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ETH - Two Levels to Long!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📔Here is a practical example on how to find your edge. According to our last educational post: Where is ETH now? It’s currently in the middle of nowhere, a no-trade zone, as we don’t have an edge. Here are the possible areas where we’d be interested in trading: 1️⃣ $2000 is a round number that intersects with a structure and trendline, making it an attractive zone to consider medium-term longs. 2️⃣ $2900 represents the previous major high and structure that the bulls need to break above to take full control. Until then, we wait!⏱️ 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
1
NEIRO - Following the Hype...Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈NEIRO has been overall bullish , trading inside the flat rising channel in orange. Moreover, it is approaching a massive round number $0.001. 🏹 The highlighted blue circle is a strong area to look for buy setups as it is the intersection of the $0.001 and lower orange trendline acting as a non-horizontal support. 📚 As per my trading style: As #NEIRO approaches the blue circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
1
AUDJPY - Strong Round Number Ahead!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈AUDJPY has been bullish trading within the flat rising channel in orange. However, currently AUDJPY is approaching a strong supply zone and round number $100. Thus, we will be looking for sell setups on lower timeframes, to be confirmed after breaking below the short-term red channel. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
1
Understanding Price Clustering in the Bitcoin Market█ Understanding Price Clustering in the Bitcoin Market Price clustering is a phenomenon where certain price levels, particularly round numbers, tend to appear more frequently in financial markets. This study focuses on how price clustering occurs in the Bitcoin market, providing insights that can be valuable for traders. █ The Psychology Behind Price Clustering One of the primary reasons behind price clustering in the Bitcoin market is the psychological impact of round numbers. Market participants often perceive prices ending in 0 or 00 as significant, which leads to a concentration of buy and sell orders around these levels. This behavior is not unique to Bitcoin; it has been observed across various financial markets, from stocks to foreign exchange. For instance, when Bitcoin prices approach a round number like $30,000 or $50,000, traders might expect strong resistance or support at these levels. This expectation can lead to increased trading activity, causing prices to cluster around these key levels. The psychological importance of these numbers can also cause traders to place stop-loss or take-profit orders around them, further reinforcing the clustering effect. █ Key Findings from the Study ⚪ Clustering Around Round Numbers: The study highlights that Bitcoin prices tend to cluster around round numbers, such as $10,000, $20,000, or $50,000. This is primarily driven by psychological barriers, where traders view these round numbers as significant price levels, leading to an increased concentration of trading activity. ⚪ Impact of Time Frames: The extent of price clustering varies significantly with the time frame. In shorter time frames (like 1-minute or 15-minute intervals), price clustering is less pronounced due to the randomness of price movements. However, as the time frame lengthens (hourly or daily), the clustering effect becomes more apparent, suggesting that traders may be more likely to anchor their strategies around these round numbers over longer periods. ⚪ Differences in Open, High, and Low Prices: The study also finds differences in clustering patterns between open, high, and low prices. High prices tend to cluster around the digits 8, 9, and 0, while low prices cluster around 1, 2, and 0. Open prices generally show less clustering, suggesting they are less influenced by immediate market psychology. This pattern suggests that traders should pay particular attention to high and low prices during trading sessions, as these are more likely to show clustering around key levels. High Price: This is the highest price that Bitcoin reaches during a specific time period (for example, during a day or an hour). The study found that high prices cluster more around certain numbers, especially numbers ending in 0 or 9. So, high prices often end in numbers like $10, $100, $1,000, or $9,999 because traders tend to react to these round numbers. Low Price: This is the lowest price Bitcoin hits during a certain time period. Similar to high prices, low prices also cluster, but more around numbers ending in 0 and 1. So, low prices might end in numbers like $10, $1,001, or $5,001. Why is there a difference? High prices tend to cluster at numbers ending in 0 or 9 because those feel like natural stopping points for traders. Low prices tend to cluster at numbers ending in 0 or 1 for similar reasons. ⚪ Price Level Influence: The study highlights that clustering behavior changes with the overall price level of Bitcoin. At lower price levels (e.g., below $10,000), there is more