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Roundnumber

DOGE support zone 🚀Based on the chart, the price is close to round number (0.10) and two support area and one weekly trend line ✔️ we can see more gain from here or after brief correction from the round number 🚀 if the price breaks the weekly trend line to the upside, we can see more gain 🚀🚀 if the price breaks the round number, we will see more correction to the downside ❌🧨 Please, feel free to ask your question, write it in the comments below, and I will answer.🐋
Long
by MadWhale
6
BITCOIN round number and stop loss hunting 📚📖Today we are going through the brief technical explanation about the round numbers and stop loss hunting round numbers: the round number end in a zero, and have a tendency to attract orders and most of the time attracts many traders and they choose these points for entering and closing the position Point: For open position on round number the proper point for entering to trade is near the round number and not exactly on round number For example: For opening long position(buying) , your entry point should be above the round number and For opening short position(selling) your entry point should be below the round number. Pay attention to the BITCOIN price near the round number 40000 : If you want to open long position it's better to put your entry point above this round number but important point is that if this round number touches usually we have stop loss hunting and it is better to put your stop loss in proper place below the round numbers. Stop loss hunting: It is a strategy that makes market participants out of their position by driving the price to the area that many traders choose to set a stop loss there. For example: here on round number of 40000 we can expect that stop hunting happens and if someone wants to open long position on BITCOIN it is better to put stop loss below the round number with considering 3 percent penetration and if the price breaks this area the support becomes invalid. 🐳MAD WHALE🐋 This is not financial advice, always do your own research. please, fell free to ask your question, write it in comments below and I will answer. 🐋
BITSTAMP:BTCUSDEducation
by MadWhale
13
PALLADIUM - Potential Bullish Reversal!Hello TradingView Family, this is Richard, if you like the idea, do not forget to support with a like or/and comment. PA1! is sitting around a strong support area and round number 2000.0 so we will be looking for buy setups on lower timeframes. on H4: PA1! is forming a wedge pattern in red but the upper trendline is not valid yet, so we are waiting for a new swing high to form around it to consider it our trigger swing. (projection in purple) Trigger => Waiting for that swing to form and then buy after a momentum candle close above it (gray zone) Meanwhile, until the buy is activated , PA1! would be overall bearish can still trade lower. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
NYMEX:PA1!Long
by TheSignalyst
13
ALGO - Potential Bullish Continuation!Hello everyone, if you like the idea, do not forget to support with a like and follow. ALGO is trying to break the orange support/resistance again. on H4: ALGO is forming a symmetrical triangle in blue but the upper trendline is not valid yet, so we are waiting for a new swing high to form around it to consider it our trigger swing. (projection in purple) Trigger => Waiting for that swing to form and then buy after a momentum candle close above the gray zone. Meanwhile, until the buy is activated, ALGO would be overall bearish can still trade lower. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
BINANCE:ALGOUSDLong
by TheSignalyst
27
IDEA - Potential Bullish Reversal!Hello everyone, if you like the idea, do not forget to support with a like and follow. IDEA is approaching a support zone so we will be looking for buy setups on lower timeframes. on H4: IDEA is forming a channel in blue but the upper trendline is not valid yet, so we are waiting for a new swing high to form around it to consider it our trigger swing. (projection in purple) Trigger => Waiting for that swing to form and then buy after a momentum candle close above it (gray zone) Meanwhile, until the buy is activated, IDEA would be overall bearish can still trade lower inside the channel and test 0.10 before going up. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Long
by TheSignalyst
17
FTM - Trend-Following Setup!Hello everyone, if you like the idea, do not forget to support with a like and follow. FTM is overall bullish , broke above the 2.0 round number, and now retesting it, so we will be looking for buy setups on lower timeframes. on H1: FTM is forming a channel in red but the upper trendline is not valid yet, so we are waiting for a new swing high to form around it to consider it our trigger swing. (projection in purple) Trigger => Waiting for that swing to form and then buy after a momentum candle close above it (gray zone) Meanwhile, until the buy is activated, FTM would be overall bearish can still trade lower. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
FLong
by TheSignalyst
24
ADA - Wait For The Trigger!Hello everyone, if you like the idea, do not forget to support with a like and follow. ADA is sitting around the round number 2.0 in green so we will be looking for buy setups on lower timeframes. on H4: ADA formed a valid trendline in red but the setup is not ready to go yet. Before we buy, we want the bulls to prove that they are taking over. Trigger => Waiting for a momentum candle close above the last high in gray to buy. Meanwhile, until the buy is activated, ADA would be overall bearish can still trade lower and break below the 2.0 round number. In this case, the bears would take over, we will be looking for new buy setups to form as it approaches the blue support zone around 1.50 Good luck! All Strategies Are Good; If Managed Properly! ~Rich
BINANCE:ADAUSDLong
by TheSignalyst
23
EURUSD H1 Chart Analysis & IdeaAs the EURUSD resets for the next trading week, price closes at 1.1795, inside a contraction level zone around 1.182/1.178, nearest demand zone around 1.172/1.168, nearest supply zone around 1.188/1.192, with weekly close reset trading range between 1.19 & 1.17, these are the areas of interest in this chart as of the week close. For price action, there's this wedge-like structure forming up on the hourly, and on the zoomed-out 4-hourly there's a established descending parallel channel getting escaped to the upside, maybe some more downside is possible, but only to grab liquidity further down and then move for higher prices, as this market finds a demand imbalance.
