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‼️ Economic calendar week 02.05-06.05 As usual, at the beginning of the month we have a busy week from a fundamental point of view, with presentations of reference rates, NFP, etc. As well, on Monday we have bank holiday on GBP and Tuesday, Wednesday and Thursday on JPY, so we can see less volatility on pairs with these currencies. Seems we could see an increase rates on AUD, USD and GBP, but I think we saw bullish price action on these currencies during last weeks and I expect now a retracement. My recommendation is to avoid trading during these news events. Take care!
Education
by Snick3rSD
Why We Must Use Stop Loss ?! And What The Stop Loss Mean What Is a Stop-Loss Order? A stop-loss order is an order placed with a broker to buy or sell a specific stock once the stock reaches a certain price. A stop-loss is designed to limit an investor's loss on a security position. For example, setting a stop-loss order for 10% below the price at which you bought the stock will limit your loss to 10%. Suppose you just purchased Microsoft (MSFT) at $20 per share. Right after buying the stock, you enter a stop-loss order for $18. If the stock falls below $18, your shares will then be sold at the prevailing market price. Stop-limit orders are similar to stop-loss orders. However, as their name states, there is a limit on the price at which they will execute. There are then two prices specified in a stop-limit order: the stop price, which will convert the order to a sell order, and the limit price. Instead of the order becoming a market order to sell, the sell order becomes a limit order that will only execute at the limit price (or better). Stop-Loss Orders Are Also a Way to Lock In Profits Stop-loss orders are traditionally thought of as a way to prevent losses. However, another use of this tool is to lock in profits. In this case, sometimes stop-loss orders are referred to as a "trailing stop." Here, the stop-loss order is set at a percentage level below the current market price (not the price at which you bought it). The price of the stop-loss adjusts as the stock price fluctuates. It's important to keep in mind that if a stock goes up, you have an unrealized gain; you don't have the cash in hand until you sell. Using a trailing stop allows you to let profits run, while, at the same time, guaranteeing at least some realized capital gain. Continuing with our Microsoft example from above, suppose you set a trailing stop order for 10% below the current price, and the stock skyrockets to $30 within a month. Your trailing-stop order would then lock in at $27 per share ($30 - (10% x $30) = $27). Because this is the worst price you would receive, even if the stock takes an unexpected dip, you won't be in the red. Of course, keep in mind the stop-loss order is still a market order—it simply stays dormant and is activated only when the trigger price is reached. So, the price your sale actually trades at may be slightly different than the specified trigger price.
OANDA:XAUUSDEducation
by Pharaon_Academy
📚Learn More💰Earn More - Head and Shoulders in DOTUSD📚 LEARN MORE 💰 EARN MORE With ForecastCity Head and Shoulders Definition: A head and shoulders pattern is also a trend reversal formation. It is formed by a peak (left shoulder), followed by a higher peak (head), and then another lower peak (right shoulder). A “Neckline” is drawn by connecting the lowest points of the two troughs. Neckline support does not need to be strictly horizontal. This illustrates that the upward trend is coming to an end. When a Head and Shoulders formation is seen in an uptrend, it signifies a major reversal. The pattern is confirmed once the price breaches the neckline support In this example, we can easily see the head and shoulders pattern. How to Trade the Head and Shoulders Pattern: ENTRY: we put an entry order below the neckline. TARGET: We can also calculate a target by measuring the highest point of the head to the neckline. This distance is approximately how far the price will move after it breaks the neckline. ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your support is very much 🙏 appreciated!❤️ 💎 Want us to help you become a better Forex / Crypto trader? Now, It's your turn! Be sure to leave a comment; let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Education
by ForecastCity_World
9
