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Priceaction

How & Why I do backtesting in trading Hello everyone: Here to do a quick educational video on how I do backtesting in trading. I will utilize tradingview’s replay function and go over briefly on how I use it. I will also explain the benefits of doing backtesting. How it will strengthen a trader’s mindset and analysis. Key Concept on Backtesting: -Doesn't matter what trading strategies/setup/style you use, you need to backtest it so it becomes second nature to you when you are doing your analysis on the market. Simply watching your mentor’s screenshot and videos are not gonna be enough. Get hands on, do your analysis on past prices and see if they play out. How many times win and lose over the same setup on the same pair? -When you see how your strategies played out in the past, the easier it will be for you to identify them. Looking for a setup should be a simple task once you are familiar with your strategies. It should not take hours to do so. -Your mind is “programmed” now into finding your strategies on the current market condition, regardless the other “noise." Once you train your mind to understand your strategies will work, then you will simply filter out random things you hear and see. They won't bother you anymore. -The more you see your strategies play out, the more confidence you become in your trading analysis. Trading is a mind game. Master your mind, master the game. Understand that your trading success depends on you and you only. When you are confident in your trading plan and strategies, you simply will accelerate in your trading journey. Feel free to comment and ask questions, Thank you.
OANDA:XAGUSDEducation
by jojofang0901
2
USDJPY Selling Signal Patterns.Taking a look at the recent price action on USDJPY, we can see how the use of patterns and structure can be used to increase the probability for any potential trade setup. As you can see from the 15 Minute chart, USDJPY was on the rise until it ran out of steam and started to trade into an ascending channel. This ascending channel completed a bearish (selling) 3 drive pattern at the highs which can indicate price exhaustion. Once we saw this pattern complete and start to break down, we still don't look to enter the market until we locate a lower inner trend line to also break to the downside as this can help increase the strength of the pattern holding enough to extract pips from the market. Once the trend line breaks we can look to enter on the retest on the other side. As we saw continued weakness in USD, we were given another opportunity to enter the market for a potential continuation play, this time in the form of a bearish head & shoulders pattern. Just like the 3 drive pattern we don't look to enter the head & shoulders until we see a lower inner trend line also break to the downside on the retest. We would look to minimise our risk to the downside in both setups by placing a stop loss not to far above the 3rd drive high of the 3 drive pattern and just above the head of the head & shoulders pattern.
Education
by DavidVillagra
1
AUDJPY Buying Signal In our previous post we spotted a higher probability selling opportunity on AUDJPY. Since then we have seen in the price action a potential intra-day buying opportunity with a similar convergence of factors. As you can see from the 15 Minute chart, price came all the way down from the 75.00 level and reached the 74.00 level. In general AUDJPY loves the big figure (double zero) levels so we want to see how price reacts when these levels are reached. What we saw was a bullish 3 drive pattern complete right at the 74.00 level, this level in general has an increased probability of order flow resting there because its a round number and the pattern can indicate potential price exhaustion especially since it has already moved over 100 pips from the highs. To increase our confidence, confirmation and probability for any trade we want to locate as many factors that all line up to give you the same reason to execute. In this case once price rejected at the 74.00 level and we saw a bullish price pattern complete. The last factor we want to see is a higher inner trend line break to the upside as this can help confirm the pattern and also clearly show you a precise execution point. As we are trading the pattern we do not have to place a stop loss too far below the 3rd drive and the 74.00 level, while we can also look target 74.50 in the short term as there is not a lot of resistance until this area.
