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NAS100 29/10/23N1 giving us what we wanted to see from Wednesday, leaving us in the right position fort this week as we look to follow this pair short if the current range continues to give us strong bearish moves. after open we are watching our highs to see if we can catch this lower move before we hit our swing target. Remember to always read order flow and follow what price is showing you instead of trading based on your desired direction. And, as always, stick to your risk and your plan. We'll be closely monitoring market openings and price action throughout the week. If you find this analysis useful, let us know in the comments below and hit the boost button to show your support. Here's to a successful week of trading!
OANDA:NAS100USD
by rosshayes
How To Trade Double Bottom Pattern? ✅In the world of forex trading, understanding patterns and trends can make all the difference between profit and loss. One popular pattern that traders often look out for is the double bottom, also known as the "W" pattern. ✅The double bottom pattern occurs when the price of a currency pair reaches a low point, bounces back up, dips again to the same level, and then bounces back up again, creating a "W" shape. Essentially, the market has twice failed to break through the support level, indicating a potential reversal to the upside. ✅This pattern is often seen as a bullish indicator, as it suggests that buyers are stepping in and pushing the price up. It is important to note, however, that the second bounce should not dip below the first one, as this could indicate a continuation of the bearish trend. ✅So, how can traders take advantage of the double bottom pattern? One strategy is to enter a long position once the price breaks out above the resistance level created by the two bounces. This breakout confirms the reversal and can signal a potential uptrend. ✅It is also important to combine the double bottom pattern with other technical indicators, such as the Relative Strength Index (RSI) or Moving Average Convergence Divergence (MACD), to confirm the potential reversal. ✅However, as with any trading pattern, it is important to approach the double bottom with caution and to always have a solid risk management strategy in place. Traders should also be aware of potential false signals and market noise that could obscure the true trend. ✅In summary, the double bottom pattern can be a useful tool for forex traders looking to identify potential reversals and enter profitable trades. By combining it with other technical indicators and practicing proper risk management, traders can improve their chances of success in the ever-changing and unpredictable world of forex trading. I hope this post was helpful to some of our beginner traders😊 Dear followers, let me know, what topic interests you for new educational posts?
BITSTAMP:BTCUSDEducation
by SignalProvider
8
NZDJPY, Retracement to gain momentum for buyersNZDJPY is looking to continue its growth after a short term retracement retesting the 84.50 level. As you can see price has created multiple higher lows indicating a bearish run may not be likely at this moment. Price impulsively broke out of the upper trendline of a reversal structure surpassing previous highs which we should see further upside after a short pull back. Be patient with your entry, ensure your criteria for entry is met. Thanks Trade Safe
Long
by ktlfx
2
Reasons why Bitcoin shot up above $21k.The value of bitcoin has changed since the start of 2022 and now stands at fresh lows. The market value of BTC has just grown as it surpassed $21.8K. Washington's concentration on cryptocurrencies is one factor that has contributed to the advancement. The price of bitcoin dropped to new lows in November and December 2022 as a result of increased vulnerability. The continuous lows, both long-term and short-term, worried investors. Its value was constant in the last week of December, although there had been no discernible rise. The most recent changes show that Bitcoin's value has increased since crossing $21,000 and is probably going to rise even further. Here is a quick overview of recent Bitcoin developments and the elements that have led to its current rise. Because of the current trend, it is time to buy Bitcoin once more. For a week, the trend has been good, and now is the perfect time for investors to capitalize on it. It is conceivable that Bitcoin's price will retest its all-time high, which might be a sign of good things to come. The preferred course of action for interested investors is to go on a spending binge. The value of Bitcoin has persevered through numerous setbacks, and the current trend may mark the end of the crypto winter. An improvement in client security may create a beneficial climate for investors. When big brands crumbled and there was no way to stop it, investors felt in the dark. When a result, anxieties grew as the global market cap value fell below the $1 trillion threshold. There is a possibility that its worth will increase further if the market continues favourable.
CRYPTO:BTCUSDLong
by IPatrice
2
XLM Stellar 2025 price target of $34We have an ascending channel that depends on a low for XLM of between $0.042 and $0.05 price target sometime in the 1st quarter of 2023. In 2017 we had a meteoric rise of 67k% (67,000%) from the low price of $0.0015 beginning of 2017 up to the high of $0.93 by end of 2017. If we use a fractal and use the same percentage increase for 2025 the price of XLM could possibly hit a $34 target. I also have $8 on a Fibonacci line that could play a possible target as well. Will these actually happen is anyone's guess. No one has a crystal ball but we could use past percentages and fibs to make as close a determination as possible. A special note to keep in mind is the March deadline for the Ripple case to come to an end, therefore, giving both XRP and XLM good reasons for a rise in price action. Of course, this is all speculative and should be taken seriously considering all macros and other trading factors when making a decision to acquire both assets.