📚Learn More💰Earn More - Head and Shoulders in DOTUSD📚 LEARN MORE 💰 EARN MORE With ForecastCity Head and Shoulders Definition: A head and shoulders pattern is also a trend reversal formation. It is formed by a peak (left shoulder), followed by a higher peak (head), and then another lower peak (right shoulder). A “Neckline” is drawn by connecting the lowest points of the two troughs. Neckline support does not need to be strictly horizontal. This illustrates that the upward trend is coming to an end. When a Head and Shoulders formation is seen in an uptrend, it signifies a major reversal. The pattern is confirmed once the price breaches the neckline support In this example, we can easily see the head and shoulders pattern. How to Trade the Head and Shoulders Pattern: ENTRY: we put an entry order below the neckline. TARGET: We can also calculate a target by measuring the highest point of the head to the neckline. This distance is approximately how far the price will move after it breaks the neckline. ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your support is very much 🙏 appreciated!❤️ 💎 Want us to help you become a better Forex / Crypto trader? Now, It's your turn! Be sure to leave a comment; let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Education
by ForecastCity
4
DXY - Elliott Wave Breakdown ✅Following on from our last post on DXY, we have moved up a considerable amount. In our last post we identified the higher timeframe impulsive move and waited for a catalyst, NFP, to move the market in our direction. See our previous post below: In Elliott Wave Theory, the impulsive wave can be broken down into the following 5 waves: Wave 1 - is made up of 5 subwaves (impulse) Wave 2 - Is a corrective wave made up of 3 waves (ABC correction) Wave 3 - is another impulse wave made up of 5 subwaves (impulse) Wave 4 - is a corrective wave made up of 3 waves (ABC correction) Wave 5 - Can be either an impulse or a correction - But its made up of 5 waves. In this scenario, the 5th wave is appearing to be an impulsive move. We have a channel which we will be using as a guide to help us identify when the 5th wave will finish. The way to use DXY is by doing the following: Bullish DXY = USD Strength. Bearish DXY = USD weakness 1. Analyse DXY for reversal zones and identify what the next move is 2. In our last post, we identified a reversal zone and we were waiting for NFP to be the catalyst to get the market moving (FEB 4th) 3. When DXY approaches the reversal zone, we go on to USD pairs and analyse them 4. Find a pair where you think USD will bounce/reject (depending on whether you're trading USD/XXX or XXX/USD) e.g. in the VIP, we correlated DXY with EURUSD. We identified that we were bullish DXY = Bearish EURUSD. We had a trade setup ready and we were waiting for confirmation. See below for the the VIP setup we had. Went into 10pip drawdown and hit TP of over 500pips = 1:50 RR. Hope this post helped a little! Goodluck and as always, trade safe!
TVC:DXYEducation
by WicktatorFX
5
Timing the Market Using Tether DominanceI always emphasize that time in the market beats timing the market, but I want to share an interesting approach that you can consider taking when timing the cryptocurrency market, especially when it comes to Bitcoin's overall direction. This is not financial advice. This is for educational purposes only. Tether Dominance - Just as Bitcoin dominance refers to Bitcoin's market cap relative to that of the entire market cap, Tether dominance is no different. - It refers to how much capital is parked in stablecoins, specifically Tether, at any point in time. - Since Tether (USDT) is a stablecoin that tracksthe USD, an increase in Tether dominance suggests a pullback or correction in cryptocurrencies. - A simple way to understand it is to think of USD flowing in and out of the market. - On the other hand, if Tether dominance drops, it means that more capital is being deployed to purchase cryptocurrencies, which is bullish overall for the market. - If you look at the graph above, you'll clearly see the inverse correlation between Bitcoin (orange) and Tether dominance (black). - Key support and resistance zones for Tether dominance are marked as well. - As we're currently trading slightly above local support, marked in green, if we see Tether Dominance fall below those levels, we could expect Bitcoin to continue rallying upwards. Bitcoin Daily Chart Analysis - We've tested Bitcoin's yearly open price at $47.2k, and failed to break above the 200 simple moving average (purple). - Bitcoin has retraced to $45-46k levels, which is a completely anticipated move considering that pullbacks can take place upon breakouts. - As the overall structure remains bullish, and we see the moving averages cross again, aligning in order for a bull rally, I expect us to retest $50k ranges again. - Whether we get rejected at those levels, or break through it is unclear, but we'll take it by levels as we always do. Conclusion With Tether dominance currently barely holding local support, I think there's a high probability that we see those support levels break down, and see Bitcoin rally upwards once again. This is definitely an indicator that you want to continuously refer to as you trade. If you like this educational post, please make sure to like, and follow for more quality content! If you have any questions or comments, feel free to comment below! :)
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CRYPTOCAP:USDT.DEducation
by Michael_Wang_Official
38