clustering around multiples of 5, such as $25, $50, or $75. As the price increases, the significance of these smaller increments diminishes, and clustering around larger round numbers becomes more dominant. █ Practical Insights for Retail Traders Understanding price clustering is crucial for traders because it sheds light on how market participants behave, particularly around psychologically significant price levels. These insights can help traders anticipate where the market might encounter resistance or support, allowing them to make more informed decisions. ⚪ Identify Key Psychological Levels: Retail traders can benefit from identifying and monitoring round number levels in Bitcoin prices, such as $10,000, $30,000, or $50,000. These levels are likely to act as psychological barriers, leading to increased trading activity. Understanding these levels can help traders anticipate potential support or resistance areas where price reversals may occur. ⚪ Adjust Trading Strategies Based on Time Frame: The study suggests that the effectiveness of using price clustering in trading strategies depends on the time frame. For short-term traders, clustering may be less reliable, but for those operating on longer time frames, clustering around round numbers could provide actionable signals for entry or exit points. ⚪ Focus on High and Low Prices: Retail traders should pay particular attention to clustering in high and low prices during a trading session. These prices are more likely to exhibit clustering, indicating areas where traders might place stop-loss orders or where price reversals could occur. By aligning their trades with these clusters, traders could improve their risk management. If you’re setting stop-loss orders, for instance, placing them just beyond a cluster point could help you avoid being stopped out prematurely by normal market noise. Similarly, identifying clusters at high prices could offer better opportunities for taking profits. ⚪ Consider the Overall Price Level: The level at which Bitcoin is trading also affects clustering. For example, when Bitcoin is at a lower price, traders might find opportunities by focusing on price levels ending in 5 or 0. However, as Bitcoin’s price increases, clustering becomes more concentrated around larger round numbers. Adjusting trading strategies to consider the current price level can enhance decision-making. Price Clustering at Low Levels (<$10 USD): There is significant clustering at prices ending in 0, but also notable clustering at prices ending in 5, which acts as a psychological barrier at these lower levels. Prices ending with 50 are also frequently observed as significant psychological barriers. Clustering is weaker overall at these levels compared to higher price ranges, but still noticeable at certain intervals. Price Clustering at Mid-Levels ($100–$1,000 USD): Clustering becomes more focused on round numbers like 00, 50, and 25. As prices increase, clustering around smaller numbers like 5 or 10 reduces. Larger psychological barriers, such as 100 and 500, emerge as significant points of clustering. Price Clustering at Higher Levels (≥ $10,000 USD): At these price levels, clustering becomes even more prominent around major round numbers like 10,000, 20,000, etc. The last two digits 00 become much more frequent, and there is almost no clustering at digits like 5 or 1. Clustering becomes very strong at larger round figures, with a strong psychological barrier hypothesis at play. Summary of Clustering at Different Levels: Low Prices (<$10): Clustering at 5, 10, 50, and 100. Mid Prices ($100–$1,000): Strong clustering at 00, 50, and 25. High Prices (≥$10,000): Dominant clustering around 00 and multiples of 1,000 (e.g., 10,000, 20,000). █ Conclusion Price clustering is more than just an academic concept; it’s a practical tool that can significantly enhance your trading strategy. By understanding how prices tend to cluster around psychological levels, adapting your approach based on time frames, and recognizing the impact of Bitcoin’s price level, you can make more informed trading decisions. By integrating these insights into your trading plan, you’re not only aligning your strategy with the behavior of the broader market but also positioning yourself to capitalize on key price movements. Whether you’re a seasoned trader or just starting out, the knowledge of price clustering can help you navigate the volatile Bitcoin market with greater confidence and precision. █  Reference Xin, L., Shenghong, L., & Chong, X. (2020). Price clustering in Bitcoin market—An extension. Finance Research Letters, 32, 101072. ----------------- Disclaimer This is an educational study for entertainment purposes only. The information in my Scripts/Indicators/Ideas/Algos/Systems does not constitute financial advice or a solicitation to buy or sell securities. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information. All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, backtest, or individual's trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on evaluating their financial circumstances, investment objectives, risk tolerance, and liquidity needs. My Scripts/Indicators/Ideas/Algos/Systems are only for educational purposes!
