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AUDUSD price is now bearish after manipulationYesterday, a lot of currencies moved abnormally, in that they created a candle with a really huge wick. This must've been the manipulation after the huge shorts that were made. Price is almost finished filling out the huge wick, and since other traders are gonna go long after seeing this huge up move, the market makers are gonna plunge the price down. So that's my reason for going short on this trade, and I've already shown all the other stuff like TP, SL above. Goodbye.
Short
by NhatHoang123
3
USDCAD just here to flexin' a winning tradeI first saw a priceline that market's been reacting to over and over again. This time, it seemed to act as a support line. However, when I got in, I was lucky enough to already see that market grabbed liquidity from SL of trades going to against the support. So, what time was it, guys? It's my time to win some pips of course. When trying to move my TP, I saw an upper area of liquidity. Price also reacted to that level several times, and I hoped to see that it happened again, and it did. There was also a higher TP that I was considering, but after seeing the Area of Liquidity, I closed my trade as soon as price reached that level. Made literally 69.420 pips on this currency today, guys. Happy trading!
Long
by NhatHoang123
As long as BCH remains under 291 we are looking for HL shortsDisclaimer: This is not financial advice In high leverage trading your entry is a matter of life or death, you need to have patience and to not let fear of missing out drive you into opening rushed positions. Map out your trades in advance and wait for the right entry. Our aim is to capture quick & safe profits, not to predict the future, this is possible only if we fight for a good entry. So if you're nervous and itching to open a position then take a few deep breaths and don't trade! Bitcoin Cash looks weak here. We could be forming a giant bull flag that will take a while to break upwards but in the meantime we have broken 2 important weekly pivots so as long as we remain under 291 I'm looking for high leverage shorts. Price reacted to daily support area around 274-278 which is a good sign for bulls however I'm not confident enough to be looking for longs here because downward pressure is stronger right now. Therefore we wait for a retest of 291 or we short a retest of the 274 area should the price break down further. Entry: 291 SL: 296 TP1: 275 TP2: 260 TP3: 244
KRAKEN:BCHUSDShort
by zerobounds
USDJPY short opportunity...ish?Price conveyed a strong downtrend, then it created a pennant, which is a continuation pattern. And if you look at a greater picture, you'd see that price created lower lows, and it was far from reaching the previous high. SL is crucial for this trade. Since it's a pre-market trade, the pips spread can widen at the start of the trading week. USDJPY's spread is currently sitting at 10 pips, which is why I moved my SL 10 pips further than intended. As for the TP, then I first copied and pasted the vertical line that showed the height of the previous downtrend, matched it with the recent reversal pattern, and there goes my TP. The lowest low that the price made recently kind of matches my TP zone. Price hasn't tested any levels near that low yet, I think this is a potential Area of Liquidity. So the market can be very tempted to reach that level, I'd be fine if it is my TP. It's nighttime guys, I'll go to bed in just a sec, so bye!
Short
by NhatHoang123
XAUUSD is going to choke itPrice is consolidating after a downtrend, which indicates that the price is going to continue moving downward. To prevent my trade from getting stopped out, I first need to find an area of liquidity, which a line that's above the high of that consolidation period. You can see where I have identified it in the chart above. As for the TP level, it's pretty easy to spot. Just look for the uttermost bottomed close that price established. You don't look for a WICK's end, you look for the CLOSE's end. And that is it for today! Entry: 1948.291 SL: 1960.085 TP: 1881.545
OANDA:XAUUSDShort
by NhatHoang123
USDCHF risk-free trade for me, hahaI took a short trade, expecting the market to follow a bearish structure. And it did! It made an uptrend, then it went up for quite a while, but now I am seeing a reversal pattern, and the fact that it hasn't broken the previous high just further confirms this potential downtrend My entry price is just above this current high, which makes it a perfect opportunity for me to move my SL to breakeven. Because after all, the entry price itself is the perfect SL for this trade. Still believing in a bear market guys, wish me luck! Entry/SL: 0.91444 TP: 0.90460
Short
by NhatHoang123
Bitcoin going to make some correction or will make new highs XOHello Everyone, We have seen a lot of activity of Bitcoin because it was deemed as real money by DC laws so masses purchased bitcoin and are now holding because it is digital gold (named) so my analysis is Bitcoin is in my top resistance and support area. The major resistance is at 11391 area and major support is at 9600 area but there are many internal supports that bitcoin needs to cross if it is planning to go to that area. A correction is a must after this massive pump according to supply and demand we have seen a lot of demand this week so there must be a correction. Each time when previous resistance has been tested uptrend is in a critical phase, failure to cross the previous peak or unable to bounce the near support usually means that the existing trend is changing. Now bitcoin has made a new high that is 11394 if it fails to cross that resistance then surely it will retrace the path, nearest support is at 10832 