US30 LongUS30
What I’m looking at for NYO today. Price not to drop below that low at 33796 area which will confirm that we are still buying. Break back above 33870 area POI. Will drop down to 15 or even 5 min to ensure that movement is clean.
Resistances
Silver Short Term Sell IdeaH4 - Bearish trend pattern followed by a double wave correction.
Price respected a strong resistance zone and bounced lower.
Price has currently broken below the most recent uptrend line.
H1 - Bearish trend pattern.
No opposite evidences.
Until the two strong resistance zones hold I expect the price to move lower further after pullbacks.
Ethereum - Looking To Sell Pullbacks In The Short TermH4 - Bearish trend pattern.
Currently it looks like a pullback is happening.
No opposite signs.
Until the two strong resistance zones hold my short term view remains bearish here.
usdjpy consolidating before breakoutUSDJPY is hinting at a momentum swing. The overall trend is still up however price has not been making any new higher highs on the daily, In fact, volatility at the high forms a bearish reversal signal. I believe price is pulling back intraday bullish, but this push isn't very strong. Another daily rejection at the high will trigger a short setup for me.
XAUUSD Breaking Resistance? 08.06.2023XAUUSD has moved rapidly downwards yesterday after 17:00 (GMT+3) when the USD appreciated greatly.
It has not yet fully retraced to the expected 61.8 FE level after finding significant support.
As indicated on the chart, breaking the resistance is essential for a confirmation of a further retracement back to the 30-period MA.
__________________________
Information Regarding Important News and Figures can be found here in our Economic Calendar: mau.bdswiss.com/economic-calenda...
Risk Warning: Trading in CFDs is highly speculative and carries a high level of risk. It is possible to lose all of your invested capital. These products may not be suitable for everyone, and you should ensure that you fully understand the risks taking into consideration your investment objectives, level of experience, personal circumstances as well as personal resources. Speculate only with funds that you can afford to lose. Seek independent advice if necessary. Please refer to our Risk Disclosure.
BDSwiss is a trading name of BDS Markets and BDS Ltd.
BDS Markets is a company incorporated under the laws of the Republic of Mauritius and is authorized and regulated by the Financial Services Commission of Mauritius ( FSC ) under license number C116016172, address: 6th Floor, Tower 1, Nexteracom Building 72201 Ebene.
BDS Ltd is authorized and regulated by the Financial Services Authority Seychelles (FSA) under license number SD047, address: Tenancy 10, Marina House, Eden Island, Mahe. Payment transactions are managed by BDS Markets (Registration number: 143350).
DXY sellDollar Index Has taken a resistance over H1 Resistance and heading downwards now we have a 1:2 R:R which seems to be accomplished as Dxy made a move downwards it has given a marubozu candle near H1 resistance both the confluances made us think that the currency have downwards rally
USDCAD - Looking To Sell Pullbacks In The Short TermH4 - Bearish trend pattern.
Lower lows.
Currently it looks like a pullback is happening.
Until the two strong resistance zones hold my short term view remains bearish here.
CHFJPY Short Term Sell IdeaH4 - Bearish divergence.
Lower lows.
No opposite signs.
H1 - Bearish trend pattern.
Until the two strong resistance zones hold my short term view remains bearish here.
Expert Tips for Successful Stocks, Futures, Fx, Crypto, Trading Price action technical analysis is a popular and effective approach to navigating the financial markets, including stocks, options, futures, Forex, Crypto, and Commodity trading. This article will provide expert tips and insights to help you successfully trade various financial instruments using price action technical analysis. By understanding and applying these concepts, you can improve your trading skills and potentially achieve greater profitability.
1. Understanding Price Action Technical Analysis
Price action technical analysis is a method of analyzing financial markets by focusing on the price movements of assets, rather than relying on indicators or other external factors. This approach is based on the belief that historical price movements can provide valuable insights into future price trends and potential trading opportunities.
Importance of Price Action
Price action is the most direct and real-time reflection of the market's sentiment and the forces driving it. By studying price action, traders can gain a deeper understanding of the market dynamics and make more informed trading decisions. With practice, traders can develop an intuitive sense of the market's behavior, allowing them to quickly adapt to changing conditions and capitalize on opportunities.
Key Concepts in Price Action Technical Analysis
There are several key concepts in price action technical analysis that traders must understand to effectively navigate the markets. These include support, resistance, trend, and fibonacci levels. By mastering these concepts, traders can identify potential entry and exit points, manage risk, and maximize profits.
