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LINKBTC Blue Sky Breakout Retracement Hello Traders, Today's Technical Analysis will be on LINKBTC with its decent retracement from its blue sky breakout. Points to consider - Held support at the .618 Fibonacci level (Fib levels are only considering body candles not wicks in this TA) - Three touches confirming trend line - Structure has been putting in lower highs and higher highs - Potential falling wedge pattern - Extremely low volume thus breakout is highly probable - Potential Higher Low in place if trend continues bullish - EMA's neutral not showing much significance right now - RSI currently neutral - Stoch's however showing more potential of downwards momentum Link could retrace right back to the .618 Fib before making another move up, however if the trend line is broken, then whole market structure will be overturned. This will make the structure more bearish, signifying that the correction is not over and further downside is probable... What are your thoughts? And remember, “Holding losses and hoping to break even is not an investing or trading plan. That is dumb money on suicide watch!” ― Fred McAllen,
by AzizKhanZamani
Unethical trading representations (educational)This topic has not to my knowledge been covered on Tradingview before now. I specifically explore ' unethical trading representations' and explain in the limited time what that means as a concept. To be absolutely clear, I am not asserting that every paid-for service or representation is unethical or illegal. What I am saying is that new traders and the inexperienced are like 'fresh meat' for these schemes, that aim for a small percentage of them. The impact assessment - whether or not new traders pay for 'inner circle' access in these things, is of real importance. Nothing said in this post refers to any identifiable individual, group or entity. New traders especially need to be hyper-vigilant and cautious before parting with their money. But even if not parting with money, the potential negative impact is of importance. I declare a personal bias, that I have been stung by three of these early in my trading career.
Education
by Captain_Walker
FTSEMIB: uncertain directionVery short term In line with the other world indices, this upward trend driven by the resumption of American prices will tend to continue. The level to which it will aim in the very short term is the dynamic resistance identified by the weekly EMA200 at an altitude of 20450 points: from here it will be understood whether it will have the strength to continue towards 20900 points breaking it and confirming the upside break, or if it will be rejected by taking over of the main trend. Short and mid term From a technical point of view in the short/medium term, the Italian index is still bearish. The trend is confirmed even from a fundamental study: the unstable political-economic situation of our country and the growth forecasts for 2019 ( near the flat level ), with the general European situation also in the balance, it is very probable that soon we will assist to a new drop in prices and in particular on the FTSE MIB that will return to bet 18000 points.
F
by BFCMInvest
SPX [TECHNICALS & FUNDAMENTALS] rally to Feb 15 at $2800TECHNICALS - Gann fans and Fib retracements show us going on one more run. On an Eliot count, we can still be working on the 5th wave up. And take a closer look at the top 10 largest stocks... they all have room to go on one more run. Also, we didn't get a sharp dip from the 618 ($2720), suggesting we have room to keep going. Stoch is overbought, RSI is overbought (almost...), but if we stay flat on Tuesday Feb 5 we can work some of this off, and gap higher Wednesday at open. When we finally hit the 2800-28200 fib level, expect to see an impulse touch and sharp fall - similar to how Amazon touched the 618 at $1730 before consolidating. FUNDAMENTALS - Trump state of the union will be boring... why would he declare a national emergency? That's his last card. He will wait until Feb 15 to do that. Dems have no rush to make a deal bc they want to secure the 2020 election by driving Trumps into defeat. Feb 15 checks all the boxes on the technical projections. I think the Mueller subpoena is supposed to be around Feb 15 too. The jobs report was good, J Powell's dovishness was good. The general public still believes we will keep on rallying in this bull market. Sucker in the last few on this rally to $2800, and drop it hard. Side note- I also look at crypto as a leading indicator to market drops since it is a high-risk sector. BTC looks primed to jump to the top of the ascending triangle before falling as well. We are on thin ice right now though, and the stock market is starting to look (technicals) and feel overstretched. Consider or simply disregard my collection of thoughts here... but definitely proceed with caution.
