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GBPAUD 4H ASCENDING TRIANGLE PATTERN STRATEGYStep #1: The Ascending Triangle must Have a Flat Resistance and a Rising Support Trendline The two elements of a good ascending triangle pattern are: A flat resistance that it’s hit multiple times. The more a resistance line is tested, the more likely it will eventually fail to hold as resistance level. The second element is a rising support trendline that connects the successive higher lows inside the ascending triangle formation. Step #2: Apply the RSI 20-periods on your Chart Normally, the price action consolidates inside the ascending triangle formation.This means that there is an ongoing battle between the bulls and the bears. Assessing who is going to win this battle can be done by looking the RSI readings. Before the breakout to come we can look at the action inside the consolidation to decide if it’s worth taking the breakout or it’s better to just wait for another trade. What we want to see is momentum decreasing after each successive retest of the flat resistance level. Basically, we look to see a bearish divergence developing on the RSI indicator. Step #3: Check if prior to the Ascending Triangle we have a bullish trend As a continuation pattern, naturally we need a preceding trend. In the case of the ascending triangle, which is a bullish pattern, we need to have a prior uptrend. If we have a prior uptrend, it suggests that the breakout has a higher probability to happen on the upside. Step #4: Buy as soon as we break above the flat resistance level With continuation patterns, the best strategy is to buy straight away with the breakout. If we wait too much we end up leaving some of the available profits on the table. We already have so many confluence factors that confirm the breakout that it’s useless to wait for more confirmation. After all we want to anticipate the breakout and be ahead of the crowd. Step #5: Find your own take profit or For the take profit strategy, we’re going to use our favorite measuring technique. This is a dynamic strategy that it’s based on the actual price rather than random number. To find the profit target, simply the the high and the low of the ascending triangle formation and add that measurement to the breakout level which will give you the ideal target for this continuation pattern.
Long
by Tradingstrategyguides
HOW DO YOU KNOW THE TREND IS ENDINGIdentify the current market pattern, and set yourself up for success! There are only 2 categories of price action, trends and ranges. Identifying a trend pattern is that it sets you up with an expectation about what comes next. When the market is in an up-trending pattern, expect that a higher high is coming. The nature of a trend is to make progress in one direction, so you can always expect a higher high is coming in an up-trend. "What about when the trend ends? It won't make higher highs forever." How do you know the trend is ending? It has to do with the passage of time, like everything else in charting price action. When the market fails to make a higher high (or a lower low) for 20 bars or more, the trend may be losing steam. Either way, when the trend stops making progress, it stops behaving like a trend so you can start expecting the next pattern is on the way. There are many ways to trade a trend, but you'll always be more successful when you get in the habit of anticipating what comes next. If it doesn't happen, that's just as useful. When a trend stops acting like a trend, you know it's time to change your mindset for the range patterns.
Education
by Tradingstrategyguides
BEST ICHIMOKU STRATEGY FOR QUICK PROFITSStep #1 Wait for the Price to Break and close above the Ichimoku Cloud . Ichimoku cloud trading requires the price to trade above the Cloud. This is because it's a bullish signal and potentially the beginning of a new up-trend. The cloud is built to highlight support and resistance levels. It highlights several layers deep because support and resistance is not a single line drawn in the sand. It is several layers deep. So, when we break above or below the Ichimoku Cloud , it signals a deep shift in the market sentiment. A high probability trade setup requires more layers of confluence before pulling the trigger. This brings us to our next requirement for a high probability trade setup. Step #2 Wait for the Crossover: The Conversion Line needs to break above the Base Line. The price breakout above the Cloud needs is followed by the crossover of the Conversion Line above the Base Line. Once these two conditions are fulfilled, we can look to enter a trade. The Ichimoku Cloud indicator is a very complex technical indicator. The indicator is even used as a moving average crossover strategy. Now, we’re going to lay down a very simple entry technique for the Ichimoku Kinko Hyo trading system. Step #3 Buy after the crossover at the opening of the next candle. Ideally, any long trades using the Ichimoku strategy are taken when the price is trading above the Cloud. Our team at TGS website has adopted a more conservative approach. We added an extra factor of confluence before pulling the trigger on a trade. So, after the crossover we buy at the opening of the next candle. Step #4 Place protective stop loss below the breakout candle The ideal location to hide our protective stop loss is below the low of the breakout candle. This trading technique accomplishes two major things. Here is an example of master candle setup. First, it’s significantly lowering the risk of losing big money. Second, it helps us trade with the market order flow. Since this is a swing trading strategy, we’re looking to capture as much as possible from this presumably new trend. We’ll be looking to trail our stop loss level below the Cloud or exit the position once a new crossover happens in the opposite direction. The next logical thing we need to establish for the Ichimoku trading system is where to take profits. Step #5 Take Profit when the Conversion Line crosses below the Base Line We only need one simple condition to be satisfied for our take profit strategy. When the conversion line crosses below the base line we want to take profits and exit our trade. Alternatively, you can wait until the price breaks below the Cloud, but this means risking to lose some parts of your profits. In order to gain more sometimes you have to be willing to lose some. Note** the above was an example of a BUY trade using the advanced Ichimoku trading strategies. Use the same rules for a SELL trade – but in reverse.
