BTCUSDTThis is an astrological update, this ego is familiar to me and I think we are moving towards higher levels from now on, so we closed the previous positions in the hand and entered a long trade with a stop of 28800.
Okxideas
Bitcoin runs Descending Channel within an Ascending Channel!!!▶️Bitcoin reacted well to the 🟢support zone($ 29,200-$ 28,730) 🟢 over the past day, although I expected Bitcoin to penetrate further into this zone.
With today's move, Bitcoin seems to form a descending channel within the main ascending channel.
Also, currently, Bitcoin is moving near the 🔴resistance zone($ 30,620-$ 30,450)🔴 and the cross of the resistance lines; since Bitcoin is forming a double top pattern in the 1-hour time frame, I expect Bitcoin to at least fall to the 🟡Price Reversal Zone(PRZ)🟡and the middle line of the descending channel and the 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.
BTCUSDT Hello, when the price crosses the level of 31700, I expect to see a higher column up to 40000, but in my opinion, this is where we should have a better correction to 23000, and anyway, the general and longer view is bullish, and I also agree, but I will not forget. that we have good reforms in the future.... Anyway, the price goes in any direction, whether it is high or low, we have specific entry points for both sides.
#okxideas
📊 Smart Money Concepts: A Market Structure Showcase 📍What Is Smart Money?
Smart money is the capital that is being controlled by institutional investors, market mavens, central banks, funds, and other financial professionals. Smart money was originally a gambling term that referred to the wagers made by gamblers with a track record of success.
📍Principles of Smart Money Market Structure in Order Block Trading
Price moves within a structural of support and resistance. A breakout of the structural of support or resistance will lead to price movement in the next area of the support or resistance. When the price broke market structure was high the low point becomes a strong low. Strong Low is The Low that caused Manipulation and Break Structure (resistance).
Fresh high in an uptrend and fresh low in a downtrend. Weak Low/High is the Low that fails To Break Structure
🔹For every strong LOW, there is a weak High
🔹For every strong High, there is a weak Low
After a zone is tested many times or during a strong move, Supply and Demand levels eventually break. Due to the remaining orders being triggered and gradually removed, or an overwhelming number of orders in the opposite direction breaking the level.
👤 @AlgoBuddy
📅 Daily Ideas about market update, psychology & indicators
❤️ If you appreciate our work, please like, comment and follow ❤️
Bitcoin breaks the support zone and the middle line👇Hi everyone👋
Bitcoin is moving in an ascending channel.
Bitcoin managed to break the 🟢support zone($ 29,880-$ 29,660)🟢 and the middle line of the ascending channel by the candle 4 hours ago. (The volume of the breakout candle was acceptable).
Bitcoin's next destination after the pullback to the middle line and support zone will be the next 🟢 support zone($ 28,900-$ 28,600) 🟢.
You may ask yourself whether Bitcoin will be able to break the ascending channel downwards or not.
🔔To answer this question, I got help from 3 indicators in the daily time frame :
The MACD indicator shows Regular Divergence(RD- ) .👇
The RSI indicator shows Regular Divergence(RD-) and is forming a Double Top pattern , which means that if the neckline breaks, the probability that the ascending channel of Bitcoin will break downwards is very high.👇
The Stochastic RSI indicator shows us the end of the movement well.👇
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.
Ending Bitcoin's Pullback by Expanding Flat(Short term)!!!😏First, I must say that in order to have a better understanding of this post, I suggest you look at the following post in the 4-hour time frame.👍👇
Bitcoin's pullback to the broken 🟢support zone($ 29,880-$ 29,660)🟢 seems to follow the corrective structure of the Expanding Flat (3-3-5/ABC/most common), so that the end of wave C is at 🟡 Price Reversal Zone(PRZ) 🟡.
I expect Bitcoin to fall at least until the next 🟢 support zone($ 28,900-$ 28,600) 🟢.
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.