Education
by DavidVillagra
"micro trends" or miniature up trendsniature up trends Every major trend is going to have one thing in common A series of higher high and higher lows, or a series of lower highs and lower lows. Once you understand how to identify these trend patterns and the overall direction of a market, you can catch a move and stay in for a much larger trending move You can apply this type of setup to intraday and end of day trades. If you are having a hard time finding the trends, take a step back and look at the major turning points, are they going up or are they going down A lot of times traders get caught up in the noise of the markets and lose focus, but the market is always going to tell you where it is heading Do not worry about finding the top or the bottom, we are going for the middle 80%.. That is where the money is at Once you enter into this type of trend following trade. You manage stops by trailing them just behind the highest high or lowest low This will guarantee you stay in trade as long as the trend continues your direction If a previous high /low is broken, the the market is entering consolidation or reversing Now that you know how to identify what a trend is, you will start to see"micro trends" or miniature up trends, within the context of major down trend or miniature down trends, within the context of major up trend. These micro trends often times give us great entry opportunities to jump back in when a major trend resumes its original direction When you see a short-term series of higher low, higher high, within the context of a major down trend, draw a trend line connecting the lows. When the trend line is broken, you enter short. When you see a short-term series of lower high, lower lows, within the context of a major up trend, draw a trend line connecting the highs, when the trend line is broken, you enter long.
Education
by TaherJalili
Price action To be a price action trader you must read and understand the price, and all of the chart. . Remember that and use it in your trading. Not patterns and not signals or triggers. The signals and the entries are super important, but it is the overall price action story that is the king of the jungle. To make the story you need to read the whole chart. A really common question I get when traders are marking their support and resistance levels is “how far back do I go on my chart to mark my level?”. The answer is that you should read the WHOLE chart and go as far back as the chart allows.
Education
by TaherJalili
Why I decided to change my trading style and method after years Why I decided to change my trading style and method after years: First of all, I am not here to bash and talk negative on other traders who are consistent traders who do use these methods to their success. I am sharing my on personal journey and opinions, based on past experiences and past journal/history. By no mean I am saying my current style or strategies are better. I am creating this post for educational purpose only, no offense/criticize is done here to anymore. 1. I actually used to trade with S/R, supply/demand zone, and small number of indicators (MACD, EMA, RSI...etc), you can look back at my tradingview post years ago. 2. I have been somewhat consistent with those strategies and methods, and do generate profits within the years that I have adapted those type of strategies. 3. The time when I decided not to implement those methods anymore, is because when I back test and look back at my trading journals and history, I find out ways that I could improve my trading potential. 4. I realized many of these S/R, indicators are actually acting as an invisible barrier for me when I trade. 5. Many of my trades in the past have been short lived due to me sticking to my trading plan and exit a trade when the price hits a certain "criteria" such as 50 EMA, some S/R zone, or fibs level...etc.. 6. While its good to follow and stick to my trading plan and risk management, but when I do self reviews on past trades, I begin to find out there is a lot of profit I am leaving on the table. Or, poor trade management due to similar issues. 7. I begin to do in depth research on these topics and come to my personal conclusion. 8. The true is, I dont need any of those indicators and S/R level/zones on my chart. Simply remove all of them and see how the price is on a raw level. 9. I fully understand when the price is in its impulsive phrase, none of these indicators or levels can "resist" or "support" the price. The price simply breaks them or "impulse" through them. When the price is in its corrective phrase, this is when those levels or indicators work since price is in a correction nature and allowing those levels or indicators to "catch up" to the price. 10. When I dig deeper and more research and analysis, I begin to see the market on a totally different level. I realized how the market moves, and why it moves. 11. There is a saying, "Dont just believe what the others are telling you", or "Try it yourself before saying it out loud". I certainly put in time and effort into this and have done substantial amount of work to be confidence to express here. I hope this brief post is helpful for those traders who are still trying to identify how to trade and what to adapt in their trading plan. I welcome any positive/constructive comments, feedback, suggestions or opinions. Thank you
BITSTAMP:BTCUSDEducation
by jojofang0901
3
