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NIO: Pullback, not a Reversal sign.Hello traders and investors! Ok, NIO dropped sharply today, let’s see what’s going on here, and if there are reasons to panic. First, NIO dropped below our target at $ 42.51 (red line), and it hit the next support level at the $ 38.33 (purple line), and now it is reacting. The fact that it quickly filled the gap today, and it closed above the previous support at the red line is a very good sign . It shows strength. If you missed my previous NIO analysis, the link to it is below, as usual. These support levels are clearly buy zones , and the sell-off couldn’t sustain for too long. Since the trend is slightly bearish in the hourly chart, the zone of the pink line and the 21 ema are supposed to work as resistances next. Now, let’s look at the daily chart: All the lines present in this chart are support levels, which are all buy zones. When NIO loses one support level, it’ll seek the next one to attract new investors. This is how the market works, at least most of the time. Nio just hit a support level at the green line and it is doing a great candlestick pattern today. The volume is looking good, and if it closes above the 21 ema it’ll be even better. We may have a classic candlestick pattern called Piercing Line , which is usually a very good sign. But NIO must close this way. Since we are in a support level, the situation favors the bulls, as when you buy near a support level the Risk/Reward ratio is usually very good. Also, since the trend is bullish, the odds favor the bulls too, and pullbacks are just opportunities to buy. Let’s see how NIO will close today, and if you liked this analysis, remember to follow me to keep in touch with my daily updates, and please support this idea if you liked it! Thank you very much!
NYSE:NIO
by Nathan_The_Finance_Hydra
9
FUTU - Support at 41/43, good place to start building longsThis one has been pretty good to me and my subsribers us althought our first buy in was stopped out for a tiny loss but we were able to get in again and got some nice profits out of it. Now we're in a fourth wave so this could and probably will continue some more sideways if it stops at support. So, building longs slowly is the way to go imo but only if we see price stall around the marked support zone !
NASDAQ:FUTULong
by ElliottWaveBelgium
2
S&P500 - Is this just a fakeout ? Fantastic R/RThis is the SPY ETF but the count is the same for SPX too. I don't know if we're in a 3 waves correction here or in a 1,2 situation. - If price starts to go lower but in corrective fashion and doesn't invalidate the count, chances increase (by a lot) that we'll see a rally higher. - If on the other hand it keeps on going lower, I expect this to be a wave C or Y, completing a Flat correction or a WXY combination that started on September 2nd. - And if of course price goes above 269.4, this would make the Diagonal pink wave 3 the shortest motive wave hence invalidate the count and thus probably continue higher. The R/R is great and completely makes up for the low probability of this setup at this point if you want to short right away. For the more risk averse traders among you, you could wait for a sharp drop below pink wave 4 before initiating any trade or simply a 5 waves drop followed by a 3 waves correction.
AMEX:SPYShort
by ElliottWaveBelgium
2
Review of back to back CADCHF trades.Evening traders I just wanted to share two trades I've taken in the last two days on CADCHF working the 30M time frame. In previous Forex ideas I have noted using the strategy I am utilizing on the H1 time frame following trend until next signal presents. But this strategy is adaptable to how you would like to trade. In this example I have set my parameters to work to a stop loss and take profit setting. The setting is a 1:2.15 risk to reward ratio. Back tested from when I started trading this pair on March 4th in this manner you will see the results at the bottom of the screen are 79% gains on capital. This from risking 2% of capital per trade. $200 dollars was risked on these trades for a $430 dollar gain on capital. Trade one was a 31pip profit move and trade two a 29 pip profit move. For any more information on the strategy I am using please feel free to drop me a message.
by RichScott
Gold - Reversing now or one more tiny drop first ?We seem to have finished a WXY correction contained in this descending channel. A move above orange wave iv is a first sign that price is reversing but you can wait for a break above the middle channel line which would be a another bullish sign, followed by a move outside the channel. Beware though, we could see one more tiny drop down to around 1750 if the alternate count is correct and this is actually just orange wave iv.
