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KOG - Trading the Range!RANGE BOX: When the price is in a ranging market look for date of when the price was last in its range. Example above shows we had the range, a breakout above and then a break back inside the range. Draw a box around the range and then identify the buy area and the sell area. This stops you from trading in the middle of the range and getting chopped up by the market. Always wait for the lower levels to buy and the higher levels to sell. If either level breaks wait for the support or resistance to turn into support or resistance. This give you an indication of potential further movement in the direction of the breakout. Within the range you will find trends, smaller support and resistance levels and chart patterns. This will further help you to trade within that range of scalp in between levels. Identifying these levels and patterns also give you a view of potential future movement. Again, this helps towards making sure you don’t get caught trading in the middle and getting caught the wrong of the market. Now we’ve updated the range to present day and it gives us a clearer picture of what the market has been trying to do since October 2021. We can the H&S back in November which as yet hasn’t been tested, with patterns like this they don’t always get a retest but on most occasion the price will come back to test it. This tells us that if we break above the range high again there is potential for the price to test that 1860 at some point. We can also see that there is a double top recently which caused the price to break back inside the range. Again, on most occasions its likely the price will want to test the pattern or neckline at some point. This gives us an indication of potential movement in the direction of the double top and if we break the double top (we fail a triple top) then there is a chance we could go further up based on support below to test the shoulder of the H&S from Oct. We then add our every day analysis, support and resistance levels and smaller timeframes to further confirm movement and potential challenges on different price regions. If we now look at the bottom of the chart we have one significant area of interest. That’s the buy area we have been using to take the long trades within the range. We can see its given us a triple bottom in this region where we have seen rejection in price. This area has worked well for Bulls but now we will need to be cautious if the price comes down to challenge this area again. Based on what we mentioned above with patterns its likely the price will want to come down to test this level again at some point. Keeping that in mind we also have to be cautious here as the level has been rejected 3 times forming the triple bottom. The is huge potential now for the next test on this level to break this level aggressively which could take us down towards the lower key support of 1730-20. Hope this helps traders, its more an educational post rather than our analysis but please do back test it and see how it works for you. Any questions please do ask, we try our best to answer everyone. See you tomorrow for the KOG report. As always, trade safe. KOG
FX:XAUUSD
by KnightsofGold
37
XAUUSD: USD recovered during Thursday sessionOn the FX market, the USD recovered in the US session after weakening in the first half of the trading day, despite the report that last week's unemployment claims exceeded expectations (218K vs 211K forecast) and sales December pending home sales in the United States disappointed (unchanged compared to forecast +0.8%). At the end of the session, USD increased on a large scale after 4 consecutive sessions of decline, except for JPY. GBP led the decline, followed by EUR. Gold increased more than $7 to nearly $2088.50/oz at the beginning of the Asian session, but retreated in the European session and the decline slowed to around 42065/oz, down more than $12 during the day. In the debt market, 2-year and 10-year yields increased 3.7bp and 4.6bp to 4.28% and 3.85%, respectively.
OANDA:XAUUSD
by Chart_MasterPro
GBPJPY: The Japanese Yen will likely be the most interesting The new governor of the BoJ, Kazuo Ueda, has not made drastic changes in monetary policy as expected, causing the Japanese yen to weaken against the USD in 2023. Positive signs appeared in November when the USD/JPY pair fell and bond yields also fell, raising hopes that the BoJ was about to change policy. The BoJ is expected to make an important policy decision next spring, based on the results of salary negotiations. If the BoJ does not change policy as expected, the yen could continue to struggle in the first half of 2024. Although the BoJ may change policy later, this uncertainty will cause the yen to fluctuate widely in the first half of next year. In short, the prospects of the Japanese yen next year depend largely on the BoJ's decision after the salary negotiations. The lack of certainty could create major volatility in the Japanese currency market.
Short
by Chart_MasterPro
USDJPY: Asian session update: Stocks and USD fall as they begin USD weakened, JPY and antipodeans led the rise Asian stocks fell, with futures on the S&P 500 index up slightly by 0.07% US 10-year bond yield falls 1.7bp to 3.88% Gold increased 0.5% to around $2063/oz WTI oil increased 0.2% to above $73.70/barrel Bitcoin accumulates around 43.5K Investors continued to digest November PCE and December Consumer Sentiment data released on Friday, which showed that monthly inflation in the US fell for the first time in more than 3½ years, while sentiment Consumer sentiment remains strong, reflecting the economy's durability. A deceleration in core inflation and growing recession fears will prompt the Fed to shift from "committing to fighting inflation with higher interest rates for longer" to reassuring markets that it will "not hold rates." stayed high for too long". In the FX market, major currencies increased slightly after the Christmas holiday as the USD weakened. USD/JPY is steady at 142.30. The prospect of the BoJ removing its ultra-loose policy has supported JPY's rise in recent weeks. Yesterday, BoJ Governor Ueda announced that the possibility of reaching the inflation target is "gradually increasing" and that they will consider adjusting policy if there is "enough" prospect of reaching the 2% target in a sustainable way.
