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Okxideas

✴️ Cronos Starts To Recovery (333%- 700%+ Potential) | #OKXIdeasPlease, allow me to share with you another chart that is showing huge potential for growth; Cronos (CROUSDT). This one hit bottom November 2022, right on this date we can see a massive increase in trading volume. Volume hadn't move strongly since a year before in November 2021. We can see the same pattern as repeated across the Altcoins market. 
✔️ The initial breakout in January followed by a peak in February, then a correction that ends mid-March and now the resumption of the bullish trend... We can say that the probabilities are high for the bullish trend to resume going back to the volume signal. Today we have the highest volume in months... This is supported by a strong RSI. There are many resistance levels along the way, many targets on the way up. Here I am mapping a potential mid to long-term ranging from 333% to 700%+. This is not financial advice. Remember to do your own research, your own planning. Thanks a lot for reading. Thank you for your continued support. Namaste.
Long
by AlanSantana
8
✴️ Ethereum Weekly, Keeping It Simple | #OKXideasWe always say simple is best... If you can't explain something in a simple matter, then it is likely that you do not understand it well enough. Yesterday I shared a trade idea for Bitcoin looking at multiple timeframe. The weekly signal which revealed that Bitcoin was still bullish was the fact that it continued to trade above EMA50 as well as EMA10. Now we get into Ethereum and we can see the exact same. Weekly prices continue safely trading above EMA50 and EMA10. As long as ETHUSDT is trading above these levels, magenta and green lines on the chart, we know the bulls are ahead. This is the easiest I can make it but we can support this signal with more. The RSI is at 59, which is super strong. Notice the marked candle, "6-Mar Doji", this is a strong reversal signal and definitely points to a higher high, it supports the bullish sentiment and strong RSI. Ethereum bottomed in June 2022... Almost a year ago. We are already in a bullish trend... Corrections and retraces are a normal part of the market action, we can use them as breaks. When red/support/low we can buy and hold. When green/resistance/high we can sell and wait. Ethereum is showing potential for additional growth. This potential is only invalidated on a weekly close below EMA10, EMA50 and EMA21 (1690 - 1800). Namaste.
Long
by AlanSantana
✴️ Cardano: Look Closer, The Potential is Huge | #OKXideasLet's go back to Cardano because this is one chart, one Altcoin, one pair that looks really good... Let's focus on the bigger picture and not just the short-term. Notice on the left side of this chart, the black downtrend line... It has been broken. When a trend is over, ends, a new trend develops. As the bearish trend is over, a new bullish trend takes place. Now, a bullish trend is not just one high or some growth for a few weeks or months... A bullish trend is defined by sustained higher highs and higher lows. What this means is that we are set for growth. Once we hit bottom, the only place left to go is up. Cardano did hit bottom... We are very happy to see it recover and grow. Namaste.
Long
by AlanSantana
💥 Bullish VS Bearish Candlesticks📍Bullish and bearish candlestick patterns are technical analysis tools used by traders to identify potential market trends and reversals. Bullish patterns indicate a potential rise in the price of an asset, while bearish patterns indicate a potential decline in price. 🔷 Bullish candlestick patterns include the dragonfly doji, hammer, tweezer bottom, morning star engulfing and three white soldiers. These patterns suggest that buying pressure is increasing and that there may be a potential for a trend reversal. 🔷 Bearish candlestick patterns include the gravestone doji, inverted hammer, tweezer top three black crows and more. These patterns suggest that selling pressure is increasing and that there may be a potential for a trend reversal. 🔷When using candlestick patterns for trading, it's important to look for confluence with other signals, such as trend lines, support and resistance levels, and other technical indicators. Combining multiple signals can provide a stronger indication of potential market movements and help traders make more informed trading decisions. 🔷It's also important to note that candlestick patterns should not be relied on as the sole indicator for trading decisions, as they are not always accurate and can produce false signals. Traders should always use a combination of technical analysis tools and fundamental analysis when making trading decisions. This is why its important to create and monitor your own strategy and backtest what works and what doesn't. 👤 @AlgoBuddy 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work, please like, comment and follow ❤️
Education
by QuantVue
6
OKB analysis: expecting wave 5 🚀Hello, in this post I will share a detailed analysis of OKB. 🛠️ OKB is a utility token from OKX exchange. With it, it is possible to have discounts on trading fees and passive income in DeFi/CeFi. OKX is one of the largest CEX (Centralized Exchange). 📆 Previously on August 2, 2022, I had already analyzed this token, but in the BTC quote: As seen, the Fibonacci target of 1,618 has already been reached. Now the next target is on projection 2, copying the same height as the triangle below. 🟢 Going back to the USDT quoted chart, reducing the timeframe to 1 day, we have a symmetrical triangle. Price broke above the triangle, and performed a throwback, allowing for an entry. That said, we have a bullish bias for this asset. 🌲 So far we've analyzed the tree. Let's analyze the forest. Comparing the 1-year performance of the main exchanges plus BTC: Which shows that the token is above average.