Special Analysis IN the mid-term and long-term for USD/CADHello guys, in this technical analysis I want to speak you to Monthly from Daily timeframe what I expect of this par!!! Lookin in Montly, we are in the elliot wave correction ABCDE, and that mean a possible bullish this pattern, because we are into in the ascendent triangle with expectative so bullish for long term!!! But more important is this screenshoot above, we are into the elliot wave # 4 into this elliot wave correction above up this screenshoot This mean that USD/CAD it's can going to reach the $1.64 CAD, and now look in the past time how Canadian Dollar is going to devaluate agains the U.S. Dollar, that is horrible, and also there are a bad news for Canada that the country it's going to comming on a considerable cases of covid-19 and the situation of Canadian petroleum that I see in this country a strong reccesion for the CAD currency. In weekly as you see in the monthly timeframe, we are complete the elliot wave correction D to find down the elliot wave correction E, and alter the USD to the moon against of CAD. But now the situation in weekly is that we are in the another into elliot wave that we are in the elliot wave 4 with chartist pattern called a bearish rising wedge. And also, I mark this elliot wave of this form because is the model of the possible drop in finished to find down the elliot wave E in monthly. And that support line is the base that form the ascendent triangle that you can see in monthly And finally, to conclude in Daily timeframe, we are in this rising wedge mentioned above, this is so bearish pattern with a possible drop of 5% if you put in long in the elliot wave E, we can to find up sell off of this par, So, also, this par is so interesting in this timeframe to put in short position. But, if you trade in H4 or H1 timeframe, we can see a possible up of the price until to find up the elliot wave E into this bearish rising wedge that I show you. And copying the Elliot waves Fibonacci, you can to see the same question of Weekly timeframe, because we are into the elliot wave correction. And guys, if you like my idea and aport you a help of then. So, consider this technical analysis for mid-term and long-term situation. Now in conclusion, in mid-term we can to expect that the price is reach the $1.30 CAD and this zone, it's the elliot wave E to put with hope the price action in weekly to put in long in the good zone to buy, but only we need to be patient and take a lot discipline, becuase I see in long term this par so bullish reaching above $1.60 CAD about all Canadian issues in the government, currency, petroleum and bad news for the Canada economy. This is not my techncal analysis, but I put in tutorial as teach you how you need to operate of this par, and it's important to know you this information for mid-term and long-term. Now, don't missing my part II of this analysis in H4 in minutes that I will going to make now.
Education
by harisonhbn9718
Special Analysis for EUR/USDin this technical analysis as education, we see an EUR/USD in long term very bullish. Why? Because there: If you keep watching up, we are in the strong support and a possible formation of Bat armonic pattern bearish or double top, as you want to see, maybe it's has for me a double top, and very strongest because in the past in the accumulation of 2014-2017 we having a bullish trend until the 2018. But, so, we are in the possible bull run to form in long term, because indicators in the RSI show us a bullish divergence in Monthly, and this is a good indicator for this currency EUR. I see an Euro very optimistic their economies and there are a good indicators so what EUR is could be the strengthen in the long term. In weekly, we have a very curious patter, because we are from August 2018 in the descendent and bearish channel from $!.17 USD from $!.06 USD, and then, in the RSI if you see, we are having in the ascendent channel in the RSI, and then, it's a good indicator what the force is strenghten on the price action. Also, as we broke up the descedent channel, we can to see a possible proyection and target again from the level of $1.24 USD. So, that it's a study of elliot wave analysis so we need to recover this information to take in our hand. And Daily in midterm, we proyect a drop until the $!.11 USD to later of the elliot wave analysis, we need to see an Euro bullish in this bull run of 2020. And also, I detect a hide bearish divergence and it's very neccesary to the price drop in that zone as I estimated in my previously technical analysis. Also i added in my link of related ideas a updates of EUR/USD so recently from yesterday That my friend, is all my technical analysis in Moonthly, Weekly and Daily timeframe, my expectative of the Euro is that I see that currency in the bull run agains the US Dollar.
Education
by harisonhbn9718
EURUSD: Bullish or Bearish??? hey guys, analyzing the price action on EURUSD we may notice that: 1.14 is our current structure high once it was reached, the price dropped to 1.123 structure support and failed to retest the high, setting a lower high. then one more retest of horizontal support. equal lows and a new bullish movement brought a lower high again. for now, bulls are clearly losing momentum. with 4 lower highs in a row, each consequent bullish leg is contracting. the price is currently testing the green support again. being broken to the downside, buyers will most likely lose their confidence, and selling reaction will be triggered. next goal for sellers will be: 1.115 for bullish scenario, we need a 4H violation of the last lower high level. the next goal for buyers will be: 1.129 (previous lower high level) both scenarios are equally possible but I am personally on the bearish side. How about you?