GOLD'S NEXT MOVE?Little educational post for you guys! If my analysis is correct & the current uptrend is Wave 5, an effective way to estimate how far this last bullish cycle will go is to go back & look at Wave 1, when Gold first started its uptrend in 2006. Wave 1 & Wave 5 tend to be very similar in how many PIPS they move, with a few hundreds PIPS difference which is very accurate for higher TF analysis. I have done this on my chart & it shows me where Wave 5 will possibly end before correcting itself over the next few years! Do this for yourself & you'll find the results you're looking for. I have covered out the price it could go to as it'll only be exclusive on the Market Breakdown Report for Investors. Markets are looking juicy for the foreseeable future🦾
OANDA:XAUUSDEducation
by BA_Investments
Stochastic Retracement Lines Welcome Back Please support this idea with LIKE if you find it useful. ********************************************************** Hello.... after I tested this new indicator a lot .. and i found it very useful to find the best key lines on the chart I decided to share it here.... the indicator is depending on stochastic momentum to collect the strongest lines on the chart and draw the lines depending on it .... and I found this stochastic retracement on this level: 0.9 0.5 0.2 0 -0.2 -0.5 -0.9 and this levels can lead us to get that confirmation to open our new positions.... =========================================================================== and it works with all time frame ....
Education
by MOHAMAD-KL
6
Most of the time, you will observe a correction.Today we will go through a simple trading lesson, but an effective one. The example I will be using today in terms of timeframes is mainly focused on Swing Traders; however, these principles remain valid for any timeframe because of the fractal characteristic of the market. Also, this will be a bullish example, but the same principles apply to bearish examples. Here, you will have a 4 step process to understand how to improve your executions on any asset. 1)Major Daily Trendline: This is the main structure I have as context. The structure or trend must be evident, such as 300 days bearish trend, where we can draw a descending trendline. It's crucial when looking at these structures to see if they are close to a "major" support zone or if they have already made contact with them. That would be optimal! (Here I would use the weekly timeframe) 2)Breakout: Assuming that the previous conditions on item 1 were fulfilled, now we are in a situation where we can expect a change in direction, and we are interested in developing a setup on the new "expected impulse." Most people fail in developing a good setup because they trade the first breakout of the structure, thinking that the price will skyrocket. As a general rule, consider this: "Never trust the first breakout" This takes us to the next item. 3)Correction: After the breakout of a major structure like the daily trend of the last 300 days or more, we want to see a correction! Here corrections will tend to show some proportion to the previous structure the price is coming from. I draw an ABC pattern on this template, but the main idea is that you want to observe a clear retracement from the breakout where the price tests the broken trendline again or at least makes a clear consolidation of a few days. 4) Setup: Now that we observed all the previous sequences, we can easily develop setups: Pending Stop order for our Entry-level above "B" on the flag pattern. Then, stop loss below "C" or, in other words, below the correction. Finally, take profit on the next MAJOR resistance level. Why do this? Because you are adding filters before trading, and that way you need the price to fulfilled certain conditions which will have three major improvements: Increase the odds of engaging on a high-quality setup and the 2nd one avoid low-quality scenarios or fakeouts. Also, you will avoid overtrading because you need CONTEXT. Thanks for reading, feel free to ask all your questions or more information related to this in the comments ;)
Education
by ThinkingAntsOk
3
DXY - How To Use DXY To Enter Trades 🎯For almost a year DXY has been in an uptrend but we may soon be at the end. Last Friday, DXY closed with a bearish candle at the double top region, indicating that there are al lot of sellers at that level. If we continue to show bearish pressure, we can soon end that uptrend and take advantage of USD weakness across the board. Here's a brief breakdown on how to use DXY: DXY up = USD Strength. DXY down = USD weakness 1. Analyse DXY for reversal zones and identify what the next move is 2. On this chart we can see that DXY is indicating bearish price action 3. Now that DXY is at an important level, go on to your USD pairs and analyse them 4. Find out if there's any XXXUSD LONG ideas or if there's any USDXXX pairs that are at the best place to SELL 5. Correlate the DXY movement with the USD charts e.g. DXY showing bearish price action which makes EURUSD buy a great idea as EURUSD is at a key level. Hope that helps! Goodluck and as always, Trade Safe!