COINBASE:BTCUSDEducation
by Zeiierman
7
BTC - Key Checkpoint...Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 As per my last analysis, attached on the chart, BTC rejected the $50,000 support zone and surged by over 25%. What's next? Currently, BTC is hovering around a key rejection level and round number $60,000. For the bulls to maintain control and push towards $70,000, a break above the $60,000 level is needed. 📉 Meanwhile , the bears can still kick in for one more correction phase especially if the $59,000 support is broken downward. Which scenario do you think is more likely to happen and why? 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
2
BTC - Make or Break Zone!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 After rejecting the $70,000 round number, BTC has been overall bearish trading within the falling channel marked in red. Currently, BTC is hovering around the lower bound of the channel which is lining up perfectly with the $50,000 round number. 🏹 The highlighted blue circle is a strong rejecting area to expect the bulls to kick in from. 📉 However, if the $50,000 fails to hold, a bearish continuation towards the $40,000 demand zone would be expected. Which scenario do you think is more likely to happen and why? 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
4
Never bet against America - But it is time for a correction!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. It is true that the legend Warren Buffett says: "Never bet against America" But it is time for a correction in my opinion. I find the daily chart for US500 to be interesting as it appears to be forming one of my favorite patterns. What I call TRIO RETEST 1️⃣ => Non-Horizontal Resistance US500 has been overall bullish from a long-term perspective, trading within the rising channel in orange and currently hovering around the upper bound / orange trendline acting as a non-horizontal resistance. 2️⃣ => Overbought From a medium-term perspective, US500 has been trading inside the rising channel in red, and it is currently hovering around its upper bound / red trendline acting as an over-bought zone. 3️⃣ => Round Number Moreover, the $5,500 is a massive round number. Thus, as long as the $5,500 mark holds, I expect a bearish correction towards the lower bound of the red channel. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
CAPITALCOM:US500
by TheSignalyst
3
EUR/USD Eyeing Possible WhipsawFollowing yesterday’s FOMC-induced advance from daily support between $1.0726 and $1.0739, chart studies on the daily timeframe demonstrate the scope to navigate higher terrain until reaching a resistance zone between $1.0920 and $1.0883. Given the daily structure and having seen H1 price trading within striking distance of $1.08 support, this could prompt buyers at this level. However, with support positioned below the big figure at $1.0795, a whipsaw below $1.08 into the said support could be seen before buyers attempt to make a show.
Long
by FPMarkets
GOLD - Wait For It ⏱Hello TradingView Family / Fellow Traders, On Daily: Left Chart GOLD has been bullish trading within the flat channel in blue and it is currently hovering around the upper bound. On M30: Right Chart 📈 For the bears to take over, we need a momentum candle close below the last major low highlighted in gray. 📉 Meanwhile, XAUUSD would be bullish short-term and can still trade higher to test the $2100. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Richard Nasr
OANDA:XAUUSD
by TheSignalyst
3
BTC - Next Stop => 60,000 📍Hello TradingView Family and Fellow Traders, This is Richard, also known as theSignalyst. 📉 BTC has shown an overall bullish trend, trading within the rising broadening wedge pattern highlighted in orange. It's evident that BTC has been respecting significant round numbers, particularly the 10,000 marks. 📍 Therefore, following its breakthrough above 50,000, our next target is 60,000, coinciding with the upper boundary of the wedge pattern. 📚 Always adhere to your trading plan, especially regarding entry points, risk management, and trade execution. Wishing you all the best of luck! Remember, All Strategies Are Effective When Properly Managed! ~Rich
by TheSignalyst
22
XRP - Wait For It 🏹Hello TradingView Family / Fellow Traders, XRP has been overall bearish trading inside the falling channel in red. However it is currently approaching the lower bound of the channel and a strong support at 0.54. 📈 As long as the support holds, we will be looking for short-term buy setups on lower timeframes. 🏹 For the bulls to take over from a medium-term perspective, we need a break above the last major high at 0.625. 📉 If the 0.54 support is broken downward, we will expect further bearish movement till the 0.5 support where we will be looking for new short-term buy setups. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Richard Nasr
by TheSignalyst
1