Long
by andre_007
1
🅱️ Bitcoin Multiple (4H, Daily & Weekly) Timeframes | #OKXIdeasThe question is simple: Will Bitcoin continue lower or is the correction over? Let us see what the chart has to say on multiple timeframes. We start with BTCUSDT 4H (short-term) Notice the volume 19-Apr. High bear volume. 21-Apr lower low yet lower volume and Doji. 24-Apr lower low yet bear volume continues to decrease. The session ends in a Doji, green. So, when we see new lows being hit yet the volume starts to decrease, it means the trend is losing strength, in this case the bearish trend. The current action is happening above the 3-Apr. low (bullish). Prices moving above EMA10 and RSI moving up after hitting weak/oversold (bullish). Let's move to the daily timeframe. The correction is ultra-weak, why? There is no volume/bear volume is low. BTCUSDT is trading above 0.382 Fib. retracement short and mid-term which is a signal of strength. Yesterday's session is a Doji after a new low which is an indecision candle. Indecision after prices moved lower can mean that the market is not sure if continue lower or change. As long as Bitcoin stays above 26,650 daily the bears are weak, the probabilities favor the bulls, consolidation or the resumption of the uptrend. If the above mentioned level is compromised the correction can extend. Another bullish signals comes from the Altcoins but that is a bit too much for many so let's continue with the weekly timeframe. This is a pretty interesting chart, we will focus on the technicals. Thanks a lot for your continued support. I can come up with a million different stories and with all sorts of conclusions looking at these charts but the basics, keeping it simple, always works best. BTCUSDT trades above EMA10 weekly (26688). As long as the price stays above this level, the bulls are in full control. This is supported by a long lower wick on the current session, a strong RSI and the bigger picture that we've been tracking for many months. Conclusion Back to the initial question: Will Bitcoin continue lower or will it move up? The charts are bullish and pointing higher. We say Bitcoin goes higher unless the charts change of course. There is plenty of room/space for Bitcoin to correct, but looking at the short-term, we are more than safe above 25,000 and 26K. I can expand but this should be good for a few days... We can focus on the bigger picture next time. This trade idea is done for you! #OKXideas... Namaste.
Long
by AlanSantana
22
Bitcoin Analyze (Short Term,15-minute Time Frame,04/24/2023)🌊According to the previous analysis, Bitcoin correctly completed wave A in the zone I expected (Sniper).🔫🎯👇 It seems that Bitcoin has formed a descending channel to complete wave B, which is the structure of microwave B of wave B is a Double Three Correction(WXY) . The general structure of wave B is Zigzag(5-3-5/ABC). I expect wave B to complete near the midline of the descending channel or 🟢 support zone($ 27,260-$ 27,120) 🟢. Bitcoin Analyze ( OKX:BTCUSDT ), 15-minute time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy, this is just my Idea, and I will be glad to see your ideas in this post. Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
by pejman_zwin
23
Ethereum - Are the bears fighting back?What's up, traders! In today's breakdown, we're taking a look at some possible scenarios for Ethereum in the coming days/weeks. Let's dive right in... Ticker: ETHUSDT Date: 04/23/23 Timeframe: 1H Supply: 1920-1950 (1st red zone), 2040-2065 (2nd red zone) Demand: 1820-1850 (1st green zone), 1685-1720 (2nd green zone) Other key levels: 1880-1890 (grey zone) Commentary: Ethereum has satisfied the Bearish Scenario 1 from our analysis on 04/19/23. We noted how volume was accumulating on the downside and mentioned that a break and retest for further downside would be a great short play which did end up playing out. We have now held demand at ~1820-1850 and continue to respect the key zone ~1880-1890 as supply at the moment. This is a channel that was respected a couple weeks ago for a few days after which we rallied into the highs of ~2150. There are a few trades we could target from here: ✅ Bullish Scenario 1: you want to see price hold this ~1820-1850 demand, find strength to move upwards and possibly give us a retest of this demand zone for a possible move back into supply around ~1920-1950. This is potentially a scalp setup. ✅ Bullish Scenario 2: you want to see price hold this ~1820-1850 demand, find strength to break the key level of ~1880-1890 and possibly give us a retest of this key zone for a possible move back into supply around ~1920-1950. This will also be a potential scalp setup. ✅ Bullish Scenario 3: you want to see price rally and break supply at ~1920-1950, pull back into it and hold to turn it into demand and possibly rallying back into ~2040-2065, our next supply zone. Day or swing trade setup. 🟥 Bearish Scenario 1: you want to see price approach supply at ~1920-1950, sellers starting to accumulate and possibly catch a break and retest of this supply zone into demand at ~1820-1850 again. This will be the safer downside play - potentially a scalp. 🟥 Bearish Scenario 2: you want to see price break this ~1820-1850 demand, pull back into it and resist to turn it into supply, and find weakness again to possibly move into late March lows around ~1770 or ~1720. Day or swing trade setup.
by QuantVue
6
