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Yemi_Fx1 | Short for GBPUSDOn this Pair the main structure is a bearish flag continuation pattern from 2HTF perspective which makes the long term bias Short(Sell), but there'll be a short term buying to the area of value, before the major moves begins. I'll be considering; A Risk entry type at the top of the bearish flag structure at an area of value. Reduced risk entry after the impulsive back down followed by a tight flag or break of the flag. Share your thoughts in the comments and show your support for the idea by liking it. Thank you for your help.
Short
by Yemi_Fx1
What Trading Consolidation Looks Like?Should you trade consolidation? Well, the real question is are you a consolidation trader? If so, what does consolidation trading look like to you? Not all traders will have the same answer because no trader knows when consolidation will form until it happens. What you will do when it happens is solely based on what you believe to be true based on your beliefs about trading and your trading strategy. What is a market condition? A market condition is a type of way the market moves. Much like the weather outside, you dress based upon the temperature outside and you choose your style of clothing. You can't control the weather, but you can control what you do. Much like you can't control how price moves, but you can control how you trade it. The way price moves determines the strategy you choose to trade it based on your trading style. When consolidation begins forming you may notice a few things such as: 1. Its hard to gauge the price direction 2. Price moves sideways between an extreme high and low for an extended amount of time 3. You may be stopped out more often or have to wait longer before placing a trade if you are a trend or breakout trader 4. You may trade well within the ranges of crazy price movement in between the extreme high and low prices. The bigger question to ask yourself when you notice consolation forming is do you do well in this type of market? If so, what are the steps to trading this type of condition? Do you look place horizontal trend lines? Do you look for patterns such as wedges or flags. If no, the current currency pair or asset will be best to ignore til it begins to trend again in your favor. What will that look like? Is it a break out of the horizontal trend lines? Is it a break out of your pattern? Either way, as a trader, it's best you determine what consolidation looks like to you and decide to trade it or not to trade it. Construct steps around how you trade it and position your risk size according to this type of condition. For me myself personally, I do not trade consolidation. I am a trend trader and my motto is, if I'm not in the trade before consolidation forms, I'm not trading at all. I also don't create consolidation strategies. Thats just me personally. It helps with me mental capacity and keeps me focused on what works for me. I'd like to know, do you trade consolidation and if so, whats your best strategy. Lastly, thank you for reading my post. Be sure to like it. It lets me know you enjoy reading what I love talking about in my free time, trading. ❤️
EIGHTCAP:USOUSDEducation
by ShaquanLopez
2
BTC 3-day A follow on to our last 2 charts covering BTC's 3-day Pattern! The 1-day Golden Cross has occurred and each time that it has in the past, BTC retraced just before or just after. Also following the cross of the 21 Moving Average Crossing above the 50MA, BTC retraced back to the 50 as id did in 2021, and crashing through it in 2015 and 2020. I have also noted that on the 1-day chart, BTC has been forming Bearish Divergence. 2021 was 28 days, current price action is 25-days! Will BTC follow these past patterns or can it do the unexpected and break through our 100EMA and out-trend resistance?
INDEX:BTCUSD
by livmac7
KWH Interday BuyKing W. Harbmayg's Journal Entry #1 Interday Review: The direction came after a short which failed to break the previous low. It is also in alignment with my weekly buyside bias. Morning star is currently printing, which I ideally I should wait for the closing of the candle, and I decided to get in a bit early before the 5pm EST market close. I took it prematurely because of the information gleaned from the lower timeframes and that the 1H patterns are fairly reliable.
Long
by Harbmayg
2
XAG finally breaking out of the channel?Silver is about to break out of the channel. Jordan Roy-Byrne, Founder and Editor of The Daily Gold, outlines that the key determinant factor for a real bull market in the gold, silver and the precious metals mining stocks will be when gold decidedly breaks above the S&P 500 on the ratio chart. There are plenty of historical periods one can point to as evidence that the gold and silver mining stocks outperformed and diverged from the US general equities in prior bear market periods.
