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Trends

Target yearly PPYearly PP remains an unclosed level, major missed pivot. Price will surely return to it. This is some sort of bump and run reversal. Now we are in run phase. Breakdown confirms the move. DM projection sends price to yearly Cam S3. Look for short setups on minor timeframes. This is no financial advise. Top Absolute Correlation 1 GBPAUD - AUDJPY -80.8% 2 GBPAUD - AUDCHF -79.6% 3 GBPAUD - EURAUD 79.4% 4 GBPAUD - AUDSGD -76.4% 5 GBPAUD - JPN225 -75.9% 6 GBPAUD - AUDNZD -74.7% 7 GBPAUD - AUDUSD -74.5% 8 GBPAUD - EURNZD 74.1% 9 GBPAUD - NZDCHF -73.2% 10 GBPAUD - NZDJPY -73.0%
Short
by ICFX
DM analysisThere was a major breakout on daily and 4 hrs chart, the move is not completed. What we are seeing now is a pullback to weekly CPR - monthly S3 value top (that is where DM projection sends it), a short term bearish counter-trend move. From there I would look for a great long setup. Top Absolute Correlation 1 XAUUSD - XAUEUR 97.7% 2 XAUUSD - XAGEUR 93.2% 3 XAUUSD - XAGUSD 90.9% 4 XAUUSD - USDJPY -90.6% 5 XAUUSD - AUDNZD 87.3% 6 XAUUSD - XPTUSD 85.6% 7 XAUUSD - EURHUF -83.0% 8 XAUUSD - GBPSGD 82.9% 9 XAUUSD - GBPNOK 82.7% 10 XAUUSD - AUDSGD 81.8%
OANDA:XAUUSDLong
by ICFX
EURUSD TD outlook for 4 hrsThat is how we see it, pretty simple. One can use ATR stop for stops (pretty accurate tool), which is based on average true range (the input can be changed). The broken demand line is more important than descending one (trendline value is measure by the number of consequent highs or lows above the extremums). I saw some of you draw a descending triangle but by TD rules we can not make a triangle, because there is no relevant TD point below the top TD P5. We have 2 horizontal levels below on the way which price has to get through (with struggle of course) and to retest those after the breaks (!). DM projection sends price into the "free fall zone". We will see. Good luck! THIS IS NO FINANCIAL ADVISE. You are solely responsible for you trading decisions:) Top Positive Correlation 4 hrs 1 EURUSD - NZDUSD 83.2% 2 EURUSD - AUDUSD 80.5% 3 EURUSD - GBPUSD 79.7% 4 EURUSD - AUDJPY 78.2% 5 EURUSD - US2000 75.8% 6 EURUSD - GER30 74.9% 7 EURUSD - SPA35 73.7% 8 EURUSD - AUDCHF 71.3% 9 EURUSD - FRA40 70.7% 10 EURUSD - AUDSGD 69.3%
Short
by ICFX
2
Buying vs Selling Pt1- COLOR, Most have it completely backwardsI'm making a little educational series of tutorials to put some of my trading philosophies into writing for myself but also to help teach anyone interested or provide a fresh perspective to others. Let's start with COLOR . From indicator lines, fill regions, background colors, arrows, to barcolors (be it from an indicator or just the basic candle), most traders are looking at a green candle and a red candle in reverse. Novice traders see a big fat candle and think, "Wow, lots of BUYING" then see a huge red candle and think, "Lots of SELLING". I think we inherently associate green with money and like to see lots of green when we have long positions. And then we associate red with emotions of fear and panic, bad things. Let's have a look at a chart of SPY using the "Ehlers Instantaneous Trend" with ribbon and barcolor to help identify trends and paint them the color we are accustomed to seeing- Very quickly I'm sure a lot of people think the coloring makes sense and might be looking up the Ehler indicator right now (it is a really cool one so go ahead). What we're seeing is this- Most of the time the green candles have been when SPY has been rising Most of the time the red candles have been when SPY has been falling Seems natural to buy when you see these green candles going up and sell/avoid buying when you see red candles going down. The problem is that that's what dumb money does! They buy when smart money is SELLING. Those green candles are actually the result of a smart buyer who timed things correctly and bought at the lows and is now 1) holding onto their shares, 2) waiting for sell signals. And when those red candles start showing up, dumb money gets all panicky and starts selling their shares. They might wait for closing cost to fall beneath a moving average or some other indicator, then they start selling and voila- capitulation. The price those sellers get is