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USDCAD WEEKLY TIME FRAME The Structure looks good to us, waiting for this instrument to correct and then give us these opportunities as shown on this instrument (Price Chart). Note: Its my view only and its for educational purpose only. Only who has got knowledge about this strategy, will understand what to be done on this setup. its purely based on my technical analysis only (strategies). we don't focus on the short term moves, we look for only for Bullish or Bearish Impulsive moves on the setups after a good price action is formed as per the strategy. we never get into corrective moves. because it will test our patience and also it will be a bullish or a bearish trap. and try trade the big moves. we do not get into bullish or bearish traps. We anticipate and get into only big bullish or bearish moves (Impulsive Moves). Just ride the Bullish or Bearish Impulsive Move. Learn & Know the Complete Market Cycle. Buy Low and Sell High Concept. Buy at Cheaper Price and Sell at Expensive Price. Keep it simple, keep it Unique. please keep your comments useful & respectful. Thanks for your support.... Tradelikemee Academy
Long
by Tradelikemee
2
Creating Your Trading Strategy: Simple Steps and Common PitfallsWhen it comes to using technical analysis for making trading decisions, a solid, simple, yet robust trading strategy is an essential foundation for traders to achieve consistent profits. However, constructing that strategy can be a challenge, especially for those new to trading, as there is an overwhelming amount of information out there. There are nearly countless books written on the subject of trading strategies. We want to simplify the process so that you can develop your own approach and get started. Step 1: Determine your market, timeframe, and trading methodology The overall first step in constructing a trading strategy is to determine: the market, trading methodology, and time frames you wish to take on. This will help you choose the appropriate indicators and approach to your trades. There are several markets to choose from, but it is highly recommended that you pick one when you first start trading. It is easy to look at all of the opportunities present in the market and potentially overplay your hand by trading too many, which can lead to devastating losses. As an example, if you wanted to scalp the forex market, it would be best to pick one or two currency pairs to trade rather than trying to monitor all major currency pairs for opportunities. Defining your trading methodology is another aspect of this step. Are you intending to hold stock or ETFs long-term? Do you want to swing trade or day trade cryptocurrencies? Maybe you believe you want to scalp the forex market. Doing your own research into these varying methodologies is a paramount step in formulating your strategy. Research all of them to better understand what they are and how they may fit your overall goals and risk tolerance. Your trading style can help determine what overall time frames you are looking at. A long-term holder will typically rely on higher time frames such as the daily or weekly timeframe. While a trader who predominantly scalps may rely more heavily on the 1-minute or 5-minute timeframes. Choosing the appropriate time frames and sticking with them for your trading decisions will help you achieve discipline and consistency. Step 2: Choose your indicators When choosing indicators for your trading strategy, it is important to know that there are several broad indicator categories to choose from. Included in these categories are: trend-following indicators, momentum indicators, volatility indicators, and volume indicators. Trend-following indicators help traders identify the direction of the trend, while momentum indicators measure the overall strength of a trend. Volatility indicators help traders identify the level of price volatility in the market, and volume indicators measure the amount of trading activity taking place. Traders commonly pick a combination of these to be included in their strategy to help give a clearer overall picture of the potential market direction. It is crucial to keep your strategy simple, so we recommend using 2-4 indicators at most. Choosing the right indicator combinations can be difficult, but is crucial to the success of your trading strategy. While it may be tempting to use multiple indicators in the hope of finding the perfect combination, having too many indicators can do more harm than good. When you have too many indicators, it becomes difficult to make clear decisions. You may end up with conflicting signals that can cause confusion and lead to losses or missed opportunities. It's important to choose only a few indicators that complement each other and provide valuable information about the market conditions. This will allow you to make more informed decisions and stick to your trading plan with greater confidence. Step 3: Define your entry and exit rules Once you have chosen your indicators, the next step is to define your entry and exit rules. This will help you determine when to open and close trades. For entries, you are taking the signals generated by the indicators you have chosen in step two and making a clear and definable set of rules for entering a trade. There can be other factors, such as market structure that play a role, but from an indicator standpoint, it