MASTER THE MARKET WITH CONFIDENCE & DISCIPLINEIf you asked me to distill trading down to its simplest form, I would say that it is a pattern recognition numbers game. We use market analysis to identify the patterns, define the risk, and determine when to take profits. The trade either works or it doesn't. In any case, we go on to die next trade. It's that simple, but it's certainly not easy. In fact, trading is probably the hardest thing you'll ever attempt to be successful at. That's not because it requires intellect; quite the contrary! But because the more you think you know, the less successful you'll be. Trading is hard because you have to operate in a state of not having to know, even though your analysis may turn out at times to be "perfectly" correct. To operate in a state of not having to know, you have to properly manage your expectations. To properly manage your expectations, you must realign your mental environment so that you believe without a shadow of a doubt in the five fundamental truths. Today, I am going to give you a trading exercise that will integrate these truths about the market at a functional level in your mental environment. In the process, I'll take you through the three stages of development of a trader. The first stage is the mechanical stage. In this stage, you: 1. Build the self-trust necessary to operate in an unlimited environment. 2. Learn to flawlessly execute a trading system. 3. Train your mind to think in probabilities (the five fundamental truths). 4. Create a strong, unshakeable belief in your consistency as a trader Once you have completed this first stage, you can then advance to the subjective stage of trading. In this stage, you use anything you have ever learned about the nature of market movement to do whatever it is you want to do. There's a lot of freedom in this stage, so you will have to learn how to monitor your susceptibility to make the kind of trading errors that are the result of any unresolved self-valuation issues I referred to in the last chapter. The third stage is the intuitive stage. Trading intuitively is the most advanced stage of development. It is the trading equivalent of earning a black belt in the martial arts. The difference is that you can't try to be intuitive, because intuition is spontaneous. It doesn't come from what we know at a rational level. The rational part of our mind seems to be inherently mistrustful of information received from a source that it doesn't understand. Sensing that something is about to happen is a form of knowing that is very different from anything we know rationally. I've worked with many traders who frequently had a very strong intuitive sense of what was going to happen next, only to be confronted with the rational part of themselves that consistently, argued for another course of action. Of course, if they had followed their intuition, they would have experienced a very satisfying outcome. Instead, what they ended up with was usually very unsatisfactory, especially when compared with what they otherwise perceived as possible. The only way I know of that you can try to be intuitive is to work at setting up a state of mind most conducive to receiving and acting on your intuitive impulses. The mechanical stage of trading is specifically designed to build the kind of trading skills (trust,confidence, and thinking in probabilities) that will virtually compel you to create consistent results. I define consistent results as a steadily rising equity curve with only minor draw downs that are the natural consequence of edges that didn't work. Other than finding a pattern that puts the odds of a winning trade in your favor, achieving a steadily rising equity curve is a function of systematically eliminating any susceptibility you may have to making the kind of fear, euphoric or self-valuation based trading errors I have described throughout this book. Eliminating the errors and expanding your sense of self-valuation will require the acquisition of skills that are all psychological in nature. The skills are psychological because each one, in its purest form, is simply a belief. Remember that the beliefs we operate out of will determine our state of mind and shape our experiences in ways that constantly reinforce what we already believe to be true. How truthful a belief is (relative to the environmental conditions) can be determined by how well it serves us; that is, the degree to which it helps us satisfy our objectives. If producing consistent results is your primary objective as a trader, then creating a belief (a conscious, energized concept that resists change and demands expression) that "I am a consistently successful trader" will act as a primaiy source of energy that will manage your perceptions, interpretations, expectations, and actions in ways that satisfy the belief and, consequently, the objective. Creating a dominant belief that "I am a consistently successful trader" requires adherence to several principles of consistent success. Some of these principles will undoubtedly be in direct conflict with some of the beliefs you've already acquired about trading. If this is the case, then what you have is a classic example of beliefs that are in direct conflict with desire. The energy dynamic here is no different from what it was for the boy who wanted to be like the other children who were not afraid to play with dogs. He desired to express himself in a way that he found, at least initially, virtually impossible. To satisfy his desire, he had to step into an active process of transformation. His technique was simple: He tried as hard as he could to stay focused on what he was trying to