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Priceactionstrategy

DOLLAR INDEX (DXY) Bearish Wave is Coming? 💵 Hey traders, This week, Dollar Index broke and closed below key daily structure support. Now we see its retest. Analyzing the reaction of the price to the broke structure, I spotted a cute double top formation on 1H time frame. Its neckline breakout will most likely trigger a strong bearish move. First goal - 101.7 ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
TVC:DXYShort
by VasilyTrader
9
3 Important Terms Every Trader Must Know | Trading Basics📚 Hey traders, In this post, we will discuss 3 very important market situations that every trader must be able to recognize: breakout, retest, and fakeout. ❗️Please, note that the essential element of all these terms is structure: vertical and horizontal key levels. 📍Breakout is a situation when the market breaks the identified horizontal support or resistance, or a vertical trend line. Breakout is a very important event that signifies the willingness of buyers/sellers to violate the structures. Violation of support signifies a strong selling pressure while a violation of resistance signifies a high buying momentum. Usually, the structure breakout is confirmed with a candle close. For confirmation of a breakout of support, a candle close below that is needed. For confirmation of a breakout of resistance, a candle close above is required. 📍Retest is the situation when the price returns back to broken horizontal support or resistance, or a vertical trend line after a confirmed breakout. For a structure breakout, high trading volumes are needed. Usually, after a breakout, the market participants are locally exhausted and a correctional movement follows. That may lead to a retest of a broken structure. Most of the time, after a retest a strong impulse follows. For that reason, for many traders, the retest is applied for trading entries. 📍Fakeout or false breakout is the situation when the price has not enough strength to maintain its direction after a retest of a broken structure. Instead, the market returns back below/above the broken resistance/support. Fakeout is one of the main reasons, why structure traders lose money. One of the ways to avoid fakeout is to monitor trading volumes during a structure breakout. A volume spike is needed to confirm the strength of the market participants while low volumes most of the time signify a manipulation. Learn to spot breakouts and false ones, and try to trade on a retest. Let me know what do you want to learn in the next post? ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
BITSTAMP:BTCUSD
by VasilyTrader
10
GBPJPY: Your Trading Plan For Today 🇬🇧🇯🇵 Hey traders, GBPJPY is approaching a very peculiar zone of confluence on a 4H: we see a perfect match between a horizontal resistance, falling trend line and fib.retracements of the last two impulses. To catch a bearish move from the underlined zone, wait for a breakout a bearish flag pattern. You need 4H candle close below its support to confirm that. Then a bearish continuation will be expected at least to 156.55 level. If the price breaks the blue zone to the upside, the setup will be invalid. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
Short
by VasilyTrader
12
Easy 5:1 ETH Short On the CardsFTX:ETHPERP Trade thoughts: With the aggressive downside move this week, buyers trying to take back control of market, but bears are not finished. I think bear market is upon us as weekly structure has been taken out for BTC, and for ETH its just a matter of time - once we break and close below 1889 on weekly timeframe bear market will be confirmed for me. This is last attempt to push the market back up by Bulls. PA is without question trending down with price below the 4H 50 EMA, and consistent lower lows, lower highs. Good time to sit back and wait for the next short opportunity with PA destined to head back down. Keep stops above structure level and an easy 5:1, and possibly 15:1 once you can safely tighten stops after stop hunt attempts. Keep above 2456 until you can be certain.
FTX:ETHPERPShort
by cryptoject
1
GOLD (XAUUSD): Time to Grow🥇 Hey traders, After reaching a major rising trend line on a daily, Gold leaves a lot of bullish clues. The price broke and closed above a resistance line of a falling wedge pattern on 4h. It looks like the market is preparing for a strong bullish move. I will expect a bullish continuation to 1887 / 1906 levels. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
OANDA:XAUUSDLong
by VasilyTrader
13
DOLLAR INDEX (DXY) Consolidation and Indecision 💵 As we earlier discussed, Dollar index reached a major weekly structure resistance. The price is coiling on that for a couple of days already. Analyzing a daily time frame, I spotted a classic inside bar formation. Technically speaking daily candles are currently trading within the range of the 28th of April candle. It looks like the market participants are waiting for some trigger and currently are very indecisive. To clarify the future direction of the market, wait for a breakout of the underlined range (you need a daily candle close above/below to confirm the breakout). If the price breaks the lower boundary of the range, I will expect a correctional move to 101.5 structure. If the price breaks its upper boundary, I will expect a bullish continuation to 105.0 level. Let's see what will happen. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
TVC:DXYShort
by VasilyTrader
42
EURCAD: Bearish Trend Continuation 🇪🇺🇨🇦 Hey traders, EURCAD is trading in a bearish trend. Setting a new structure low last week, the pair retraced to strong resistance. On that, the price formed multiple dodji candles, and then the pair formed a double top formation. Its neckline breakout confirms a highly probable bearish continuation. I expect a down move to 1.34 ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
Short
by VasilyTrader
3
Copper: Bullish Move From Key Level Copper reached a very peculiar confluence zone: we see a perfect match between a horizontal daily demand area, 618 and 786 retracement levels of the last two bullish impulses. Analyzing the candlesticks, we may spot a nice dodji candle being formed on that structure. Then, analyzing an intraday perspective, I spotted a bullish breakout of a falling wedge pattern formation. I assume that it will trigger a bullish move. Resistances on focus: 800 / 805 ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
MCX:COPPER1!Long
by VasilyTrader
8
AUDCAD: Your Trading Plan For Today 🇦🇺🇨🇦 On a live stream today we discussed a potential short trade on AUDCAD: the pair is currently approaching a strong daily structure resistance. On an hourly time frame, the price is coiling. I spotted a tiny head and shoulders pattern. 0.932 - 0.9327 is its neckline. Wait for an hourly candle close below that to confirm a breakout. Then short aggressively or on a retest. Your intraday goals will be 0.93 / 0.928 If the price sets a new high on hourly, the setup will be invalid. ❤️Please, support this idea with like and comment!❤️
Short
by VasilyTrader
22