is good to make these rules easy to follow. Your chosen technical indicators can also be used to exit trades. For example, traders may incorporate moving averages into their strategies, and moving averages can be used for both entries and exits. Other exit conditions include having hard set take profit or stop losses. We covered this topic in our stop loss article a few weeks back (and we highly recommend you check it out). No matter how you decide to make your entry and exit rules, please ensure you implement proper risk mitigation techniques to protect your account, and in turn, help you grow. Step 4: Backtest your strategy and practice, practice, practice Before putting your strategy into action it is essential to backtest it using historical data. This will help you determine if your strategy is profitable and identify any areas that need improvement. Note that while backtesting is an important part of determining if your strategy is successful, past results are not indicative of future success. Another aspect of this step is putting your strategy into practice. We never recommend diving straight into the deep end with your money before practicing. There are many free demo account options out there to get started. It is recommended that you find one that fits your needs based on the market you will be trading. The key part of this step is patience and carrying over that patience for when you are ready to go live with your strategy. Common pitfalls to avoid: When constructing a trading strategy, it is important to avoid common pitfalls that can lead to losses or missed trading opportunities. Some common pitfalls include: Overcomplicating your strategy: Using too many indicators or rules can make your strategy overly complex and difficult to follow. Failing to backtest and practice: Backtesting is essential to ensure your strategy is profitable and identify areas that need improvement. Ignoring risk management: Proper risk management is essential to minimize losses and maximize profits. Losing patience and jumping right in: It is easy for anyone to find a hot new indicator they believe is their edge in the market and to subsequently jump right into trading. Don’t fall into this trap as the outcome is seldom good! Take your time and become a student of the market you are trading, and a student of your strategy In conclusion, constructing a robust yet simple trading strategy using indicators requires careful consideration of your market and timeframe, choosing the appropriate indicators defining your entry and exit rules, and backtesting your strategy. There are other aspects of technical analysis that could be tied in between the steps listed above such as market structure and patterns. However, the goal of this article was to make the process as simple as possible to help traders get on the right path. By avoiding common pitfalls such as overcomplicating your strategy, failing to backtest, ignoring risk management, and chasing after losses, traders can increase their chances of success in the markets.
NASDAQ:AAPLEducation
by LeafAlgo
5
Will BTC Break and Bounce from their 200 Moving Average or Fall?In light of recent market trends, Bitcoin is set to pump due to its strong respect for the 200 EMA as a key support level, indicating robust investor sentiment. Coupled with increasing institutional adoption and favorable market indicators, this sets the stage for a potential bullish surge in Bitcoin's price. While strong indicators suggest a potential upswing, it's critical to understand that market cycles are inherently unpredictable and don't always follow historical patterns. Investment decisions should always account for the volatility and risk associated with the crypto market, underscoring the importance of a well-diversified portfolio. For an altseason to kick off, typically, we would first need to see Bitcoin consolidate or slowly trend upwards without extreme volatility. This stabilization often leads investors to look for higher returns in altcoins, pumping more money into the broader crypto market. It's crucial to remember, though, that these market cycles can be unpredictable, and risk management should be a top priority during any potential altseason. "What are your top picks for the next altseason and why?" "Do you agree that a Bitcoin consolidation phase could signal the start of an altseason?" "What strategies do you use to manage risk during a potential altseason?" "What indicators are you looking at for potential crypto market movement?" "In your opinion, how does Bitcoin's current behavior align with previous market cycles?" "What's your perspective on the correlation between Bitcoin's performance and the altcoin market?"
CRYPTO:BTCUSD
by MarkBTV
1
USDZAR | Monthly Chart | Outlook USDZAR as we can see that it recently broke a crucial level around 18.50xxx during the course of this month creating new highs around 19.5xxxx. Looking to the right we can see the if USDZAR closes above 18.50xxx at the end of May, we can expect USDZAR to push further up to touch 20.50xxx - 20.70xxx before attempting to come back down to settle around 17.5xxxx - 16.2xxxx. Given the current economic climate of South Africa and all the challenges the country is facing, the overall out look still seems bleak for the ZAR and we can expect to see it weaken further against most if not all major currencies as it ventures further to new historic lows/levels.
