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EURNZD Local S/R|200 MA|Price Action|Local S/R|.382 FibonacciEvening Traders, Today’s analysis – EURNZD- Price Action trading at Local S/R where a bounce is probable, Points to consider, - Price Action Impulsive - Local S/R Support (.618 Fibonacci Confluence) - .382 Fibonacci Resistance - Swing Low Objective EURNZD’s immediate price action is impulsive under the 200 MA; this allows us to have a bearish bias on the market. The lower Local S/R is in confluence with the .618 Fibonacci, increasing the probability of a bounce here. The upper Local S/R is likely to act as resistance, establishing a bearish retest at these levels is probable as it is in confluence with the .382 Fibonacci and POC. Immediate objective is the current swing low; exceeding this level will likely continue the downside momentum. Overall, in my opinion, EURNZD is a valid short with define risk, price action is to be used upon discretion/ management. Hope this analysis helps! Thank you for following my work And remember, “The market is a device for transferring money from the impatient to the patient.”- Warren Buffet
Short
by AzizKhanZamani
5
3 of 3 Candlestick Patterns That Pinpoint ReversalsBullish Hammer Candlestick These candles are easy to spot and they generally have taller wicks than their bodies, resembling a hammer's handle and head. They tend to close without (or with very little) upper wicks. Here's what a bullish hammer candlestick is telling us: Price opened near the highs of the candle and although sellers initially succeeded at pushing price lower, they lost the final battle when buyers tipped the scales in their favor again by closing price higher than the opening price.
COINBASE:BTCUSDEducation
by Tradingstrategyguides
EURAUD 15M ASIAN SESSION BULLISH REVERSAL 1 of 3 Candlestick Patterns That Pinpoint Reversals. When I'm analyzing a market, there are only 3 candlestick patterns that I'm worried about. Over the last decade, they have proven to be the most accurate at confirming entries at the areas I want to trade. 1 - BULLISH REVERSAL CANDLESTICK PATTERN. The image above shows a bullish reversal candlestick, and you'll notice that it's a singular candle formation. Here's what a bullish candlestick is telling us: Price made a new low, but selling pressure very quickly dried up as an increase of buyers entered the market, resulting in the candle closing high off its lows, signaling buying strength.
Long
by Tradingstrategyguides
LTCUSD 1H CAMARILLA MEAN REVERSAL STRATEGYNow, we know that this Camarilla pivot trading strategy tends to produce less trading signals. This means that you won’t be having a trade signal every day. Don’t worry about it because we have one more trick in our sleeves. We can show you a very reliable Camarilla mean reversion strategy. This Camarilla pivot trading strategy only uses the power of divergence along with the pivot points. It sounds complicated, but in practice is quite easy. To simplify the process we’re going to look at buying near Camarilla support S3. All you need to look for the price to make a new low that at the moment we touch the support S3. This means we broker below the most recent intraday swing low. In this particular example, the price broke below the support S3. Many times it will happen this way. So, don’t expect the Camarilla pivot support levels to hold to the pip. This is why we enter our position once the price gets back above the support S3. With this Camarilla pivot trading strategy we place the protective stop loss below the support S4. Note* Use the same rules, but in reverse for selling near the resistance R3.
COINBASE:LTCUSD
by Tradingstrategyguides
2
AUDUSD LONGAUDUSD is currently enjoying a nice uptrend on the daily chart. On the hourly today there has been a 50% pullback of the last impulsive move to the upside, and formed a swing low on the former resistance trendline. It has already moved 110% of the ATR today so I am setting a stop at 0.644 with a target 0.673, the monthly R1. This gives a decent Risk:Reward of 1:4.5 If you have any ideas supporting or on the contrary to my opinion please leave a comment. Thank you and happy trading :) Disclaimer: This is not financial advise
Long
by EireTrade-Capital-Management
USDCHF - Next Move in Trend DirectionHi Traders! The market broke out of the descending triangle (H4) on 27th December '19. Then it fell until the support at 0.96500. It formed a bullish engulfing pattern there. So, the market made a consolidation at the area of the 61.8% Fibonacci Level. It retested the area two times. Now it will continue the trend and make another swing at least to the level at 0.96500. We have a save SL above the 200MA. We recommend to sell the next swing with a risk-to-reward ratio of 1 to 2.3! Thanks and good luck :)!