accomplish and, little by little, he de-activated the conflicting belief and strengthened the belief that was consistent with his desire. At some point, if that is your desire, then you will have to step into the process of transforming yourself into a consistent winner. When it comes to personal transformation, the most important ingredients are your willingness to change, the clarity of your intent, and the strength of your desire. Ultimately, for this process to work, you must choose consistency over eveiy other reason or justification you have for trading. If all of these ingredients are sufficiently present, then regardless of the internal obstacles you find yourself up against, what you desire will eventually prevail. The first step in the process of creating consistency is to start noticing what you're thinking, saying, and doing. Why? Because everything we think, say, or do as a trader contributes to and, therefore, reinforces some belief in our mental system. Because the process of becoming consistent is psychological in nature, it shouldn't come as a surprise that you'll have to start paying attention to your various psychological processes. The idea is eventually to learn to become an objective observer of your own thoughts, words, and deeds. Your first line of defense against committing a trading error is to catch yourself thinking about it. Of course, the last line of defense is to catch yourself in the act. If you don't commit yourself to becoming an observer to these processes, your realizations will always come after the experience, usually when you are in a state of deep regret and frustration.Observing yourself objectively implies doing it without judging about yourself. This might not be so easy for some of you to do considering the harsh, judgmental treatment you may have received from other people throughout your life. As a result, one quickly learns to associate any mistake with emotional pain. No one likes to be in a state of emotional pain, so we typically avoid acknowledging what we have learned to define as a mistake for as long as possible. Not confronting mistakes in our everyday lives usually doesn't have the same disastrous consequences it can have if we avoid confronting our mistakes as traders. For example, when I am working with floor traders, the analogy I use to illustrate how precarious a situation they are in is to ask them to imagine themselves walking across a bridge over the Grand Canyon. The width of the bridge is directly related to the number of contracts they trade. So, for example, for a one-contract trader the bridge is very wide, say 20 feet. A bridge 20 feet wide allows you a great deal of tolerance for error, so you don't have to be inordinately careful or focused on each step you take. Still, if you do happen to stumble and trip over the edge, the drop to the canyon floor is one mile. I don't know how many people would walk across a narrow bridge with no guardrails, where the ground is a mile down, but my guess is relatively few. Similarly, few people will take the kinds of risks associated with trading on the floor of the futures exchanges. Certainly a one-contract floor trader can do a great deal of damage to himself, not unlike falling off a mile-high bridge. But a one-contract trader also can give himself a wide tolerance for errors, miscalculations, or unusually violent market moves where he could find himself on the wrong side. 1. all our beliefs are in absolute harmony with our desires, and 2. all our beliefs are structured in such a way that they are completely consistent with what works from the environment's perspective. Obviously, if our beliefs are not consistent with what works from the environments perspective, the potential for making a mistake is high, if not inevitable. We won't be able to perceive the appropriate set of steps to our objective. Worse, we won't be able to perceive that what we want may not be available, or available in the quantity we desire or at the time when we want it. On the other hand, mistakes that are the result of beliefs that are in conflict with our objectives aren't always apparent or obvious. We know they will act as opposing forces, expressing their versions of the truth on our consciousness, and they can do that in many ways. The most difficult to detect is a distracting thought that causes a momentary lapse in focus or concentration. On the surface this may not sound significant. But, as in the analogy of the bridge over the canyon, when there's a lot at stake, even a slightly diminished capacity to stay focused can result in an error of disastrous proportions. This principle applies whether it's trading, sporting events, or computer programming. When our intent is clear and undiminished by any opposing energy, then our capacity to stay focused is greater, and the more likely it is that we will accomplish our objective. You have to be able to monitor yourself to some degree, and that will be difficult to do if you have the potential to experience emotional pain if and when you find yourself in the process of making an error. If this potential exists, you have two choices: 1. You can work on acquiring a new set of positively charged beliefs about what it means to make a mistake, along with de-activating any negatively charged beliefs that would argue otherwise or cause you to think less of yourself for making a mistake. 2. If you find this first choice undesirable, you can compensate for the potential to make errors by the way you set up your trading regime.