TVC:DXYEducation
by WicktatorFX
9
How do you trade with Correlation?How do you trade with Correlation? You can trade on forex pair correlations by identifying which currency pairs have a positive or negative correlation to each other. I have identified above the 3 main correlation pairs which correlate best with each other. In the conventional sense, you would open two of the same positions if the correlation was positive, or two opposing positions if the correlation was negative, for example when OIL increases in value, the Canadian Dollar tends to increase in value. This is because Canada is among the top 5 oil producing and exporting countries making them directly correlate. CHF & GOLD Correlation Both the Swiss Franc (CHF) and physical gold have acted as reserve 'currencies' thereby establishing a relationship between the gold price and Swiss Franc . Despite some differences, the Swiss Franc and the gold price are correlated and the similarities shared by the two can be clearly identified. This the Swiss National Bank has a huge amount of Gold Reserves and is one of the largest possessors of gold reserves worldwide. This also gives the Swiss Franc direct correlation with gold as the government passed a legislation that the Swiss Franc must be backed by gold . Why is it important Correlation is important when trading your strategy as you can manipulate the market and gain more confluences to confirm your entries. For example if you are focusing on the Canadian Dollar and can see a bullish trend and an entry point, OIL must also be bullish due to the correlation and you can confirm your analogy as you have analysed 2 correlating pairs which are both bullish .
OANDA:XAUUSDEducation
by Pips-Collector
XAG/USD EVERY SUNDAY LIVE ZOOM ANALYSISThe gold & silver market is pushing significantly higher, following a significant miss in the U.S. labor market with fewer jobs created in August. Friday, the U.S. Labor Department said that 235,000 jobs were created last month. The data was weaker than expected as consensus forecasts called for jobs gains of 720,000. While the headline data saw a significant miss, the Labor Department included substantial revisions to its June and July numbers. June's employment numbers were revised up by 24,000 to 962,000 from the previous estimate of 938,000. Meanwhile, July's data was revised up to 1.053 million jobs compared to the initial estimate of 943,000. However, some economists note that the strong revisions are not enough to take the full sting out of the disappointing headline numbers. Meanwhile, the U.S. unemployment rate dropped to 5.2%, down from July's reading of 5.4%. The unemployment rate fell in line with expectations. The gold market has broken through critical near-term support levels in initial reaction to the weaker-than-expected employment data. December gold futures last traded at $1,827.10, up nearly 1% on the day. Not only was job growth weaker last month, but positive for gold, wage inflation continues to creep higher. The report said that wages rose 0.6% in August, up from July's 0.4% increase. Economists were expecting to see a 0.3% increase. A lot of focus had been placed on the August employment numbers. Many Federal Reserve officials noted that a strong number could prompt them to launch their plans to reduce their monthly bond purchases. However, some economists say the disappointing data could force the central bank to delay those plans. "This disappointing report will make it a closer call than we expected for a September tapering announcement from the Fed," said Katherine Judge, senior economist at CIBC. Paul Ashworth, chief U.S. economist at Capital Economics, said that the latest employment numbers puts the Federal Reserve in a very difficult position. He noted that the economic data shows the COVID-19 pandemic and the spreading Delta Variant is impacting the current recovery. “Even allowing for the fact that first estimates for August often disappoint on the downside, the extent of the slowdown in jobs growth all-but rules out any tapering announcement at this month's FOMC meeting and, if this weakness persists, then it could be pushed into early next year. XAG/USD EVERY SUNDAY LIVE ZOOM ANALYSIS UK 18:00
OANDA:XAGUSDEducation
by globalsymmetrygroup
1