2. Analyzing Stocks with Price Action Technical Analysis
Stocks are a popular financial instrument for traders, and price action technical analysis can be particularly useful for identifying potential opportunities in this market. By analyzing the price movements of stocks, traders can gain insights into the underlying forces driving the market and make more informed decisions about when to buy or sell.
Identifying Support and Resistance Levels
Support and resistance levels are critical concepts in price action technical analysis. These levels represent psychological barriers where the forces of supply and demand meet. When the price of a stock reaches a support or resistance level, it often experiences a reversal or a consolidation before continuing its trend.
Support
Support is a price level where the stock's downward movement is halted due to the presence of a strong buying interest. When a stock reaches a support level, it is likely to experience a bounce or a temporary pause in its downward trend.
Resistance
Resistance, on the other hand, is a price level where the stock's upward movement is halted due to the presence of strong selling interest. When a stock reaches a resistance level, it is likely to experience a pullback or a temporary pause in its upward trend.
Identifying Trends
Trends are an essential aspect of price action technical analysis, as they provide traders with a directional bias for their trades. A trend is a sustained movement in the price of a stock in a particular direction, either upward (bullish) or downward (bearish).
Uptrends
An uptrend is characterized by a series of higher highs and higher lows, indicating that the stock's price is consistently rising over time. In an uptrend, traders should generally look for buying opportunities, as the stock is likely to continue its upward trajectory.
Downtrends
A downtrend, on the other hand, is characterized by a series of lower highs and lower lows, indicating that the stock's price is consistently falling over time. In a downtrend, traders should generally look for selling opportunities, as the stock is likely to continue its downward trajectory.
Using Fibonacci Levels
Fibonacci levels are a powerful tool in price action technical analysis, as they can help traders identify potential support and resistance levels, as well as possible entry and exit points. The Fibonacci sequence is a series of numbers in which each number is the sum of the two preceding ones, starting from 0 and 1. In trading, Fibonacci retracement levels are derived from this sequence and are used to predict potential price reversals.
3. Trading Options with Price Action Technical Analysis
Options are another popular financial instrument for traders, and price action technical analysis can be used to identify potential opportunities in this market as well. By analyzing the price movements of the underlying asset, traders can make more informed decisions about when to buy or sell options contracts.
Understanding Options
Options are financial instruments that give the buyer the right, but not the obligation, to buy or sell an underlying asset at a predetermined price (called the "strike price") on or before a specified expiration date. There are two types of options: call options, which give the buyer the right to buy the underlying asset, and put options, which give the buyer the right to sell the underlying asset.
Analyzing Options with Price Action Technical Analysis
When trading options, price action technical analysis can be used to identify potential entry and exit points, as well as to manage risk. By analyzing the price movements of the underlying asset, traders can gain insights into the market dynamics and make more informed decisions about when to buy or sell options contracts.
Identifying Support and Resistance Levels
As with stocks, support and resistance levels are critical concepts in price action technical analysis for options. By identifying these levels, traders can determine potential entry and exit points for their options trades, as well as manage risk.
Identifying Trends
Trends are also essential when trading options, as they provide traders with a directional bias for their trades. By identifying the trend of the underlying asset, traders can make more informed decisions about which options contracts to buy or sell.
4. Analyzing Futures with Price Action Technical Analysis
Futures are another popular financial instrument for traders, and price action technical analysis can be used to identify potential opportunities in this market as well. By analyzing the price movements of the underlying asset, traders can make more informed decisions about when to enter or exit futures positions.
Understanding Futures
Futures are financial contracts that obligate the buyer to purchase an asset (or the seller to sell an asset) at a predetermined future date and price. Futures contracts are standardized and traded on exchanges, allowing traders to speculate on the future price movements of various assets, such as commodities, currencies, and indices.
Analyzing Futures with Price Action Technical Analysis
When trading futures, price action technical analysis can be used to identify potential entry and exit points, as well as to manage risk. By analyzing the price movements of the underlying asset, traders can gain insights into the market dynamics and make more informed decisions about when to enter or exit futures positions.
Identifying Support and Resistance Levels
As with stocks and options, support and resistance levels are critical concepts in price action technical analysis for futures. By identifying these levels, traders can determine potential entry and exit points for their futures trades, as well as manage risk.