Long
by Tradingstrategyguides
1
TURNING PRO CHALLENGE TRADING STRATEGYEURUSD - PRO CHALLENGE TRADING STRATEGY WEEKLY CHART Current Price at Weekly Sup/Res level of 1.1300 DAY CHART Previous Evening Star candle patterns created Bearish moves Watch for current Day candle to close Bearish to complete a 3rd Evening Star Pattern Previous day candle was a Bearish Pin Bar These candle patterns will confirm a Bearish continuation move short 1H CHART Add Standard Pivot Point indicator Price is returning down to Weekly S/R level and current Pivot level This created my 1st Sell Take Profit zone where I will close 1/2 of my trade Watching for Price to break below these two support levels 2nd Sell Stop @ 1.1280 Finale Take Profit close all trades @ 1.1235 Find SL
Short
by Tradingstrategyguides
EU - NU - AU 4H Range Bullish TradesDon't trade all three (EU, NU, AU) of these USD pairs Watch this pair (AU) to make the move back bullish to ma's If it does it confirms other two trades EXIT - If AU falls back below range bottom - EXIT. Market may not have timing right for bullish move yet If market isn't ready on first move then be ready to enter long again on second or third bullish move attempt NZDUSD 4H Long Trade Buy Stop @ .6753 1st Buy Take Profit @ .6789 2nd Buy Take Profit @ .6810 SL below swing low
Long
by Tradingstrategyguides
Best Ichimoku Strategy for Quick ProfitsStep #1 Wait for the Price to Break and close above the Ichimoku Cloud. Ichimoku cloud trading requires the price to trade above the Cloud. This is because it's a bullish signal and potentially the beginning of a new up-trend. The cloud is built to highlight support and resistance levels. It highlights several layers deep because support and resistance is not a single line drawn in the sand. It is several layers deep. So, when we break above or below the Ichimoku Cloud, it signals a deep shift in the market sentiment. A high probability trade setup requires more layers of confluence before pulling the trigger. This brings us to our next requirement for a high probability trade setup. Step #2 Wait for the Crossover: The Conversion Line needs to break above the Base Line. The price breakout above the Cloud needs is followed by the crossover of the Conversion Line above the Base Line. Once these two conditions are fulfilled, we can look to enter a trade. The Ichimoku Cloud indicator is a very complex technical indicator. The indicator is even used as a moving average crossover strategy. Now, we’re going to lay down a very simple entry technique for the Ichimoku Kinko Hyo trading system. Step #3 Buy after the crossover at the opening of the next candle. Ideally, any long trades using the Ichimoku strategy are taken when the price is trading above the Cloud. Our team at TGS website has adopted a more conservative approach. We added an extra factor of confluence before pulling the trigger on a trade. So, after the crossover we buy at the opening of the next candle. Step #4 Place protective stop loss below the breakout candle The ideal location to hide our protective stop loss is below the low of the breakout candle. This trading technique accomplishes two major things. Here is an example of master candle setup. First, it’s significantly lowering the risk of losing big money. Second, it helps us trade with the market order flow. Since this is a swing trading strategy, we’re looking to capture as much as possible from this presumably new trend. We’ll be looking to trail our stop loss level below the Cloud or exit the position once a new crossover happens in the opposite direction. The next logical thing we need to establish for the Ichimoku trading system is where to take profits. Step #5 Take Profit when the Conversion Line crosses below the Base Line We only need one simple condition to be satisfied for our take profit strategy. When the conversion line crosses below the base line we want to take profits and exit our trade. Alternatively, you can wait until the price breaks below the Cloud, but this means risking to lose some parts of your profits. In order to gain more sometimes you have to be willing to lose some. Note** the above was an example of a BUY trade using the advanced Ichimoku trading strategies. Use the same rules for a SELL trade – but in reverse.
BITFINEX:ETHUSDLong
by Tradingstrategyguides
3