Long
by mosa_moshka
7
Gold leads inflation by 20 yearsBank run crisis causes the current Fed fund rate to trade higher than the rest of the bond yields, what is its implication? As US CPI remain high, global equities will continue to be uncertain this year. Investors are now turning their attention to precious metals. Gold has started to move up since year 2000, it has appreciated more than 700%. However, the inflation and interest rates was stagnated the last 20 years. What's happening? Because in those years, I classified it as "Borrowed Time" A need for easy money policy by: 1) Increasing the money supply 2) Lowering interest rates Good times may be over, but I am seeing opportunities in the other set of assets - commodities. For traders - 3 types of gold for trading: • COMEX Gold 0.10 per troy ounce = $10.00 • E-mini Gold 0.25 per troy ounce = $12.50 • Micro Gold 0.10 per troy ounce = $1.00 Disclaimer: • What presented here is not a recommendation, please consult your licensed broker. • Our mission is to create lateral thinking skills for every investor and trader, knowing when to take a calculated risk with market uncertainty and a bolder risk when opportunity arises. CME Real-time Market Data help identify trading set-ups in real-time and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com
COMEX:GC1!Long
by konhow
GOOGL Long Term AnalysisNASDAQ:GOOGL Hi guys, So this is my analysis for GOOGL . Please bear in mind that this is a long term analysis and it could take time to play out. As you can see GOOGL was in a clear Uptrend (Higher Highs, Higher Lows). We created ATH in November 2021 and since then price tried to break that level in January 2022 but that attempt to break it was not successful. We created Lower High and finally in April 2022 trendline indicating uptrend was broken. Since then as you can see, price is creating Lower Highs and Lower Lows indicating we are in Downtrend. Possible reversal zones are Monthly Fibonacci Levels and Historical Demand Zones (where people are BUYING this stock). So that is a pretty nice alignment if you ask me and this are the zones I will be looking to place some buys if we reach them. For GOOGL to go up we need to break previous Lower High and of course a Downtrend Trendline as you can see on the chart. However, this can happen even now if this Lower Low holds and we start creating Higher Highs and Higher Lows to indicate return of the BUYERS and potential Uptrend, then we just follow the break of each Lower High from the past and that is exactly the point where you can consider taking some profit as these are the points where price is likely to make a pullback. This is not a financial advice :) Trade safe
NASDAQ:GOOGLLong
by Matko_MJ
GOLD : Benefits of Investing in GoldOANDA:XAUUSD Gold has been an inconsistent inflation hedge, but there may still be benefits to holding a small amount of the yellow metal in your portfolio. Gold has historically had a low or even negative correlation to both stocks and bonds, suggesting it offers value as a tool of diversification. Gold prices held up pretty well during the Covid-19 pandemic market sell-off in early 2020, for example. From Feb. 1 to April 1 in 2020, the S&P 500 declined 23% while the price of gold dropped less than 0.1%. Demand for gold from investors, central banks, jewelers and tech companies is also growing. According to the World Gold Council, global gold demand increased 12% year over year to 2.189 tons in the first half of 2022. Depending on your individual goals, there are several easy ways to invest in gold. Investors can buy gold bullion, physical bars or coins that can be kept in a safe or bank. You can also buy physical gold exchange-traded funds (ETFs) that hold gold bullion on investors’ behalf. The most popular gold ETF is SPDR Gold Shares (GLD). Investors looking to speculate in the gold market can trade gold futures contracts. These contracts provide significant leverage, allowing investors to control large quantities of gold with a relatively small amount of money. Finally, investors can buy shares of individual gold stocks or a gold mining ETF. The VanEck Gold Miners ETF (GDX) holds a diversified basket of 54 gold-related stocks, including Newmont Corp. (NEM), Barrick Gold Corp. (GOLD) and Franco-Nevada Corp. (FNV). Conclusion : GOLD IS SAFE HEAVEN TO INVEST IN IT .
OANDA:XAUUSDEducation
by INVESTRONE
1