How to Trade the Markets - Step 2 - Develop the Mega TrendHello,
In this video series i will be walking you through my new approach on how i am currently trading the markets.
Step 2 - Develop the Mega Trend
Once you have entered your position and set your stop loss, you will then want to align the Trend Meters with your current lifeline candle. Ultimately we want to see the next day candle break below the previous day of support and start to create space from our position. We align the 7,14 and 21 Trend Meters to confirm the development for a Mega Trend winning position. Let it run and work for you!
We will exit and rotate the position once we have a confirmation from the Trend Meters.
Follow up videos will come in the future to show you how this has performed for the year.
Simplicity is key. Tight stops are key. Mega Trend is WINNING.
Take care.
Tradingsystem
Bitcoin is now expected to reach levels 23.8K - K22.4 - K21.5The first target was reached by Bitcoin yesterday, by a slight difference, and the price bounced from it, and it is expected to return to touching this level, and it is considered a minor and weak support, and it can be broken easily
Today, it is expected to break 22.8K, and head towards the second support levels at 22.4K, and it is likely to be broken if the rise continues on Dominance Tether..
Day Trade BuyKing W. Harbmayg’s Journal Entry #2
Review: My criteria has panned out, along with liquidation, within the first quarter of the day. This is a counter trend trade which I plan to hold for too a relatively brief time.
Performance: (1 out of 5)
Confidence— 5
Discipline— 5
Communication— 5
"Trust And Patience."
-KWH
Sold the USDCADThis is a sell trade of which analysis I did before now however I did not publish it. For the sake of learning and journaling I am publishing it now. This trade like every other trade I take is a trend trade. The USDCAD is trending down and gave a new low, I simply find and mark out the high and label my preferred sell zone represented by the red box. A sell limit order is good for a trade like this. As we see the price pulled back to the sell zone and continued its trend down creating a new low. I took good profit with a 1:2 risk to reward ratio.
What to expect?
I keep it simple and repeat the same steps the gave me this trade.
keep following! I will be updating the chart analysis on USDCAD and publishing it.
GoldViewFX - FOMC MARKET UPDATEHey Everyone,
AND........BOOOOOM!!!!
FOMC plan executed and completing all targets on our 1H chart setup level to level. We will now track our 4H and Daily chart ideas for the remainder of the week (see related post below)
BULLISH TARGETS
1931 - DONE
1937 - DONE
1946 - DONE
EMA5 CROSS AND LOCK ABOVE 1946 WILL OPEN 1951, 1955 AND 1961
BEARISH TARGETS
1924 - DONE
1918 - DONE
EMA5 CROSS AND LOCK BELOW 1918 WILL OPEN 1909 AND 1901
SWING RANGE
1901 - DONE
LAST UPDATE
Hey Everyone,
As you can see our 1H chart is back in play as we find price playing between both structures with the retracement zone playing support again after riding back up from the swing range.
We have FOMC today so extra caution in managing risk and range.
FOMC PLAN
Newbies should not trade FOMC, as too risky if you have not learnt how to manage swings.
Overall we remain Bullish and therefore even if price drops due to news, it will find its way up again. Therefore, we need to keep this in mind and wait for better entries entry should the price drop. Our plan to buy dips remains in play.
EMA5 is bouncing between 1924 and 1931 Goldturn levels. We would look to see which is broken with EMA5 first to track movement to the next Goldturn. As we stand all our bearish and 1 bull target has been HIT with only 1937 and 1946 left in the range.
As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it!
GoldViewFX
XAUUSD TOP AUTHOR
How to never break your Trading Account?Follow We Trade Waves 4 Golden Trading Rules!
1) Do Not Over-Risk
Big Risk = big loss = potential big profit | Small Risk = small loss = potential big profit (Read this again)
2) Do Not Over-Trade
Successful trading is not about trading often, it's about being selective and trade correctly!
3) Do Not Trade Without Stop Loss
Check GBPAUD, CHFJPY, GBPJPY Daily chart and you will see market sometimes move thousand pips within minutes!
4) Never Ever Add To Losing Position
While you are thinking that you will break even faster which is true! you will be doubling, tripling your risk at the same time!
Print above rules and keep them in front of you while trading
DISCLAIMER: We Trade Waves is not a signal service. Instead, it involves sharing our perspective and detailed analysis based on our unique wave analysis concept. We cannot be held responsible for any financial gain or loss that may result from following our analysis.
Trade with care
WTW Team
#GBPUSD 18 Jan 2023As bullish as it can be. Definitely one of the stronger currencies with prices above my 2 zones. Definitely not a currency to look for shorts (EURUSD will be a better pair). Support at the zone is a move higher. While if we dip, 1.2187 should again offer a good opportunity to go long.
#EURUSD AnalysisMarket is ranging between my 2 zones. It just narrowly missed the bounce off the BZ below, which would give a good long. Now price is back to PZ with divergence. Question thus is if market will reverse from here. But IMO, it is taking time to cool off before further up. Will like to look for shorts nearer 1.0837/1.0848