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EURCAD NeutralYellow zones- critical zones based on the monthly time frame Red zones- critical zones based on the daily time frame Blue zones – critical zones based on the 4h time frame From last week’s COT report we can notice a hold in the progress of bullish contracts for the Euro . Right now, they are at a record high (345k) so a reverse in the bearish direction is most likely to happen in the near future. While the CAD shows signs for a rapid increase in the “long” contracts. Since my last report on this pair, the price respected a few more times our wide-angle formation. For more than 3 weeks we are also in a consolidation inside our wide-angle formation. NOW: There are a few paths the price can take in the upcoming week. 1. Respecting the wide-angle and consolidation, which aligns almost perfectly and going towards the monthly critical in order to form a W formation. Matching with them is the golden 0.618 Fibonacci level, where additional buyer’s support may come in. With this new formation a possible break over the monthly critical is possible. 2. The second possibility is for the price to break our wide-angle formation and consolidation. In this case a move towards the daily critical and afterwards towards the monthly critical are most likely to happen.
by SigmaTrading
Bitcoin - Oil and viruses don't mixLast week we were taken out of the trade by our stop losses, on my last post we talked about that if BTC dipped down to $8500 it needed to dip down quickly and move back up quicker otherwise momentum would be lost, we even had an $8200 buy order. What went wrong? We did have a dip down but it was very slow and the recovery was very slow as well and unconvincing. Combine these factors and you get a big red flag. Another warning signal was when price failed to go over the 50MA on the daily chart after trying for a couple of days. You have to take warnings like this seriously and accept when your trade has gone sideways. The very first warning signal was given by the 20MA on the daily chart last month on the 26th. What I want you all to understand is that price is not just going to melt down out thin air on you, warnings and red flags begin to pile up giving you enough time to make choices. Even if price is going up you'll know when things are about to go south. Last week Friday, the signals went out that this trade had come to an end, just a day later price started to drop. On the weekly chart, you can see we have melted below the trendline if we close or stay below this line we will see a further drop. WHATS NEXT? As mentioned before now we begin to map out where to jump in again. As I did previously, the point is to catch it on key entry places on its way down until you nail the lowest safest entry point. This means you have to be patient and disciplined. Right now there are 3 places that we will talk about later. There is also one scenario that will create a perfect set up for alts which I've been looking forward to for a couple of years. If price continues to melt it will create the perfect conditions for this scenario to play out. WHAT'S CAUSING THIS PRICE DROP Market instability caused by two major events (Oil prices and the virus), BTC and consequently crypto, in general, were part of the Sunday sell-off. Oil dropped by an amazing amount (30%.) We also have a long week ahead in which we have to keep an eye on the Dow and Nasdaq to see if institutional money moves to safety some more. I would bet this is going to be a volatile week. The United States is completely unprepared and has no plan for the Coronavirus, this will create more market instability leading to bigger sell-offs. If the WHO declares COVID-19 a pandemic it will create more instability. VERY IMPORTANT: Hitting the "Like" button is like a tip, please don't forget to do so after reading, this is your way of thanking me for my time and so I thank you for yours.
by cryptoGats
82
EurUsd ' Trend himself replying.Welcome. Hello everyone. Here is my technical analis about this EUR/USD. Okay Let's start {Review}. What we can see here first, is two same pattern on one pair, near period. I call this strategy 'Trend replay'. It's not new. But meybe little bit I made changes. Interesting this is, as we can see P1 looks mutch bigger than P2 . Right? It's more large with period too. It's looks like short version of P1. P2 is a similar movement but with a prediction about where the trend will go next, based on P1's next trend continiew. If we check technicaly will see there is 4 times drop down on p1 and also 4 times already drop down on p2. That mean's this two figure scaled in chart. Is similar more than 90% with forms, drops and patterns. But what we dont know 100% is if the trend will do it again one more. It's looks like we are waiting for 5/5 because we already know we have 4/4. So if we check this Strategy like a Bet or Double kind of system, yes we have 90% chance to got 5/5. But right now and situations like this, our trend is complated only 4/5. Actualy this strategy is cool. Because when you are trying to find similar moverment like this one on this chart. You start rendgering whole graphs. Also this will be great tool for improve technical analys skills to. It's kind of Proffesional traders views and strategys. Because no all members of tradingivew have skill for got it full or how to work with. Thank you. Enjoy.
