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QTUM/USDT : C&H formed in high TF and a bullish flag on lower TFBINANCE:QTUMUSDT Hello everyone 😃 QTUM had a Cup & Handle formation on 12H TF. Also it had a breakout from bullish trendline on 4th April ! Now on lower timeframe : It has formed a bullish flag ! 📌 All of the signs are strong bullish and it could be safe to take long after breakout confirmation... 📍 QTUM's C&H pattern wasn't valid enough , But we can count it for bullish sign ;) Attention: this isn't financial advice we are just trying to help people on their own vision. Have a good day! @Helical_Trades
Long
by Helical_Trades
28
Sundial Growers INCI heard about $SNDL from traders on Twitter. Sundial Growers, Inc. engages in the production and distribution of flower, pre-rolls and vapes. It operates through the following segments: Cannabis, Ornamental Flowers, and Corporate. Price action is showing us it's intentions so we basically need to be patient in order for it to play out to time a good location to execute some orders. I would actually like to see it head back down around the $2.00 area in the event this weekly candle close in strong bullish fashion. I'll update as it progresses over time. NOT TRADING ADVICE!
NASDAQ:SNDL
by ChrisJTradesFX
BITCOINI just wanted to do a quick markup on Bitcoin. So, I missed out on the initial rally, however I'm hoping that we'll soon see the breakdown in price in order for it to go through a correction phase. It's wishful thinking due to the bullish momentum but I would love to see price action pullback to the $31972-$34625 area to execute some new orders. There's a nice amount of potential profit margin underneath, but we all must wait & see how it unfolds. Happy Trading!
FX:BTCUSD
by ChrisJTradesFX
Doge I figured my 1st published idea in the new year should be about crypto. I believe Doge is in a pullback phase and should resume to rally afterwards, but there's continuation areas that can potentially assist in pushing price back up. Looks as if price is heading right for one of them areas, but if price action doesn't "respect" it then I would look to take it to the next level that can support it which would be even lower. I would observe this drop from the sidelines until price action shows me otherwise then I would patiently wait for my turn to execute. I would also execute after price action B.A.R. the highs. We shall see. NOT TRADING ADVICE! It's been a minute since I've been on here to express my ideas with you all, but it feels good to be back! Happy New Year & Happy Trading!!
BINANCE:DOGEUSD
by ChrisJTradesFX
4
RULE OF THREE TIMEFRAMESHello traders, this time I came with an educational post, because on Friday I don't take any trades due to sloppy markets. Most of the times I see question like how many and what timeframes should you use when trading. Rule of three timeframes says, that we should use at least two but no more than three timeframes. Personally, I use W,D and 4h. Here is how I use 3 TF in my trading strategy: 1) The highest TF should be used for spotting an overall and long-term trend and plotting an important key levels. So I basically do my charting on the W timeframe, identify the trend and plot the key levels. 2) Everyday I start on the D, that's where I do my analysis and what I call my main TF. I use Daily to plot daily structures, identifying the trend from short-term perspective, plot trend lines etc. When I spot a good opportunity in the market, I check W if I am going with the trend 3) After spotting an opportunity on the D, checking if I am with trend, I go to the smallest TF I use-4h. That's where I am looking for a good entry. Hope this small summary will help you, thanks for stopping by and checking my post! Don’t forget to let me know your opinion on this in the comment section below! 💬 Sharing is caring! 👨‍👩‍👧‍👦 Have a wonderful and profitable day! ❤️ - ProfitalzTrading
COINBASE:BTCUSDEducation
by profitalztrading
3
What Are The Best Indicator Settings & Timeframes?Timeframes and technical indicator settings are ubiquitous concepts to technical analysts, two things that they will have to interact with at some point in point. For certain traders, they make part of the million-dollar questions: "What is the best timeframe to use?" "What are the best indicator settings to use?" Where "best" refers to the timeframe/settings that lead to the most profits. Both questions are very interesting and very difficult to answer, yet traders have tried to answer both questions. 1. What Is The Best Timeframe To Use? Timeframes determine the frequency at which prices are plotted on a chart and can range from 1 second to 1 month. We can notice that price charts tend to be similar to each other from one timeframe to another, having the same irregular aspect and the same patterns, this explains the fractal nature of market prices, where shorter-term variations make up of longer-term variations found in a higher time-frame. Based on this particularity, methods used to determine the start/end of a trend can be the same regardless of the selected time-frame, as such traders could choose a time-frame based on the trend they want to trade, for example, daily/weekly timeframes could be used to trade primary trends while other could use intraday timeframes to trade intraday trends, note that it is still possible to trade a specific trend by using any time-frame you want, however using a timeframe that is too low for trading long term trends might result in an excess of parasitic information while using a high timeframe for trading short term trends will result in a lack of information. It is important to note that lower time-frames will return price change of lower amplitude, as such trading the variations of a lower timeframe will make a trader more affected by frictional processes, particularly frictional costs, as such trading lower time-frames aggressively might require more precision, which is why beginner traders should stick with higher time-frames. So "the best timeframe to use" should be chosen based on the trend the trader wants to trade, with a timeframe giving the right amount of information to trade the target trend optimally. Your target trend will depend on your trader profile (risk aversion, trading horizon...etc). 