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DXY Bearish Longterm.Back in May of 2002 price created an imbalance in price for Dollar Index (Monthly Chart). Price had only participated in sell-side delivery, leaving behind buy-side inefficiency. Since that time price has returned to that Monthly SIBI (Sell-side Imbalance, Buy-side Inefficiency. Fully closing the imbalance, making price completely balanced. From that strong Point of Interest, price has reacted aggressively to the downside. It is of my opinion that the Dollar Index is long-term bearish. Short-term i'm under the opinion that the Dollar Index is Bullish, and heres why. Last month price dipped into another monthly imbalance in price...to the upside. I believe this is the first retracement leg for the overall Long-term bearish move. I am bullish DXY until price reaches equilibrium of the most recent monthly range swing high and swing low. Primarily I would like to see price retrace to the .62 FIB for what I believe to be an Optimal Trade Entry. Perfect for Position and Swing traders. For Day Traders/Intraday Traders, I will be anticipating price moving lower to attack sell-side liquidity, then take price all the way up to the level prior mentioned. Ultimately I will buying into the sell. What this means for me is that I will be firstly selling Foreign Currencies paired with the Dollar (i.e. EU, GU, AU etc...) to later buy them once DXY reaches the specified Point of Interest. (.50 FIB/.62FIB or a close of the Monthly -FVG) I hope this idea helps you with your trading. Bless.
TVC:DXY
by chaarate
EURCAD: Detailed Technical Outlook🇪🇺🇨🇦 Here is the wave analysis for EURCAD. The market is currently consolidating with a horizontal trading range on a weekly, after a strong bullish impulse. 1.46 - 1.465 is the resistance of the range, 1.423 - 1.43 is its support. The upper boundary of the range matches perfectly with a key weekly resistance. Depending on the reaction of the price to the boundaries of the range, I see 2 potential scenarios: If the price breaks and closes above the resistance of the range, one more bullish wave will be expected. While, a bearish breakout of the support of the range will most likely initiate a correctional movement. Wait for a breakout and then follow the market. ❤️Please, support my work with like, thank you!❤️
Short
by VasilyTrader
5
GBP Set for Record Breaking LowsThe Pound closed weak on Friday as the bearish sentiment continues to drive the market with what appears to be a Double Top on the Daily Timeframe 1.19000 marks what could be the neckline where buyers may attempt to regain control A break of 1.19000 confirms Double Top and should trigger more shorts In September 2022 the Pound dropped to 1.0350 forming a 37-year all time low A break of this low would once again set new records First Targets will be at the September 2022 lows A break below could see the Pound trading as low as 0.98000 or lower over the next few months
Short
by Swiing
2
BTC Bull Run 1.22-6.57% 02 14 2023If you love the spot-on analysis done so far, please boost, share, comment, and follow for more. This strategy is also used Live by Green Lion Capital Social Trading on Zignaly. As projected earlier, the market experienced a reversal after accumulating enough volume for liquidation. I anticipate that the market will witness another bull run to attract more volume this time since many investors believe that we are gearing up for a major bull run as we did not break the $21k-20k zone. However, this is not the case, and based on current market metrics, the ideal target is $23,500. For this chart, the estimated entry zone roof is $22,056, and there is a potential upward movement of roughly 6% with a +/-1% tolerance. Confirmations have been made on the 5 minutes chart, 3 minutes chart, and through a private chart. *** Disclaimer: a second non-public chart layout was used to officially confirm this oversold point. Safe points to take profit: T1: 1.22% T2: 2.86% T3: 4.82% T4: 6.57% Baseline Information: The strategy used for this analysis takes into account the following factors: Timeframe: 3min and 5 min Symbols: BTCUSDT, ETHUSDT, BTCDOWN, and ETHDOWN Exchange: Binance Indicators: For obvious reasons, precise indicators names can not be provided, but this analysis makes use of VWAP, moving averages, and Fib charts. Chart Count: 8 3min chart confirmation: white MA crossing up yellow while above lowed dotted white line. 5min chart confirmation: vwap greater than lower dotted white line while with three candle confirmations above the white ma. Disclaimer: The information and publications are not meant to be or constitute financial, investment, trading, or other advice or recommendations.
Long
by ghost2019
My Backtesting Results on NZDCHFHolding trades is what I want to get better at and backtesting is going to help me do it. I've backtested NZDCHF today and found that it was a remarkable session. I was able to enter 4 trades in the span of 3 months gaining over what would have been 15% from the trades, but one trade hit my break even point so I gained around 12% from my trades. I used the monthly, weekly, and daily timeframes with most of my entries coming from the daily timeframe. I used my own strategy known as TMP. It stands for Trend, Market Structure, Price Action(or, pending orders). I identify the trend first, then set my estimation zone, then place my pending order. In that order, thats it. I don't use support and resistance, trend lines, or indicators for the most part. I like using price action. Its my preference that has changed throughout my trading career. I've noticed I a few reasons why I don't enter my best setups are due it 1) Money trauma( family had poor money management) 2) Time limit( pressure from showing results) To get over those, I have set parameters to take partials, move my trades to break even, and set pending orders to eliminate myself not entering my own trades. This helps in the long run and has helped since collecting data on myself since the start of me using prop firms. I can only pray that through my backtesting and trading journey, this can help you too. Please let me know if you have questions regarding my backtesting or found something unique that helped you. Safe trading❤️
Education
by ShaquanLopez
1
NVDA SECOND LEG UP? | SWING TRADE IDEANASDAQ:NVDA I like what I see when looking at the Daily. In just over a month, it has gone from 130 to 221; almost a $100 gain! We see it formed a base, which we can now see was an accumulation at the demand zone, and broke above 1/9 around $153. Met resistance around 194.50 where it previously resisted in 12/13 and completed a double top between 8/4 and 8/16. Broke this supply zone and pulled back to retest it, making a swing low and now holding this 194.50/195 level as a demand zone (confirmed because it never retested previous low around $188). Continued the trend to the next supply zone around $211. This level was previous from January- April 2022, testing it 4 times before it began forming a base, that we eventually ended up being a distribution phase. Broke this level and made a high at 219.50 and pulled back to retest this broken supply zone. Bounced neatly off this level today and crossed previous high, closing at 221.73. Tomorrow, if there is a break above today's high, I will look to take a day trade towards the high of previous consolidation period in April, near 225. If we are able to hold that, there is a gap that has not been filled to 230. A hold above this level I will look to hold this swing long term
NASDAQ:NVDALong
by WSBB
2