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USDCAD LONG MOVING CLOSER TO 1st TARGETUpdate on my USDCAD LONG trade, the latest trade placed on March 12th @ 1.28362, right before the trendline break which I had previously wrote about here . Price subsequently broke above that trendline and I placed an additional LONG order @ 1.29675. As of this writing I'm sitting on +190 pips, having already pocketed +350 across several lots from the beginning of the Bullish trend change. I wrote about that here and here . Right now I'm about 70 pips from target and it might be asking a lot from the market to get there today. 20 period ATR is @94 pips and price has moved about 30 points already today. Depending on how we end the day I might cash out on one lot and move my trailing stop up to break-even. Keep in mind that we are in overbought territory so proceed with caution. It also looks like the MACD might be putting in some divergence above the zero line.
Long
by jrashaadtrades
BEAR FLAG CHART PATTERN STRATEGYBTCUSD 1H - Bear flag pattern trading strategy is one of the most reliable continuation patterns. One of the first experiences most traders learn when they start trading is price action trading and one of the most popular price action pattern that you probably have heard is the bear flag pattern. The bearish flag is a very simple continuation pattern that develops after a strong bearish trend. It doesn’t really matter if your preferred time frame is the 5-minute chart or if you prefer long-term chart because the bear flag pattern shows up with the same frequency on all time frames. A continuation pattern, like the bearish flag, brings some good news because it tells you that after the market has gone down it will continue to go down more. In addition to that if you missed the initial sell off and the market has gone without you, if you spot the bear flag pattern on that chart, then this is a sign and a safe place to sell so you can enjoy the rest of the bearish trend. What is a Bear Flag Pattern? A bear flag pattern is constructed by a descending trend or bearish trend followed by a pause in the trend or consolidation zone. The strong down move is also called the flagpole while the consolidation is also known as the flag. The bear flag pattern will always come after a strong move downwards and the stronger the move the bigger the profit potential can be. The bear flag pattern highlights a trading environment where the supply and demand balance has shifted badly in one direction of the market (supply > demand). This in turn will produce very little upside retracement which allows the flag structure to take shape. After the initial sell off, people who missed the train will panic and begin selling and more people selling it during the flagpole stage. During the pause or the narrow consolidation people will now wait to get higher price so they can sell but since the supply demand equation is so imbalanced this won’t happen and we get another smash that will make many people to chase again the move to the downside. Step #1: Look for evidences of a prior bearish trend. For a valid bearish flag you need to see a sharp decline. Just because you can spot the bear flag pattern it doesn’t mean you have to jump straight into the market and trade it. Remember, we need the right context and the right price structure needs to line up for a tradable bearish flag. A valid bearish flag first needs a sharp decline which is a strong evidence of a bearish trend and the fact that the supply and demand are out of balance. Note* The sharp move is also the Flagpole – the first element of the bearish flag structure. Step #2: Identify the Flag price formation. The price action needs to move in a narrow range between two parallel lines. The flag price formation is the second element of the bear flag pattern. Basically, all you need to do is to spot one support and one resistance level that must contain the price action in a very narrow range. The narrow range is key for the bear flag pattern success rate. Step #3: Sell at the closing candle that generates the Flag Breakout. There are two basic approaches to enter the market with the bear flag pattern. Aggressive traders will enter at the top of the bearish flag as this will secure a little bit of bigger profits. If you’re a conservative trader you can wait for confirmation provided by the flag breakout. Step #4: Place the protective stop loss slightly above the Flag. We’re accomplishing two things with our tight stop loss: Small losses. Higher risk to reward ratio. With such a tight stop loss you’ll have the comfort of losing many trades in a row because with the amazing RR the bearish flag can potentially wipe out all your losses in a single trade and still come profitable. Step #5: Take Profit target equals the same price distance of the Flag pole measured down from the top of the bearish flag. The text book profit target is the height of the flag pole measured down from the top of the flag.
BITFINEX:BTCUSDShort
by Tradingstrategyguides
USDCHF LONG. Still in profit, looking to add a few lots.My USDCHF LONG from 02.26.18 is panning out well as I'm sitting on +90 pips at the time of this writing. Ended last week with a Spinning Top on Friday, March 9, after breaking through the previous supply zone. That zone is now being retested and if if holds will become demand. Price is currently stalling around the 0.947 mark, which was also the HIGH for February. I'm currently ~60 or so pips from my take profit zone (Green Fib Ext Rectangle). If price breaks above last weeks high I'm looking to add an additional lot or two, bank profit on the current LONG and set my stops to break even. One technical thing to keep in mind is that price could easily retrace to the bottom of the channel, which would also correspond to the Retracement Zone from the February low to the high last Friday. If that occurs, as per my custom I'll draw in a trendline in anticipation of a break above it. All of this depends, however, on how the Dollar performs against the majors. As I mentioned in my posts on the Dollar Index from last week, we've yet to have a trend change so all USD longs are are susceptible at the moment.