1.1 Multi Timeframe Analysis Some traders might use multiple timeframes, such practice is called multi-timeframe analysis and consists of getting entries in a certain time-frame while using the trend of a higher timeframe for confirmation. There are various methods in order to choose both timeframes, one consisting of choosing a timeframe such that the trend of the lower one is an impulse of the trend of the higher timeframe. 2. Best Technical Indicators Settings When using technical indicators, reducing whipsaw trades often introduce worse decision timing, finding settings that minimize whipsaw trades while keeping an acceptable amount of lag is not a simple task. Most technical indicators have user settings, these can be numerical, literal, or Boolean and allows traders to change the output of the indicator. In general, the main setting of a technical indicator allows making decisions over longer-term price variations, as such traders should use indicator settings in order to catch variations of interest like one would do when selecting a timeframe, however, technical indicator settings often allow for a greater degree of manipulation, and can have a wider range of values, as such setting selection is often conducted differently. 2.2 Indicator Settings From Optimization When using technical indicators to generate entry rules it is common to select the settings that yield the most profits, various methods exist in order to achieve optimization, certain software will use brute force by backtesting a strategy for every indicator setting. It is also possible to use more advanced procedures such as genetic algorithms (GA). GA's are outside the scope of this post but simply put GA's are a search algorithm mimicking natural selection and are particularly suitable for multi-parameter optimization problems. When using a GA the setting is as genes in a chromosome. Such a selection method has some limitations, the most obvious being that optimal settings might change over time, rending useless the process of optimization. Optimization can also take a large amount of time when done over large datasets or when using a large combination of indicator settings, it might be more interesting to analyze the optimized settings of a technical indicator over time and try to find a relationship with market prices. 2.3 Dominant Cycle Period For Setting Selection Certain technical analysts have made the hypothesis that the dominant cycle period should be used as a setting for technical indicators instead of a fixed value, this method can be seen used a lot in J. Elhers technical indicators. Most technical indicators using the dominant period as a setting are bandpass filters, which preserve frequencies close to the dominant one. There are several limitations to such a selection method, first, it depends a lot on the accuracy and speed of the dominant cycle period detection algorithm used, the noisy nature of the price makes it extremely difficult to measure the dominant period accurately and in a timely manner, in general, more accurate methods will have more lag as a result. Another downside is that it is not a universal solution, technical indicators can process market price differently. 3. Conclusion From the two questions highlighted at the start of this post the one involving technical indicators remains the most challenging one to answer, which is often the case with "what is the best..." kind of questions. What is certain is that there isn't a universal setting for each indicator, certain settings might be more adapted to specific market conditions (such as ranging or trending conditions), and the presence of a setting in itself will always mean that interaction will occur at some point, as such recommending an indicator setting or timeframe must be done with a significant rationale. The problem of the best technical indicator settings offer a great challenge for any technical indicator developer, but it is important for the common traders to lose some focus about them, while important, these should not be adjusted in opposition to your trader profile , having a well-defined trader profile will help you adjust these settings more effectively, as such a reasonable answer to "what are the best timeframe/indicator settings?" could be "the ones that are adapted to your trader profile".
Editors' picks
NASDAQ:AMDEducation
by LuxAlgo
26
British Pound/Australian DollarThe British Pound/US Dollar is the currency pair I track & trade. However, due to this weirdo year and the craziness of the US Dollar I felt the need to add a non US Dollar currency pair to my watchlist which came down to the Euro/British Pound Vs. British Pound/Australian Dollar.. it doesn't take rocket scientist to know who won that bout. Let's go! Even though GBP/AUD been ranging since June, I am leaning more in the bull's favor, but it's important to not be very rigid on your own biases so I'll give two scenarios on what I would look for with this pair. Confluence (3 or more): 1. P.A. is working off of HTF diagonal support (outer) dating back to 2013. 2. P.A. pushed off of HTF diagonal support (inner) dating back to September 2020. 3. P.A. respected HTF liquidity zone, bull's favor. Due to the ranging I would only look from zone to zone in order to play it safe. I would look to short if there's a B.A.R. of the $1.7958-$1.8055 levels, and look to $1.7700 as a take profit. THIS IS NOT TRADING ADVICE! Also, if my analysis help YOU in any way, shape or form then please consider donating to the cause. It's appreciated.