SP:SPXEducation
by warrenbudget
2
Trend is your friend -[A lesson](NEVER GO AGAINST THE MARKET)EURAUD I learnt a lesson for lifetime here: I closed my short early around the 4th LL(MY TP had reached) : Now i wanted more so kept my longs but extinguished my Shorts. I had long positions buildup on every lower low considering the EUR to overpower AUD fundamentally. But it never occurred as you can see I did exit my longs during the Asian session as I saw the LL break but it was a fakeout for the session. In the End the fake move turned out to be the original move. How biased I became doing TA to justify My Longs and over 400$ in draw down(Wiping off all my gains for today and yesterday.) I made an A symmetric triangle for tend reversal then searched the web and realized it was a continuation pattern my mind played tricks on me. As soon as the Triangle broke I got out of the trade as I couldnt see my gains go to -ve.(So now im neutral for the week. All hardwork gone just cause i kept adding to my loosing position ) I even made a Inv H&S as you can see to justify that my long position was valid and shouldnt have closed em in loss. But thankgod I did Finally, friends be careful out there never go against the trend. So my holiday starts much sooner gonna take a breather here and start back again from monday. I Had my analysis of downtrend did take the trade. in-spite of that my mind kept playing tricks on me to add counter trend positions and IDK what I need to do to not make the same mistake again(Read more psychology books?) Any help would be wonderful.
Education
by blankz369
Blowing up accounts can be a good thingIn this screencast I show some of my positions which are mirrored on my live account. I say that blowing up Tradingview paper accounts is a good thing. The present account has not been blown up for about a year, which is much better than before. I used to blow up an paper account every 3 to 6 months before. It's a very safe space to gain experience, to fail repeatedly but learning from the 'punisher' (the markets). I show a couple key positions and how I thought about them. I assert that a bit of common sense is useful when you know the characteristics of the instrument you're exploiting. But learning how each instrument tends to 'behave' can only be discovered by spending time and interacting in the markets. So I don't trust Wall Street - at all! I'll tighten my stops more aggressively if I'm in a very favourable position. Same for Yen pairs and Gold. USDJPY is relatively tame compared to other forex pairs just from my experience on 4H time frames. I'm delighted to point the way for new traders. PM me questions if you wish but I don't give advice, sell signals or courses/services, or give hot tips. I believe in facilitating new traders to discover their own best methods which match their individual psychologies.
OANDA:US30USD
by Captain_Walker
It's a loser's game - officiallyThis post is modified and re-posted after it was banned (a matter of fact and the truth). Why? I was said to be promoting a broker's website seemingly because by I identified the source of quotation and said that they were being honest. I have now substituted the name the broker with a fictitious ABCXYZ (which is not the name of any broker as far as I am aware). The rest of the post is the same. I promote nobody - not even myself. ESMA is not a broker. The quotation is directly from an email I received today from ABCXYZ.com ABCXYZ.com has been fully transparent on the risk of losing money on it's platform. Nothing in this educational post is to suggest that people avoid trading. The sole intention of this post is for new and season traders to better understand the risks, and to realise the amount of effort, discipline, training and sacrifice that are needed to become consistently profitable. As a new trader your chances are very very slim, for making consistent profits over months or years. Some people think that it's all about following a set or rules. Well, if it was that simple then 80% of people would just follow rules and be millionaires. That's not going to happen! For novices, the high probability of losing money is nothing to do with any particular broker. It must be something else! I'm afraid the most important factor is hardly ever discussed in forums. What's that? It's about 'trader psychology'. It's that unseen thing - the elephant in the room - that causes the problems. I say, it does not matter what system you use to tackle the markets with, the underlying obstacle is 'your psychology'. It is not about mastering the charts. It's all about self-mastery. Any dissenting opinions? Have your say now. For the avoidance of doubt or suspicion, I am 100% committed to helping other traders develop for absolutely no pecuniary or other advantage to me - ever! In other words, I'll never take you to some site that sells tips, signals, or courses - where you'd start of at free but then have to pay to learn from some 'inner circle'.
BITSTAMP:BTCUSDEducation
by Captain_Walker
TRON is Warming Up.. 50% or no?Heard a few ppl saying its time to buy TRON. Hell no its not time yet. I agree it sits on a old support line of 358 sat causing the 2X jump early this year. However, if this area does not hold, the next support is 284sats or about a 19-22% loss. Nano followers went in on this same set and was slaughtered for around 15% loss and more before people started selling. The BIG Noodle says we are in a downtrend, so for now I watch and wait. Respect the Big Noodle! For now I watch and wait! FIBAUS
Short
by fibonacciaustrian
XRP - BROKEN THROUGH THE $0.47 TO THE DOWNSIDEXRPUSD is doing exactly as predicted 3 weeks ago - following the downward trendline, hitting $0.47175 at the exact point on my chart and on its way down towards $0.36 and even lower. Currently XRP is following BTC to an extent but if it decouples from Bitcoin as many claim it will, then we might be seeing it plummet quicker. I will get very LONG when it gets down to the mid $0.20s as I see this as the true bottom before the BIG climb. Anything can happen so trade safely and be careful of the bounces as they always seem to end up lower than where they were before the bounce. GOOD LUCK!