ETHUSDT for today during NYSE OpenNot gonna put a long "make me look smart" idea.
This is where I am looking for OKX:ETHUSDT to move within the next few hours, pre and post NYSE Open
Let's make money!
⚠️ Risk Management Examples Showcase📍What Is the Risk/Reward Ratio?
The risk/reward ratio marks the prospective reward an investor can earn for every dollar they risk on an investment. Many investors use risk/reward ratios to compare the expected returns of an investment with the amount of risk they must undertake to earn these returns. A lower risk/return ratio is often preferable as it signals less risk for an equivalent potential gain.
📍Consider the showcased example:
An investment with a risk-reward ratio of 1:3 suggests that an investor is willing to risk $100, for the prospect of earning $300. Alternatively, a risk/reward ratio of 1:4 signals that an investor should expect to invest $100, for the prospect of earning $300 on their investment.
Traders often use this approach to plan which trades to take, and the ratio is calculated by dividing the amount a trader stands to lose if the price of an asset moves in an unexpected direction (the risk) by the amount of profit the trader expects to have made when the position is closed (the reward).
It is very important to calculate your R:R before entering a trade. Sometimes the trade might not be worth the amount you're risking vs the reward you can get.
👤 @AlgoBuddy
📅 Daily Ideas about market update, psychology & indicators
❤️ If you appreciate our work, please like, comment and follow ❤️
Ethereum and Head and Shoulders Pattern❗️❗️❗️(Short term)Ethereum managed to form a Head and Shoulders Pattern between two support and resistance zones, so that the Head part is in the 🔴resistance zone($ 2158-$ 2123)🔴.
I expect Ethereum to at least fall to the bottom of the 🟢support zone($ 2041.40- $ 2017.68 )🟢 with the Head and Shoulders pattern.
If you want to know my Ethereum roadmap, I suggest you see the following post.👇
Ethereum Analyze ( OKX:ETHUSDT ), 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.
Bitcoin Analyze (Short Term,15-minute Time Frame,04/15/2023)🌊
Bitcoin has been able to go through 5 main waves at $ 31,043, and now it seems that you have started corrective waves.
Bitcoin is currently moving near the resistance line and 🟡Price Reversal Zone(PRZ)🟡.
I expect Bitcoin to finish microwave 4 near the PRZ and microwave 5 to continue at least to the 🟢support zone($ 29,880- $ 29,630)🟢 and support line.
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.
Bitcoin is starting to fall🌊(Short term/15-minute)!!!First, I must say that if you are looking for a better understanding of this post, I recommend you to look at the following post for a few seconds.👇😉
It seems that with the break of the 🟢 support zone($ 30,326-$ 30,260) 🟢, Bitcoin will enter microwave 3 from the main wave 5, and I expect this fall to continue until the 🟢 support zone($ 29,880- $ 29,630) 🟢.
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.
OKX Coin Weekly ChartHello traders,
OKX is a cryptocurrency exchange the third biggest cryptocurrency exchange by trading volume serving over 20 million people globally.
Currently cryptocurrency is just going up everyone try to enter in the market and make some profits but i am pretty much sure that one drop is coming in all cryptocurrency before move up.
OKX is setting up for a potential 100% gain, watch price to drop and look for a buy opportunity around 25 to 19 price levels.
This is just analysis, not the exact trade or any kind of signal that proven with wining or losing % so be sure trade with your own according strategy do not depend on my analysis.
I wish you good luck and good trading.
The Process of Creating StrategyHello traders,
In this post i am going to show that how we can create and develop the trading strategy that works.