Long
by jrashaadtrades
Taking Some Profits on EURSUD SHORT.As per my discussion here and here the EURUSD is still ranging with price oscillating around the 1.245-1.235 mark. Although I'm not a huge fan of candlestick patterns, previous three days put in a Bearish Evening Star after hitting up against trendline resistance, area of supply, and the 61.8% retracement level. I've been short since 02.16.18 with several lots and decided to take +150 pip profit on one of them at the end of the New York session yesterday. Currently sitting on +130 pips between 3 lots. As I'm typing this the EUR is rallying intraday as the USD declines after a muted NFP announcement. As I wrote here , the USD rally can't be considered on and the prevailing trend is still down. As I see it, only a decisive break and close above 91.00 signals a Bullish dollar. Trade accordingly.
Short
by jrashaadtrades
USDCAD 1H Resistance Zone Reversal Trading StrategyThis Support and Resistance Zones Strategy will enable you to take trades exactly at the area price will reverse. Identifying & trading support and resistance lines & zones is critical for every trader to implement into their system. Our main indicator for this strategy will be price action and its relationship to Support and Resistance. This is, in our opinion, the best way to trade support and resistance. You should always suspect a reversal at Support and Resistance as there is a high probability that price action will reverse at those key levels. That’s because it already did that before in the past and it will continue to do so in the future as traders will always take caution on these levels so some who had open trades will exit at those levels and others will initiate new trades at these levels and that’s why it is crucial to learn to draw these Zones. The first step of this strategy is drawing those Zones on our charts so that we can easily spot where the price would probably reverse. Drawing Zones on the chart is better done on a higher time frame so that we can examine the main reversal levels and the more critical points on the chart as a higher time frame shows us the bigger picture. We begin by drawing horizontal lines on recent Peaks and Bottoms When you are doing support and resistance trading, a line with multiple touches is far better off as it is clear that it stood against the price and passed the test for many times and it will continue to do so. WHY? Because History always repeats itself and this continues to happen time and time again on every chart that you will ever look at. The second step is waiting for the price action to touch the Zone. Basically, the higher time frame takes less time and attention than the smaller time frame alternatively, the smaller time frame has more signals as the zones may get hit more frequently so you have to be more focused if you’re trading small time frames. If the price reverses that will be good as it is what we are expecting but need a strong reversal candle though to assure that price will reverse and that it will not collapse back again. On the other hand, if it breaks that level it may be real breaking or a fake breaking so we also should see a strong piercing candle that effortlessly break that level to assure it will continue on the same way. The Third step of this trading strategy is to wait for the candle which hits the zone to close as this will be probably the signal candle we are waiting so look at that candle.Is it a bullish or bearish candle, is it strong or weak, big or small, does it have long wicks or small wicks or no wicks at all, when you can identify the kind of candle then you will be able to decide whether to sell short or buy long. Knowing the type of candle is crucial to identify whether the entry is valid or not. Here are some important factors in determining a strong reversal candle because spotting that specific candle on zones makes the difference between winning trades and losing trades. The Qualities of a strong candle are: Long body;Formed after the previous touched the level but could not break it. You will see that weak candles are not able to breach the Resistance line and had long wicks and could not break that level so we wait to see what will happen with the next candle. Will the price action break that level or will the resistance win and the price reverses. The fourth step is to identify where you will enter the trade. Your entry should be slightly above or below the signal candle which is the strong candle, this way you are adding more confirmation to your trade to make sure that the price will move towards the direction you expected it to move to. Our stop loss should be placed on the other side of the zone and not too close to the level to give it some space as we said it is a Zone, Putting the Stop loss there because this the end of the trade as the price is unlikely will reverse after that point. We used a 3 to 1 RR.
