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XAUUSD: Today's downtrend remains unchanged and continues to breThe 1-hour chart is subject to the suppression of the moving average system, and still maintains a good downward trend. In terms of operation, it is recommended to be bearish rather than chasing short, wait patiently for the rebound to short the band, short-term rebound 1924~1920, stop loss 1930, target 1908-1892. Gold fell 1% yesterday to hit a three-month low after Federal Reserve Chairman Jerome Powell testified before Congress. The prospect of more rate hikes from the U.S. central bank overwhelmed any support for gold from signs of weakness in the U.S. labor market. To be honest, the recent market is really difficult to operate. Last night’s review found that the U.S. dollar index and gold basically fell at the same time this month. This situation has happened before, but it cannot last for a long time. It depends on when the stalemate is broken. From a technical point of view, gold continued to fall the next day, and the daily line closed with a big negative line with upper and lower shadow lines, and the overall trend is still in the downward trend since the new high.
TVC:GOLDShort
by ActuaryJ
✅ 8 important patterns! How to trade with them? ⭐Bearish Symmetrical Triangle - Bearish + Bullish trendline - Take price at lenght of triangle height - Stop loss above last high ⭐Symmetrical Triangle - Bearish + Bullish trendline - Take price at lenght of triangle height - Stop loss below last low ⭐Bearish Flag - flag pole - Bearish channel in bullish trend - Take price at lenght of - flag pole - Stop loss above last high ⭐Bullish Flag - Bearish channel in bullish - Take price at lenght of flag pole - Stop loss below last low ⭐ Risisng Wedge - Two bullish trendlines - Stop loss above last high - Take Price at Wedge low ⭐Falling Wedge - Entry after breakout confirmation - Take Profit at the Wedge high - Stop loss below last ⭐Descending Triangle - Support + bearish trendline - Stop loss above last high - Take Price at triangle height ⭐Ascending Triangle - Take Profit at triangle height - Stop loss below last low ✅If this post was useful for you, like it ❤️ and if you think it is useful for your friends, be sure to send it to them. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 🌍Thank you for seeing idea . Have a nice day and Good luck.
Education
by CobraVanguard
4
Trading A "WV" Pattern - Trade Setup ExampleHello Traders, here is an example of how to trade a "WV" pattern which given the right conditions is a high probability trade setup. I'll let the chart speak for itself, however here are some key notes. A "WV" pattern by itself is a strong pattern, however its best to find setups which combine multiple factors. In the example above you have 2 strong factors: 1) "WV" pattern (Retrace to Trendline) 2) Retrace to the 200 MA Either one of those by themselves would not give you a strong enough setup to enter, however when you combine both the trendline retrace and the 200ma you have a very strong setup. You can see how price reacted in a very strong manner and had a significant bounce, this is testament to how strong a setup can be when factors are combined. Thanks everyone and best of luck trading!
NASDAQ:ISRG
by natef1
1
❗️USE STOP LOSS AND BECOME A BETTER TRADER❗️ 🟩STOP LOSS IS:A stop-loss order is an order that automatically closes a losing position once the price hits the pre-specified level. We usually calculate SL in pips, but there can be many ways to set it. It can be time based, percentage based or volatility based. For some investors SL is some piece of critical news, which alters their perception of the value of the asset. Regular stop losses can be many and varied too, for example trailing stop. Also, we sometimes move SL to entry after the half close to protect the gains and make our position risk free.However, all situations I listed above have one thing in common and it is the fact that the SL was used! 🟥Honestly, I am amused by the massive number of people who send me screenshots of their MT4 with several open trades on the same pair all of them without SL and with 90% of account lost. And they ask me what should they do? A great illustration of what is would take to recover from such a loss, is on the drawing above. With the 90% loss, you have only one tenth of the original account left. That means you need to make ten times more money than you have left just to recover your losses. 999% gain needs to be made just to have your old account back. It took you a day to blow it, and might take months to recover the losses. This is the brutality of the trading. The market is unforgiving and will punish you if you treat is without respect. If you are careless or if you make mistakes. The market always comes back to collect, waiting for the moment you drop your guard and relax for a second. Please always use Stop Loss, because, as it happens, it stops you from losing too much! I Hope you guys learned something new today✅ Wish you all Best Of Luck👍 😇And may the odds be always in your favor😇 Dear followers, let me know, what topic interests you for new educational posts?