OANDA:XAGUSD
by Samo_Danilo
📊 Chart Patterns Cheat SheetPatterns are the distinctive formations created by the movements of security prices on a chart and are the foundation of technical analysis. A pattern is identified by a line connecting common price points, such as closing prices or highs or lows, during a specific period. Technical analysts seek to identify patterns to anticipate the future direction of a security’s price. These patterns can be as simple as trendlines and as complex as double head-and-shoulders formations. 🔹 Reversal patterns are those chart formations that signal that the ongoing trend is about to change course. If a reversal chart pattern forms during an uptrend, it hints that the trend will reverse and that the price will head down soon. Conversely, if a reversal chart pattern is seen during a downtrend, it suggests that the price will move up later on. 🔹 Continuation chart patterns are those chart formations that signal that the ongoing trend will resume. Usually, these are also known as consolidation patterns because they show how buyers or sellers take a quick break before moving further in the same direction as the prior trend. Trends don’t usually move in a straight line higher or lower. They pause and move sideways, “correct” lower or higher, and then regain momentum to continue the overall trend. 👤 @AlgoBuddy 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work, please like, comment and follow ❤️
Education
by QuantVue
7
QQQ Cup & Handle Set-UpQQQ looks bullish, classic C&H on micro time frame - Volume matches pattern 4:1 Profit potential. TQQQ for 3xLeverage= 18%-20% possible profit / 4-5% possible losses ***Be Careful -Negative CPI data on Thursday will cancel any bullish moves - lots of volatility & market manipulation to finish this week Everyone is so Bearish right now.. this is the contrarian move... watch out for the composite man or woman Proper entry: wait for break above resistance with large buying volume - *set your stop losses
NASDAQ:QQQLong
by Black_Sheep1
7
🔠 The ABCD PatternThe ABCD is a basic harmonic pattern. All other patterns derive from it. The pattern consists of 3 price swings. The lines AB and CD are called “legs”, while the line BC is referred to as a correction or a retracement. AB and CD tend to have approximately the same size. A bullish ABCD pattern follows a downtrend and means that a reversal to the upside is likely. A bearish ABCD pattern is formed after an uptrend and signals a potential bearish reversal at a certain level. The rules for trading bullish and bearish ABCD patterns are the same, you will just need to take into account the direction of the pattern you trade and the movement of the market it predicts. 🔷Classic ABCD The point C should be at 61.8%-78.6% of AB. The point D, in its turn, should be at the 127.2%-161.8% Fibonacci expansion of BC. Notice that a 61.8% retracement at the point C tends to result in the 161.8% projection of BC, while a 78.6% retracement at the C point will lead to the 127% projection. 🔷AB = CD Here CD has exactly the same length as AB. In addition, it takes the market the equal time to travel from A to B as from C to D. As a Result, AB and CD have the same angle. This type of ABCD pattern is seen quite often and is popular among traders. 🔷ABCD Extension ABCD extension refers to when CD is the 127.2%-161.8% extension of AB. CD can be even 2 times (or more) bigger than AB. There actually are some signs that can hint that CD will be much longer than AB. They are a gap after point C or big candlesticks near point C. 📊Trading with ABCD pattern The key thing you should remember is that you can enter the trade only after the price reached the point D. Study the chart looking at the price’s highs and lows. It may be helpful to use ZigZag indicator (Insert – Indicators – Custom – ZigZag) that marks the chart’s swings. Watch the price as it forms AB and BC. In a bullish ABCD, C must be lower than A and should be the intermediate high after the low at B. Point D must be a new low below B. When the market arrives at a point, where D may be situated, don’t rush into a trade. Use some techniques to make sure that the price reversed up (or down if it’s a bearish ABCD). The best scenario is a reversal candlestick pattern. A buy order may be set at or above the high of the candle at point D. 👤 @AlgoBuddy 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work, please like, comment and follow ❤️
Education
by QuantVue
2
BTCUSDT is testing the KEY level!Bitcoin hit 20k as I told you in my previous analysis after a clear breakout and retest of Ascending channel. Now the price is testing the key level, where this dump began, and where the market printed the previous HL on the daily timeframe. On the Daily we can spot a clear W pattern, usually, the market wants to retest its neckline. In that case, the neckline is on 0.618 Fibonacci level on the daily timeframe, About the 4h timeframe, we can see a false breakout above the local HH and on the 4h supply. What's next? If the price is going to lose the 4h support on 20k and retest it as new resistance, we could see a retracement until the 0.618 Fibonacci level. Otherwise, If the market is going to close with a volume above 21600, we could see a new bullish scenario. Bank Holiday in the USA (Martin Luther King Jr. Day)
by InkyGrip
6