Short
by Tradingstrategyguides
1
BEST RIPPLE TRADING STRATEGYDid you ever consider investing in alternative cryptocurrencies other than Bitcoin? If the answer is yes, look no further, the best Ripple trading strategy can make you profitable by trading one of the fastest growing cryptocurrencies. By far the hottest topic in the crypto community at the end of 2017 and beginning of 2018 is the surge in the price of Ripple. Ripple price has blown up from under $0.02 to over $3 in under a year and has increased by 1,400% over the last month alone. The first logical question that must be on the back of your mind is what is Ripple and why you should be interested to buy Ripple. Ripple value has skyrocketed and it’s on everybody’s mind. At one point Ripple has surpassed Ethereum to become the second cryptocurrency in terms of market capital. What is Ripple coin? Ripple is a cryptocurrency based on a private blockchain that’s permission-based and centralized. It has drawn a lot of criticism from the blockchain evangelists because it’s opposite to the Bitcoin blockchain which is public and decentralized. In a nutshell, Ripple technology is trying to securely and instantly provide an almost free global financial transaction channel. So, why is Ripple such a great cryptocurrency? Ripple is trying to solve an age-old banking problem. If you think about it in the system we use today we do a lot of international currency transfers which takes a very long time for these transfers to take place. So, Ripple is trying to update that system and make it faster and more secure. We believe that Ripple cryptocurrency has a very useful place in the market as it’s servicing a huge need. Even though Ripple coin is different than Bitcoin, one of the Ripple’s advantages is that it has fast confirmation so, near real-time and instant confirmation of transactions. Plus, Ripple cryptocurrency is extremely cheap. Day trading XRP Ripple with Naked Charts Day trading XRP Ripple we need to deploy different trade tactics because Ripple price action has its own personality. Our TSG team has discovered through careful examination and backtesting that Ripple has the tendency to bottom on up days during a specific time of the day. Moving forward you’ll learn what the best time to day trade XRP Ripple is. Step #1 - The 15-minute chart will give us a better view of the overall price action and on the Ripple intraday trend. Step #2 If we’re on an Up-Day, Mark on your Chart the Time Window between 9 – 10 GMT Time As we mentioned earlier we have found out through backtesting that the best time to buy Ripple is between 9 – 10 GMT. However, that’s only half of the equation because our statistics also show that the best time to buy Ripple is in the up days. What do we mean by this? We want to buy Ripple if between the time window from 9 AM to 10 AM GMT, Ripple is trading above the opening price. If we buy Ripple above the opening price it means that we’re buying in the direction of the prevailing trend. Essentially, this is a trend following strategy deployed on intraday trends. Step #3 Buy anywhere between the 9 – 10 GMT Time Window This time window also coincides with the London open and it’s the time when many cryptocurrency traders step into the market. Now, depending on your trading skills and your experience you can fine tune your entry point within this time window. Step #4 When day trading XRP Ripple hide your SL below the Opening Price Any deep move below Ripple opening price will alter the bullish sentiment. A sell-off below the opening price indicates that the buyers are weak and maybe we’re better off trying to buy Ripple on another day. Step #5 Take profit once the Price Travels the Same Price Distance it did from the opening price until 9 AM GMT First, measure the price distance from the opening price to the high established between 9 to 10 AM GMT. Second, project the same price distance to the upside measured from the low established between the 9 – 10 GMT window.
BITFINEX:XRPUSDLong
by Tradingstrategyguides
BTCUSD 4H ASCENDING TRIANGLE TRADESStrong resistance at top of ascending triangle trendline and -27.2% fib. If there is a bullish breakout the previous resistance levels are our take profits. Price may breakout the bottom triangle trendline. At 9354 price could continue bearish of have a bullish bounce. Bearish take profits are listed on the chart. This trade is from our free pdf "BREAKOUT TRIANGLE STRATEGY" PM me if you have any questions, I will be happy to help.
BITFINEX:BTCUSD
by Tradingstrategyguides
1
Status (SNT) : Day Chart : ~650% Potential ProfitI'm a fan of SNT.. Watched it go from $0.15 to $0.5 in a matter of days.. Very impressive price movement.. Expecting around ~650% growth before it reaches the target line.. Might be some time before it does anything significant once that happens.. Might be that it has other plans.. Who really knows? --- Time requirement for targets to be met are undefined and difficult to project in advance.. Reasons may vary, but mainly (imo) it depends on whether BTC is bullish or not.. This is not investment advice, merely my personal opinion and therefore fallible.. Trade safely.. I don't accept responsibility for any losses incurred, but will however attempt to guide you out of a bad trade, should that come to pass as a result of my posts..
Long
by Lezz
XRPUSD 2H Lower Highs Lower LowsPair has failed to make a new swing high Price is making lower highs lower lows Price can bounce bullish off 50 sma or break below it Price can consolidate between 50 and 100 sma As price falls from 50 to 100 sma it can go half way and return back to 50 sma If that happens price can move above 50 sma and rise to swing high target Or price can bounce short off 50 sma and fall to 100 sma If price breaks below 100 sma it may fall to swing low target Watch Macd in relation to Macd red line, 0 level line, Stoch blue dotted lines
BITFINEX:XRPUSD
by Tradingstrategyguides