BITFINEX:XRPUSDShort
by Douglas15
1
XRP - BRACE FOR POSSIBLE FURTHER LOSSESThis is the 3rd update to my first analysis on 20 June 2018 where it became clear where we are headed. So far it has been pretty accurate and I stand by these figures. Next target - $0.36 and maybe even lower before we can expect a major turn in the market and the Bulls would take firm control again. I have no doubts that we'll see some bounces along the way but be careful not to get trapped like many traders do and end up selling at a loss to get out of a trade. As I always say, anything can happen so use your own discretion and GOOD LUCK!
BITFINEX:XRPUSDShort
by Douglas15
1
EURUSD_How NOT to trade_Reflection of last week_2/12-16/18Last week was not good as I was on the wrong side of USD plain and simple. On Friday - two weeks ago I opened a short position on EURUSD during what I considered a counter trend pullback. Unfortunately EURUSD decided to resume trend and run higher Monday through Thursday. Stoploss taken (see attached.) By Thursday I was confident I had gotten my head on straight and identified a 4 hour sell signal on cad (by shorting USDCAD I was positioning long EURUSD. So I shorted Cad about 35 pips from the low, only to watch EURUSD fall roughly .77% Friday and USDCAD ripped higher to take my second stop loss of the week (see attached.) I ignorantly felt like could profitably trade the counter trend pullback on EURUSD, only to watch THE EXACT setup I'm suppose to be watching for, a beautiful WITH trend reversal signal perform perfectly. But in that moment I refused to trade it because of my non-faithful short side bias. Not pictured is the perfect daily 10-10-20 slow stochastic that showed extreme prejudice for trend continuation. By the time I had gotten my head on straight and accepted EURUSD's ability to run higher the move had already been made. Price hovered at the top of the range where I should have been taking profits. The pain is punishment for lousy mistakes. Good news is I only risked 1% on the first trade and .5% on the second per trading plan detailing hurtful losses.I hope my followers my learn from my mistake. I also want to sheepishly comment I had been testing out new indicators and charts that I was unfamiliar with. When I pulled up my old style chart with the strong fib levels it became obvious how stupid this mistake was Not going to rattle my cage. I'm playing these markets. Not the other way around.... If you found this lesson useful or thoughtful Likes/Comments/Follows are much appreciated! Disclaimer: Oanda data shown. Material is educational only. Trade at your own risk!
by UnknownUnicorn981629
1
HOW TO BECOME SUCCESSFUL IN TRADINGHi everyone. I just wanted to share little bit of my knowledge and learning in the forex market with you all so you can benefit from it too. I started learning trading 3 year ago. Fundamentals and News trading were what I started with. As a news trader you need to watch the market news on fundamentals (such as central bank decision makings on bank interest rates) and sentiments (such as short term news like geopolitical concerns in certain countries which moves the market for a short term only).... But it did not work out for me, so I moved on to a different strategy. The next was support and resistance strategy which I am sure most of you are familiar with. It made me some winning trades but in the long term I was in loss. Next I moved to a strategy called EW (Elliot Waves), I tried to master counting waves 1,2,3,4,5 it helped me a bit but it was also a failed strategy for me, I am not sure if it worked for anybody but it did not work for me. Till 9 months ago I came across learning a concept called IMPULSE AND CORRECTION. When I started removing all the lines and indicators from my chart and just tried to look at the charts from a bigger perspective, I realised that price forms 2 moves only. 1. IMPULSE (a sharp move to upside or downside with long candles) 2. CORRECTION (a pattern which forms before an impulse occurs) So to cut the story short, this is what I have been focusing on in the past 9 months and to be honest it has been making me money with proper risk management and PATIENCE. I will go into details in my next educational posts about this strategy and how to identify corrective patterns so you can catch the next impulse. For the time being please look at the above chart to learn something new from my experience so far. Thank you for taking the time to read this as I know many of you are still struggling to make it happen in trading. Hope you learn something new from my posts and wishing you all good luck in this business.
Education
by AlanTradesFX