The Fundamentals of Forex - Lesson 1 PMIIn the next following days I am going to work on a full education course designed for understanding the fundamentals behind Forex market and at the same time showing how it can be used for days trading using fundamental news strategy. Our first lesson : U.S. ISM Manufacturing Purchasing Managers Index (PMI) Understanding the ISM Manufacturing PMI and Non-Manufacturing Reports The Service and Manufacturing sectors comprise the majority percentage of US GDP. As such it is important to gauge the overall health of these components. One of the most useful sentiment studies that can help traders and investors to forecast future economic trends is the ISM PMI Manufacturing report, and the ISM Non-Manufacturing report. What is the ISM Non-Manufacturing Report ? The Non Manufacturing Purchasing Managers Index (PMI) is released by the Institute of Supply Management (ISM). The Institute was founded in 1915, and was the first supply management institute in the world. The report on business is a composite index that helps measure the economic health of the US economy. Though the Manufacturing PMI has been around for much longer, there was a need to measure the economic situation within the service sector as well. This is especially true since the service sector is attributed a majority percentage of US GDP in real terms As such the ISM Non-Manufacturing report was born. This report has been published by ISM starting in 1998. The data is compiled from surveys of approximately 400 purchasing managers in over 65 various non-manufacturing industries including mining, agriculture transportation, retail, and more. The report is released on a monthly basis on the third day of each month and reflects the data for the previous month. The Non Manufacturing Composite Index (NMI) is based on four equally weighted indicators: New Orders, Business Activity, Employment, and Supplier Delivery. All of these indicators are seasonally adjusted expect for the Supplier deliveries. Generally speaking, when the index is over 50, it demonstrates that the economy is growing, while an index of less than 50 signals a contracting economy. In addition, a better than expected reading is usually bullish for the US Dollar, and conversely a lower than anticipated reading is usually bearish for the US Dollar. Positive readings over time will also tend to help boost stock prices. Typically, the ISM Non-Manufacturing Index has a somewhat diminished market impact compared to the Manufacturing PMI release. One reason for this is that the non-manufacturing sector is generally much less volatile and more foreseeable than its US Manufacturing Index counterpart. What is the ISM PMI Manufacturing Index ? PMI Manufacturing Index on trading view MAN_PMI chart It measures the manufacturing output for a particular time horizon. The ISM PMI Manufacturing report is released every month, on the first business day of the month. The data reflects the prior month’s activity. The manufacturing sector is an integral component of the overall economic health of a country. Although the manufacturing sector of the US economy is less than 15% of total GDP, it is nevertheless an important economic report and often highly watched by many Forex traders. The report is produced by ISM and is a diffusion index, which basically means that it has various components that comprise the index. The resulting number is then updated to take into account seasonality factors. The PMI Index composite takes into account the following indicators: New Orders, Employment, Supplier Deliveries, and Inventories. The ISM Manufacturing report is gathered by surveying over 400 Purchasing and Supply managers about their future expectations on production, inventories, employment, and new customer orders. The benchmark number is 50 for the index. So, if the number is higher than 50 then this hints of economic growth, while a reading of 50 or lower is considered to be contractionary. The ISM PMI index is considered to be a leading indicator. It helps foretell future spending and expenditures that contribute to economic expansion. The indicator tends to reflect changes before the economy does. If there is an uptick in the PMI index, meaning there is more manufacturing output, then this is likely to lead to stronger economic considerations. And contrary to this, if there is a downtick in the PMI manufacturing index, meaning there is less manufacturing output, then this is likely to lead to weaker economic conditions. Trading the ISM Numbers As we have learned in the earlier section, an ISM composite index number above 50 indicates that the US economy is expanding. In addition, when the number has been above the 50 baseline for several months, it