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CANDLESTICK PATTERNS BASICS | Engulfing Candle 📚Hey traders, In this educational post, I want to discuss with you one of the most accurate REVERSAL candlestick patterns - the engulfing candle. On ETHUSD chart, I spotted for you bullish & bearish examples of this pattern. The logic behind this pattern is quite simple: ⭐️In a bullish trend, after a strong directional movement, the price reaches some important structure level. Growing steadily and forming a sequence of green bullish candles the price suddenly forms a strong bearish candle. What is particular about that candle is the fact that its total range (distance from the wick high to wick low) & body range (distance from body open to body close) exceed the ranges of a previous bullish candle. 🔻Such a candle we will call a bearish engulfing candle. Most of the time it signifies a strong spike in selling volumes and willingness of sellers to push. With a high probability, such a formation leads to a pullback or even a trend reversal.
by Mr_HaMza_
Daily analysis & day trading setups on NASDAQ NAS100USD 20220817Happy Mid Week Day, Happy Wednesday, Happy FOMC Day, NASDAQ has given up 13570 level which was vital turning point. Break of 13530 & 13480 will open downside. Reversal from 13530 & move above 13620 means we are in another bull run to 14k Line in the sand is 13570. Macro US Retail Sales, FOMC Buy Break: 13550, 13645, 13750, 13900 Reversal: 13460, 13375, 13230 Sell Break: 13485, 13390 Reversal: 13670, 13785, 13940 I regularly publish my daily analysis & trading plan for day trading setups. The links are here: NASDAQ DAX SPX Green Goblin levels are here >>> Fibonacci Confluence levels are here >>>
OANDA:NAS100USD
by TradingIndian
Daily analysis and day trading setups on DAX Ger30 20220817Happy Mid Week Day, Happy Wednesday, Happy FOMC Day, Dax managed to touch 61.8 retracement at 13968 of recent down move. If support at 13852 holds, it can go to 14373 Line in the sand today stands at 13852 Macro EU GDP, US Retail Sales, FOMC Buy Break: 13990, 14065, 14160 Reversal: 13900, 13840, 13800, 13750, 13690 Sell Break: 13915, 13845, 13810, 13760, 13710 Reversal: 14000, 14070, 14175 Green Goblin levels are here >>> Fibonacci Confluence levels are here >>> I regularly publish my daily analysis & trading plan for day trading setups. The links are here: NASDAQ DAX SPX
OANDA:DE30EUR
by TradingIndian
Daily analysis and trade setups on NASDAQ 20220805Happy Friday, Happy NFP Day, Macro : US NFP The real battle now in NASDAQ is to keep it above 13200 or bring it down below 13160. We saw this battle play out in the last 3 days. Is NFP a catalyst in breaking one or the other? This is one NFP where heart tells me to look for short trades and mind tells me to look for long trades. Buy Break: 13310, 13380, 13450, 13560 Reversal: 13200, 13160, 13110, 13040, 12970 Sell Break: 13260, 13180, 13150, 13100, 13030 Reversal: 13360, 13430, 13540, 13630 Green Goblin levels are here >>> Confluence fib levels are here >>>
OANDA:NAS100USD
by TradingIndian
Build a Trading System in 6 Steps✅ Step 1: Time Frame The first thing you need to decide when creating your system is what kind of trader you are. Are you a day trader or a swing trader? Do you like looking at charts every day, every week, every month, or even every year? How long do you want to hold on to your positions? This will help determine which time frame you will use to trade. Even though you will still look at multiple time frames, this will be the main time frame you will use when looking for a trade signal. ✅ Step 2: Find indicators that help identify a new trend. Since one of our goals is to identify trends as early as possible, we should use indicators that can accomplish this. Moving averages are one of the most popular indicators that traders use to help them identify a trend. Specifically, they will use two moving averages (one slow and one fast) and wait until the fast one crosses over or under the slow one. This is the basis for what’s known as a “moving average crossover” system. In its simplest form, moving average crossovers are the fastest ways to identify new trends. It is also the easiest way to spot a new trend. Of course, there are many other ways traders spot trends, but moving averages are one of the easiest to use. ✅ Step 3: Find indicators that help CONFIRM the trend. Our second goal for our system is to have the ability to avoid whipsaws, meaning that we don’t want to be caught in a “false” trend. The way we do this is by making sure that when we see a signal for a new trend, we can confirm it by using other indicators. There are many good technical indicators for confirming trends like MACD, Stochastic, and RSI. As you become more familiar with various indicators, you will find ones that you prefer over others and can incorporate those into your system. ✅ Step 4: Define Your Risk When developing your trading system, it is very important that you define how much you are willing to lose on each trade. Not many people like to talk about losing, but