FOREXCOM:XAUUSDLong
by ElliottWaveBelgium
4
Short setup of AUDCHF at 0.6715-0.6750 with high RR ratio Technical Analysis: On the Weekly chart, the pair has been sideways for a while, sell at the top would give me a low risk trade with high reward. entry 0.6715 stop 0.6750, target 1 is 1.5 of stop loss, target 2 is 0.6450. In addition, the downtrend line in cyan blue colour would give more odds on my side. Basically, it’s a nice structure to place this trade. However, if I got stopped out. I will look for long setups for the pullback. Plan your trade and trade your plan. Before we pull the trigger, we must know the possible scenarios. Don't focus on the money, instead focus on your trading process. The money will come into your pocket.
Short
by JICPT
2
Importance of risk management : this trade is now risk free!I took this trade and was expecting price to move 3R in my favor. However, after hitting 1R, the price just collapsed back. Even though I might loose this trade - but because of my risk management plan, this trade is already risk free for me (after it hit 1R). I cannot express enough - HAVE A RISK MANAGEMENT PLAN that works for your attitude! Risk management 1) Reduce 50% at 1R => Trade becomes risk free 2) Reduce further 25% at 2R AND move SL to break-even 3) Close trade at 3R 4) Winner = 1.75R (looser = 1R)
by makuchaku
1
NIO: Earnings tomorrow! Should we worry about it?Hello traders and investors! Tomorrow NIO will report its Earnings , and this may bring some volatility. Let’s see what’s going on here. First, NIO is failing in trading above the green line at $ 45.28, which was supposed to work as a support, and the 21 ema is flat, meaning the bull trend is weaker. This isn’t a reversal sign yet, and I see this as a natural and healthy movement. I see this green line as a quite important point for the short-term, as we have been discussing in the past few days. If you missed my previous analysis, the link to it is below, as usual . The trend is still bullish, and we have no lower highs/lower lows here, and sometimes it is good for it to take a break . But the question is, what point should I start to get worried? It depends on your strategy here, and I would look at the daily chart for more info: Honestly, if I were on NIO, I wouldn’t be worried at all, as the 21 ema is still pointing up , and we have a bull trend in the hourly and daily chart alike. If it closes above the green line would be perfect, but if it doesn’t, and retest again the 21 ema, I see no reason to panic. We had a quite bearish sign on Friday, which still could make NIO drop to the $ 37 level, but today’s reaction is frustrating the bears here. And this is one of the reasons I don’t like to short stocks like this. Just like the movement we saw on Tesla this year; we can’t underestimate a bull trend. I think now t is not the time to buy, as the Risk/Reward is not that interesting. I always prefer to buy near pullbacks, and if the Earnings bring some volatility for us, maybe we can use it in our favor. But for now, I think it is time to manage positions, and increase every time we see NIO doing a pullback. And if this idea helped you, please, support it! And follow me to keep in touch with my daily updates! Thank you very much.