Education
by moonypto
Bitcoin was Sandwiched & Black Crows took the Sandwich🥪Hi, everyone👋 (Reading time less than 3 minutes⏰). Today I want to use one of the simplest and, of course, the most widely used technical analysis tools to analyze Bitcoin, the name of this analysis tool is " Candlestick Patterns ".😉 In general, candlestick patterns are used to enter and exit the trade and to understand the price trend in the chart. And the more these patterns are formed in higher time frames, the more valid they are. ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ➕Bitcoin was moving in an ascending channel for about 24 days but was broken down by a 🥪 Bearish Stick Sandwich Candlestick Pattern 🥪 on the daily time frame of this ascending channel. ➕Also, the last 3 daily candles together formed the ⚫️ Three Crows Candlestick Pattern ⚫️, which shows us a reversal pattern as well as a continuation of the downward trend (The black crow has been a sign of sadness and bad events since ancient times). ➕In addition, if we look at the RSI indicator , we can see that the 🗻 Double Top pattern 🗻 has worked well and has broken the 50% line downwards. We can expect the RSI to fall to the 30% line at least.👇 🔔Another reason that shows that Bitcoin is likely to break the 🟢 support zone($ 26,890-$ 26,430) 🟢 is the duration of Bitcoin's rise and fall. If you look carefully at the chart, the number of days that Bitcoin needed to grow was 18 days, but Bitcoin lost its growth in about 7 days and fell. This shows that the strength of the sellers in the market is more than the buyers and most likely the 🟢support zone($ 26,890-$ 26,430)🟢 will be broken and Bitcoin will go to the 🟢 heavy support zone($ 25,300-$ 23,890) 🟢(❗️ a very sensitive and decisive zone for Bitcoin ❗️). Bitcoin Analyze ( OKX:BTCUSDT ), Daily time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy, this is just my Idea, and I will be glad to see your ideas in this post. Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Short
by pejman_zwin
26
Is the Head and Shoulders pattern Trigger for Bitcoin to Fall❗️❓Bitcoin seems to have broken the ascending and descending channels & 🟢support zone($ 29,200-$ 28,730) 🟢 by the Head and Shoulders pattern . Of course, the decline in the price of Bitcoin was expected by me based on my previous posts in the daily time frame: (I suggest you view my previous posts). About the Head and Shoulders pattern, there are several points that add to the validity of this pattern: 1- If the neckline slope is negative. 2- The slope of the right shoulder towards the neckline should be greater than the slope of the left shoulder. 3- The volume of the right shoulder is greater than the volume of the left shoulder. ✅ All of the above factor into this Head and Shoulders pattern created in Bitcoin. Bitcoin seems to have broken the lower lines of the ascending and descending channel and the neckline of the Head and Shoulders pattern (now BTC is pulling back) and it is expected that at least Bitcoin will fall to the Price Reversal Zone (PRZ) and 🔵CME GAP($ 28,720-$ 28,265)🔵 and react to the important support line. Bitcoin Analyze ( OKX:BTCUSDT ), 4-hoour time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy, this is just my Idea, and I will be glad to see your ideas in this post. Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
by pejman_zwin
22
Bitcoin is ready to break the Descending channel(Short term)🚀Bitcoin has been moving in a Descending Channel for about 3 days. The formation of the Inverse Head and Shoulders pattern near the 🟢support zone($ 27,820-$ 27,700)🟢can be a good sign of breaking the upper line of the descending channel. I expect Bitcoin to start growing after breaking the upper line of the descending channel. The increase of Bitcoin can be as vast as the descending channel and up to the 🔴resistance zone($ 29,200-$ 28,730) 🔴. Bitcoin Analyze ( OKX:BTCUSDT ), 15-minute time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy, this is just my Idea, and I will be glad to see your ideas in this post. Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Long
by pejman_zwin
24