in actuality, a good trader thinks about what she or he could potentially lose BEFORE thinking about how much she or he can win. The amount you are willing to lose will be different than everyone else. You have to decide how much room is enough to give your trade some breathing space, but at the same time, not risk too much on one trade. Money management plays a big role in how much you should risk in a single trade. ✅ Step 5: Define Entries & Exits Once you define how much you are willing to lose on a trade, your next step is to find out where you will enter and exit a trade in order to get the most profit. ☀️ Entries Some people like to enter as soon as all of their indicators match up and give a good signal, even if the candle hasn’t closed. Others like to wait until the close of the candle. For example, in the chart below, entry was when the candle closed above the resistance line. ☀️ Exits For exits, you have a few different options. One way is to trail your stop, meaning that if the price moves in your favor by ‘X’ amount, you move your stop by ‘X’ amount. Another way to exit is to have a set target, and exit when the price hits that target. How you calculate your target is up to you. For example, some traders choose support and resistance levels as their targets. In the chart above, the exit is set at a specific price that is below the resistance zone. However you decide to calculate your target, just make sure you stick with it. Never exit early no matter what happens. Stick to your trading system! After all, YOU developed it! One more way you can exit is to have a set of criteria that, when met, would signal you to exit. For example, you could make it a rule that if your indicators happen to reverse to a certain level, you would then exit out of the trade. ✅ Step 6: Write down your system rules and FOLLOW IT! This is the most important step in creating your trading system. You MUST write your trading system rules down and ALWAYS follow them. Discipline is one of the most important characteristics a trader must have, so you must always remember to stick to your system! No system will ever work for you if you don’t stick to the rules, so remember to be disciplined. Oh yeah, did I mention you should ALWAYS stick to your rules? ✅ How to Test Your Trading System The fastest way to test your system is to find a charting software package where you can go back in time and move the chart forward one candle at a time. When you move your chart forward one candle at a time, you can follow your trading system rules and take your trades accordingly. Record your trading record, and BE HONEST with yourself! Record your wins, losses, average win, and average loss. If you are happy with your results then you can go on to the next stage of testing: trading live on a demo account. Trade your new system live on a demo account for at least two months. This will give you a feel for how you can trade your system when the market is moving. Trust us, it is very different trading live than when you’re backtesting. After two months of trading live on a demo account, you will see if your system can truly stand its ground in the market. If you are still getting good results, then you can choose to trade your system live on a REAL account. At this point, you should feel very confident with your trading system and feel comfortable taking trades with no hesitation. If you like this content help me grow ❤️🌱 GOOD LUCK ❤️🌹
Education
by parissap
11
How to choose the best style of trading?First one style - Scalping Scalping between 1 second to 3-10 min is literally “scalping” every price movement. We opened a deal, get a profit and closed trade. Its a risky and nervous way of trading. Meanwhile, scalping remains potentially the most profitable type of trading. Hardcore scalpers love to fight the market, Their strategy consists in a large number of small trades. The main goal is to close with a positive result. Scalping is interesting for new traders because + quickly gain experience; intensively study the mechanics of the market and graphic patterns; train the psychology of a trader. you do not need a large initial deposit, for scalping multiple turnover of working capital gives the potential to increase the deposit; many trading signals during the day, even on the same trading pair - Sitting in front of monitors for hours, focusing on the course of trading in order to catch that very good moment to enter a deal is not an easy A lot of stress. If you trade with leverages to pump your deposit you can lose all deposit if you trade without stop loss Day trading or intraday 1 hour - 1 day Its simple - After trading day, all transactions should be closed. No matter what happen on a market, cuz crypto trade 24 hours you open position at 7 and closed all positions by end of your trading day. + • Less risk and emotional stress, trading several hours a day; • Greater leverage or margin; • You can not bother much with fundamental analysis; • Don't worry about bad news that comes out between trades. It is recommended for all