E
by acsedward
BTC first attempt to go below 30k... Today we witnessed the first attempt for BTC to go below, in humble opinion it is normal scenario and it should create fake signal for uptrend. I suspect that when BTC went below 30k it wiped out loads of stop losses which pushed price higher. 200 Ema should dump price in next weeks or days. Be aware that full moon is in next 4 days which is very important when dealing with financial markets. In short there is a higher activity with buying or selling during this period of time. I think that if BTC will not go below 30k during full moon this could create very solid support to rely on for the next month or so. to be clear here I am like 80% sure that BTC will go below 30k and will attempt to reach 20k but if it will not in the next weeks or days I would observe how the price will react to the upper resistance/support area of the channel.
Short
by Krystiannwk
1
BABA - Wait For The Trigger!Hello everyone, if you like the idea, do not forget to support with a like and follow. BABA is sitting around strong weekly support and round number 200.0 in green so we will be looking for buy setups. on H4: BABA formed a valid channel in red but it is not ready to go yet. Before we buy, we want the buyers to prove that they are taking over again. You don't want to buy a bearish market right? Trigger => Waiting for a momentum candle close above the last swing high (in gray) to buy. Meanwhile, until the buy is activated, BABA would be overall bearish can still trade lower. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
NYSE:BABALong
by TheSignalyst
20
Zigzag Circles Strategy Test 1st April → 6th June@LonesomeTheBlue has recently published an interesting script LTB Zigzag Circles . I got curious about its performance, so I tinkered out a strategy and tested it out on GBPUSD. I will use ZigZag Circles with a period of 14 on a 30m timeframe. Furthermore, I will utilize round levels to place my entries, exits, and stops. When there is a bullish signal: ► a limit entry is placed at the nearest-below x000, x200, x500, or x800 level. ► a stop-loss is placed halfway through to another such level below. ► a take-profit will be at the nearest x000, x200, x500, or x800 level to the upside. When there is a bearish signal: ► a limit entry is placed at the nearest-above x000, x200, x500, or x800 level. ► a stop-loss is placed halfway through to another such level above. ► a take-profit will be at the nearest x00, x200, x500, or x800 level to the downside (check the first picture for clarification, round levels are shown in gray) #1 A first entry signal at 17:00 Look at the limit order. A limit is right before 1.38200, the exit before 1.38500, the stop-loss between 1.38000 and 1.38200. #1 A first order is closed in profit in roughly 12 hours #2 A second position opened and closed according to rules #Not All Entries Trigger Obviously, I didn't leave the entry orders hanging out there forever. #3 A first loser This is how a lost trade looked like. #5, #6 A little problematic area This is a problem you might encounter with LTB Zigzag Circles. Signals point in both directions... I wouldn't take the long one as the signal is far from my level, but during the backtest, I follow the rules. Hence a win and a loss. #8, #9, #10, #11 a series of losses in a consolidation area When the price keeps on contracting, there might be several false signals in a row. Even though you may still see some respect for the x500 zone, the bounces are small and not enough to reach the profits. In real trading, the entries could be identified as unconvincing and avoided. #14, #15 Two winners in a row Although the stop-loss was dangerously close to where the price once was for the first one, this is how the winners in a row might look like. #22 Another problematic situation Lastly, I wanted to put attention to this imaginary trade. The very point of using limit orders in this test is to make sure I have enough time to get the signal and evaluate its quality. I do believe, there wouldn't be enough time to open a position from a level designated by rules. So I put it on the nearest one below. I know I wouldn't want to take that trade after I was notified at the candle's close. If you would, count it as a loss. Conclusions 37 trades were open since the beginning of April, out of which 44% were profitable with an accumulated profit of 1141 ticks . When backtesting, I like to subtract 3 pips from every trade to give it a better feel of the real world. You make mistakes and you also pay spreads and fees. If I subtract 3 pips from every single trade, the strategy will still be profitable, but barely. It's 91 ticks only. Of course, the real spread is smaller than that, so this is a good result also. Lastly, I saw the price to continue in the direction of the trade far exceeding its original take profit. With advanced trade management (which can not be backtested easily), profits would be higher. Remember, that 37 trades is a narrow sample size. It is enough to give you an idea of what parts of the strategy to improve. But for accurate statistics, you should test your strategy 180+ times.
by OrcChieftain
6