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Reversals

CHFJPY TeacupThe chart shows it. I hid the indicators, but I'll keep an eye on it and see how 8:00 meets us. Based on price action, I see a teacup formation with a Price Reversal Zone at the top. I'm thinking about recent trends. It looks like it'll continue upward for some time, but we're in a reversal right now. If you can go a quick sell trade, you can probably try it. Again, check your own charts before acting I'm kinda busy today, so I can only sneak a couple mins an hour to check the charts. I'm going to try to move with the greater trend and see. But I think this may go long for some time
Long
by kayleighramesar
3
WALL STREET: Key levels and outlook for the next few weeks.I overview what are some of the possibilities and probabilities over the next few weeks for Wall Street. I compare again the current situation with that of around 2008. Preliminary action on small time frames on Weekend Wall Street, do not look exciting for a trip north on Monday. We shall have to wait and see, as Mr Trump often says. I do not know what's going to happen. Nothing here is a prediction. Nothing that happened in 2008 rules what may happen the near future.
OANDA:US30USDShort
by Captain_Walker
Simple Patterns Tutorial, The Correct Way To Trade Double Tops In this short tutorial, we will look at the three most common Double Top formations along with how to properly trade them and when/where they typically appear on a chart. Double Tops work very well as trend continuation patterns for the obvious reason that you are trading with the underlying trend (strength) in the market however, Double Tops can also be a great tool for identifying and trading trend reversals. I do not recommend trading these patterns as reversals at every support or resistance level, as trading this way will most likely not be a consistently profitable trading strategy. One method to trading these patterns as reversals is to use higher timeframes to identify important price levels. For Example- You may use the Daily chart to identify important support/resistance structure levels while using the 1hr chart to actually identify and trade the double top itself.. Every strategy should have something called conditions and criteria's for entry.. If you follow my work, you have heard me say this in the past. In the case of this example, A daily level of structure Support/Resistance would be our condition and a double top on the 1hr chart would be our criteria for entry.. You rules should state this: Condition: 1) Price must retest a daily level of support or resistance in order to look for entry criteria. Criteria: 1) After price has retested a daily level of support/resistance, I am allowed to look for a double top entry on the 60 minutes timeframe. -See example of this exact trade at bottom of description (Chart 4 and 5) Chart One: Most Common Double Tops Chart Two: Examples Of Double Top Reversals & Trend Continuation Chart Three: Double Top Trade Examples Chart Four: Daily Retest Of Support/Resistance: Chart Five: Double Top On 60 Minute Timeframe: Often, you will notice that price is up-trending on the daily chart but down-trending on the hourly charts. Many traders get confused regarding how to handle this confliction of trend.. One way to handle this is by doing what is stated above. Use a higher timeframe like the daily chart to find important price levels, and use a lower timeframe like the hourly or minute charts to trade at these levels. Just because the daily trend is up does not mean we cannot trade a double top reversal on the 1hr chart as that timeframe may be down-trending in a perfectly healthy daily uptrend.. I hope this was explained clearly, please feel free to ask me any questions you have in the comments below or via private chat & I will be happy to help. Also please let me know what double top you think is the best to trade (see chart 3) in the comments below. I will do a follow up lesson to answer this question I am asking you. I think the answer may surprise you & know it will be a AAH-HHA moment in your trading journey! If you would like to put in a request regarding what trading content you'd like to learn more about, please use the link below to submit a vote for future trading tutorials and topics! tradersnsights.myshopify.com Free Position Size Calculator: goo.gl TradersNsights Facebook: www.facebook.com Thanks Traders, as always I hope this was helpful to you!
Education
by Alec40
8
Oh the agony. The lack of humanity. You betrayed us bitcoin!So for about 6 months now we have not seen exponential growth. Call it what you will. I think I will call it a "bitcoin recession." For two quarters we have not seen the kind of positive growth we have come to expect, however, compare what we have now to this time last year and you should still be a very happy camper. If you've been HODLing of course and even if you've been trading, as long as you have more coins you are in a very good position. This brings me to my first point. We tend to have a very short memory and those poor souls that bought into BTC with out doing research just didn't see that this is perfectly normal. We have already had a drawback of approximately 70% which is slightly better than the two or three worst ever. The average cost of a bitcoin through mining, depending on country is somewhere between $531 and $26,170 so let's round and say the spread is $500 to $26000. Therefore we have a whopping grand total average of $13250. Now, if you don't think that is a baseline of where we should be I'm quite sorry. With weighted averages we might say that it's a bit lower, for instance if China is in the dominant position of mining, let's say 75%, then the average with these two numbers is quite a bit lower. If the cost in China was $500 and let's say the U.S. is $26000 then we are looking at a weighted average of $1025. Oh no, that's a dismal price for Bitcoin! Luckily, those aren't the respective prices. It's interesting that bears have pegged a downside price at around $4,000. The cost of mining in the U.S. just happens to be about $4758. Hmmm!?!? Fascinating. The problem is that at this point we know that the average cost of mining a BTC is actually around $6500 so what will cause BTC to fall below this? For reference, this was established in the first two months of the year when the cost to profit was 1:1 ratio. I haven't seen any electric bills anywhere in the world go down. When an electric corporation finds a more efficient way of producing they hold the price stable longer, but they certainly don't drop it. Same for ASIC miners and graphics cards. Demand went up and so did the price. Even though production went up the demand was simply too high. Here's what I'm trying to point out. The top chart shows the overall logarithmic growth of BTC and the bottom shows linear increasing bottoms since late 2017. Despite our current recession we are still growing positive. When I read other peoples views, I concentrate specifically on counter arguments because that's the only way to find something that I've missed. I have yet to read a reason for BTC to plummet. Let's start with Fibonacci retracements. These are potential turning points or high likely-hood of reversal points both on the low and high side. They are not the reason that something rises or falls. If they were, then we would always and forever oscillate. Pennants, flags, cups, H &S, inverse H & S are indicators again, not reasons. That's why they are only correct part of the time. I want a reason on the macro or micro-level, or a well detailed mathematical explanation of why BTC is going lower. Please keep it educational, but also please comment below.
