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Tradeplan

A Bad Trade Plan Is Better Than No Trade PlanTraders often talk about the need to be patient but to be patient, we must know what we are being patient for. That is why we have a trade plan and know ahead of time exactly where to enter, where to place a stop, where to exit, and how much size to put on. In this post I continue with our trade planning exercise of 30 planned trades by making a trade plan for LEN. Keep in mind that the exercise is all about learning consistency and discipline and not about the method or whether the trade wins or loses. In the video, I speak of not being worried about losing all 30 trades in a row. It's not that I have steel nerves, it's that i have planned ahead of time for 30 losses with my position size. Shane
NYSE:LENLong
by ShaneBlankenship
Defining Target for Risk Reward: Maybe you shouldn't?The trade plan is broken up into parts. We have an objective and consistent entry, stop, and exit plan. Here I will be talking about the exit plan and setting targets that will give you a particular risk/reward ratio. There are no absolutes when it comes to what risk/reward you should be aiming for, a lot has to do with how you handle risk and loss and your overall understanding of markets. Defining the stop (risk) is relatively easy compared to defining the target (reward). Mostly you need a clean set of statistics on an objective method. This will give you an average distance that the swing will run in relation to your method. The reward part of the equation is a function of how far your stop is to your entry. There is no one-size-fits-all when it comes to trading. For many, it may be best not to set a target, but instead use something simple and objective like a moving average to exit the trade. This way, you get what the market gives you while incorporating consistency and objectivity into your exit plan. Keep it simple, objective, and consistent, and learn as you go. In the video, I make something up on the spot that may give you some ideas. I use a 20ema as a profit stop only after price has made a new high. It's simple, principle-based, and it's objective. No matter what your method, knowing where you are in the swing cycle will help in defining entry, stop, and target, and this will directly influence the risk/reward ratio. Shane
AMEX:IWMEducation
by ShaneBlankenship
2
🚀 SEI Price Discovery and Upside Potential! 📈💹📊 Analysis: Price Discovery: SEI is in "price discovery" mode, testing the $0.77 - $0.83 support area. Laddering In: Planning to add to the position in this support area. Upside Potential: Anticipating further upside over the next few weeks. 📈 Trade Plan: Ladder In: Between $0.77 - $0.83. Targets: Aiming for targets at $0.96 - $1.00. Stop Loss: Set just below the white support line, slightly below $0.70. 🌐 Note: Keep a close eye on market dynamics and adjust strategies accordingly! 🚀📊 #SEI #PriceDiscovery #TradePlan 📉📈
Long
by Richtv_official
Ascending Triangle Points to Bullish ContinuationIntro BINANCE:BTCUSDT gearing up for a significant move today, and I'm here to break down the potential price action. Over the weekend, BTC moved interestingly, closing the CME gap and aligning with the CME's close price as we stepped into Monday. With this setup, we're eyeing an imminent breakout. Weekend Wrap-up and the CME Gap: The weekend saw Bitcoin hovering below the CME gap, but as predicted, it pulled back to around the $52,160 mark by Monday. This retest sets us up for the next leg. Ascending Triangle Formation: On the charts, Bitcoin is carving out an ascending triangle, a classic continuation pattern hinting at a bullish outcome. Given the trend's bullish nature, I'm eyeing an upward move, with immediate targets set around $54,000. Should a bearish scenario unfold, which seems less likely now, support at $50,000 will be crucial. ETF Flows and Market Reaction: The Bitcoin ETF market dynamics play a pivotal role. Although ETF flow data is typically available the next day, I'll be the first to update on Twitter. These inflows can trigger the breakout, so stay tuned. Liquidation Heatmap Update: A staggering $1.2 billion in Bitcoin short positions has accumulated above the current price level. A break above $53,000 could trigger a massive squeeze, potentially propelling BTC towards and beyond $54,000. Funding Rates and Market Sentiment: High funding rates indicate a market leaning towards long positions, a sign of bullish sentiment. Though it also suggests caution as markets could be getting overextended. But in bull markets, this is common. Technical Milestones: Bitcoin's weekly close has confirmed above the critical 0.618 Fibonacci level, a bullish signal historically leading to robust bull markets. The next resistance to watch is between $57.5k to $58,000, my target for the next potential pullback. Ethereum's Outlook and the Upcoming ETF: COINBASE:ETHUSD is also worth your attention as its Spot ETF looms, set to debut in about 95 days. With a lower market cap than Bitcoin, inflows could have a more pronounced impact, making ETH a compelling trade in the coming months. Remember, whether you're trading on the spot or futures, stay updated, and don't overextend your positions. Bitcoin is showing all the signs of a bull run, but as always, the markets can surprise us.