probably not great and when it's all said and done was not very much above what their entry price was. But as people are selling, smart money is BUYING. They are fishing for a bottom to start accumulating shares. They look for really 'red' days with lots of volume, a perfect cocktail of emotion that gets weak hands to tremble and chase the price down before capitulating and selling for whatever price they can get. And usually when this is occurring, the bottom forms. Let's reverse the colors of the bars and start seeing things through the lens of smart money- Now if you are still associating green with buying and red with selling, the world should make much more sense. When the candles turn green here you're a buyer and when they turn red you're a seller. That doesn't mean buy the first candle and every candle, all the time, every time. It means that is when you are waiting patiently for the most opportune moment to buy. And when these candles are red you aren't freaking out and selling, you tell yourself "I am looking for moments when I can take some profits off the board when we get really crazy moves up, and maybe replace some of those shares with a few new shares I purchase at lows or on some bad days". The point is that this is a selling phase. I will go into depth as to why selling phases go up*, because I know that's a concept that people struggle with psychologically. (* there's two kinds of selling, as well as buying, which we'll get into). Here are some close-ups on candles and their default colors- Same chart, colors flipped -
AMEX:SPYEducation
by chrism665
11
EURJPY Big BAG$$$!! ENGLISH: As we may observe in the chart, it clearly indicates EURJPY is about to make a big move down the aisle. The canal in color yellow is being respected, also the tendency line in cyan color is being tested. According to Ichimoku Kinko Hyo it shows we must keep on selling as the red cloud is getting thicker. So does the white line of the Ichimoku indicador, as it has crossed the clouds going down it confirms a sale. SPANISH: Como podemos observar en la grafica, indica que la paridad de EURJPY esta a punto de hacer una gran movida hacia abajo. El canal trazado en amarillo esta siendo respetado, de igual manera la linea de tendencia esta siendo probada nuevamente yendose hacia abajo. Al utilizar en indicador IchimokuKinko Hyo nos indica la nube roja que debemos continuar vendiendo. Al igual la linea blanca del indicador al haber cruzado la las nubes cofirman la venta segura.
Short
by juanra97
2
Mistakes not to MakeI'm gonna try and keep this short. Today is the start of a HUGE trading weekend, and I still have to get ready and head up. Anyways. Look at my charts again. This is the 1H tf. I kept all the successful and failed trade setups I entered with annotations for justification, etc. There are a couple things to do that I didn't. 1) Recognize the larger trend. That I did. it's heading down, with rallying points along the way. 2) Always wait for the break and retest. Every move the market makes is a break and retest of some sort. What's the direction? What's the larger trend? Does the market look like it is? Questions to ask yourself when looking at a chart 3) Remember those long candles I mentioned in my last post? Those would be the perfect time to enter the sell. You'll notice too, there's a red harmonic on the chart. That's on the 15min tf. Pull it down, you'll see it. Once that was completed, and the PSAR flipped above the candles, yeah, that was the point when the two long sell candles developed. Those show the breakout. Along bullish or bearish candle is the sign of a breakout, so those are the best times to come in. Me, now, even after seeing that, I entered. That was my big mistake. Before when I entered on a trade it was before the pullback was completed. Here it just looked like it was too late. 4) It also pays to know your trading style, and If you use indicators to know the settings that would work for you with that style. 5) Also, also, it pays to recognize when your chart is getting too complicated for you to read. I know some traders whose charts are *packed*. Others keep things minimal. I think at this point, mine is a bit too much, so i may have to start over my analyses fresh.
Education
by kayleighramesar
4