Long
by Chart_MasterPro
GBPUSD: The dollar finds its footing as Fed officials downplay hThe dollar index and dollar index futures both traded flat during the Asian session on Tuesday, but marked strong recoveries from four-month lows over the past two sessions. A series of Fed officials said that although the bank will cut interest rates in 2024, expectations of an imminent shift are unfounded. Chicago Fed President Austan Goolsbee said the bank has not committed to cutting interest rates anytime soon and joined some other officials in pushing back expectations of a sudden drop in interest rates. However, market valuations are suggesting a nearly 63% chance of a rate cut by March 2024. Goldman Sachs (NYSE:GS) analysts also said Tuesday that the central bank will cut interest rates five times by 2024, with the majority of the cuts coming in the first half of the year. ​
Long
by Chart_MasterPro
1
USDJPY: Japan's ruling party proposes to reduce income taxReuters reported: The tax reform council of Japan's ruling Liberal Democratic Party has agreed to reduce income taxes to compensate households suffering from soaring prices and support a change in the deflationary mindset that has pervaded the country. past decades The move is also intended to encourage a healthy growth cycle driven by private sector demand, with tax policymakers increasing tax breaks for businesses planning to increase wages. The draft of tax breaks under the framework of tax reform in fiscal year 2024 will be finalized on Thursday
Short
by Chart_MasterPro
2023.6.1 Will the stock price of C3.ai weaken in three weeks?2023.6.1 Will the stock price of C3.ai weaken in three weeks? This chart shows the weekly candle chart of C3. ai's stock from its listing at the end of 2020 until now. The graph overlays the lines between the highs and lows of the past two years, the lines between the lows and lows, and the horizontal line of the strongest pressure level closest to the current stock price! As shown in the figure, the stock price of C3.ai began to rise in early May 2023 and has been closing positive for 5 consecutive weeks. After breaking through multiple pressure levels, it showed a standard form of releasing momentum by jumping short and opening high this week! In the next three weeks, there is a high probability that the rise of C3.ai will come to an end, retreat from the starting position of bearish positions in early April of this year, and then choose a new direction to break through!
NYSE:AI
by Think_More
I'm in a GBPNZD short. Is anyone else? 🙌🙋‍♂️Entry details are shown on the chart. Working the M45 time frame on this strategy. We're only looking for TP3. In some draw down at time of posting. I don't mind I trade my strategy knowing I have a back tested proven edge. Trade history can be seen below this trade idea too for full transparency. ------------------------------------------ I try and share as many ideas as I can as and when I have time. My trades are automated so I am not sat in front of a screen daily. Jumping on random trade ideas 'willy-nilly' on Trading View trying to find that one trade that you can retire from is not a sustainable way to trade. You might get lucky, but it will always end one way. ------------------------------------------ Please hit the 👍 LIKE button if you like my ideas🙏 Also follow my profile, then you will receive a notification whenever I post a trading idea - so you don't miss them. 🙌 No one likes missing out, do they? Also, see my 'related ideas' below to see more just like this. The stats for this pair are shown below too. Thank you. Darren.
Short
by pow_removetheguesswork
Quick EURGBP update👌🏦Quick update for the idea I covered below on Friday. This trade presented late on Friday and hit the desired target at 8am UK time I was logging on this morning. Friday isn't famed for being a big trading day and as a UK based trader once upon a time I wouldn't of taken this trade so late on. All my trading is automated now and even trades presenting late on in the day like this one are taken. If all confluences are met on the trading strategy an alert will present regardless of time. I'm comfy with taking trades at anytime of the day as the strategy is back tested and proven over the whole 24/5 that the market is open. It was a good start to Monday and hope you've all had a good start to the week to 👍 ------------------------------------------ I try and share as many ideas as I can as and when I have time. My trades are automated so I am not sat in front of a screen daily. Jumping on random trade ideas 'willy-nilly' on Trading View trying to find that one trade that you can retire from is not a sustainable way to trade. You might get lucky, but it will always end one way. ------------------------------------------ Please hit the 👍 LIKE button if you like my ideas🙏 Also follow my profile, then you will receive a notification whenever I post a trading idea - so you don't miss them. 🙌 No one likes missing out, do they? Also, see my 'related ideas' below to see more just like this. The stats for this pair are shown below too. Thank you. Darren.