Long
by fxCROWN
Why I do not like breakouts (even if they are great)As you can see on this chart there were a couple of great breakouts, that went straight in the right direction. We also know that trying to catch tops & bottoms is a noob trap, with all the really ungifted new traders that are 95% certain to fail & quit obssessed with catching bottoms (go check the Bitcoin bull community they have a new bottom every 3 months). So why don't I like breakouts that much? Here is my list of reasons: 1- Even after a couple of years, I prefer to stick to 1 group of strategies and really perfect them, become a sniper, rather than chase opportunities all the time and risk going insane (meaning overtrading). That's definitely happening, a way or another. 2- The majority of us that do not work at citadel etc, are competing against traders with a big information and speed edge. Not only are there directly connected to the exchange and can execute faster than lightning while your order goes throught the internet, but they also have access to alot of the order flow (for forex banks legally simply just have it, and for stocks you got brokers selling their retail clients order flow in exchange for "free" commissions. Not sure about CME futures, might be the only ones "safe"). Your competition will KNOW FOR A FACT there is a breakout long before you. You might be able to set an order with your broker to buy a breakout but it's going to get executed like a turtle far after hft firms and other people using unfair advantages. When you enter on a bottom if it break below you are out and don't have to worry, but in this case, winners have this tendency to go your way very quickly and you have to react fast. And of course your orders have to be set in advance no other way no one can be fast enough. With a rounded bottom accumulation type, you have plenty of time... Feels like a race, with a big disadvantage. 3- Which brings us to step 3. You will get scammed all the time. Currency markets are curious, they love to go test levels before continuing in a trend. Unless you want to have very wide stops and a bad reward to risk, the market will stop you out over and over and over and over and over before going in your direction. I can just look at any chart and see it all over. Rather than whine about what a scam this is, why not simply take the opposite side? If the price breaks, then you place an order very far away in case it pumps like this... As close as free money we can make it without straight up profiting of a bug with a broker. 4- If you buy bottoms with the price pumping your way you are likely to experience POSITIVE slippage, with breakouts (in particular with cotadel front running you) you are likely to experience NEGATIVE slippage. 5- You will never get the whole meat of the move (but if you go for pullbacks and bottoms, you might) Not a very important point because in practice you're not drowning in profits from giant winners with buying bottoms, but nonetheless... 6- I think it puts you in the wrong mindset, you can easilly find yourself chasing the market over and over, the strategy is literally buying into FOMO as fast as possible. Whereas if you wait for a pullback, for weeks, unless you lose patience and do something dumb, you are not going to be chasing anything but accepting what the market is going to give you. So to sum up the main reasons for me are: - I don't like the concept of buying into FOMO as fast as possible - I don't want massive slippage - I don't want to get scammed over and over with the price going against me in a minute, and my way the next
Education
by MrRenev
Market Correction Approaching? [S&P Q4 2019]ARE WE ABOUT TO SEE A MARKET CORRECTION? As we finish off Q3 2019 and approach Q4 2019, we see that S&P is holding strongly about its new all time high. However, exactly a year ago, as September 2018 wrapped up, it started the great correction of 2018. Whereby the market erased all of the gains it made for the whole year. Some would argue that the crash started in Dec 2018 with none other than President Trump himself officiating the opening ceremony with his famous tweet "I am a tariff man". However on hindsight, I personally believe that the 2018's great correction started at the end of September for the following reasons: 1. The October Effect - Whether you believe it or not, this psychological effect has many times spooked market investors over and over again. 2. Portfolio Re-balancing - Institutions would normally re-balance their books and portfolios 3. Global negative events - Trade War, yield curve inversion and economic slowdown Fast forward to today, as we approach the last week of September 2019, our investment climate mirrors exactly the climate 1 year ago. Technically speaking: 1. Market is testing it's all time high. 2. All time high also occurs near a Fibonacci Extension level of 76.4% 3. MACD indicator is starting to reverse from it's resistance where market reversed in the past. Moreover, we are starting to see divergence forming 4. The great correction of 2018 tested and reacted right above it's 200 period EMA. Now, the same 200 period EMA is also approaching a key Fibonacci Retracement level of 61.8% at around the 2590 region. I explain in greater detail on my blog. Feel free to reach out to me! thelaughingchartist.wordpress.com Cheers.