NYSE:NIO
by Nathan_The_Finance_Hydra
10
EUR/USD 100 PIPS BUY SETUP WITH 1:5 RISK TO REWARDAfter a wonderful short setup on the previous post we expected price to test liquidity level to confirm continuation with overall trend to upside. ---->Price has broke the counter trend line which is also forming "higher lows" ----> Price respecting the 50% fib level which is the golden fibonacci level. ----> the dollar index show weakness to upside and we could see price now for eurusd continue to upside Key areas to watch for target to be achieved --->resistance level around 1.18250 level which is a highly point of control of the market and that give as a risk to reward of 1;1.3 in case we break that level we could see price continue to upside. 1.19000 level which gives us a nice risk to reward of 1:5 ---> If price close below 1.17850 level the the trade becomes invalid. also have an eye of how market react cause it is friday
Long
by ShinForex1
USDMXN - Peso - Short & Longer term view.Technical & Fundamental View: Fundamental View: Longer term I do see dollar weakening this doesn't mean it's going to 0 and we all jump into crypto's! Just personal opinion but I do think the further QE we have inflation target of 2% DEC FOMC meeting is something I am very interested in and how large will the QE be and given the great vaccine news ..It's something to think about. QE and other tools they have, they are basic tools that are used within economic cycle, which you can research in your spare time and if you would like to know good books regarding that, message me privately or comment down below I'd be sure to help. I see further decline in the dollar longer term due many fundamental factors as I stared and you can read my last post on EUR. However, when trading think of good R/R. We are in range bound areas, in most of the G10 currencies, just look at the euro 1.16-1.19 for good solid few months...! But I am not jumping into the market. When the market is range bound in technical stand point its going to break out eventually but short term, take advantage of the intra-day set ups for this example: I have been long Peso since 20.25353 for few days it didn't move yes frustrating but then it spiked higher on lower time frame I saw bullish formation, now my target are next resistance areas 20.800 areas. Does this mean you jump in right now? No - Do what your trade plan says, when I look at trades I personally look at good R/R this trade still does have potential. Technical analysis - Long and short term: Key support: 20.14100 Key resistance: 20.80200 & 21.11600 Short term formation: Small Channel resistance is 20.800 areas (It can be seen Longer term formation: Bear flag Short term view: Up towards 21.800 Areas (Good resistance Zone) and if it edges higher keep an eye on 200 EMA. Long term view: Further decline towards retesting 20.14100 areas and perhaps decline longer term to lower areas of 20.000 areas which matches 161.8 Fib Retracement. Remember, market moves in waves! Key tip: Follow your own trade plan & Journal your trades (Remember - Just a trade idea, not a recommendation).
by Trade_Journal
DADA - Up it goes 45.8 first, 58.8 nextThis is a follow up to my previous post you can check out below. Bullish view is intact as this one (any many other Chinese stocks) have held perfectly during current market correction. As long as invalidation holds, I see no reason to not have a position here and in Chinese stocks in general (other good one for exemple is ZI) Previous post: Don't forget to follow and give a thumbs up if you like my content. The more you appreciate my work, the more I'll share for free.
NASDAQ:DADALong
by ElliottWaveBelgium
BTC Dancing In Triangle!Hello Community! Before we begin please support my idea with a thumbs up and a comment. It'll be greatly appreciated and will motivate me to post a little more! Lets keep it simple. When taking a look at BTC/USDT we see it trading in a triangle. Bulls and bears respect these zones until it reaches close to the end where a decision needs to be made. Personally i think it can go either way but i'm leaning more towards the bullish side. Lets watch closely and see exactly how this plays out in the next 24 hrs. Each line is an area of value where you can enter a quick short position or long. remember to use your stops and good luck! This is not Financial advice. Safe Trading Calculate Your Risk/Reward & Collect! Simplicity Win
BITSTAMP:BTCUSD
by rnaofs
2
Proving Your Trading System with BacktestingWouldn’t it be great to see the future? To see where turning points in price will occur with a high degree of accuracy? To see if a trading system that you developed or bought or learned actually works? Well, you can, with a method called BACKTESTING.  Backtesting performs three important functions: 1: It helps you IDENTIFY the reliability / win rate of your trading system over time. 2: It helps develop and reinforce the muscle memory you need to EXECUTE opportunities in your trading strategy 3: It helps you continually REFINE / improve your strategy as you observe it work against price action, ultimately increasing your "hit rate" as a professional trader. The first requirement of a trading system is that it works via RULES. There are no 'hunches' in the market... the market has *specific* behavior patterns and our job as traders is to recognize those patterns and *capitalize* on them. Backtesting has three important requirements: The first requirement is that your trading platform supports backtesting. Can you go back "x" amount of time and look at the timeframe(s) you need to make the decisions you would have made if you were "in the moment" in an efficient