Identifying Trends
Trends are also essential when trading futures, as they provide traders with a directional bias for their trades. By identifying the trend of the underlying asset, traders can make more informed decisions about which futures contracts to buy or sell.
5. Trading Forex with Price Action Technical Analysis
Forex, or foreign exchange, is the largest and most liquid financial market in the world, making it a popular choice for traders who want to capitalize on short-term price fluctuations. Price action technical analysis can be particularly useful for forex traders, as it allows them to identify potential trading opportunities based on the movements of currency pairs.
Understanding Forex
The Forex market is where currencies are traded, allowing traders and investors to speculate on the relative value of one currency against another. Forex trading involves the simultaneous buying of one currency and selling of another, with currency pairs representing the value of one currency relative to the other.
Analyzing Forex with Price Action Technical Analysis
When trading forex, price action technical analysis can be used to identify potential entry and exit points, as well as to manage risk. By analyzing the price movements of currency pairs, traders can gain insights into the market dynamics and make more informed decisions about when to enter or exit forex positions.
Identifying Support and Resistance Levels
As with other financial instruments, support and resistance levels are critical concepts in price action technical analysis for forex. By identifying these levels, traders can determine potential entry and exit points for their forex trades, as well as manage risk.
Identifying Trends
Trends are also essential when trading forex, as they provide traders with a directional bias for their trades. By identifying the trend of a currency pair, traders can make more informed decisions about which forex positions to take.
6. Trading Crypto with Price Action Technical Analysis
Cryptocurrencies, such as Bitcoin and Ethereum, have gained significant popularity in recent years, offering traders another market to navigate using price action technical analysis. By analyzing the price movements of cryptocurrencies, traders can identify potential trading opportunities and make more informed decisions about when to enter or exit positions.
Understanding Crypto
Cryptocurrencies are digital or virtual currencies that use cryptography for security and operate on a decentralized network, such as a blockchain. These digital assets have gained popularity due to their potential for significant price appreciation, as well as their use as an alternative to traditional currencies.
Analyzing Crypto with Price Action Technical Analysis
When trading cryptocurrencies, price action technical analysis can be used to identify potential entry and exit points, as well as to manage risk. By analyzing the price movements of cryptocurrencies, traders can gain insights into the market dynamics and make more informed decisions about when to enter or exit crypto positions.
Identifying Support and Resistance Levels
As with other financial instruments, support and resistance levels are critical concepts in price action technical analysis for cryptocurrencies. By identifying these levels, traders can determine potential entry and exit points for their crypto trades, as well as manage risk.
Identifying Trends
Trends are also essential when trading cryptocurrencies, as they provide traders with a directional bias for their trades. By identifying the trend of a cryptocurrency, traders can make more informed decisions about which crypto positions to take.
7. Trading Commodities with Price Action Technical Analysis
Commodities, such as gold, oil, and agricultural products, are another popular market for traders who want to utilize price action technical analysis. By analyzing the price movements of commodities, traders can identify potential trading opportunities and make more informed decisions about when to enter or exit positions.
Understanding Commodities
Commodities are basic goods that are either grown, mined, or otherwise produced, and are used as inputs in the production of other goods or services. Commodity markets allow traders and investors to speculate on the future price movements of these goods, as well as hedge against potential price fluctuations.
Analyzing Commodities with Price Action Technical Analysis
When trading commodities, price action technical analysis can be used to identify potential entry and exit points, as well as to manage risk. By analyzing the price movements of commodities, traders can gain insights into the market dynamics and make more informed decisions about when to enter or exit commodity positions.
Identifying Support and Resistance Levels
As with other financial instruments, support and resistance levels are critical concepts in price action technical analysis for commodities. By identifying these levels, traders can determine potential entry and exit points for their commodity trades, as well as manage risk.
Identifying Trends
Trends are also essential when trading commodities, as they provide traders with a directional bias for their trades. By identifying the trend of a commodity, traders can make more informed decisions about which commodity positions to take.
8. Risk Management in Price Action Technical Analysis
Risk management is a crucial aspect of successful trading, regardless of the financial instrument being traded. By employing effective risk management strategies, traders can minimize potential losses and maximize their chances of success.
Setting Stop Losses
One of the most important risk management tools in price action technical analysis is the use of stop losses. A stop loss is an order to close a trade at a predetermined level if the market moves against the trader's position. By setting a stop loss, traders can limit their potential losses and prevent large drawdowns in their trading accounts.