COINBASE:XLMUSDLong
by altcoinb
2
$GBPUSD - Bearish Order Block to attack sell side liquidity *SMT*SMT* = Smart Money Theory = everything you think that is not retail related to trading. First, SMT does not believe that triangles, wedges , trendlines , channels, harmonics, etc. has any effect on how price reacts. I'm Sorry, but you won't convince me that Bitcoin knows it has created a triangle and that it knows how to react from that? It does and will remember price levels, that's it. The second is to recognize that the price is not random, it is set by an algorithm controlled by those that control the asset. The Third thing to remember is price will move toward attacking where there is Liquidity (Equal Highs, Equal Lows, phantom Trendlines etc.) and Balance (Fair Value Gaps, Liquidity Voids.) That's the basics. The rest is very unique in the vocabulary you need to have and the concepts that wrap around these ideas.* It appears yesterday that that their may have been a sligh break of structure in the GBPUSD Chart. However, thje low it created was on par with another low that was created back in march of 2020, during the pandemic. My studies kead me to believe that the price may rise just above the current highs to enter a fair value gap and as soon as it does we should see the fall of the price to head toward that liquidity zone around 1.14 AS PICTURED HERE I HOPE thi was simple enought to understand. OANDA:GBPUSD
Short
by BodiesXWix
2
S&P 500I am overall bearish this week! IMO we will see a push down on Monday, a continuation from Fridays sell off. It will be either Tuesday or Wednesday depending on Mondays candle we will see a rip up to a big resistance of 4100. Then we will make our way back down. if we break down past 1st support of 4000 we can touch 3900, If we break 3900we can touch 3700. This is a big support zone. we might see a bounce but if we either break or bounce up then break down past 370 we can be sure the bears will be in full swing and make newer lows for the year!
BLACKBULL:SPX500Short
by bobbyguerrero213
BTC Long Term And Short Term AnalysisBTC LONG TERM - On the 4H BTC is making lower highs I can see it going down to about 20500 then put in a higher low on the daily for more upside i want to see a close above 22800 on the 4H BTC SHORT TERM - On the 30M it could get up to about 21300 but the volatility is very low so we could see a big move coming if the volatility expands while it's going down then we can see more downside. BTC OVERALL - For today I can see it going up to about 21300 before we see more downside.
by cryptokid1507
GBPCHF Swing Analysis +300 pip PotentialWelcome back! Here's an analysis of this pair! **GBPCHF - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support! Brian & Kenya Horton, BK Forex Academy
by BKTradingAcademy
5
Bounce Risk for Selling ShortStocks that are falling rapidly often have the illusion that they will never stop falling. The panic that settles into the mindset of an investor who is watching his or her profits and capital erode overnight can overwhelm a stock’s price action. So for a brief time, the stock can behave outside of what the chart patterns would suggest was reasonable. But the higher risk is always the bounce. Stocks can bounce without warning. Huge up days that form in a downtrend can cause significant losses for short sellers. A stock bounces because it hits a price point where: 1. b uyers are waiting to go long 2. where large-lot short sellers are preparing to exit Monthly and yearly highs are areas where there is risk for a bounce. These bounces are often caused by small-lot investors and traders perceiving this as a good place to buy a stock that has corrected. The old adage, “buy low and sell high,” prompts the uninformed to buy as a stock is running down without understanding the dynamics of a downtrend. So they buy at monthly and yearly highs when they are called out by the various news and trading chat forums: “XYZ has hit its 52-week price, this is a good time to buy XYZ.” Another big bounce area is far more important: the monthly lows and yearly lows. This is the price range where the wiser bargain hunters and bottom fishers lurk around. They know that low area is solid support and that a downtrending correction isn’t going to last on a strong company. Therefore, lows pose even bigger risk of bounces that actually can reverse the downtrend, especially if the steep descent has been underway for some time. A stock may nearly pierce through a sturdy support level, reach the yearly low and then suddenly make a V-shaped short-term bottom or shift sideways depending upon the strength of the stock and company. These sudden changes of trend catch many short traders unaware and create larger losses than monthly and yearly highs. Sideways patterns also create sturdy support levels where large bounces can occur for the rapidly falling stock. Moving averages for long-term trendlines are another area of strong support where bounce risk is high. How to avoid bounces for selling short: Identify each area where a stock could bounce. This includes the highs and lows of sideways action from prior years. Identify long-term moving average support on weekly charts. Identify monthly and yearly the highs and lows. After you have identified all support areas, determine if this support will be weak, moderate, or strong. Weak support will seldom cause problems for a falling stock and usually a resting day, at best, will form. Moderate support can cause a bounce that can take out tight stop losses and strong support can potentially wipe out a wider stop loss for a bigger loss. It is important to calculate the point gain to the lean side when selling short because bounces can occur before the support is actually touched. And do not be fooled by the falling stock that runs just beyond the support level--often a small run beyond the lowest low is just a ‘gottcha’ sell short entry for bargain hunters. This is the area where you will find the larger reversal candle patterns. Selling short is a faster-paced trading condition. It can be more lucrative with faster profits than the upside at times, but you must have plenty of experience to watch for high-risk areas in the downtrend and a strong mental attitude that allows you to cut losses quickly.