manner in order for you to simulate hundreds of trade setups? The second requirement is that *you* are willing to put the energy and work into testing your trading system within an inch of its life before you risk a single penny of your trading capital. You need to know WHEN the system works, WHERE the system fails, and WHY the system worked and failed when it did, and that takes hundreds (if not thousands!) of simulated trades to do so. As you are observing the system in action you will begin to "see" the patterns in a new light. It will become more and more intuitive and you will find opportunities to 'tweak' the system as you go along. You will identify patterns when trades fail and stop trading that pattern. You will see opportunities that got away and you can 'tweak' your system to take advantage of those opportunities. Most importantly, you will see whether the system even works reliably at all and ditch it if it doesn't. It may be frustrating to decide to do so, but the good news is you will not have lost a single penny trading a faulty system to begin with! TRACKING YOUR TRADING SYSTEM To track the accuracy of your trading system you will need to setup a spreadsheet that will record the important variables you want to track. For example, you may want to include the headers, Asset / Date / Time In / Time Out / Long or Short / Reward to Risk Ratio / Gain or Loss / Account Balance The "Reward to Risk Ratio" column is the most important. If you read my previous column, "Trade Like a Pirate" ... ... I discuss that you need to think in terms of Percent Risk per trade ("R") and not Dollars. This will show you how well your strategy works. For Example, if after tracking 100 trades you find out that your system has a 33% success rate, your account will grow by 1% for every three trades if you follow a minimum 3:1 Reward to Risk Ratio (3 -1 -1 = +1). If you find on average 6 trades per day, your account can potentially grow by 2% per day. Under the "Account Balance" column, if you add the trade's win/loss to your previous account balance you can determine how long it would take to get 'x' amount of money from where you started (or how long it will take and inferior system to lose it all as well!) Testing your trading system also shows you how many opportunities present themselves per day / per hour and when the best time is to go 'fishing' for trades. Backtesting might tell you that you need to wake up 2 hours earlier (and go to bed 2 hours earlier) if you want to achieve the goal of replacing your car in 6 months. Or fire your boss in 24 months. Or pay off the mortgage in 3 years. Having a plan to *make* money should also include your plans on how and when you want to *spend* that money - how you will 'pay yourself'. Socrates famously said “The unexamined life is not worth living.” Likewise the unexamined trading system is not worth putting your hard earned money into. The more you backtest your system, the more you will gain (or lose) confidence in the system which will ultimately determine the actions you will take. Another happy by-product is that not only will you be able to refine your trading system, but you yourself will be continually refined in the fire of the market, exercising your mental muscles looking for opportunities that meet your particular trading system. For instance, by analyzing all my losing trades in my first batch of 100, I was able to identity a pattern in the formations common to all failing trades but not winning trades. I then modified my trading system to exclude trades which showed that pattern, increasing my success rate by 30% in the next 100 trades I tested with the new system. Not happy with that, I went through my losing trades from Round 2 and found another common pattern among them. Eliminating those, I modified my system and increased my success rate by yet another 20%. Finding what works is often a product of finding out what doesn't work, and just stop doing that! If you need advice on how to stop a bad habit, just listen to Bob Newhart: www.youtube.com Finally, just as any athlete will you tell you that you should "Warm Up" before performing any strenuous exercise, one thing my backtesting system has taught me is that I need to spend the first 30 minutes of my trading day "warming up" by finding all the opportunities that presented themselves in the Futures market during the overnight session and log them in my spreadsheet. Likewise at the end of the day I look at all opportunities I might have missed so I can reduce the likelihood of missing them again. The original title of this article was "Backtesting to the Future" which reflected this habit: by 'warming up' before actually trading I got my mind prepared to "see the opportunities" for the future day ahead, and I identified these patterns a lot better than I would have if I entered the pool cold and experienced the 'cramp' of a losing trade. Admittedly, backtesting a highly visual concept, so I will be following up this article with a video showing an example of my backtesting strategy and how you can model my system to meet the needs of *your* system. As I love to say, "Good artists copy, great artists steal." Likewise, "Good traders copy... Great traders steal." I hope you can steal some of these ideas and have them help improve your trading game! Share your thoughts and success below! As always, I'd love to hear if this has helped you become more confident and profitable in your trading. Like and Follow if you haven't already and you will be alerted to when I post the followup video! Trade hard and trade well!
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Education
by ocaptain
105