Short
by swissmoneymakers
2
After a down swing (LONG) 1.11500 zone is a strong support level and also equivalent with 50% Fibonacci retracement level, so makes the level more stronger, I think just bad news about euro ecosystem's fundamental can break this level.if you see bullish sign after bouncing off from this level go LONG. Also it can bounce off from 38.2% Fibonacci retracement level and continue uptrend but this is possible if more traders and super traders be agree with current EURUSD uptrend.
Long
by Hedayatyazdani
BTCUSD D1/M1 charts (2/4/2019)Good morning, traders. Bitcoin continues to trade sideways with no significant increase in visible supply or demand on the order books. While Bitmex has continued to show stronger supply, spot exchanges are showing stronger demand. Traders should consider both but give more credence to spot exchanges as Bitmex's swap system and 100x leverage draw to it the gamblers (those with a stronger "casino" mindset) which means they are generally short-profit driven which leads to constantly jumping between buying and selling. Spot exchange traders tend to have a more definitive outlook and as such aren't prone to as much flip-flopping. Again, this is speaking in generalities. At this point, price has printed a perfect descending channel on the daily. The daily RSI has printed a descending wedge whose apex it is nearing, and volume has continued to drop as price has consolidated, which means that we should see a strong push by price in either direction sooner rather than later. Price is also treading along, just under, the steeper red resistance. I have outlined the horizontal resistance levels in blue as well. Currently, my expectation is for price to target the supply EQ around $4500 as noted once it moves through the channel's resistance. Traders must watch for price to target the channel's EQ and then its resistance before thinking of the supply EQ, however. These more local levels give shorter-term traders ideas of where to watch if going long or short in the near term. Yesterday's candle was very low in terms of volume and today's candle is already almost even, yet the candle spread is very small so far. This is something traders should watch through the end of the day. Based on the steep red resistance line, a successful move beyond it should have price targeting the January 19th swing high around $3760/80. We would need to see the candle closing above that swing high to protect price from a bearish SFP and signal further advancement. A successful close below the January 29th swing low at $3322 would have price likely targeting the $3200 area and failure for that level to hold puts $3000 on guard. The monthly chart is interesting. We can note the large drop from the $6000s in November, however we saw even greater volume in December but a very small candle spread and good lower wick. January saw volume comparable to this past summer, but again small candle spread. This appears to be suggesting that demand continues to show up and while it hasn't been enough to send price higher just yet, if it holds then supply will continue to get eaten up and we could see price moving higher and catching most traders off guard. The wedge is the dominant pattern at this time and based on prior movement suggests that price should be moving sideways/up to challenge the pattern's resistance. This would give price another alternating touch of support and resistance thereby confirming the pattern. If that were to happen, then my expectation continues to be what it has been in that we would see price test that resistance, retrace a bit, and then push through the resistance. Looking at the daily chart, the move toward resistance isn't unthinkable. Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life. Remember, you can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own.