Now the first step we need to do is just search and find the any trading method that suitable for us for example that would be like elliott wave, ict concept, VSA, just using indicators and maybe you can also create your own method and backtest it. when you learned the method now its time to create your trading rules every strategy has own different rules like what is your risk to reward ratio? what is your trade management plan? either you manage your trade or just take the trade and come back after its hit TP or SL, how much is your daily limit means how much trades you will be taking in a day or in a week if you want to become a swing trader depends on you, what is your risk per trade? can you will be cutting the risk to half or just use fixed risk after lose trade? what is your daily limit of losing? can you hold trade overnight or over weekend? what is your trading timeframe? what is your trading sessions? etc...
These all kind of rules you will be require to create for yourself they might be different rules depends on your strategy method now we learned the method and created the rule move forward to the next step is open the live demo trading account and trade with your strategy and apply the rules don't break the rules that you created trade at least 30 days and journal your data your taking trades after 30 days check the journal you will see your data for example in your rules you set 1/2 risk reward ratio so you need to have around 40% winning ratio check the journal check the results did you have a 40% winning ratio if the answer is yes then good to go i am sure that you know what to do next but if you failed and your winning ratio is below 40% now analyze your journal data the trades you taken you will see some of bad trades that you don't wanted to trade again just avoid those trades next time and try again the process for the next 30 days. repeat the process one day you will be profitable and consistent but if you not then try again again learn from your mistakes and don't do that mistakes again.
When yo have been profitable this is the time you wanna enter in the market open the real live trading account and start trading with your strategy and follow the rules that you created for yourself run the process and always remember trading is not quick rish scheme you need to have a lot of patience, trading is a long run game like marathon race and its required patience. some of my advice is don't try to break the rules, don't depend on one trade, some times market will give you some results that you don't want from it but be patient and be consistent with your strategy with your rules, you will be facing drawdowns but that is the learning process you will learn a lot from the drawdown so with the time you will be better consistent and be profitable just don't leave the process too soon and believe in yourself and try again again and again, trading is a very beautiful and also the easiest thing to live life but firstly in the starting it required from us to pass the test. trading is a very easiest thing but also a very hardest thing. i hope you find this post useful, i wish you good luck and good trading.
If you like the post, boost my work with like comments and share thanks!
The Last Drop of ETHHello traders,
A one more drop is coming before creating a new high, ETH is setting up for a drop its showing me a lot of weakness on the weekly timeframe.
i am waiting for ethereum to drop and buy from the low price as much as possible, the price area that i am looking for is around 500 it will take time not a few days or few weeks analysis so patience is the key to succeed.
In the weekly timeframe price is formed head and shoulder pattern now price is going to retest that and drop from there, the area that i mentioned in the chart is around 500 to buy the ethereum for the long run, now ethereum is just going up and every one is wanted to enter in the market and try to make some profits but i am pretty much sure that this is going to be drop before creating a new high of all time and i am just basically waiting for that.
This is my analysis and view about ethereum.
This is just analysis, not the exact trade or any kind of signal that proven with wining or losing % so be sure trade with your own according strategy do not depend on my analysis.
I wish you good luck in trading.
The Two Types of Risk Management PlanHello traders,
1) Fixed Risk
Calculates position size for next trade as a percentage of account depend on how much risk you willing to take every time every trade you taking you need to use fixed risk for every trade like for example 1% risk per trade so in this type of risk management plan we should require 100 losing trades in a row to blowing out our account a lot of people just using this simple method and this is very easy and understandable.
2) Cutting the Risk :
In this method cutting the risk we just normally trade 1% risk per trade but if we lose that trade so we just cut the risk to half for example if i trade with 1% risk and i lose so now the next second trade which i am taking i will be using 0.5% risk in that trade if i lose then i will be just keep using the same risk 0.5% some traders are are keep reducing the risk size like they come all the way to to 0.25% maybe they work for it but in our scenario if we keep losing we will be not reducing more than 0.5% risk per trade and when win comes then after our winning trade we will be back to the normal risk which is 1% risk per trade and keep trading with 1% risk per trade so short summary is if we lose cut the risk to half if we when if we win back to the normal risk if we win again stay with same normal risk but if lose then reduce the risk to half.