NYSE:DACEducation
by MarthaStokesCMT-TechniTrader
XRP - Likely Another Back Test Of The LowsXRP has recently show solid signs of price reversals. We have to understand that nothing goes up or down in a perfect strait line (unless a massive short squeeze, which is never sustainable) so pullbacks are normal. This has a lot to do with a BTC and until it goes into a retracement we will not see an alt season. Even though BTC could actually dip a bit further though not below 29k i don't think altcoins will set new lows. I see XRP revisiting of the lows at $0.60 area before reversing upwards. Don't get scared we will get through this together. ;) meanwhile ... buy the dip while you can (of course not a financial advise). Also breaking above the green trendline AND .702 / .786 fib. retr. lvl. and back test of it, could mean a parabolic rise eventually, but we will talk about it when we get to that. DISCLAMER : I am not a financial advisor so non of this should be taken as a financial advise. Be well. BINANCE:XRPUSDT
by CR35
1
Market Structure Tips Analyzing trends and price changes are two very important things traders focus on to gain profit. Trends allow traders to predict future prices and how they would change. Two types of trends that exist in the market today are uptrends and downtrends. Each type of trend tells a different story and has its own impact on a traders success in the market. While uptrends show a series of higher highs and higher lows, downtrends show lower highs and lower lows.
Education
by ChartDepth
AUDUSD: Approaching August 21 lows and bottom of channelAUDUSD is falling towards the 0.7100-15 area where the bottom of the channel that contains the move from October highs and the lows of last August coincide. The extreme RSI levels are sowing that a reaction is possible from these levels but a new low will be made as there is a lack of divergence... We will BUY at these levels setting the stops below 0.7070, targeting 0.7135-45 area. We will use any pullback towards resistance for sell positions.
Long
by Chartist-Trading
ADAUSD Begins the Bullish TrendImportant things to note: I bet that last retracement had you sweating LOL Fortunately everything looks fine. If you are looking at BTC the price will retrace above the new higher low we had as to not create a H&S. ADA is just retracing. I expect an upward push to price target. Price target is marked on chart in green. The major resistance is in yellow. The reversal will start slow and gain momentum with every resistance level passed. Important dates: I will update this soon when I post about the summit. So I bet you were looking at the retracement thinking we were doomed? Well, not so fast. This is all going according to plan so far. We got a bit of retracement and the price will push up to the price target I marked in green. The main resistance is still in yellow but I will update once the first one is passed. There are a lot of shorts out there, they will have to start covering creating more upward pressure. Pretty soon, the shorts will get hunted. This is why it is best not to listen to the news. The way it works is, you listen to the news, you make an emotional trade, the whales collect. That is the simplest way to explain it. LOL. I expect the price to continue upwards. You will see a lot of bullish posts in the near future from everyone. That's for sure. There isn't too much to update you all with other than to say its looking fine and the price will push upwards. It is just slow because of the reversal, similar to how the high prices slow down before a fall. This is the same thing, but in reverse. The market has a long way to go to turn around. The best thing to keep your eye on is the low at 1.91. If the price crosses that target, I will worry. There are a lot of tests that need to be completed while the bullish momentum picks up. So far, things are looking great! Thanks again for all the support! I will continue to watch ADA and update you accordingly! Stay relaxed, there is nothing to worry about at the moment. I am going to make a video soon teaching everyone my approach to charting. I will cover the entire workflow process I go through. I hope you enjoy it. Tell me what you think? This is not financial advice. DYODD.
KRAKEN:ADAUSDLong
by mysticalwalrus
40