in fundamental analysis, the trader can easily sort the trading zones and trade only the ones that are confirmed by a decent fundamental trigger.
4️⃣ - TECHNICAL INDICATORS
I believe all the traders apply some indicators. From a simple moving average to some complex composite algorithms, indicators play a very important role in trading.
Being 100% objective and providing up-to-date real numbers and figures, they are our allies in a battle against subjectivity.
For many traders, the various signals from indicators are considered to be accurate and reliable confirmations.
Many algotrading solutions are operating simply relying on such signals and being able to bring consistent profits proves the power of technical indicators.
What confirmation type should you rely on?🧐
I guess the main rule right here is that the confirmation must MAKE SENSE to you. You should feel the logic behind that. It must make you confident in your action, even in case of the occasional losses, it must keep you calm and humble.
Let me know in a comment section what confirmation do you prefer!
💝Please, support my work with like and comment!
Thank you for reading.
₿ITCOIN Licence to Thrill.Trying to spy on some logic for a long.
I have recently covered in several streams and video's - why my bias is still down. But want to see some logic from the other side of the table.
If we are long here - here's some thoughts;
Could this be the 0-1, back to 2 and on it's way up to 3 move?
If so what is the "?" phase?
Let's go one better and assume a pretty channel break;
Where are the fib targets above? we have a 1.618 move up.
Zoomed in
Here is clearly a 38% Pullback
Could it be?
Does this work with a breakdown if we apply a retracement?
Well yes; So now it's all about logic for a move up and a bigger drop, or are we likely to drop from here?
Just me thinking out loud; have to watch the streams & videos for the full breakdown of the logic both ways.
Disclaimer
This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
2nd Disclaimer - This is not me long, this is not a long call, this is just breaking down some logic if it is to go long. Trying to assess each situation.