COINBASE:BTCUSDLong
by CryptoSeaTV
Context and Learning To Change With ChangeOne of the hardest things for traders, or anyone for that matter, is to adapt to change. Mostly we get stuck when things change, which makes trading difficult since the very nature of markets is change. This is where the cliché 'going with the flow' originates, but simply understanding the cliché isn't enough; we must internalize and practice it and get it in our bones. In this post, I will outline a trade plan for RNG. This is a part of our '30 Planned Trades' series, where we plan every aspect of the trade ahead of time and then execute what we have planned. One aspect of a trade plan is the method or setup. Setups don’t happen in a vacuum, there is a context that determines the meaning of the content. I’m going to approach context very simply here as the thing that decides if the market is going up or down. I often read things about how I should follow the trend or go with the flow or don’t fight the market, but exactly what trend or flow should I follow? It’s too abstract, so I’m going to fix a cycle to follow and learn to let go and change when it changes. In the video, I show the basics of a simple practice you can try, using a rolling 100-bar cycle to determine if we are looking for long setups, short setups, or in a transitional or neutral phase. I not only want to be precise and consistent in my Trade Plans, I want to be consistent in my methods. By adhering to a fixed cycle and adapting with changes, I avoid the need to guess or predict market directions, maintaining balance in my approach. Think about this: If you charge your mind with the impossible task of predicting a market when markets are unpredictable, you will end up a nervous wreck and then wonder why your trading is so emotional. I encourage you to try this practice. Since it keeps you from constantly looking to the left of the chart or at higher time frames for more information, it will likely push you out of your comfort zone into the unknown, which is a good start. Shane
NYSE:RNGEducation
by ShaneBlankenship
Nothing Works, Either The Trader Works or Doesn't WorkThis post is a trade plan of IOT. Making a consistent trade plan helps to structure ourselves as traders. This give us some control in the ever-changing uncontrollable environment of markets. At first, it may seem tedious to do all this work, but that is only because our mind resists any kind of structure. The title of this post is saying to quit chasing after the perfect method and spend some time setting our own foundations. Implementing a focused consistent method is like a framework that you can learn from and even design new methods from within that framework. The key is the focus and consistently in what we do. In the video, I also talk about the components and process of a swing and how I use them to design my methods. Don't think in terms of technical analysis, think about it in terms of structuring simple buyers and sellers to see who is in control at any given time. The end of the video gets cut off a bit because i tend to babble too much and run out of time but there will be more as I go through the 30 trades exercise. Shane
NYSE:IOTLong
by ShaneBlankenship
Market Structure: Seeing In SwingsMarket Structure is simply making distinctions in price flow. its putting structure around what looks like chaos so that we have a way to measure and orient ourselves to any market in any timeframe. When I look at a market, I want to see objectively in swings. Swings are the common thread that weaves through all markets and timeframes, providing a clear indication of who is in control at any given moment. They consist of distinct components and follow a process, forming the foundation of my trading strategies and setups. Market Structure Definitions: Confirmed Swing High/Low: A new high confirms a swing low and a new low confirms a swing high. Relative: Major Swing: The largest reaction leg in your frame. Minor Swing: the next largest reaction leg. Balanced/Relative Swing: Same size reaction legs. Expanded Swing: Reaction leg larger than previous reaction leg. Components of a Swing: Impulse Leg: The leg that takes out a previous high or low. Reaction Leg: The retracement or pullback after the impulse leg. Impulse Leg Shelf: a small range at the end of an impulse leg Reaction Leg Shelf: A small range at the bottom of a reaction leg