ETH - Prepare for Takeoff ✈️ OR Brace for Impact 🛩Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. on Daily: Left Chart ETH has been overall bearish trading inside the red falling broadening wedge pattern. However, it is currently approaching the lower bound / red trendline. Moreover, the 1500.0 is a strong support, demand and round number. 🏹 So the highlighted red circle is a strong area to look for buy setups as it is the intersection of the 1500.0 and lower red trendline. on H1: Right Chart ETH is also bearish from a short-term perspective trading inside the falling blue channel. 📈For the bulls to take over, we need a break above the last high in blue. Meanwhile, ETH would remain bearish and can still test the 1500.0 round number. 📉If the 1500.0 is broken downward from Daily timeframe, expect long-term bearish continuation! 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
31
ETH - Inside The Range Again ⏱Greetings, TradingView Family! This is Richard, also known as theSignalyst. Just like BTC, ETH is currently back around the lower bound of the range. 📈 For the bulls to take over, it's crucial for ETH to surpass the 1650.0 level. If this occurs, we can expect further upward momentum toward 1700.0 blue supply zone. 📉 Meanwhile , ETH would be bearish, and if the 1600.0 is broken downward, we will expect further bearish movement till the 1500.0 Now, which scenario seems more likely to unfold next, and why? 📚 Always remember to follow your trading plan when it comes to entry, risk management, and trade management. Good luck! Remember, all strategies are good if managed properly! ~Rich
by TheSignalyst
10
XRP - Strong Rejection Zone 💪Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. As per my last analysis, attached on the chart, we were looking for buy setups around the lower blue trendline. After rejecting the upper bound of the wedge pattern, X RP is now back around the lower bound / blue trendline again. Moreover, the zone 0.5 is a strong support and round number. 🏹 So the highlighted red circle is a strong area to look for buy setups as it is the intersection of the green support and lower blue trendline. As per my trading style: As XRP is sitting around the rejection zone, I will be looking for bearish reversal setups (like a double bottom pattern, trendline break , and so on...) For example, as a simple market structure approach, to confirm bullish control we need a break above the last minor high highlighted in orange. 📚 Always remember to follow your trading plan regarding entry, risk management, and trade management. Good luck! And always remember: All strategies are good if managed properly! ~Rich
by TheSignalyst
26
ETH - The Bulls Are Still Strong Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. According to my previous analysis of ETH, the bulls maintained control as we successfully surpassed the previous significant high marked in red. 📈 The next resistance level to overcome would be around 2000, which is crucial for the bulls to assert their dominance. 📉 ETH will continue to exhibit an overall bullish trend unless the bears succeed in breaching the lower orange trendline. Which scenario do you think is more likely to happen? and why? 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
22
EURJPY - Strong Resistance 👌Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. EURJPY has been overall bullish trading inside the red rising broadening wedge pattern, however it is currently approaching the upper red trendline. Moreover, the blue zone 150.0 is a strong round number. 🏹 So the highlighted purple circle is a strong area to look for sell setups as it is the intersection of the green resistance and upper red trendline. (acting as non-horizontal resistance) As per my trading style: As EURJPY approaches the upper purple circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Short
by TheSignalyst
2
Closer look at the current S&P500 situationThis analysis shows what I am currently looking for in the market, regarding the S&P500 possible outcomes. Since my last post the bulls made a good job and prices reached the previous tops level, at a very strong resistance near 4200. But at such levels a small range is common and expected. I highlighted the zone between the orange lines, that was defined by the last top and the last bottom. I am carefully observing the movements around this small area, and I consider that the outcomes from it may lead to decisive movements. I am considering the breakout of the 4200 to be a long trade trigger, whilst the breakdown would be a short trade trigger. But while none of these cases happen I remain neutral until I can see some outcome out of this relevant resistance level. The overcoming of the 4200 zone would be the final missing confirmation of a trend reversal (from bear to bull). On the other hand, this resistance can do its job once again and hold the prices below it, keeping us in the congestion or in the bearish scenario for the next few months. It is good to note that we're close to the "sell in May" seasonality.
SP:SPX
by thessia_
1