The reason behind that is in the fixed risk you have 100 traders to blowing out your account means 100 chances but in cutting the risk now we just calculate if we lose 100 trades in a row like fixed risk we would not blow out our account,, let's say we take our first trade and we lose now we are in -1% then another trade we will be taking with 0.5% per trade risk so here is 0.5% × 100 trades = 50 means if we continue to lose in a row after 100 trades we will be facing -50 draw down, so cutting the risk to half after lose trade is the safest method who wants to play safe and more chances to survive in the market.
I wish you good luck and good trading.
If you like the post, support my work with like comments and share thanks!
ETHUSDT - 3 price points that it will go to.
OKX:ETHUSDT is at a daily resistance level
Move 1: Price rejects resistance, moves down to 1560 to retest support zone
Move 2: Price rejects resistance, moves down to 1769 to retest minor support before bouncing back up. Targeted TP at 2160
Move 3: Price breaks resistance to 1990 (Week resistance), retrace to 1933 before making its way up to final TP at 2160/
Entry Tf: 1 hour
Entry style: Breakout with confirmation, or Breakout during volume period, or Breakout with news
Enter after price moves. Don't predict.
BTC acceptance in the 2021 bull market rangeBTC is finding acceptance in the 2021 bull market range.
If we are lucky to get a re-test of the RL at low 29k’s, without closing below, it would be a great LONG signal targeting range quarters at 38k.
Next untapped resistance to the upside is the daily at $31371, above that there is pretty much thin air to 40k ish
📊The Effects of Volume Cheatsheet📍 In trading, volume refers to the number of shares or contracts that are traded within a specific period of time. It is a key technical indicator used by traders and investors to analyze the strength and direction of price movements in the financial markets.
The volume of a security can be used to confirm trends, indicate potential reversals, and identify areas of support and resistance. For example, a sudden increase in trading volume for a particular stock may suggest that a significant news event has occurred or that there is an increase in investor interest. On the other hand, a decrease in volume may indicate that investors are losing interest or that a trend is weakening.
Volume is important in trading because it provides information about market activity and helps traders make informed decisions. By analyzing trading volume along with other technical indicators such as moving averages and price patterns, traders can gain insights into market trends and make more accurate predictions about future price movements.
💥Key Takeaway:
When prices are rising or falling with high volume , it suggests that there is strong participation in the market and that the price movement is likely to continue in that direction . Conversely, when prices are rising or falling with low volume, it may indicate that there is not enough market participation to sustain the price movement and that a reversal could occur.
👤 @AlgoBuddy
📅 Daily Ideas about market update, psychology & indicators
❤️ If you appreciate our work, please like, comment and follow ❤️
Patience in Trading Hello traders,
Patience in trading is ability to wait to take the right action, if you have not enough patience you will have bad trades bad decisions and cause you to take action too soon.
3 things you should avoid if you want to become a better trader and improve your patience in trading.
1) Don't Rush :
Market is there not going anywhere so don't need to rush in bad trades stick to your best trade setups and always looking for an opportunity don't rush into normal trades.
So don't need to rush just relax and take things step by step, enjoy the journey of your trading.
''If you need to hurry, you are already too late''
2) Over Confident :
Over confident is a very worse thing especially in trading when someone overestimates their own skill and knowledge which can lead to them making mistakes.
There are some types of over confident like wishful thinking, over ranking, and illusion of control etc...
These all of types over confident can lead to big losses in trading.
Some of things that you can do to overcome your over confidence in trading is :
> Don't believe too much in your skills
> Always use stop loss
> Don't thinking just only for today
> Create your trading rules and don't break stick to it
> Always stay in the middle line don't go to the extreme which cause you over confident and don't go to the slight which cause you depression.
''We can never reach a stage where we can say, i know everything and i have nothing more left to learn''
3) Believe :
Believe in yourself if you don't have enough believe in your trading system or any kind of decisions you take in trading you can lead to big losses like comes in fear and try to close running trades and don't have enough believe in your taken trades.