Bitcoin - Do The Bulls Stand A Chance?What's up traders! In today's breakdown, we're taking a look at some possible scenarios for Bitcoin in the coming days / weeks. Let's dive right in... Ticker: BTCUSD Date: 04/21/23 Timeframe: 1H Supply: 28525-28800 (1st red zone), 30280-30600 (2nd red zone) Demand: 27560-27830 (green zone) Commentary: It seems like we finally got the break of the bullish momentum in the crypto market. For any upside continuation, this could be a much needed pullback for a healthier move back into 30k+ for bitcoin. Until we break strong demand at 25000, we can count on bitcoin resuming its recovery so any significant bearish bias should be avoided. That being said, we need to be cautious of supply zones above if we are bullish. The good thing is that this pullback has identified key supply zones for us that we need to be cautious of, making our long plays easier. We are currently approaching / already validating demand at ~27560-27830. There are a few plays we could target from here. ✅ Bullish Scenario 1: you want to see price hold this ~27560-27830 demand, find strength to move upwards and possibly give us a retest of this demand zone for a possible move back into supply around ~28525-28800. This will be the safer upside play. ✅ Bullish Scenario 2: you want to see price hold this ~27560-27830 demand, find strength, have volume build up to break the supply zone around ~28525-28800, and then retest the ~28525-28800 zone to possibly move into the highs from earlier this week and ~30280 supply. 🟥 Bearish Scenario 1: you want to see price approach supply from a couple weeks ago around ~28525-28800, sellers starting to accumulate and possibly catch a break and retest of this supply zone into demand at ~27560-27830 again. This will be the safer downside play. 🟥 Bearish Scenario 2: you want to see price break this ~27560-27830 demand, retest, find weakness again and possibly move into late March lows around ~27000.
by QuantVue
2
📊 The Doji Candle Pattern📍What is the Doji Candlestick Pattern? The Doji Candlestick Pattern refers to a chart pattern consisting of a single candle. This pattern appears when the opening and closing prices of a candle are nearly the same or identical, resulting in a small-bodied candle with upper and lower wicks resembling a "+". Different variations of Doji patterns exist, with unique names like the Long-legged Doji, Gravestone Doji, Dragonfly Doji, and Doji star candlestick pattern. Regardless of the type, all Doji patterns provide traders with four critical data points: the open, close, high, and low prices for the given period. Doji patterns can occur on any timeframe and in any market, making them the foundation of many trading strategies 🔹Long-legged Doji The Long-legged Doji pattern has an elongated upper and lower wick and a small body The Long-legged Doji can be interpreted in several ways and works best when viewed in context with price action. It is a potential price reversal signal in a defined up or downtrend. If it occurs in a flat market, it suggests further consolidation. 🔹Dragonfly Doji The Dragonfly Doji sets up when the candle’s open, close, and high is approximately the same. Visually, the Dragonfly looks like a “T,” as depicted in the image below. This formation suggests that heavy selling was present, but the market has rebounded. As a general rule, the Dragonfly is considered a reversal indicator. A retracement in price is expected when it occurs at the top of a bullish trend. 🔹Gravestone Doji The Gravestone Doji pattern is the polar opposite of the Dragonfly; it appears as an inverted “T” and signals that heavy buying has given way to selling. The Gravestone Doji is a reversal chart pattern that signals downward or upward pressure may be on the way. The Gravestone suggests that a reversal is possible when observed within a defined uptrend. Within a downtrend, bullish price action may be forthcoming. 🔸Reversals Doji candlesticks can be a great way to get in or out of the market in trending markets. The Gravestone and Dragonfly are ideal for reversal strategies as they indicate forthcoming upward and downward movements in price. 🔸Breakouts One of the lowest-risk ways to utilize Dojis in the FX market is to trade breakouts. A breakout is a sudden directional move in price. Dojis often precede breakouts, as they are a signal of indecisiveness. As soon as the market makes up its mind, a significant move may be in the offing. 👤 @AlgoBuddy 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work, please like, comment and follow ❤️
Education
by QuantVue
2