CME_MINI:ES1!Short
by laughingchartist
An important lesson...David Schwartz has a quora profile, I am not 100% sure it is him but I think it is. This is where he made this quote. He has been with ripple for 7 years I think? He has a long experience with markets and understands how euphoria exists. Hard to believe he did not expect to profit from FOMO and sell his bags once ripple got big. The entire founder team, they're posting pictures of them partying, at expensive places, et cetera. Just like Charlie Lee and Vitalik, they tell people "there are risks watch out" to protect themselves but very well know people won't listen. And then just like Charlie Lee and Justin Sun they shill the ponzi and then dumb. This guy, David Schwartz, he is not even dishonest. That's the craziest thing. They openly and kindly share advice, in his case he is very active on twitter and quora and answers questions regarding crypto ripple (ofc) fx stocks, trading. They are just so bold about it, I love it! XD Had to share. People buying ripple bags are REALLY asking for it. Even the founders are telling you to calm down... It's really great to short xrp because you have the founders and the team on your side ;) I know baggies really love their bags, but "averaging down" rarely works, it's what absolute cretins do. You might luck out once in a thousand, but do you really want to risk everything and more? Now I am not telling bagholders that are very attached to their worthless bag of feces to sell. Hold on if you want. But if ripple goes way up as you dream of, you'll make alot of money right? What would buying more change? Just means much bigger risks because you can't handle being in the red and want to "scale down" and coumpond on your loss. So don't sell, hold your bags. But I have to recommend simply not buying more than you can afford to lose. Do not go all in ripple or crypto (being 150% in crypto but not more than 5% in any single crypto is NOT smart diversification...you're fully exposed), do not borrow. Ripple bagholder will really have no one to blame but themselves. And in some cases, certain people that are super cocky and call themselves "legends" and "master of charts" and put 25% of their money in this, it will be very hard not to laugh!
BITSTAMP:XRPUSDEducation
by MrRenev
18
USDCAD Trend Buy With 2-to-1 RewardOur @FollowMyForex trend following strategy just gave us a confident buy signal on the USDCAD H4 chart. Following the recent uptrend, we still have strong momentum possibility to the upside and a buy is the high probability trade right now. After the decent pullback we've just bought and are targeting a nice 2-to-1 reward trade. That's the thing about trades with the trend, the risk/reward ratio is always in your favor. Updates to follow :)
Long
by FollowMyForex
3
First Loss In 2 Months - Important LessonWe just took our first trading loss in two months on the GBPJPY short that we initiated a couple of days ago. I always welcome losses when they are controlled and within the confines or our trading system , which this GBPJPY short was. Why is that? Because I know that every loss is one trade closer to the next big win. And having a 81% success rate since the last loss at the end of May 2019 tends to make any loss much more bearable ;) How do we remain unwaiveringly confident even in the face of losses? Easy. Trade with a system that has a proven edge. Not over one month. Not two month. Not even just one year, but a system that has a consistent track record over at least two years of backtesting. It should be rooted in sound technical analysis so that you know the odds are always in your favor when you place that next trade. Because we have so much data for this system we know all the stats related to it. Therefore we will start experimenting with even bigger position sizing in a separate "High Risk" account. It will ask to stomach much bigger drawdowns but for much bigger returns as well. More to follow, be safe and good luck!
Education
by FollowMyForex
How to: "Auto-Trendline Strategy"RULES: -----------------Auto-Trendline Strategy ------------------------ For LONGS: 1- 3 Green squares on the Trend meter (Oscillators) 2- Green Trend line price Break 3 - Price above 10 EMA 4- Watch for support/resistance Gap in between. 5- Open 1:1 Risk reward ratio Long based on the largest wick of last 8 candles. For SHORTS: 1- 3 Red squares on the Trend meter (Oscillators) 2- Red Trend line price Break 3 - Price below 10 EMA 4- Watch for support/resistance Gap in between. 5- Open 1:1 Risk reward ratio short based on the largest wick of last 8 candles. In our case rule 1,2 and 3 are coded in the triangles so you only need 2 indicators (Auto-trendline strategy) (Support/Resistance zones) You only need to follow rule 4 and 5. DO NOT WAIT FOR FULL TP, THIS IS A SCALPING STRATEGY DONT GET GREEDY when alt season begins this strategy is gonna be golden =) enjoy
COINBASE:BTCUSDEducation
by AndresVasconez
56
Consolidation around 8000There is a consolidation between the green and orange lines. Watch out for any breakout or breakdown. Price can move in any direction (sometime two-side shadow or long doji candlestick). Also, we have published an impressive strategy that has a good capability to predict the exit direction of the consolidations, presented in the below link: For example, dump from 6k channel consolidation in November of 2018 Or pump from 3k channel consolidation in March of 2019 Or some other lower time frame consolidations For more information you can join us by telegram. Channel address: t.me For getting access to the strategy you can contact us t.me is a telegram.
BITMEX:BTCUSD.P
by DeltaGroup