beginners to start in day trading. You need to learn to control emotions, learn to see market movements, changes in the trend, the mood of the players, correctly place orders and limits. Swing trading (aka medium-term, from 1 week to a month). You can hold your position for a days,weeks, months; Ideally, while the trend continues. Anyone with ideas and investment capital can try swing trading. Because of the longer time frame (1 hour, 4 hours, 1 day), the swing trader doesn't need to be at their monitor all day. Holding an open position for days or weeks can result in higher returns than trading the same security multiple times a day. Less stress There is time for doing other things, keeping the nerves and energy in a healthy state. Swing trading can be done through a simple computer or smartphone. - But Because swing traders hold their positions longer than intraday traders, they also run the risk of higher losses. Especially the risk of losses increases by holding the position every other day. Swing traders rarely enter at the best prices. Checking the chart 1-2 times a day, they are content with what the market will offer at the time of opening a position. Increased waiting time for a signal to enter a position, you can wait for the setup day after day. Medium term trading. This method is for those traders who catch long swings. "Medium-term" holds positions for many weeks and months. Medium-term traders hold positions from several months to several years. + Less stress, Lots of free time. For example someone can trade during all week, but medium trader can buy Bitcoin now for example at 20k and sell it at 50K after few month. Its more about fundamental analysis; Holding a position for several months is not suitable for traders who are used to being active. Long term investment. This type of trading on the principle of "buy and hold" BENEFITS OF LONG-TERM INVESTING Less stress: no need to constantly monitor the market. Time Savings: Less hassle: You don't have to learn different trading strategies or platforms as you won't be an active intraday trader. Long-term trading, as the name suggests, requires you to have free capital. And it should be free for many years to come. You must be prepared that a certain part of your capital will be locked and you cannot use it to benefit from short-term speculation. Deep knowledge. Long term trading requires an advanced understanding of the assets you are investing in. You cannot simply make decisions based on certain news, tips, or rumors. It is also not enough to rely only on charts or indicator signals to buy or sell. You need to be a specialist in fundamental analysis. - Age limits. You must have a life horizon in order to reap the benefits of the investment. If you are 60 years old, then it is too late to start a career as an investor for obvious reasons. Guys thank you for reading. Write in a comments what style crypto trading do you use mostly? And why. Hope you enjoyed the content I created, You can support with your likes and comments this idea so more people can watch! * Look at my ideas about interesting altcoins in the related section down below ↓ * For more ideas please hit "Like" and "Follow"!
Education
by Crypto4light
Daily analysis and trade setups on NASDAQ 20220721NASDAQ is likely to consolidate between 12300 and 12700 levels unless PMI data or Friday golden hour breaks one of the sides Blue level B & C as well as mega level Brown B are in play Break below 12400 can go as low as 11950 Break above 12650 can go as high as 13060 Buy Breaks: 12600, 12650, 12710, 12790 Reversals: 12460, 12375, 122215 Sell Breaks: 12500, 12465, 12350 Reversals: 12700, 12815, 12910, 13030 Chart with Green Goblins here Chart with confluence zones here
OANDA:NAS100USD
by TradingIndian
ADAUSDT: Rising Wedge, Bearish Bias Doesn't Stop Yet on CARDANO?Hello Fellow Cardano Coin Investor/Trader, Here's a Technical outlook of ADAUSDT! Support our content by smashing the like and follow button, you also can share your opinion in the comment section below. ADAUSDT is creating a Rising Wedge Pattern. Furthermore, The MACD indicator starts making a death cross, indicating potential bearish movement ahead. All explanations are presented on the chart. The roadmap will be invalid after reaching the target/resistance area. "Disclaimer: The outlook is only for educational purposes, not a recommendation to buy or sell the cryptocurrency"
Short
by financialfreedomgoals101
PANS: Rebound on Golden Ratio, Prepare for Bull Run/False Break?Hello Fellow Stock Investor/Trader, Here's a Technical outlook of PANS Stock! Chart Perspective PANS has rebounded around the golden ratio of the Fibonacci retracement area and broken out of the falling wedge pattern. The Stochastic created a golden cross, signifying a potential upside movement to the target area. All the explanations are presented on the chart The roadmap will be invalid after reaching the target/support area. "Disclaimer: The outlook is only for educational purposes, not a recommendation to put Long or Short Position in PANS Stock".
