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Technicalindicator

Drop Base Drop StrategyOur focus is now on a bearish trend in 2H time frame, where we will use the Drop Base Drop (DBD) strategy to execute a sell trade. This strategy aims to understand price action patterns that indicate strong selling opportunities. The first phase involves a significant price decline. When the price drops, it indicates selling pressure in the market. During this period, we should also observe increased volume, which confirms the bearish momentum. After this initial drop, the price enters a consolidation phase, known as the base. This base lasts for some time, where the price remains range-bound. During this time, traders are reassessing the market situation. We need to ensure that there isn’t any significant resistance within the base; otherwise, the bearish trend may fail. . Entry Point: We will open a sell position when the price breaks below the base. . We will set take profit levels based on support zones or previous price action to maximize our profits. . Always ensure you have a stop loss in place to safeguard your investments.
OANDA:XAUUSDShort
by Bullionbuzz
Bitcoin Weekly Chart: Breakout or Drop Ahead? 📊ey there fellow crypto enthusiasts! Let's dive deep into the world of Bitcoin and dissect its weekly chart. Remember that thrilling moment back in November 2021 when Bitcoin reached its all-time high at a staggering $68,997.75? 🚀 Oh, what a time it was! But hold on to your hats because what followed was a rollercoaster ride that left many of us scratching our heads. The charts turned red with a series of ominous red candlesticks, signaling a sharp decline that took Bitcoin down to $33,068.42. 😱 It was like hitting a brick wall, and the market sentiment quickly shifted as we witnessed a trend reversal. Things got interesting from there. We saw a Stop Loss Identifier Bounce, giving us a glimmer of hope for support. Bitcoin then tried to retest resistance, but it got slapped with rejection, forming a doji candlestick and yet another Sell Signal. The downtrend persisted, hitting a low of $15,473.18 in the support zone, while resistance trend lines were revisited after their initial breakout. But here's where it gets even more exciting. Another Stop Loss Identifier Bounce coincided with what could be a potential support zone and the first signs of a trend reversal. 🔄 This triggered a rally towards the next resistance zone, but once again, Bitcoin faced rejection. The resistance trend line was revisited a second time, and wouldn't you know it, we saw another Sell Signal and hints of a trend reversal. 🛑 Now, the big question on everyone's minds is whether this resistance trend line retest will result in a breakout 🚀 or if Bitcoin is gearing up for a double bottom or even lower levels. 📉 The crypto world is watching with bated breath as we navigate these uncertain waters. Stay tuned, folks! 📊💰
INDEX:BTCUSD
by sailortrades
2
EURUSD Forecast Navigating Supply and DemandIn our previous EUR/USD technical outlook, we discussed the possibility of the 1.0851 supply level turning into a demand level. On 10th April 2023, the price rejected this level, setting the stage for a push higher. Chart Analysis: EUR/USD Resistance and Support The daily EUR/USD chart shows the price reacting off the resistance zone around the 1.10422 level, with a support zone at 1.09098. If this support is invalidated, we can expect the price to test the next support at 1.07088. The 4-hour chart reveals a bearish divergence, and the 1-hour chart indicates a potential pull-back with the MACD below its zero line. Economic News Impacting EUR/USD The Euro will be affected by the ZEW economic sentiment and higher Euro Area inflation in the coming week. These factors, alongside hawkish ECB rhetoric, may impact the EUR/USD pair in the short term. The currency pair recently hit a yearly high of 1.1075, but a consolidation period may be needed before further upward movement. Stay updated on the latest EUR/USD news and analysis by checking out real-time rates, interactive charts, and expert insights. Upcoming Economic News Keep an eye on the economic news scheduled for the week, including: Mon, Apr 17: USD Empire State Manufacturing Index & EUR ECB President Lagarde Speaks Tue, Apr 18: EUR German ZEW Economic Sentiment Thu, Apr 20: USD Unemployment Claims, USD Philly Fed Manufacturing Index, USD FOMC Member Waller Speaks, and USD Existing Home Sales Fri, Apr 21: EUR French Flash Manufacturing PMI, EUR French Flash Services PMI, EUR German Flash Manufacturing PMI, EUR German Flash Services PMI, EUR Flash Manufacturing PMI, EUR Flash Services PMI, USD Flash Manufacturing PMI, and USD Flash Services PMI By monitoring technical analysis and upcoming news, traders can make more informed trading decisions in the EUR/USD market.
by ClintOnos
📊 Best Beginner Technical IndicatorsTechnical indicators are mathematical calculations based on an asset's price and/or volume that are used to analyze market trends and identify potential trading opportunities. 📍Trend indicators: These indicators are used to identify the direction of the market's trend over a given time period. Some popular trend indicators include moving averages, trendlines, and the Average Directional Index (ADX). 📍Relative strength indicators: These indicators compare the strength of a security's price action to the strength of a market index or another security. They are often used to identify potential buying or selling opportunities based on whether a security is overbought or oversold. Examples of relative strength indicators include the Relative Strength Index (RSI) and the Stochastic oscillator. 📍Momentum indicators: These indicators measure the rate of change in a security's price over a given time period. They can be used to identify potential trend reversals or confirm the strength of a current trend. Examples of momentum indicators include the Moving Average Convergence Divergence (MACD) and the Rate of Change (ROC). 📍Volume indicators: These indicators measure the trading volume of a security over a given time period. They can be used to confirm the strength of a trend or identify potential trend reversals. Examples of volume indicators include the Chaikin Oscillator and On-Balance Volume (OBV). 👤 @AlgoBuddy 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work, please like, comment and follow ❤️
Education
by QuantVue
6
#USDSGD long#midterm trading idea as you can see price recently test a very important static support area which has been tested 3 times before from above. price took out liquidity from the lowest low of 3 bounces and failed to close below an arrow that we have on the chart. also if you check weekly timeframe you can see also price tested a 200 EMA as well and didn't close below EMA neither. for taking this position: 1- we need a bullish engulfing candle which shows that bulls are back. 2- a bearish corrective to test supporting area 3- taking a position in direction of the primary trend which base on DOW theory is still intact and we still dealing with bullish market. it is important also to have a look at DXY chart to make sure it holds above 104.620 trading idea is invalid if: 1- price close below 104.620 on DXY on Daily timeframe 2- price close below 1.3659 on USDSGD on Daily timeframe
Long
by mohemati
#ETH/USDT 1HR CHART UPDATE !!Hello, community members welcome to another ETH/USDT chart update. If you find this update helpful, shoot the like button follow and share your views in the comment section. As we can see in the above-mentioned chart that ETH is currently trading inside the parallel channel and also following the lower mid-trend line as support. Currently, ETH is moving upside and trading just below the upper trend line. Now, if ETH breaks above, it can trade above and move upside towards the price level of $1300. Rejection from this level will lead ETH again towards its lowest price level which can be $900. MACD also printed a bullish cross-over. Let’s see how ETH performs in the upcoming hours. NOTE: This is not financial advice. This is for education purposes only. I am not responsible for the profits or losses you generate from your investments. DO YOUR RESEARCH BEFORE MAKING ANY TRADES. Thank you.
by Domino_Crypto
2