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My Idea on ASX:HUM in one single chartI have been monitoring this stock but at the moment I can say that it is was only humming but looking at the chart and on the well known structure (Cup-and-handle), I can say that this stock is about to scream instead of humming. i will keep an eye on it. The only issue it is not hype like other BNPL but it is catching up slowly. we may see a big move in next few days. According to my other indicators, it is a buy on low time frame swing trading but, if the Cup-and-Handle plays out, it may be another multibagger on my watchlist. I will keep you posted if anything interesting pops up. If you like these TA, please smash the likes. Peace and Love. XTF
ASX:HUMLong
by xtf_ze_trader
Market moves and it's PsychologyThere's a great image available if you just search in Google - look for "The Wall Street Cheat Sheet" - Markets move in cycles, which is built on human emotions. There's plenty of research available on this. If you look into anything like Elliott wave theory, Gann fans & boxes, Wyckoff or simply Fibonacci, you will find (in the end) it's all based on the psychology of human behaviour. Driven by greed, fear, stress and euphoria. Understanding this will help with the very fundamentals of trading. With proper risk management applied, traders can profit from the market with a shoddy Hit rate. Providing their edge is accompanied by good risk management. How often have you been in a losing trade & moved the stop loss? Added to the position? Or in a winning trade, bailed and seen the price move another 10, 20 or even 100 pips in your direction??? Below is a set of images breaking down the market moves in simple terms. For clarity ***This is NOT an in-depth breakdown of strategy, it's not the correct application of Elliott, nor Wyckoff. It's a simple post to get you, the trader thinking beyond just the trade ***. This image above shows the emotions as per the Wall Street cheat sheet. (Go google) Apply some logic to the chart - Look under the hood. Here you will see a basic Elliott wave structure playing itself out. This can then be broken into smaller pieces, like this below; It's almost like going from a Telescopic view down to a magnifying glass. You can see the price move up & consolidate, price move up and consolidate. This is all about timing. Trying to breathe with the market, or at least understand a little of it's cycle. Same applies on the way down. Again, there's a lot of information available on the Bear moves over the Bull moves and how they have different characteristics. But not for this post. Now let's look inside the top - the consolidation of the peak. Think of as simply as - some people have made enough profits from the move up & are selling their positions in vast quantities. There is some great content available on Wyckoff and the theory of composite man. But even at a simple level the basics can be explained as follows; 1) Buyers climax - Profit targets hit. 2) Automatic reaction (lots of selling at the same time) 3) A move to the upside to fool people into going long & collect liquidity at a better price for a move down. 4) Range bound moves - market manipulation (collecting positions ready for the short) 5) weakness - a first test to see the response of the market - also to push back long collecting stops of the eager beavers shorting. After this there are a couple of concepts - but you get the idea by now. You will see this type of structure if you zoom in a timeframe or two. Inside of the structure you will see the list above and how it relates on a chart. Like I said, this is not an in-depth strategy or breakdown of Elliott or Wyckoff. It's just putting the pieces together and to show how powerful tools can be to understand the market cycles. Obviously there's much, much more to understand before you jump into a trade using either Elliott or Wyckoff. But I hope this helps. Please feel free to send questions & like the post below. Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
BITSTAMP:ETHUSDEducation
by Mayfair_Ventures
37
Trade Set up See here I have made major support and resistance lines in a 1 hr Chart for Nifty. As you can see 14347 to 14443 (86 Points ) zone is a painful one. Markets can be very volatile in this range hence for this zone best will be to use an option hedging strategy, do not take a directional view in this range. Also, keep an eye on the support trendlines near closing i.e 14371. Closing below support Trendline line (Retest may occur or not I can't predict if it does and again red candle forms then markets will definitely touch 14222 and then to next support ) will cause some selling. Use these support and resistance and trendline to enter trades. In terms of going long look for trendline breakout in 30 or 15 min candle. Remember as markets fell heavily on Friday therefore general trend in the retail trader is to short the market. You shouldn't be impulsive in shorting, always wait for confirmation don't get trapped on any side, try to read the psychology of 90% of traders, and smartly make your move. See those who missed the rally will always come to buy at major support levels, hence you can use these to do scalp trade on the buy-side too to earn quick money till budget during intraday.
NSE:NIFTY
by vivekz_142
2
BTCUSDT batwing pattern still possibleHey everyone, Quick update on today's chart. Let's start with the daily HA chart The descending pattern is still active, rejection at the $28,800 level, the current candle is still looking strong and much like the previous one. No sign of reversal on this chart, however let's zoom in and see what we find. The 4 hour chart gives us more detail on what is happening right now I prefer using HA on this chart too because it allows us to see better when a trend can reverse, it doesn't give us the strength however. We have now seen 1 closed doji candle , that's a good sign and it is positioned in the highlighted entry zone, that could be a very good entry, however we are missing some key ingredients. Continuing the idea on the current chart(normal candles this time) . Even though we have a glimpse of hope due to the doji formed on the 4h HA chart, the elements we are waiting for in order to enter a long are: - Price should go over the 200MA on the 4h chart (4h close) - EMA ribbon should constrict - In our case the Sublime Waves should display a higher low that would allow us to draw a trendline Scenarios: With the way the price is positioned right now a (good)setup at this exact time is very difficult, even if we target lower timeframes , finding the safety exit is very difficult in both directions. On the upside we have the $34300 area that coincides with : - Legendary trendline (just above) - VPVR point of confluence - Lower part of the previous channel - Local resistance On the downside we have the $26200 area that coincides with - Local support - Projected drop from the previous high Not much much compared to the upside if you come to think of it. I do not exclude a test of the $25000 legendary trendline, however if this happens it will be a fast and violent wick , then returning to safety. There is also a good possibility that we will range throughout the weekend between the two SR levels the price is stuck into now What to do now? Shorting in a still bullish market or a young bear market is very risky, extra precautions must be taken, this are the times accounts are lost due to lack of preparation . My recommendation : Trades with SL's on high timeframes (1h,4h) should be avoided for now. If you really want to trade you can scalp, use small precise position that you only increase when in profit.
by SublimeTraders
AMD has underperformed peers but not for much longerAMD seems to be the contrarian play in the semiconductor field right now so I'm going to go ahead and suggest starting a position at these levels around $90 a share. It has been outperformed by its peers to a great degree recently for no apparent reason. I assume profit-taking attributed to taking it down from nearly $100 a share. Buy under $93. Sell half at $110. It will retest the $100 level, breakthrough, and hit resistance at about the $110 level from profit takers. Slight chance it has more legs than that but I'd say $110 is a fair price target for this stock. The SMH is up 11% in the last month and a half and AMD is down nearly a percent. Easy 10% return on this trade if not 20% if it hits my estimated price target.
NASDAQ:AMDLong
by EBITDAtiger
6
GBPUSD (W) is approaching some very potent bearish orderblocksGBPUSD is nearing some very potent bearish order blocks on the weekly chart, which can cause price to bounce back (at least temporarily). Also, the price delivery while going up is very clean and has no apparent open bullish order block. So if it falls, there's nothing to support it. Also, DXY and EURUSD are at their support & resistance (respectively). So this all seems in sync. Please keep in mind, these are weekly zones - not to be used directly for trading. Instead, use them to keep a watch on price on your smaller timeframes. Expected direction : Up (till it reaches bearish order blocks) and then Down
by makuchaku