by pow_removetheguesswork
Nice opportunity running on NZDUSD 👊Working our M30 NZDUSD strategy here. Entry details are shown on the chart. We're only looking for TP3. Trade history can be seen below this trade idea too for full transparency. ------------------------------------------ I try and share as many ideas as I can as and when I have time. My trades are automated so I am not sat in front of a screen daily. Jumping on random trade ideas 'willy-nilly' on Trading View trying to find that one trade that you can retire from is not a sustainable way to trade. You might get lucky, but it will always end one way. ------------------------------------------ Please hit the 👍 LIKE button if you like my ideas🙏 Also follow my profile, then you will receive a notification whenever I post a trading idea - so you don't miss them. 🙌 No one likes missing out, do they? Also, see my 'related ideas' below to see more just like this. The stats for this pair are shown below too. Thank you. Darren.
Long
by pow_removetheguesswork
Are you a champion hopper? 😬🙈Morning traders. I started yesterday morning by posting an idea with the phrase below. 'Lets start the morning with everyone's favourite! Gold' Well I'm kinda doing the same again this morning but this time it so we can all have some more food for thought at the breakfast table instead! Now here me out, I have drawn the two graphs in this mornings idea on the same gold H1 strategy chart I shared yesterdays idea from. The comment section was a good mix of feedback, some miffed at the stop out possibly and others very realistic in the reality that stop losses occur in trading. For this strategy yesterdays stop loss means we now have 5 losses in a row. But I wont be hopping off to another method or style either. 90% of traders get spooked at the first sign of a losing run and jump to the next strategy. Why will I stick with this strategy for gold on H1? Because of probability being factored in from the back tested data available. Hand on heart how many people out there actually back test a strategy? You can't plan for probability in your risk management if you have no data for your strategy. Transparency when sharing ideas has always been key for me and strategy test data is always included in my ideas just as the H1 gold data is at the bottom of this idea. This leads me back on to the graph drawings in this idea. The one on the left is the last two weeks of data for this strategy the one on the right is the last two years! Growing capital takes time. Losing runs are part of trading the growing capital part comes from trading a strategy with a proven edge. If you have a proven system why hop on to another one? I'll end this idea with a great quote from Steve Burns. '10% of successful trading is creating a system with an edge. The other 90% is following it' Enjoy your day traders. ------------------------------------------ Please hit the 👍 LIKE button if you like my ideas🙏 Also follow my profile, then you will receive a notification whenever I post a trading idea - so you don't miss them. 🙌 No one likes missing out, do they? Also, see my 'related ideas' below to see more just like this. Thank you. Darren
OANDA:XAUUSDEducation
by pow_removetheguesswork
7
Review of CADCHF last week two out of three hit target 🎯💲🏦Hello Traders Hope Sunday and the much needed rest is treating you all well. I spend parts of my Sunday looking back at the prior trading week. In doing so I've decided to share some ideas on completed trades and the methods I trade our script. Going forward during the week I'll look to post more live ideas as our script present them on the charts. At weekends I'll use time to review trades I've enter in order to shed more light on my methods. Here we are working the 30M time on CADCHF. I have the strategy in use set to a risk reward ratio of just over 1:2. Last week we had three trades of which two hit the take profit target set. As you will see from the chart I simply enter the trades that present on the chart and get on with rest of my day! I have a TradingView alert set to inform me of a new trade. These trades took me minutes to place, the two trades played out over a 32 hour period banking 57 pips! I simply wait for the next alert now which might be some time next week. Our strategy is a trend following strategy, can be used on any instrument and time frame. When all confluences are met the strategy presents the trade on the chart. I am alerted to this by a TradingView alert. I simply enter the trade and all of the trade data is printed next to the alert. Take profit and stop loss are set and I simply follow the trades outcome. The script runs on your TradingView charts and can be used on forex pairs,indices, stocks and crypto. The script can also be adapted to run on the charts to suit how you trade. The script removes all need for manual trading analysis freeing up so much more time. One of the most valuable tools the script possesses is the built in strategy tester. Once I have selected an instrument and time frame to work. I adjust the strategy settings and back test those settings until I find the best settings to then go and place trades on the market. For the pair in question here the back test data can be found at the foot of this idea. I started trading CADCHF in this manner back in July. The back tester data shown is from January 2020. This level of data allows our traders to build robust trading plans and strategies. No one can predict the future but this data does help with confidence and removes negative emotions we have all suffered while trading. Working to rigid planned trading strategies removes all uncertainty around entering trades. For this pair I know the pair has a ROI of 63% and a win rate of 44% based on 109 trades of data, risking 1% a trade on £1000 starting capital. When I enter trades I simply let them run knowing the back test data backs up this method of trading works. The old me would of regretted the last trade seeing an initial 15 pip gain disappear on the retrace into a negative. But having a roust proven strategy to stick too I know let trades run and in this case to a take profit hit. The old me would of dipped out and lost out on that profit. This mechanical way of trading doesn't even see me looking at the charts much other that to place trades and write ideas! Make 2021 the year you spend less time at the charts! To learn more on the methods discussed please drop me a message.