Position Sizing
Another critical aspect of risk management is position sizing, which involves determining the appropriate size of a trade based on the trader's account size and risk tolerance. By using proper position sizing techniques, traders can avoid overexposure to any single trade and maintain a balanced portfolio.
9. Developing a Trading Plan
A successful trading strategy requires a solid trading plan, which outlines the trader's goals, risk tolerance, and specific trading rules. By developing a comprehensive trading plan, traders can maintain discipline and consistency in their trading decisions, leading to improved results over time.
Establishing Trading Goals
The first step in developing a trading plan is to establish clear trading goals, which can include both short-term and long-term objectives. These goals should be realistic, achievable, and aligned with the trader's overall financial objectives.
Defining Risk Tolerance
Another essential aspect of a trading plan is defining the trader's risk tolerance, which involves determining the level of risk the trader is willing to accept in pursuit of their trading goals. By clearly defining their risk tolerance, traders can make more informed decisions about their trading strategies and ensure that they are not taking on excessive risk.
Creating Trading Rules
Finally, a well-developed trading plan should include specific trading rules that govern the trader's actions in the market. These rules should be based on the trader's analysis of price action and other relevant factors and should be consistently followed to ensure discipline and consistency in the trader's decision-making process.
10. Continuous Improvement and Education
Successful trading requires continuous learning and improvement, as the financial markets are constantly evolving and presenting new challenges and opportunities. By staying informed about market developments and continually refining their trading skills, traders can adapt to changing conditions and enhance their overall trading performance.
Reviewing and Analyzing Trades
One of the most effective ways to improve as a trader is to regularly review and analyze past trades. By examining the trades that were successful, as well as those that resulted in losses, traders can identify areas for improvement and make adjustments to their trading strategies as needed.
Seeking Educational Resources
There are many educational resources available to traders from ChartPros, including eBooks, online courses, and webinars. By actively seeking out these resources and continuing to expand their knowledge of the markets and trading techniques, traders can stay ahead of the curve and improve their chances of success.
In conclusion...
Navigating the markets with price action technical analysis is a powerful approach to trading various financial instruments, including stocks, options, futures, Forex, Crypto, and Commodity trading. By mastering the key concepts of price action technical analysis, such as support, resistance, trends, and Fibonacci levels, traders can improve their trading skills and potentially achieve greater profitability. Continuous education and improvement are essential to staying ahead in the ever-changing financial markets.
🔥 Bitcoin Short-Term Overview: Watch This Resistance!As of the US market open a moment ago, Bitcoin is seeing a major pump, alongside the stock markets.
This pump is obviously great for bulls, but it remains to be seen if the bulls will actually carry through this time.
As seen on the chart, BTC has been bouncing off the purple resistance for over a week at this point. My best guess would be that this resistance will cause some trouble for bulls, as it's a great entry point for shorts to enter.
If the buyers can push BTC through this resistance it would indicate short-term market strength at the very least, potentially even a longer-term trend reversal. For now, the top two blue targets are in play once we push through the resistance line.
The more likely case would be that the resistance will hold and cause a reversal. We've been making lower-highs for some time now, so I wouldn't be surprised if we continue to do so. Bottom blue lines are the bearish targets.
GBPCAD Short Term Sell IdeaH4 - Bearish divergence.
Most recent uptrend line breakout.
No opposite signs.
H1 - Bearish trend pattern.
Currently it looks like a pullback is happening.
Until the two strong resistance zones hold I expect the price to move lower further after pullbacks.
UK100 Short Term Sell IdeaD1 - Bearish convergence followed by a pullback,
Bearish hidden divergence.
Price is bouncing lower from a strong resistance zone.
No opposite signs.
H4 - Bearish trend pattern.
Currently it looks like a pullback is happening.
Until the two strong resistance zones hold my short term view remains bearish here.
Profit in Both Bull and Bear MarketsThe EURUSD demonstrates a clear bullish trend based on the current market conditions. As a result, trend traders may seek to capitalize on potential buying opportunities at the support level of 1.0967.
Conversely, counter-trend traders may be interested in shorting the currency pair at the resistance level of 1.1035-1.1044 while placing initial stop-loss orders above 1.1067 to minimise risk. With a well-defined plan, traders can confidently approach the market from either direction and potentially reap substantial profits.