tells us that the economy is stable and strong. Conversely, when the number is below 50 it indicates that the US economy is contracting. And a number that has been below the 50 baseline for several months, can warn us of a potential recession. Aside from the longer term forecast that we can make using the ISM figures, short term traders, can take advantage of the ISM economic release for short term price movements. One of the more popular types of news trading methodologies using the ISM report is to trade a divergence between expected results and the actual figure that came in. For example, if economists are expecting a reading over 55 and the actual index composite comes in at 52 or 53, then the market may react to this discrepancy after the release. In this case, fundamental news traders would likely expect the lower than expected figure to be bearish for the Dollar, and a day trading opportunity could exist to ride the short term momentum on a weakening Dollar. You could sell the USD/JPY pair for example, or buy the EUR/USD pair for a short term day trade or scalp. However, this trading idea is a generalization and traders need to keep in mind other news events and/or technical levels that could override the ISM reading. Real examples For this analyse, lets take a look at EUR/USD pair since December 2020 using 15/30min time frame chart. Rules : Actual data is lower than forecast -> EURUSD LONG opportunity. -> USDJPY SHORT opportunity Actual data is higher than forecast -> EURUSD SHORT opportunity. -> USDJPY LONG opportunity Risk reward ratio : 1:1.5 OR 1:2 Also from my volatility calcuations over the last years, I found out that the best it should be to look for 10-20 pips movements in case of EUR/USD after the release of the PMI. Release Date Time Actual Forecast Previous Dec 01, 2020 (Nov) 11:00 57.5 58.0 59.3 -> EUR/ USD LONG OPPORTUNITY In this case we would have won the trade Release Date Time Actual Forecast Previous Jan 05, 2021 (Dec) 11:00 60.7 56.6 57.5 -> EUR/ USD SHORT OPPORTUNITY In this case we would have won the trade Release Date Time Actual Forecast Previous Feb 01, 2021 (Jan) 11:00 58.7 60.0 60.5 -> EUR/ USD LONG OPPORTUNITY In this case we would have won the trade Release Date Time Actual Forecast Previous Mar 01, 2021 (Feb) 11:00 60.8 58.8 58.7 -> EUR/ USD SHORT OPPORTUNITY In this case we would have lost the trade Release Date Time Actual Forecast Previous Apr 01, 2021 (Mar) 10:00 64.7 61.3 60.8 -> EUR/ USD SHORT OPPORTUNITY In this case we would have lost the trade Release Date Time Actual Forecast Previous May 03, 2021 (Apr) 10:00 60.7 65.0 64.7 -> EUR/ USD LONG OPPORTUNITY In this case we would have won the trade Release Date Time Actual Forecast Previous Jun 01, 2021 (May) 10:00 61.2 60.9 60.7 -> EUR/ USD SHORT OPPORTUNITY In this case we would have lost the trade Release Date Time Actual Forecast Previous Jul 01, 2021 (Jun) 10:00 60.6 61.0 61.2 -> EUR/ USD SHORT OPPORTUNITY In this case we would have won the trade RESULTS 5 Wins and 3 Losses Giving us a 60% win rate with a risk reward of 1:1.5
Education
by SoftKill21
6
How to trade based on a Multi-Timeframe Analysis?Good morning, traders! Today we will do an explanatory post on how a Multi-Timeframe Analysis (Weekly-Daily-4H) can be used to take a trade. The benefit of this is that we will be trading taking into account the short, medium, and long-term behavior of the price, which gives us a higher success rate. Many times, we take a trade focusing only on one timeframe, and we are missing relevant information of higher temporalities, such as areas that we are not seeing. Let's see how it would look in practice: 🔸The first thing is to start with the chart with the higher temporality, in this case, the Weekly: - We see here that the price is in a range and bouncing in the support zone where a strong bullish momentum was previously generated. This gives us a first bullish hint. 🔸Then, in the Daily chart (published), we see that the price bounces off the previously marked zone and breaks the downtrend channel. This is the second bullish sign. - In addition, in this chart, we proceed to mark the potential targets of the movement. 🔸Finally, in the 4H chart is where we will look for our entry into the market: - After the break of the bearish channel, the price begins a corrective process at the edge of the trend line. When the breakout of this structure happens, the optimal thing is to place an income above the last lower high of the structure to avoid potential fakeouts.