Supply and Demand 101 📚 OKXIDEAS📌 1- Introduction To understand trading supply and demand, let's consider a simplified example. Imagine I typically purchase a specific brand of rice for $ 5 per bag. However, one day, while shopping, I discover that the price of this rice bag has increased to $ 7. While I could afford the extra $ 2, I'm accustomed to paying $ 5 and prefer not to pay more if possible. So, I begin to search for an alternative brand of rice that costs $ 5. This behavior is common among consumers, and many others would likely do the same thing in this situation. As time passes, the rice company notices that sales are decreasing, prompting them to reduce prices to move their inventory. Eventually, the bag of rice is back to HKEX:5 , and consumers begin purchasing it again. In this example, HKEX:5 represents demand. The same principle applies to supply and is relevant in trading, where instruments such as BTC, APPL, USD are involved. 📌 2- Supply and Demand Supply and demand is a trading and price action concept that analyses how financial markets move and how buyers and sellers drive the price. On every price chart, there are certain price points where you can observe a sudden shift between the buyers and the sellers. Those areas are usually characterized by strong and immediate turning points, or an explosive breakout. We as traders call those areas supply and demand zones. The fundamental concept is to identify points on a chart where the price has experienced a significant increase or decrease. A demand zone is marked when the price experiences a strong advance, and a supply zone is marked when the market has undergone a sharp decline. This principle is based on the mass psychology behind supply and demand, as exemplified by the bag of rice analogy. For instance, a trader may observe a significant bullish candle, but they may have missed out on the big move, causing them distress. Consequently, they are unlikely to buy now, believing the price is too high. Instead, they may wait for the price to retest the area where the aggressive upward movement began to identify buying opportunities where they perceive the price to be reasonable. As a result, this area becomes a demand zone as many traders are awaiting its retest to purchase. 📌 3- There are four key areas of interest on the charts to look for: The drop base rally, or ‘DBR’. The rally base drop, or ‘RBD’. The rally base rally, or ‘RBR’. The drop base drop, or ‘DBD’. A 'DBR' demand zone is typically indicative of a market bottom. Initially, the price is trending downwards until it begins to bottom out or base, then reverses its course to the upside. Similarly, an 'RBD' supply zone is formed in the same way as the 'DBR' formation, but instead of a market bottom, this pattern creates a market top before reversing to the downside. A 'RBR' demand zone typically emerges during an uptrend. The price starts with an upward movement, followed by a consolidation phase or base, and finally, a continuation move to the upside. On the other hand, a 'DBD' supply zone is essentially the same formation as a 'RBR' area but occurs within a downtrend. The price begins with a decline, enters into a consolidation phase, and is followed by a continuation move to the downside. Identifying these demand and supply zones can help traders in determining potential trading opportunities. Now that we have a basic idea of what to look for, here’s how the noted zones above look on a live chart. OKX:ETHUSDT OKXIDEAS 📌 4- Characteristics Of a Strong Zone a- Momentum from the zone OKX:OKBUSDT OKXIDEAS One of the fundamental rules to trading supply and demand is “The stronger the move away from a zone the higher the chance the market has of having a strong move away when it eventually returns” b- Time Spent Away From Zone OKX:OKBUSDT OKXIDEAS It doesn't seem logical that an old zone still contains orders to buy or sell within it. Let's consider a supply zone that is four years old and the market has not returned to it yet. Is it plausible that traders still have a pending order to sell around it? The strength of a supply or demand zone is defined by the amount of time the market has spent away from it. The more quickly the market returns to a supply or demand zone, the higher the probability of a successful trade. Usually, older zones do not work out frequently. Therefore, it is better to concentrate only on the recently created zones. In the above example, the last demand zone is still fresh, the more time passes, the weaker it becomes. 📌 5- Difference Between Supply & Demand and Support & Resistance OKX:XRPUSDT OKXIDEAS The concept of support and resistance is based on the idea that a line or area that has been tested multiple times in the past and prevented the price from moving beyond it is considered significant. On the other hand, when it comes to supply and demand, we are interested in finding areas with a strong, recent, and untested movement, rather than areas that have been repeatedly tested and held strong. Sometimes, just like the above XRP example, it happens that we have got a demand zone (blue) around a support zone (red) but it doesn't mean that they are the same. 