EURUSD : Signal of the day with LuBotHello Tradingview people, from today I would like to start a new column about "the signal of the day" thanks to the use of the indicators that I have built based on my experience.
I have tried to make everything as simple as possible to allow even those starting from scratch to be able to replicate my operations, albeit mainly discretionary.
Since I started trading I have built and perfected my strategy which today is shown very simply in a single indicator that I have called LuBot. This is the basic indicator on which much of my experience is based and on which I base my analyses.
To support I use other indicators created by me that help me to realize when a Trigger/Signal can be more or less reliable.
In this case I propose this Trigger on EurUsd which satisfies most of the main conditions of my strategy.
On the graph I have summarized the satisfied conditions described below:
1) The Long Signal/Trigger given by a series of price action studies and candlestick analysis that I have had over time;
2) According to my way of seeing the structure of the market, the indicator highlights in yellow the candles whose structure is Bullish and in purple candles whose structure is Bearish. In addition to candle colors (which are deselectable for those who want to keep the original color)
bullish structure start and bearish structure start labels are shown (signals
SBS). Finally, always regarding the change of structure, I have inserted levels on the graph that one once violated they will start the structure change, so they are levels that could be
used as stop loss placement.
3) The Predictum indicator shows each month what the direction of the price will be. It's a indicator that I have been using for at least 1 year and I consider very reliable and easy to use.
In this case it indicates a clear Long direction without further points of attention.
4) The excess indicator is located in the "starting area", which coupled with the Trigger could
indicate a good time before the volatility explosion.
5) The LuTrender indicator shows a positive trend change on the current timeframe.
Together with the other indications it is certainly a plus point to follow the LuBot Trigger.
6) Since 30 May the price has never dropped below the ema200 on which it has created a sort of
floor/support which brought the prices to a price action of maximums and minimums increasing as shown by the labels HL and HH.
This reasoning, when you have these indicators, is very spontaneous, fast and intuitive to do. Even if this trade does not go as hoped, by following the strategy precisely and always following a certain logic, errors will be greatly reduced.
For this trade I insert a Stop Loss a few pips below the last swing low in the 1.0625 area and the Take Profit 1.1020
I've already been involved in this operation since yesterday and we'll see how it goes. In case the price action shows a reversal before the stop loss is reached, I will close the operation minimizing the losses. We potentially have a risk-reward trade of 1:2
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These analyzes are a sharing of my way of operating and of seeing and analyzing the market. I am not an investment advice as every trade has risk and loss is always around the corner.
Tradingsimple
NASDAQ : New uptrend in sightObserving the price dynamics of the last daily candlesticks, we see that from the high of February 2nd, the market has started a retracement movement, creating bearish swings that have brought the price back within the dynamic channel, reaching LuBot's TrendCloud.
We now see a bullish signal with large volatility closing above all major moving averages after the last swing low hit the ema21 Weekly and creating a new positive swing from which the positive swing count could restart.
Considering that the candle closed on the resistance level, I could expect a short retracement that could bring the price around 12150/12050, a movement that I will use to enter my Long entry with stop loss below the last swing low and take profit in the maximum area at 12700.
Observing the Weekly chart below, we see that a beautiful price dynamic has formed which shows how the breaking of the high of the following weekly candle would trigger a trigger that could bring the prices to the 13500 area where we find the next more resistance area important.
Let's keep an eye on it in the next few days because there could be several signals of following the trend.
For this analysis I mainly used the LuBot indicator with signal settings set to "MultiSignals", Signal style = 1, no limit on signals.
If you want to use it too, you can ask me for a free 7-day trial without obligation.
Best wishes and happy trading to all
GOLD : Long trade with LuBotHi Traders,
today I am sharing a trade setup that I entered into my portfolio using the LuBot indicator. Below I explain the reasons.
1. The indicator shows one last Long signal so I decide to follow bullish trades only.
2. The main trend of the last few months is up so I prefer to follow the operations in Trend
3. In the last few days we have seen a short-term negative trend that brings the price action to the ema100 which acts as support, generating a bullish reversal candle
4. From February 7 to today LuBot shows continuous signs of reversal. We are therefore in an area of strong oversold.
Although the trade could have a strong probability of success, I prefer to remain cautious and place a stop loss immediately below the low of the daily candle with a lower risk than that usually used.
Although we are in an uptrend, the swing highs and lows are decreasing and we could still see a negative trend development. We must always be ready for any situation.
In this regard, I have entered a very tight Take Profit, on the closest resistance area that matches the ema21.
I then insert Buy stop entry on the break of the high of the Daily candle.
The signal setup that I used for this analysis is:
Swing Signals, signal style = 1, limit signals type 3.
In this way I have a broader view of the signals that appear only when there is a change of direction to follow and never entering directly on the signal.
DOW JONES: Long setup with LuBot indicatorAs can be seen on the graph, a good entry setup has been formed on the Dow Jones index through the use of the LuBot indicator.
We have several points in favor of a Long trade including:
1. The last signal shown is Long, in this case we will only follow the entry setups for purchases;
2. TrendCloud is positive and supportive
3. Price returns to TrendCloud and closes above ema21
4. A new Swing HL (HigherLow) is formed so we have a higher low than the previous one
5. ema100 higher than ema200, this indicates a bullish configuration
6. The color of the TrendCandles candles are green thus favoring the Long setup
By Cons we have only the trend channel that intersects with a resistance level . This could slow down or limit your ascent. So I recommend caution.
The Trigger would occur at the break of the previous high where a Buy stop order can be placed.
I enter the Stop Loss below the last 2 swing lows and the Take Profit on the next resistance level .
The risk-return of this short-term operation is 1:1.3
The position will be managed according to the next movements. If the market shows no strength to reach the take profit you could close the trade manually.
AMD following Falling Wedge PatternAMD on the daily chart and weekly chart showing a falling wedge pattern. It is also resisting the trendline. It needs to break out of the pattern with high volume is currently missing.
On the fib time cycle, it is in the third phase cycle and will take another month to break the pattern. On unconventional rsi it is resisting and going down it is suitable for shorting now up to 70 odd levels.
Then wait for a swing low around $70 - $75 for entry for a minimum risk to reward ratio. after breaking the pattern it may go up to the $150 level.
Watch out closely.
Cheers and Happy Trading..!!
#Keepitsimple #Tradeeasy