Education
by ThinkingAntsOk
6
Found something awesome about DXY and BTC!Hi every one today we wanna talk about something that Is pretty Interesting and quite awesome for Crypto Traders! so we observed the chart of DXY and BTC and from last year they've been moving in the opposite direction! pay attention to the charts! you can see that the price of BTC starting from may 11th 2020 has started a bullish rally while on DXY chart the price has the started a Bearish movement exactly starting from that date! and In a single year DXY has kept Decreasing and BTC kept increasing . starting from may 11th 2021, DXY has started a bullish movement and you can see that the BTC price has started a bearish rally from that point. so we can come to a conclusion that If DXY moves (weather It's Bullish or bearish) BTC always moves in the opposite direction and of course Crypto market follows BTC. So this thing can be quite helpful for Traders such as you to understand the market better. Have a nice day and Good luck.
TVC:DXYEducation
by CobraVanguard
10
THE REASON WHY CRYPTOS AREN'T PERFORMING WELL LATELY.AS I MARKED, THIS BIG MONTHLY CANDLE PRINTED BY THE DXY IS SHOWING A LOT OF STRENGTH BY THE $DOLLAR WHICH COULD THEORETICALLY PUMP A BIT HIGHER BEFORE I REALLY START TO WORRY, IF WE BREAK THE TL AT AROUND 93.00 THEN I'LL BE EVEN MORE SKEPTICAL THAT CRYPTOS CAN RECOVER THE DIP EASILY. THE CORRELATION BETWEEN THE DXY AND THE CRYPTOS IS REALLY SIMPLE: CRYPTOS ARE THE HEALTHIER ALTERNATIVE OF THE DOLLAR AND THE CURRENT FINANCIAL SYSTEM, IF THE DOLLAR KEEPS ON PERFORMING WELL THERE IS NO REASON TO SWAP WORLD CURRENCY FOR A DIGITAL ONE. I PERSONALLY BELIEVE THERE ARE MANY REASONS TO STILL OPT FOR BTC INSTEAD OF THE $ BUT THE MARKET REACTS DIFFERENTLY, IT DOESN'T HAVE BRAIN NOR SOUL. CRYPTOS FOR THE LONG HAUL ARE GONNA FULFIL OUR DEEPEST DREAMS BUT FOR NOW WE JUST GOT TO SURF THE WAVE UNTILL IT LASTS. PAY ATTENTION ON THE DXY AND HOW IT WILL BEHAVE IN THE SHORT TERM TO HAVE A TRUE HINT OF HOW THE CRYPTOSPACE WILL MOVE IN THE SHORT TERM. DON'T FORGET TO LIKE AND FOLLOW FOR MORE CONTENT.
TVC:DXYEducation
by knownasJK
What is a Cup and Handle Pattern? GBP/USD Real ExampleGood morning, traders! Today we will make an educational post about a specific behavior in the market in certain circumstances, and we wanted to take advantage of the situation in GBP/USD that is currently happening. The pattern we are talking about is the CUP AND HANDLE PATTERN . This pattern is widely used in stocks or indices since they are trend instruments by their essence, and it serves to catch a potential rise in price after a correction. The premise for this pattern to be valid is that the asset is in a CLEAR trend, either bullish or bearish, and has initiated a corrective process. A cup and handle is a technical chart pattern that resembles a cup and handle where the cup is in the shape of a "u," and the handle has a slight downward drift. There are three key things to consider when forming these patterns: 🔸Length: Generally, cups with longer and more "U" shaped bottoms provide a stronger signal (this case). Avoid cups with sharp "V" bottoms. 🔸Depth: Ideally, the cup should not be overly deep. Avoid overly deep handles, as handles should form in the top half of the cup pattern. 🔸Volume: Volume should decrease as prices decline and remain lower than average in the bowl base; it should then increase when the stock begins to make its move higher, back up to test the previous high. 🔸In addition, it is also an important factor that the handle is a clear corrective pattern and has some point of support or support. In this situation, we see that in the daily chart, the price is touching the uptrend line, and also in the published chart, we see how it is also testing the broken zone of the range. The current reversal point is solid.
Education
by ThinkingAntsOk
2