SP500 Short Term Sell IdeaH4 - Price is bouncing lower from a strong resistance zone.
Bearish divergence.
Uptrend line breakout.
H1 - Bearish trend pattern.
Currently it looks like a pullback is happening.
Until the two strong resistance zones hold my short term view remains bearish here.
Bitcoin Point of InterestBitcoin has been on a tear in Q1 rising 70% in the first three months of the year. Price is now approaching two major resistances near 30k. The horizontal resistance and there is the diagonal from April 2021...two years ago.
I expect BTC to tag 30k before correcting down to the 25k range break. Price action there will determine whether this is a bull market or a bear market rally.
Amazon - AMZNLeft chart – daily chart / 1 year
• Resistance from the gap formed ending October 2022 at 103.96/109.77
• Support from the gap formed beginning November 2022 at 89.47/91.65
• Stock is trading between the support and resistance gaps in a sideways trend
• Decreasing volume in the last days
Right chart – weekly chart / 5 years
• Downtrend since mid-November 2022
• Downtrend supported by 50 weeks moving average
• Resistance at the 23.6% Fibonacci Retracement at 106.80
• Decreasing volume in the last weeks
Stay short as long as we don’t see a clear break of the resistance at 109.77. At that point the downtrend is broken, the Fibonacci retracement becomes a support and the gap resistance (left chart) is filled.
FCPO double supportJust a simple chart analyst. It looks like FCPO is making a rejection against the trendline and RBS (Support Become Resistance)
Tether Dominance - showing signs of pivotal movementUSDT Dominance is currently at a level of strong longer term trend SUPPORT (i.e. market resistance level).
Red circles represent contact with the current trend support which signals the selling of USDT (i.e. buys in the crypto market), with a current double bottom shown.
Green circles represent the current trend resistance hits and USDT sell-offs (crypto market rallies).
With the FOMC meeting starting today and concluding tomorrow, FED announcements will dictate "loss of this support" (market rally) or a "Bounce at support" (market sell-off).
USDCAD :TRADING ON SUPPORT AND RESISTANCE LEVELWe are doing analaysis at support and resistance level and put pending orders of sell stop and buy stop in both levels further details mention below about how to execute orders in MT4
Buy Stop Order
Entry Price:1.38503
Stop Loss:1.38154
Tp1:1.38852
Tp2:1.39201
Risk Reward 1:1
Overall Risk 2%
Sell Stop Order
Entry Price :1.36507
Stop Loss:1.36863
Tp1:1.36151
Tp2:1.35795
Risk Reward 1:1
Overall Risk 2%
AUDCAD :TRADING ON SUPPORT AND RESISTANCE LEVEL We are doing analaysis at support and resistance level and put pending orders of sell stop and buy stop in both levels further details mention below about how to execute orders in MT4
1...Buy Stop Order
Entry Price:0.91773
Stop Loss:0.91671
Tp1:0.91875
Tp2:0.91997
Risk Reward 1:1
Overall Risk 2%
2...Sell Stop Order
Entry Price :0.90861
Stop Loss:0.91043
Tp1:0.90679
Tp2:0.90497
Risk Reward 1:1
Overall Risk 2%
ON - Rising Trend [MIDTERM]- ON is in a rising trend channel in the medium long term.
- This signals increasing optimism among investors and indicates continued rise.
- ON is testing support at 75.
- This could give a positive reaction, but a downward breakthrough of 75 means a negative signal.
- The stock is assessed as technically positive for the medium long term.
USOIL-USD: POSSIBLE TRADING PLANS IN A NON-TRENDING MARKETUSOIL-USD is moving sideways in a non-trending market. In this technical analysis , two trade plans are suggested in case of bullish or bearish movement of this commodity instrument over one hour time frame. Both Long and Short Trade plans are generated from the various Support and Resistance Levels of USOIL-USD pair.
TTVHB Simple Chart AnalysisTTVHB - Rst 1.37 & 1.7 Supp 1.21
Lookout if can breakout to go 1.7 or prepare to collect at support during retracement. Either way
How to view the guidance via chart ( Refer back to pin message guidance if to trade )
Red Line = Support
Blue Line = Resistance
Light Blue = bullish/bearish pattern
Arrow = Double/Trip top/bottom
Red Chip = $$
Green Chip = XX