NYSE:CMAEducation
by ShaneBlankenship
2
BTCUSD - Daily + Weekly ViewFirst thing I notice when looking at the daily chart, is the divergence with RSI and price action. Then I can also see we had a breakout below the ascending support. Now when I take a look at the weekly chart, this is what I see. The weekly timeframe definitely shows that the bullish momentum has stalled out. Indications of that include; RSI held below 70 along with a relatively strong bearish rejection candle. This leaves me to now believe there is a chance of a correction perhaps down towards the 37k handle as pointed out on the chart. For all of the above mentioned reasons, it doesn't make sense for me to hold my long positions and I'm looking for shorting opportunities. That's it - That's all Trade Safe
BITSTAMP:BTCUSDShort
by Michael_Harding
AUDUSD 5:1 R2R Trade IdeaWith everything going on, I'm looking to enter at 0.6585 with a stop loss just below the last 4hr candle's low. I do have a target set at 0.6678 giving this trade idea a 5:1 risk-2-reward. Reasons why I like this trade include: 1. Economic Calendar forecasts this week are for negative US data 2. Technically on the 4hr, RSI closed above 50 following a hammer + bullish engulfing. 3. Last week equity market closed for the week at all time highs once again. I believe we may see some further bullish strength this week in equities which could add some strength to the risk-on currency pairs such as the AUD, CAD, & NZD .
Long
by Michael_Harding
Weekly Chart Signal Trade idea- Multi-time frame AUDUSD Jan 04th 2024 1. The weekly swing is bearish on the weekly time frame. (See green 1 for strong market structure) A. I expect price to move through my risk management strategy to move from 1 to the 2 on the weekly timeframe 2. Price is currently in the equilibrium between the weekly high strong (see green 3 & 4 for reference) Price is more likely to move from strong market structure to weaker structure. This is how I based my phases of the market. 3. Price is currently in C.4 supply zone and is trending bullish for the Change of Trend (CHoCH) 4. Trade Ideas (Investor trade plan) A. I could short trade with a risk entry at the short trade at Black 5 B. I Could also go to a lower time frame and wait for a confirmation entry for a higher probability trade
Short
by Trader_Miles
Multi-time Frame Analysis of GBPUSD Jan 4th 2023 - Daily Chart Analysis 1. The Daily swing range is from 1 & 2 (See Blue 1 & 2 for reference) My prediction will move from 1 than to 2 but that is in a long term horizon 2. Current price action is between the D-Ibos high weak & the 4h-Swing High Weak. 3. Price has mitigated the equilibrium of the daily swing range 4. The trades off the supply and demand zones are lower probability tend to be lower probability 5. Price entered the daily phase B (see blue 3 for reference) and had a reaction causing a push down back to the EQ of the daily low strong (See 4 for reference) 6. Price is currently in the daily C.4 demand zone. A. Price is bearish on the daily and 4h in between the daily high weak and daily low strong. If price switches to bullish by breaking the daily internal break of structure than I will look for longs off demand zone generated from the break. B. If price breaks the daily low strong (blue 4 for reference) than I will switch to bearish set-ups (A.1)
by Trader_Miles
US30 Simple 3:1 ScalpRSI on the 15 min timeframe is now back above 30 suggesting we may see a short-term bottom. With that said, I mapped out a 3.62:1 R2R setup. Important note when taking my trading recommendations is to always move SL to breakeven once in profit by 25 points with the US30 and then apply a trailing SL to the target. This helps manage to manage risk in the event price-action doesn't reach the desired target. Feel free to send me a DM if you need assistance. == COMMENT == LIKE == SHARE ==
BLACKBULL:US30Long
by Michael_Harding
1