IDX:PANSLong
by financialfreedomgoals101
GoldViewFX - WEEKLY CHART UPDATEHey Everyone, Updated weekly chart that we have been following. The weekly chart channel support has been broken to the downside and now testing a major weekly chart support zone. 1711 - 1738 zone is a major support area and this is where price is consolidating at the moment. It will be important for us to see how the weekly candle closes for ema5 placement. Taking some long term buy positions within the swing range is looking viable for us. For now managing small positions due to volatility. The weekly chart is at critical support level and geared for a move up should this level hold. BULLISH TARGETS 1764, 1796 Retracement Range 1711 SWING RANGE 1687 We will keep this chart updated with any significant changes to the structure. Please don't forget to like, comment and follow to support us, we really appreciate it! GoldViewFX XAUUSD TOP AUTHOR
OANDA:XAUUSD
by Goldviewfx
14
Risk:Reward Ratio. What is it?Risk to reward ratio. What is it? What does it mean and how do we use it? Now, if you made it to the point where you're here on TradingView, there's a good chance that you have heard about Risk to Reward ratio. Today, I want to dive into what it really means and how to actually utilize it. I see so many beginners missing out on huge profits and opportunities because of their risk reward ratio and I want to share my knowledge of this tool and how to actually use it in the future. Firstly, let's dive into what is the risk/reward ratio? The RR ratio is a tool that can accurately predict by expected returns based off of previous results. This tool measures how much reward you are estimated to gain based off of the dollar amount you risk. For example, if you have a risk to reward ratio of 1:3, it means for every $1 you risk, you will gain a return of $3 in the event of a positive trade. Using the same example in the FX market, let's say you're risking 10 pips on EURUSD, your take profit is at 30 pips. This means you gain 30 pips in the event of a win, lose 10 pips in the event of a loss, giving you a 1:3 risk/reward ratio. This is a very powerful tool because compared with the win rate and in correlation, you can actually predict based off of your previous results, you're expected returns on investment. Being able to predict what you're expected returns are are great way of giving you milestone targets, but also when you're looking at getting funded with prop firms, you also know what you are actually able to achieve in what time frame. Now, it goes without saying, the higher your risk to reward ratio, the less you need to win in order to maintain profitability. The opposite, the lower your risk reward ratio, the higher win rate is required to maintain profitability. But this is where we get into where I find beginners struggle. A lot of people will base their strategies on their risk/reward ratios, which is understandable if you're building the strategy from scratch. If you're using a prebuilt strategy or something that doesn't really correlate with risk/reward ratio. Then it makes it obsolete and just confusing. Going back to my first point, risk to reward ratio is a tool that you can use to estimate future potential returns based off of previous results. Let's say you have 100 trades worth of data. You can accurately have a look at what is your risk to reward ratio is and compare that with your win rate. From there you can make a decision whether or not that is a profitable strategy. On top of that, you can then start to look to improve either your win rate and risk to reward ratio, knowing that that is an area that needs improvement. When it comes to improving your risk to reward ratio, one thing that always grinds my gears with traders, is when they enter a trade, they'll set their stop loss and take profits based on their risk to reward ratio not based on the actual analytics of the trade. While I understand this and with some strategies, this can work. For most, they end up setting those take profits in areas that is just realistically is going to be really hard for the price to get to. What professionals do when trying to improve the risks of reward ratio is only take those setups where a good take profit is viable around that level of risk to reward. For example, in this chart, we are looking at buying the USDCAD over the next couple of weeks. We like this setup. We've had our entry signal and we're going to place a stop loss below that recent low, which was created early last week. We are not happy with our risk to reward ratio. We think we're leaving too much profit on the table and want to increase our overall results. So I'm only taking trades that have close to a three to one risk to reward ratio. But as you can see by this chart that dotted lines are areas of resistance which we are going to have to break in order to achieve that level of profitability. There are 5 different zones we are going to have to get through in order for my take profit to be hit, it is fair to say the odds are not in my favor. Now a beginner Trader will still enter this trade with the same take profit and the same stop loss and just hold on. The reason they'll do that is because they want the 1:3 risk reward ratio. They don't care where the profit target is. What matters is it is 3 times worth what they're risking. On the other hand, A professional trader will actually either let this trade go and not enter it, or look for another entry point later on on smaller timeframes to where you can fit that risk to reward ratio and you're not going to hit the high levels of resistance. To sum up what my point is, risk to reward ratio is a very powerful tool to understand what you are capable of the trader and also where you can improve. It is not a valid take profit selection strategy. Yes, it can definitely help with guidelines on where to set your take profit, but it should not be the sole reason your take profit is set at a certain price just because it is X amount whatever you are risking. Have a look at what the chart is telling you and what your analysis is telling you. Then, only take the trades which coincide with the risk to reward ratio. You want to achieve. I hope you enjoyed this insight and I hope it was beneficial to you. I recommend highly diving into your previous trading data. Have a look at your win rate. Have a look at your risk reward ratio and understand what your profitability expectation really is and base your future decisions off of that data. Have a fantastic trading we can I look forward to seeing your comments. - Jordon
FOREXCOM:XAUUSDEducation
by the5erstrading
5
S&P500: Bearish Continuation Pattern, How Far It Will Go?Hello Fellow U.S. Investor/Trader, Here's a Technical outlook of S&P500! Chart Perspective S&P500 is forming ascending broadening wedge pattern after rejecting the resistance area. Furthermore, The MACD indicator created a death cross, which confirmed a potential downside momentum to the target area. There are also worsening macroeconomic conditions such as a high inflationary environment (8.6% Inflation Rate) and the declining Consumer Confidence Index. The Fed responded to the high inflationary environment by doing Quantitative Tightening and raising the interest rate, potentially increasing the probability of a further move downward on the S&P500. *All the explanations are presented on the chart* *The Outlook will be active after the price hits the confirmation line. The roadmap will be invalid after reaching the target/ resistance area. "Disclaimer: The outlook is only for educational purposes, not a recommendation to put Long or Short Position in the Index".