Education
by VasilyTrader
24
What is momentum?Momentum is another word for how the price on your charts moves. Momentum analysis, though, is one of the most important skills any trader can learn. What is momentum? First of all, we need to understand what momentum actually means but this is straightforward. Momentum = Trend strength There are two ways of looking at momentum. The first one just looks at the overall trend strength. When the price is in a strong or healthy trend, traders say that the momentum is bullish or bearish (in a downtrend). When we come to the micro level later, we will see that momentum also exists when we just look at individual candlesticks. A long candlestick without wicks (shadows) usually is considered a high momentum candlestick.
BYBIT:BTCUSD.PEducation
by TaherJalili
2
The reason why trading IS gambling (Why it's important)Hello everybody and welcome, First of all, thank you for the interest you show. The goal of this content, is to empower you with the tools you need to shift your psychology and level up your trading. ---------------------------------------------------------------------------------------------------------------------------------------------- Before we start, let me just say that I do not have any product to sell. My content is free and my only goal is to provide valuable information to help traders being more successful and consistent when trading. ------------------------------------------------------------------------------------------------------------------------------------------------ Some explanation regarding the introduction above : What I want to emphasize through that example, is that often times, when trading, you will face losing streaks . It is inevitable and we can also assume that it is recurrent . It is important to note what happens in the mind of a trader : doubt . Why ? Because of not accepting the fact that trading is gambling. I know ... It might be hard to "accept" because people often times think that trading is all about skills, but it is not. Let me explain : When you trade, whether you are long or short, you rely on nothing else than other people to make profits. The problem is, you do not know if these people have the same convictions and beliefs as you do regarding what the market is going to do in the future. So there's randomness involved in trading because every moment is unique, i.e. it involves different people. But, if you have an edge, meaning a "strategy" that puts the odds in your favor (whatever it might be, trading pullbacks, momentum trading, morning panics, gap strategies, etc...) : YOU ARE THE HOUSE . You win over a LONG period of time no matter the outcome on a trade-to-trade basis. Now, considering what we just said, should we care about what is going to happens to the trade I highlighted above ? Absolutely not. Why ? Because we have accepted the fact that the distribution between wins and losses is RANDOM in the market . Therefore, whatever the outcome is, we know, that we will be profitable in the long run. Why does that actually matter ? Well, it matters, because as I stated above, traders doubt when they encounter a losing streak. They question their edges, their skills, they start questioning their rules and strategies. What is likely to happen ? They blow their account. Fear, the biggest enemy in trading Apart from doubt, the trader that just has gone through 4,5,6,7 or more losses in a row, is afraid. He is afraid to put on that next trade, even though that trade could be a homerun and wipe all his losses. Fear paralyzes us, it reduces our focus and narrows our attention to what we fear the most. You probably recall the time when you put on a trade and you kept bagholding a loser, you were paralyzed, you just couldn't sell. There's a funny thing that happens everytime when you hold on to a loser, whenever you decide to sell, the market bounces back. This is because you are not alone on that boat and human psychology is universal. Once you have accepted that, you will be able to focus 100% on your actual trading errors, which are related to your knowledge and your skills. You will never doubt or have a moment of indecision if your edge appear on the chart. You will take the trade and don't care at all what happens next, because you know that trying to figure out if it's going to work or not has no sense. Thank you for taking the time to read me. I really appreciate that. Make sure you comment below if you have questions or just wanna add something. Thanks a lot, MyTradingJournal
BITSTAMP:BTCUSDEducation
by UnknownUnicorn6734025
4
USDCAD Swing trade tutorialHey Guys, I wanna show you how I trade swing trades based on my SR levels. Firstly I am waitting for a market to arrive in a SR area and then I am looking for a trade setup. In this case we can see strong buying activity which can be confusing, but mostly its good sign. Then I see pinbar with our formation which shows bigger volume and possible trade signal. So I entered trade command with SL and was looking for the first TP. I saw that in RRR 1:1 is strong gap and stargap formation which can be strong SR zone ( this significant zone was first TP ). When first TP was filled I moved SL on BE and let UC run to the second TP or BE :) Hope it will help you. Very similar trade you can see on EU idea from monday.
Education
by Asanato