COINBASE:BTCUSDLong
by whiprush3
EUR/USD follow up smaller time frameThe sell sentry should have been at that flag at the 124.00 level... We do have a flat pattern in which "C" is a choppy diagonal. I would like to see EU do what NU did which was make a correction to give a setup, but it may not until it goes further. It is about to test yesterday's low and pitchfork, we may get a break and extension to the 27 percent. The problem is we are at the low of a Flat pattern. Trading flats are not the highest probability trades.... With that said, we may be on the way down. Look at my NU entry and see what I mean about what I would prefer for entry. If you entered now you would just have to set your stop above 124 and run the risk. I will explain it in my weekly outlook that I will do.
Short
by thillygoosth
Retracement Trade EURUSDWhen there is no clear sentiment/fundamental move that I could trade off, trade based on different kind of fundamentals = "To make money, what had been bought, it needs to sold". Wednesdays or Thursdays always the time when the market ended their accumulation phase and start a new trend OR taking profit after several days of buying (in this case buying the Euros, now it needs to sell those by buying Dollar against it) I could still see price could make another push towards 1.8600, when that happens, my conviction for a "retracement trade" increased. At the moment I see potential double top in this session, it could be a signal of the market can start profit taking OR start a new trend (if Monday's and Tuesday's move were just a case accumulating enough EURUSD buyers for them to trade against today...)
Short
by sufiansaid
Stocks Poised to Make New Highs?The S&P appears to be testing highs this morning, looking real strong for the opening bell. It is testing the upper Bollinger Band of the Kovach Reversals Indicator. This could lead to a slight retracement, which will be confirmed by a red triangle by the indicator. The Kovach Momentum Indicators all look strong. At this point, stocks are unstoppable, buy on dips! If you're interested in the Kovach Momentum or Reversals Indicators please sign up for access at quantguy.net!
CME_MINI:ES1!Long
by quantguy
MM-Reversal-Probability-Index [MM-RPIDX]This indicator tries to show the probability of an impending reversal. It's using a number of different input signals and candle stick patterns and conditions: 6 different moving averages Averages of moving averages MACD RSI Stochastics Keltner channels Pin bar patterns Engulfment patterns The indicator is designed as an oscillator and treats positive values as a signal for an impending bearish reversal and negative points for an impending bullish reversal. At the moment it includes 46 different conditions to calculate the overall index. The 46 conditions flow into 15 signal lines which are summarized to the overall reversal index. This indicator is not just a simple line with a couple of peaks. It’s designed to interactively work with it. It's got tons of tweaking options in the settings section. Examples of usage: Use it for primary reversal detection Use it for reversal confirmation Use it for candle stick pattern detection Use alert levels to increase/decrease the number of reversal detections Detect MACD crossings Detect Moving Average crossings on different levels Detect indecisive areas of sideway chopping Examples of conditions: is there a crossing of the MACD? are there multiple MACD crossings? are there any significant crossings of moving averages? is the market chopping sideways? are there any reversal relevant candle stick patterns? did these patterns appear inside or outside the Keltner channels? are these patterns confirmed by the subsequent candle? was there a crossing of the %K and %D line of the stochastics in the last periods? is or was the RSI in the overbought or oversold zone? ... Concept: Instead of watching 10 different signal lines of indicators and candle stick patterns simultaneously I wanted to have one indicator which aggregates all (or at least a lot of) the relevant information. So the idea was to create an index and assign a specific amount of points to specific attributes or situations (e.g MACD crossed or pin bar candle stick pattern occurred and was confirmed by the subsequent candle and was outside the Keltner channels). After gathering all the information (or points) everything is boiled down to one index. Notice: there is no holy grail in TA!
by Meunier
4