by ChrisJTradesFX
EXp World Holdings This is my take on what I see, technically. Confluence (3 or more): 1. H.T.F. continuation order block formed. Bull's favor. 2. P.A. heading towards order block after B.M.S. 3. P.A. breached previous LHs. Precursor. 4. Bullish Wedge currently forming from H.T.F. perspective. 5. P.A. rallied after O.B's 1st test. I would look for price to break lower before a B.A.R. occur with the diagonal resistance. If the bears were to breakthrough barriers then I would wait for a B.A.R. of the $32.50 down to the $19.72 level since there's a nice potential profit margin within that range that can be seen from a bird's eye view. We shall see... Fundamentals: "EXp World posted revenues of $564.02 million for the quarter ended September 2020, surpassing the Zacks Consensus Estimate by 37.73%." -Yahoo Finance
NASDAQ:EXPI
by ChrisJTradesFX
U.S. Dollar UpdateI don't have much to say, but I will state that I feel something is soon to happen with the greenback. I personally feel like the bears are going to enter the market but it may take some fundamentals to expedite the process... I'm just spit-balling my thoughts. You have to remain flexible so it'll be wise to plan for two scenarios in the event your initial analysis doesn't play out the way you see it. I would be more bullish after price action work it's way on the other side of that diagonal resistance, and I would look for a strong push down from the $93.005 level IF the bears stay in charge. We shall see... Also, if my analysis help YOU in any way, shape or form then please consider donating to the cause. It's appreciated.
TVC:DXY
by ChrisJTradesFX
Overview: Bitcoin formed a simetric triangle!!!In Daily timerame. we believe that Bitcoin is into the phase of-re-accumulation. That is a good singal that bullish is prepare for the massive bought of Bitcoin between the November and December we could to reach the $14,000 USD Also, I want to share the weekly timeframe to look out. We are in the clearly re-accumulation zone!!! What is mean that? 1. That mean that Bitcoin doesn't going to down below of $10,000 USD. 2. That re-accumulation zone it's another good opportunity to buy more Bitcoin!!! 3. It's the latest once that Bitcoin is doesn't going to the below of $10,000 USD. The most opportunity is to make trading or accumulate Bitcoin!!! So, that is the ultimate opportunity because the bulls are option to buy Bitcoin for medium and long term But, waoh, we see that in weekly timefrmae Bitcoin is into this re-accumulation zone and then, we see that Bitcoin could to have an objective to reach up the $16,000 USD in medium term.
COINBASE:BTCUSDLong
by harisonhbn9718
Dow Jones Index Mark UpMonthly & weekly analysis from a daily perspective. It's extremely important to understand market structure in order to be on the right side while trading. Even though current market conditions is in the bear's favor, I'm bullish on DJI due to it's bullish structure from the higher time frames. Considering that my levels are HTF based, if scaled down you should be able to locate good entry points for short orders. I would look for continuation levels that's in correlation to this market's current conditions. I would look for bullish opportunities after price action has reached the continuation zone ($22789-$24300). It's obviously a big zone, but that's the area where I would look for the reversal to take place in bull's favor to head further up. We shall see.. Also, if my analysis help YOU in any way, shape or form then please consider donating to the cause. It's appreciated.
U
by ChrisJTradesFX
Bitcoin UPdateThese are the levels I'm currently paying attention to with Bitcoin. "Chris, what are you waiting to see take place with price?" I'm waiting to see if Price Action will do a B.A.R of the $10590 level before heading further down. "But why there, and do you believe it's going down?" All due to the clues that's being left behind in price. A key level ($12190) was breached that's pretty visible from the Weekly perspective, if today's Daily candle close as an engulfing then that is very significant along with the "area of interest" ($10590 - $11044) being hit multiple times which in return weakens it. "Okay, where would you get in and take profit if you were to short it?" Were you not paying attention? Rhetorical. But I would wait for a B.A.R of the $10590 level and I would look to take some profits around the $9600 area. "What if you're wrong about everything you just told me?" Then so be it, readjust. Also I'm not a financial advisor so trade at your own risk. However, I'll wait until there's a B.A.R of the $12190 level and that's it. Once again, I am not a financial advisor. Got it?! "Understandable, and good look."
BITFINEX:BTCUSD
by ChrisJTradesFX