which has tried to cross 3-4 times but failed to cross it thus giving us a good support area. An individual can take a long order whenever the price retests that support if the candle on 1 hour succeeds crossing that resistance, do not go for long order if the candle is unable to cross that support and makes a wig that exactly touches or is near support wait for the next candle if next candle crosses the previous candle high I would go long there with a stop loss that will be 3% down from support. Please do examine MACD and RSI before going for long I suggest this for every order MACD and RSI plays an important role in telling us about demand and supply so that can be of great help. --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Ichimoku Components - Kijun - REDLINE Tenken - BLUELINE Senkou A - Upper Border of cloud when the trend is bullish and Lower border of cloud when the trend is bearish Senkou B - Upper Border of cloud when the trend is bearish and Lower border of cloud when the trend is bullish Chikou - The green color shadow of price moving 26 period back ..................................................................................................................................................................................................................... Ichimoku also gives a great idea that is the price is still bullish there are many signs of that like Kijun and Tenken crossover that happened few hours ago and still in motion, they are parallel that means the price is consolidation but major signs are still bullish. Another sign I want to talk about is the price is still above Kijun which means bullish until and unless it crosse the Kijun and closes below as well as the Kumo cloud, Price is above Kumo cloud which means the price is bullish and has 4 supports to cross which are TENKEN, KIJUN, SENKOU A and SENKOU B. Crossover of Senkou A and Senkou B is a little bit troubling me because Senkou B is above Senkou A which indicates us of a bearish sign but still bullish signs are a lot more than bearish signs so we can say that price is in the uptrend. Chikou line has also crossed the previous price line so that also means that trend is bullish. If you have any thoughts regarding this idea or if I am wrong at any point, do tell me in comments :)
by TheTradingo
1
How to Capture more Profit through Trend Line AnglesTheory: When I'm trading trending markets above the 4hr and daily timeframes, I often use trend angles to understand the rate of change as the market gets faster and steeper. Today I'm going to use Gold as an example. I have been trading this asset for a while as it has been trending well on a casual upward slope of approx 14 degrees. Around July 20, the angle changed to 30 degrees... This is twice as steep, indicating stronger momentum. Around the July 23, again the angle increased and this time to 52 degrees - almost double again. On July 27 (today at time of publishing) the angle changed again to 76 degrees. Using the trend angle tool, I can see the rate of change and how steep the trade has become. Trading Tactics: Each time the angle changes, I draw a new trend line and add an alert to the most recent inner trend line. This is now my priority. As the trade develops, I can review the progress. If the most recent inner trend is broken, that's the first red flag for me. I can choose to sell a few contracts/shares/units and begin to scale out. At the break of the most recent support directly below the inner trend line, I will scale out even further. If a second trend line or a major channel is broken in addition to the inner trend and support, I will scale out completely. Summary: This tactic has allowed me to capture maximum profit without having to set up a trailing stop loss. Although a trailing stop can work exceptionally well in some circumstances, this is an alternative option. Hope this helps! Have you used similar tactics or a similar strategy? NOTE - This is purely educational content and none of it should be taken as financial advice. I am sharing a tactic that works for me personally, with no guarantee of results being replicated.
OANDA:XAUUSDEducation
by glennleese
5
EURAUD developing into a nice trading oportunityHello Traders. Hope you are doing well. On EURAUD we have a setup that might be very profitable in the next few days. As I am seeing, the pair is bellow a trend line resistance and if it breaks that resistance it has potential for a move towards 1.64 even 1.6450. That is more than 150 pips for the trade. The other scenario, resistance holds and the Australian dollar goes towards the 1.60 area against the euro. This is also a good trade with around 200 pips. My personal opinion is that it has higher chance for the upside, however I will not enter in the trade unless price action confirms any of the scenarios presented above. Share your toughs and Ideas in the comments. Let's grow together!!! Good luck out there.
by opentrader08
Two Ways To ProfitWe're on the 4H chart on EUR/CAD and what we're honestly seeing is consolidation in the zones of 1.53 & 1.55. Being bullish overall on eur/cad, it's it's in our best interest to look for buys. If you're experienced in counter-trend trading then catching this retracement in the level of 1.54 will be very profitable in over 60 pips ... I mean if your price action skills is accurate and timely. (Setting an alert should help with timing.) Let's look to go long after a break above the resistance level closing above to form a support level. This will put you in profit over 100 pips if your price action is on point. You may look for a retest and then an entry especially if you're a newbie to swing trading or trading in general. - Once you're a pro, you'll know where to go!
by ISmokeFlorals