by RichScott
Possible swing trading setup in EURUSDHello everyone! Since end of July the price is stuck between 1,16-1,20 price zone and EURUSD is trading sideways, however the trend on higher timeframe is still bullish . Recent price action indicates that there was a possible false breakdown below 1,17000 price and we might see further weakening of the greenback . 1,17400 - 1,17770 is the closest price zone, where (if we pullback from current 1,18100 level) the bulls might show another interest for buying and the demand might exceed the supply, which will support the price going north… …the main risk for continued USD weakness remains the US stimulus deal to be struck and the US Q3 earnings disappointment, which might generate strong demand for the greenback resulting EURUSD long squeeze. A possible swing trade setup is on the chart for you. // Feel free to share your opinion/position via comment and follow me for more upcoming ideas/setups + support my work by hitting like. :) For more information please check the link in my profile status... // Risk disclaimer: This is not an investment advice and you should carefully consider whether forex trading is right for you in light of your particular circumstances and financial resources. Trading spot foreign currencies (“FX”) is not appropriate for all investors, and the risks of FX trading can be substantial.
Long
by GIgor_021
FUN/USDT - The importance of the POCPOC or Point of Control is a critical level highlighted by the Volume Profile tool available on TradingView. It highlights the level at which most volume has been traded: be that buying or selling. What I look for when using the POC is it matching the midline - found at the exact halfway from the Entry and the Stop Loss of the setup. On my charts, the midline is usually drawn in yellow but in this precise case, you almost can't see it because the POC is over it! This is exacly what we want to see. Textbook and I thought it would be worth a share. To keep in mind, this is a second look at a setup on FUN/USDT which previously failed. Take care, Vlad The Crypto Trader
Education
by Be_Independent_Tribe
Elements of a Successful Trading Plan 106SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Elements of a Successful Trading Plan 106 The last Element that i will explain is Trading edge. 6. Trading Edge The season, in which the currency will exchange, it is beneficial to hold the exchanging edge down to maybe a couple setups when beginning. The more systems one plans to ace, the more troublesome it will progress toward becoming reliably profitable in the market. The following are the points of interest of exchanging edge: • Early Range Breakouts • High Volume • Tight Spreads • Combination preceding the breakout Follow your Trading plan, remained disciplined and keep learning !! Please Follow, Like,Comment & Follow Thank you for your support :) This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
BITFINEX:LTCUSDEducation
by SMPTrader
Tradingview Replay Function, Perfect your edge whenever you wantTradingView Bar Replay is a feature that you should take advantage of, In this post, I'll show you how it works and what it is good for. Turn Bar Replay On To turn on Bar Replay, click on the icon in the toolbar at the top of the screen. Adjust the Settings After you turn it on, you will see a new toolbar appear on your active chart. You will also see a vertical red line appear where your cursor is. The red line marks where the replay will begin, so do not click until you have scrolled back to where you want the playback to begin. You can use the scroll control on your mouse the move the chart back or click and drag the chart to move it. Clicking and dragging will not set the start point. Start the Replay Once you have scrolled back to where you want to begin the replay, click once on the chart and you will be in Replay mode. Now click on the Play button to start the replay. How it Can Improve Your Trading There are a few different ways that this feature can help you improve your trading. If you can think of any other use cases, feel free to leave them in the comments at the end of this post. Reviewing Your Old Trades You can use the playback feature to analyze what a chart looked like before you entered a trade. When you look at a trade a few days later, you will usually be able to see it from a more objective standpoint. This is because the emotion surrounding the trade has dissipated. So a follow-up analysis of your trades could reveal what you do well and what you need to fix. Backtesting You could use this as a free backtesting platform. Of course, the currency pairs that you test would need to have enough historical data available. But if there is enough data to do a solid test, then you would just need a simple spreadsheet to track your trades and you are good to go. Since TradingView makes it easy to do screenshots, it's also easy create flash cards of good setups, for later. Practice Another helpful use of this feature is to replay premium setups, so they get engrained in your brain. You can keep a spreadsheet of dates when good setups for your trading system happened and you can use this replay feature to play them forward a few times to get some practice, without going through the entire process of backtesting.
BITFINEX:BTCUSDEducation
by TheWolfOfBinance