BITSTAMP:BTCUSDEducation
by Chris_Inks
1
BTC/USD 4H/1D charts (12/04/2018)Good morning, traders. Bitcoin continues to ride the resistance line from the $6000s and is currently sitting just under the McGinley Dynamic. Not a whole lot has changed and the targets from yesterday remain valid today (review yesterday's linked analysis). The 4H RSI did break out bullishly from its descending wedge, though, and is currently sitting just under bullish at 46.5. I have drawn one more solid black line of resistance. A breach of this should have price moving definitely bullishly for the time. The 4H pivot sits at $4010 and a close above that should encourage more bullish activity. MACD is nearing a bullish cross, but if it does then it is likely that we will see hidden bearish divergence print sooner rather than later unless we see a flurry of buying activity that sends price above $4234.16 quickly. Moving above that level will pull price bullishly out of the green wedge and blue channel while setting up a showdown with the brown wedge's resistance. Remember, the latter is the one I am most interested in at this time, and a successful breach of it should have price targeting $5250/$5300. The 1D RSI is currently printing bullish divergence between 11/30 and 12/3, albeit a bit weak. As long as price closes at the day where it is or higher, that divergence should be locked in. A bullish divergence on the daily should have price rising a few hundred dollars at least. This would see price bullishly breaking out of the patterns noted above. We can clearly see a large flag printing on this TF so the expectation should be that price moves up rather than down. That doesn't mean that it is necessarily doing a full-on reversal, just that we should expect to see it play out like any other flag pattern at any other time in the market for now. The target based on this pattern's flagpole is the previous S4 pivot (blue price tool) at $4900-$4940. Doing so also brings price near the lower green price tool target based on the previous descending channel. OBV has continued to rise on this TF which is good as it indicates that volume and price are in agreement for now. All this being as it is, price finds the same problem on the 1D that it does on the 4H and that is the hidden bearish divergence that is printing. Two days ago, MACD's histogram was slightly higher than yesterday's and today's is much higher than the one from two days ago. So we see higher highs in the histogram and lower highs in price so far between 12/2 and today. This hidden bearish divergence can be avoided if price pushes above the 12/2 high of $4265 by the end of the day. If so, then price can likely avoid the larger hidden bearish divergence between 11/7 and today. But I'm not completely convinced there's enough strength in this short term hidden bearish divergence to overcome the longer term one mentioned, so traders should remain on their toes. The multitude of bullish patterns printing within each other along major resistance right now is the big plus on the bullish side. I really want to see a close above the 11/29 swing high at $4409.77 to feel a bit more bullish at this time. A close above the 1D pivot/1.272 fib extension at $4665 should have price facing resistance at the equilibrium of the yellow zone/1.414 fib extension at $4800 before heading higher to complete the targets. Lower targets, if price breaks down from here, are mentioned in yesterday's update. Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life. Remember, you can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own.
BITSTAMP:BTCUSD
by Chris_Inks
Breakout on USD/JPY with Support tested 3 times and a Swing Low.The chart shows a possible breakout on USD/JPY, clearly stated by the short volume the market has, and three levels of support being tested 3 times in the past. Just remembering, the more times a key level has been tested in the past, the more accurate it can be. Price has also reached a Swing Low, which shows more evidence of a future strong and definitive trend. I believe the market will give us a start of a new and fresh trend with these levels of "cheap" - stated as Support from some traders.
by jwhappy
Swing Highs & Lows, Support, Resistance & Confluence ZonesHello. Welcome to some random guy's educational post on Tradingview - who thinks he knows enough about trading to teach other beginners. Whether you are a beginner at trading or investing, these tutorials will help you tremendously in gathering a basis for your interest in this game. Because in fact, this is a game. A game of wins and losses, how we manage them, and how we profit over time. The most important piece to this game is 'Risk Management'. However, I need to make sure that at least the basics of swing lows/highs, supports and resistances are covered before I can go into a higher detail of what I want to cover in Risk Management. Well. What the hell is this? What in the living hell are swing highs and lows? Why do they matter? What is the point? Doesn't the price just go about randomly? Ahah! No. The misconception that many people have is that TA (technical analysis) is completely bogus. And that there isn't any correlation between where the price goes in comparison to where it's been. That my friend, is a lie. Though, predicting very far into the future using TA is extraordinarily hard, and I've learned that its just best to keep things short-term (most of the time), TA is a grounds to price action and the POSSIBILITIES and PROBABILITIES of the market. With TA, you are just accounting for what the market CAN do based on what it already HAS done. TA is never 100% accurate all the time, and is always likely to fail at some point because the probabilities in the market are never 100% probable and are never guaranteed. The only probability that is guaranteed is that the price will go "up, down or sideways." If you say that, you will always be right :). So let's get to it! What is a swing high? A swing high/low is a price point in the market before a reversal. Swing highs happen at the peak of the trend, swing lows happen at the valley/bottom of the trend. On the chart above, you will see the major swing highs in white, and swing lows in blue. What is a confluence zone? Confluence zones are areas where there is a lot of activity, multiple supports and resistances. Typically either areas of indecision, consolidation OR areas of accumulation or distribution. Consolidation: Areas where price volatility settles down, volume decreases, and the market is getting ready for a choice of a direction in price. Accumulation: Typically referred to as an "accumulation phase," this is an area where traders begin to slowly accumulate (purchase) the stock, while shuffling out short orders. This typically is low volume, and reflects a level of consolidation. This happens before an uptrend. Distribution: Typically referred to as a "distribution phase," this is an area where traders begin to slowly distribute (sell/short) the stock, while shuffling out long orders. This typically is low volume, and reflects a level consolidation. This happens before a downtrend. Accumulation and Distribution levels are a part of the Wyckoff Theory. It's a pretty simple diagram that can be googled. Now why are these even important? These levels can be used as points for a target on your trade, or even stop losses. Updates to come with examples of how these would be useful tools in trading.