BITSTAMP:BTCUSDEducation
by SignalProvider
7
ALGO the Star 🌟: a Fresh Look pointing at +80% Shwatup doe! Hope you are healthy wealthy and blessed <3 It is a wild and beautiful day in the world of crypto, I hope all of you are experiencing it in joy! Now here we are looking at ALGO on the daily time frame, zoomed way out so BIG PICTURE ya; and what do we see?! ⭐️ I have been simply drawing trend lines on this chart throughout the past month or so and hadn’t noticed this star pattern forming, that is until this last parabolic upswing that seems to want to connect the 5-point star pattern to its peak point of $0.94 USD ... the 4.236 Fibonacci extension of our recent low of $0.27 that happens to coincide with the trend line of our previous peaks. Coincidence? Maybe we should ask the stars... ✨ As I said in my last idea titled ALGO Bullish Trend... , “if .47 is broken, we could see a quick move to the .53 area” Well, here we are bounced off .53 to support at .49 and now back up sitting right under .53 , at .5064 , with .52 looking like it wants to become support for further uptrend. With a breakout over .52 turned support confirmation, this trade comes into play. If this star pattern plays out, we may see some resistance at $0.68-$0.70 There looks to be STRONG support at $0.42, and strong support at $0.47 and $0.49, with strength and VOLUME building here at the $0.50-$0.52 level Long open for possible +80% gains from $0.52 to $0.94 These are my ideas and I am simply sharing my ideas with you. Please assume your own risk and management. I am not a financial advisor and this is not financial advice. One Love ❤️
COINBASE:ALGOUSDLong
by DharmaCat_Pro
5
$F - Descending TriangleThe bears have been able to drive this market downwards at steadily lower up swings. And conversely, the bulls have not been able to drive this market past its previous swing highs since August 2022. Although this chart pattern and price action behavior is suggestive of bearish dominance in this market. Although the price is trading below the key EMAs. The longer time frames and the RSI bullish divergence formed from July to October 2022, does not allow us to jump into conclusions as to how to form our bias. More important perhaps than forming our bias here, is to register how neatly this pattern is being formed, from volatility to the lack of it. To the extent that the price is now trading in a very narrow range. To the extent that a breakout with conviction in either end of the triangle, now, will be a revealing signal of where this market wants to go. Despite the sensation of control that any sort of analysis might lend you, please note that the future is unknown. For this reason, risk management is the real name of the game here. Remember to keep your positions small and dispersed. Cheers, Tenacious Tribe - Backtested Trading Strategies & Studies 50% discount on all of our products, in our website, with the following code: MOX Q3C WXRX
NYSE:F
by ruben_rodrigues
RYTM- More downside to come? NASDAQ:RYTM This stock seems to be following a textbook Wyckoff market cycle and appears to be transitioning from markup to markdown. Mid May was the beginning of a multi week base building/accumulation On June 16-17 we can see the "spring" that preceded a huge markup in prices. After that a sharp rally in prices into the $11-$13 range that formed a pennant continuation pattern, then earnings came and boom it shot into a preliminary supply area(PSY) followed by a 35% move from $20 to a day high of 27.21 buying climax (BC). Last weeks UTAD failed rally/ blowoff top on high volume gave way to this weeks feeble rally with red hourly candles on high volume, showing that big players are dumping shares onto greedy retail traders, who are providing liquidity. A crown has formed and todays large red candles punched down into lower prices with a high probability of lower prices in the future. The last points of supply (LPSY) seem inevitable. Given the context of Julys " bad news is good news" rallies in many stocks this was one that wasn't left behind. It appreciated 10x from its June low! This stock is slowly dripping down into a low volume area. Once there, it might just liquidate dramatically downside. Will be on the lookout next week for any relief rallies that will provide low risk short entries. Ultimate target would be the $17.04 .5 fib or $13.76 .618 fib range, potentially lower considering the current state of the market. Please like, comment or follow :)
NASDAQ:RYTMShort
by robbtronic