UShort
by financialfreedomgoals101
AVAXUSDT: Channeling Bearish, Further Bear Movement May Prevail?Hello Fellow Avalanche Coin Investor/Trader, Here's a Technical outlook of AVAXUSDT! Support our content by smashing the like and follow button, you also can share your opinion in the comment section below. AVAXUSDT is creating a Bearish Channeling. Furthermore, The MACD indicator has created a death cross, indicating potential bearish movement ahead. All explanations are presented on the chart. The roadmap will be invalid after reaching the target/resistance area . "Disclaimer: The outlook is only for educational purposes, not a recommendation to put a long or short position on the cryptocurrency"
Short
by financialfreedomgoals101
2
GoldViewFX - DAILY CHART UPDATEHey Everyone, Update on our daily chart setup that we have been following for a while. As you can see we had another challenge to 1804 structure support, which held out again perfectly maintaining the Bullish structure. The support provided the momentum needed to push back into the Goldturn trendline support, which then found support on the retest of the trendline, gearing up for another 1858 challenge. This is a significant challenge, as we are looking for ema5 to cross and lock above 1858 to confirm and open the upper targets. BULLISH TARGETS 1844, 1858, 1881, 1899 RETRACEMENT TARGETS 1832 1804 IS THE STRUCTURE SUPPORT . This level is maintaining the overall BULLISH structure As always we will keep this chart updated with any changes to our plans. Please don't forget to like, comment and follow to support us, we really appreciate it! GoldViewFX XAUUSD TOP AUTHOR
OANDA:XAUUSD
by Goldviewfx
10
AUDJPY: Retest Trendline, Bullish Continuation as Yen Weakening?Hello Fellow Global Forex Trader, Here's a Technical outlook of the Aussie Yen! Support our content by smashing the like and follow button, you also can share your opinion in the comment section below. AUDJPY is retested in the last support area and EMA 34. Waiting for the price to hit the confirmation price creates a valid for a potential move to the target area. The Outlook will be active after the price hits the confirmation line. *All the explanations are presented on the chart* The roadmap will be invalid after reaching the target/support area. "Disclaimer: The outlook is only for educational purposes, not a recommendation to put Long or Short Position on the AUDJPY"
Long
by financialfreedomgoals101
2
XTZUSDT: Bearish Channeling, Bearish Bias doesn't end yet?Hello Fellow Tezos Coin Investor/Trader, Here's a Technical outlook of XTZUSDT! Support our content by smashing the like and follow button, you also can share your opinion in the comment section below. XTZUSDT is creating a bearish channeling. Furthermore, The MACD indicator created a death cross, which confirmed a potential downside momentum to the target area. All explanations are presented on the chart. The roadmap will be invalid after reaching the target/resistance area. "Disclaimer: The outlook is only for educational purposes, not a recommendation to buy or sell the cryptocurrency"
Short
by financialfreedomgoals101
NASDAQ: Moving Below EMA 200, Bearish Trend Doesn't Over Yet?Hello Fellow U.S. Investor/Trader, Here's a Technical outlook of NASDAQ! Support our content by smashing the like and follow button, you also can share your opinion in the comment section below. NASDAQ is forming the head and shoulder pattern near the EMA200 line. Furthermore, The MACD indicator created a death cross, which confirmed a potential downside momentum to the target area. The Outlook will be active after the price hits the confirmation line. *All the explanations are presented on the chart* The roadmap will be invalid after reaching the target/resistance area. "Disclaimer: The outlook is only for educational purposes, not a recommendation to put Long or Short Position on the NASDAQ Index"
UShort
by financialfreedomgoals101
2