BITFINEX:BTCUSD
by Elijah_Trading
2
XRPUSD 1H GANN FAN TRADING STRATEGY This trading strategy is a complex support and resistance trading strategy that uses diagonal support and resistance levels. Unlike the traditional horizontal support and resistance levels, the Gann fan angles are mathematically calculated based on the price, time and the price range of the market. The Gann fan trading strategy can be applied to all markets and 1H+ time frames because the financial markets move as a result of human behavior which makes them cyclical in nature. In other words, history is a good predictor of future price action. One of the main reasons why Gann fan angles are superior to the horizontal support and resistance levels is that financial markets are geometric in their movements. This means that if you can spot a pattern or or any other geometric shape in a chart, then there is a high probability you can spot them at the Gann fan angles. Gann Fan Indicator is notable unique because it draws diagonal support and resistance levels at different angles. The most important angle is the 45-degree angle or the 1/1 line. For every Gann angle, there is a line that is derived from that angle. We can distinguish 4 different Gann angles above the 45-degree angle and 4 other Gann angles below. Gann believed that when price and time move in sync, then that’s the ideal balance of the market. The biggest part of the Gann theory revolves around the fact that prices above the 1/1 line, the 45-degree line will determine a bull market and prices below the 1/1 line determine a bear market. How to Draw Gann Fan Angle - You first need to draw a perfect 45-degree angle and most sophisticated trading platforms should have incorporated such tools. On the Tradingview platform, you can locate the Trend Angle tool on the left-hand side panel. Next step is to select any major swing high/swing low on the chart from where you want to draw the Gann fan angles. Once you’ve chosen your swing low point simply utilize the trend Angle tool and draw a perfect 45 degree angle. Once you’re done, you need now to learn how to draw the Gann fan angles. On this step you need to use the Gann Fan indicator which again is located on the left hand side panel. Now, all you have to do is to simply place the Gann fan indicator on the chart and make sure it overlays on top of the 45-degree line you previously have drawn. This is the correct way to draw the Gann fan angles and if you have been following all these steps all the other Gann fan angles should comply with the Gann rules. Step #1: Pick a significant High, Draw Gann Fan Angles (White lines) and Wait For the 1/1 Line to Break to the Upside. Step #2: Wait for a Break Above 2/1 Gann angle (Green line) before buying at the market. This step is significantly important because a reversal of the previous trend is only confirmed once the 2/1 Gann angle is broken to the upside. Step #3: Apply again the Gann Fan Indicator (Yellow lines) on the Swing low prior to the breakout above 2/1 Gann Fan Angle (Green line). One of the reasons why this is the best Gann fan strategy is because we use the Gann fan indicator to track every swing in the market. Step #4: Place Your Protective Stop Loss below the Most Recent Swing Low Which Should Align With the Point from Where You Draw the Second Set of Gann Fan Angles. Step #5: Take Profit once we Break and Close Below the 1/1 line (I close at 8/1 line). New bearish move setup - We Need a Close Below 1/1 line to be by at least 20 pips to consider it a Valid Bearish Breakout. We want to ride the new trend for as long as possible and with the help of the 2nd Gann fan indicator, we can pinpoint the ideal time to enter and to take profits. We also want to add a buffer of 20 pips to the 1/1 Gann angle breakout just to annihilate possible false breakouts.
BITFINEX:XRPUSD
by Tradingstrategyguides
3