📌 6- How to trade Supply and Demand There are plenty of methods one can use to enhance the probability of a zone holding firm. Each individual is different and will, therefore, rarely look at the charts the same way. Some traders, like myself, prefer to confirm these zones using other technical tools, while others prefer to simply trade the zones naked. OKX:XRPUSDT OKXIDEAS As per my trading style, I only locate supply/demand zones on higher timeframes. And as price approaches the supply/demand, I zoom in to lower timeframes to look for sell/buy setups for extra confirmation. 7- Conclusion Traders, especially amateurs, are usually fascinated by supply and demand because they want to catch the exact price tops or bottoms. However, supply and demand is not foolproof and definitely not the Holy Grail. Supply and demand zones are not a stand-alone strategy but act as extra confluence for an existing potential setup. Remember: Higher-timeframe areas are more reliable. Trading the first time back to a zone is the highest probability trading setup. I have shared my personal thoughts about Supply and Demand, however it is your job as a trader to find what works for you. Let me know if you find this post useful, and what which topic would you like me to cover next 🙏 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Richard Disclaimer: The information provided is for educational and informational purposes only and should not be considered as financial advice. It is important to do your own research and make informed decisions before entering any trades. Past performance is not indicative of future results. Always be aware of the potential for losses, and never risk more than you can afford to lose.
Education
by TheSignalyst
78
Bitcoin is completing a pullback and Falling again😉(Short term)Bitcoin reacted to the bottom of the descending channel and the 🟢heavy support zone($ 29,200-$ 28,730) 🟢, and the bottom of the ascending channel in the 4-hour time frame after falling from the Top of the descending channel with the Double Top pattern, but due to the momentum and volume of the breakout candle, I expect Bitcoin after That the pullback to the lost support zone, which is now the resistance zone, will make a renewed 👊attack👊to break the support zone and the bottom line of the ascending channel. If you want to see the 4-hour time frame Bitcoin analysis, visit the post below.👇 Bitcoin Analyze ( OKX:BTCUSDT ), 30-minute time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy, this is just my Idea, and I will be glad to see your ideas in this post. Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
by pejman_zwin
6
ETH - Who Wins This Battle? 🗡️What's up traders! In today's breakdown, we're taking a look at our favorite #2 crypto in Ethereum. Let's dive right in... Ticker: ETHUSD Date: 04/19/23 Timeframe: 1H Supply: 2044-2068 (1st red zone), 2116-2148 (2nd red zone) Demand: 1924-1946 (1st green zone), 1826-1860 (2nd green zone) Commentary: Ethereum has created a big gap between these demand and supply levels. With Ethereum now pulled back down, this creates an opportunity for a healthier move upwards if we are to continue this rally. We have just held demand at ~1920 earlier this morning and are attempting to hold it again. This level is a previous double top from a couple weeks and a week ago so it is an important level to look out for. We should not be shorting Ethereum until this level is broken to the downside. With that being said, volume is currently accumulating on the downside so a break and retest of this level for further downside could well be a good play. ✅ Bullish Scenario 1: you want to see price hold this ~1920 demand, find strength to move upwards and possibly give us a retest of this demand zone for a possible move back into supply around 2050. This will be the safer upside play. ✅ Bullish Scenario 2: you want to see price hold this ~1920 demand, find strength, have volume build up to break the supply zone around ~2050, and then retest the ~2050 zone to possibly move into last week's high around ~2130. 🟥 Bearish Scenario 1: you want to see price break this ~1920 demand, retest, find weakness again and possibly move into last week's lows around ~1860. 🟥 Bearish Scenario 2: you want to see price find weakness again at ~2050 supply zone after holding this ~1920 demand for a move back into the ~1920 demand zone.
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by QuantVue
4