❗️5 CRUCIAL TRADING CONCEPTS❗️ ✅Forex trading can be an exciting and lucrative way to make money. However, it can be very challenging, even for seasoned traders. To be successful, it's essential to understand some essential concepts that can help you navigate the market and make more informed decisions. ✅One crucial concept to keep in mind is the impact of position sizing on trading success. Position sizing refers to the number of units you buy or sell when entering a trade. A lot of traders overlook the importance of proper position sizing, which can lead to significant losses. To increase the chances of success, traders should aim to limit their risk per trade to less than 2% of their account balance. ✅Another idea that can help traders is to focus on the outcome of their trades rather than their hit rate. Many traders believe that having a high hit rate is critical to success; this is not true. While accuracy is essential, profitability ultimately depends on the amount of money you make versus what you lose on each trade. Therefore, it's more crucial to focus on a trading strategy that controls losses and maximizes profits. ✅The third concept that successful traders implement is simplicity. Simple and robust systems tend to perform better than complex strategies. Overcomplicating a trading plan can lead to confusion and can even trigger emotional responses that may drive you to make impulsive decisions during trading. ✅This brings us to the fourth critical concept, which is psychology. Trading is 80% psychology, and the remaining 20% is skills and knowledge. A trader with the right mindset is much more likely to succeed than one who lacks the discipline to adhere to a trading plan. ✅Finally, traders who focus on learning one pattern or strategy tend to be more profitable than those who search for fancy strategies or systems. As the trading market constantly evolves, traders must always stay on their toes and keep learning. However, instead of trying to master everything, it is helpful to focus on a single pattern or strategy until it becomes your specialty. ✅In conclusion, Forex trading is a complex practice that requires patience, discipline, and the ability to adapt. With these five principles in mind, traders can become more successful, minimize risk, and increase their profits. By keeping things simple, controlling emotions, and making smart decisions about position sizing, traders can maximize their potential and achieve their financial goals. I Hope you guys learned something new today✅ Wish you all Best Of Luck👍 😇And may the odds be always in your favor😇 Do you like this post? Do you want more articles like that?
Education
by ProSignalsFx
10
SPY Update (monthly close)We have managed to close out a month above the 50% retrace at 414.04 drawn from 2022 high to low. This has been a key area to overcome. We are clearly now above the 405.11 POC area, and this month we cleared another high volume point at the 50% retrace line (414.04). The low points in September and October 2022 touched and repelled off the lower 2 sigma line of the regression trend (salmon color in the background) drawn from March 2020 COVID low to January 2022 high. From May 2022 to present we formed roughly an upper lateral wall at the 50% line, accompanied by a rising trend of higher lows. In effect, this has created an ascending triangle. This from Stockcharts.com: "The ascending triangle is a bullish formation that usually forms during an uptrend as a continuation pattern. There are instances when ascending triangles form as reversal patterns at the end of a downtrend, but they are typically continuation patterns. Regardless of where they form, ascending triangles are bullish patterns that indicate accumulation. Source: stockcharts.com" The ascending triangle is a bullish reversal pattern, but in a downtrend is is less reliable as a bullish reversal than if it occurred in an uptrend. I personally have seen very few (maybe none) of this pattern in a downtrend, so I have no opinion of which way it will go if it breaks. Nevertheless, the higher lows exhibited in the trend is encouraging to bulls. You will notice the twelve month Bollinger bands are narrowing, and the 12 month moving average is levelling out. A move may be nearing soon. If we can further move past the 50% retrace line, we get into an area of declining volume (down sloping) and we could have a pretty fast move up to 424. On the other hand, should we have a negative catalyst, and if we descend below the 405 POC area we could have a sharp descent lower on a declining volume slope. (I can think of two possible catalysts -- continued overly hawkish FED or further bank solvency issues). So I think next week FOMC + further banking issues may give us some good clues.
AMEX:SPY
by UnknownUnicorn13101