Try to believe in yourself, try to believe in your decisions, try to believe in your trading system and be patient with your taken steps and wait for the outcome either it will bad or good doesn't matter just continue the process and learn from your previous mistakes and be better next time.
''Trust yourself, you know more than you think you do''
These are 3 things that you should need to do for patience in trading.
If you have any advice to be patient in trading please let me know in the comments.
I wish you good luck and good trading.
If you like the post, please support my work with like, thank you!
At least 10% growth of XRP by Inverse H&S Pattern🚀Since XRP is one of the cryptocurrencies that has the lowest correlation to Bitcoin, it has always been attractive to me as a trade. (correlation of XRP to BTC=0.54)
XRP was able to break the 🔴resistance zone($ 0.53-$ 0.521)🔴 with the Inverse Head and Shoulders pattern .
I expect XRP to move towards the next 🔴resistance zone($ 0.586-$ 0.5738)🔴 based on the double channel strategy after the pullback is completed.
XRP Analyze ( OKX:XRPUSDT ), 2-hour 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.
🔮🔥XRP - Critical Levels to Watch🔥🔮What's up traders!👋
In today's breakdown, we cover one of our favorite altcoins in XRP.
Let's cut right to the chase and dive in...
CHART KEY:
Supply: 0.523-0.529 (red zone)
Demand: 0.492-0.501 (green zone)
Other key levels: 0.511-0.514 (grey zone)
XRP has clearly slowed down since our last analysis on it and has been trading inside this channel between ~0.49 and ~0.53 this whole week.
Our original plan of avoiding any substantial downside play is still valid since we have continued to hold demand around ~0.49
The true risk to reward remains on the upside still with demand at 0.492-0.501 holding up. We would need supply at 0.523-0.529 to be broken for a high conviction / big move.
However, shorter term short plays are valid now that we have identified this channel and seen the strength of it - all we need to do is be cautious of shorting into demand and longing into supply until either of those levels are broken with conviction.
We are currently trading in a key zone between 0.511-0.514. We need to be cautious of this zone if we're bullish and cautious of demand below if we're bearish.
✅ Bullish Case: you want to see price break past this 0.511-0.514 zone, pull back into it, show that it will hold this level and find strength here for a move past or into supply at 0.523-0.529 again.
Or you want to see price pull back into demand at 0.492-0.501 again, support build up again for a move back past or into this ~0.511 zone.
The big upside play would be to wait for supply at 0.523-0.529 to be broken and have it become new demand if it pulls back and finds support there for possibly a big move into the highs from a couple weeks ago.
🟥 Bearish Case: you want to see price reject this 0.511-0.514 zone, pull back into it, show that it will hold resistance here and find weakness for a move back into demand at 0.492-0.501 again.
Or you want to see price approach supply at 0.523-0.529 again and reject for a downside move.
The big downside play would be to wait for demand at 0.492-0.501 to be broken and have it become new supply on a pull back.
So what do you think? Where is XRP headed? Boost and comment your thoughts below!
We'll see you in the next one
-The AlgoBuddy Team
Bitcoin Analyze (Short Term,15-minute Time Frame,04/13/2023)🌊Bitcoin seems to have passed its fifth impulsive wave in the 🟡Price Reversal Zone(PRZ)🟡.
To confirm the count, we have to wait for the uptrend line to break down.
If the uptrend line breaks downward, Bitcoin can touch the support line.
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.
Machine Learning Indicator and How to set TP SLHi, im newbie here but i saw this can help. I have use this indicator call machine learning and combine it with parabolic SAR. I use the historical data to determine TP and SL point.
TP rate : 2-3%
SL Rate : 1%
If you use leverage, then multiply your TP/SL with your leverage. I recommen this strategy to use low leverage such as 2-5X
