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Wave Analysis
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HOW TO DRAW SUPPORT AND RESISTANCE LIKE A PROHello everyone, If you like the materials in this video, do not forget to support with a like and follow.
In this video, we are going to learn how to draw support and resistance in a practical way on NZDCAD Daily timeframe.
Hope you will make good use of it!
Rich
EDUCATION _Trend duration All trends can be divided by:
short-term;
medium-term;
long-term.
To determine the duration of a trend, you need to use senior timeframes. In classical theory, trends are divided into annual, monthly and daily trends. For scalping, as a rule, we have enough:
define a long-term trend on a 1-day chart;
medium-term trends will be 1-4 hours;
short-term trends at 5 and 15 minutes.
Thus, we can see the picture, when a single long-term trend consists of several medium and short-term trends. This is often the mistake of beginners. They put one frame, like 5 minutes, define trends, but forget to define medium- and long-term trends. And then they wonder why this price has suddenly turned around at 5-minute. That's why on another timeframe the picture looks different.
Say, what do you see on these 5 minutes?
Does the price, like an abnormal price, fall down after a side movement? Absolutely.
Thus, we can see the picture, when a single long-term trend consists of several medium and short-term trends. This is often the mistake of beginners. They put one frame, like 5 minutes, define trends, but forget to define medium- and long-term trends. And then they wonder why this price has suddenly turned around at 5-minute. That's why on another timeframe the picture looks different.
Say, what do you see on these 5 minutes?
Does the price, like an abnormal price, fall down after a side movement? Absolutely.
the same chart looks like on the 4-hour time frame:
It is very important to understand where we are in the trend.
You can see the types of trends in this post:
Friends, push the like button, write a comment, and share with your mates - that would be the best THANK YOU.
What is The FAMOUS SETUP? Xmass GIFT for Everyone Today I'm going to share with you one of the most powerful Trading Pattern I've found and traded since 2012.
How to Predict Tomorrows Wave 5 10 Hours in Advance and Trade it with 80% Win rate?
We have a topic in our AIMS Forum dated Feb 13, 2012. Still running and still valid. and hopefully will continue to work for the years to come.
This video explains what is The Famous Setup and How to Take it.
Famous setup is based on the concept that
>>> Wave 3's of H1 time frame usually last between 2-3 days followed by 1 day sometimes 2 days Wave 4 and then 1-2 days Wave 5.
What we do is when we see a strong move on a pair (today) we expect it to go sideways during Asian session.
We want to see it creating pancake tight sideways horizontal flat aims boxes. (A tight Range)
>>> and then we catch the 5th of wave 3 of h1.
Our preferred way is to go to m15 and find a S1 (a breakout Setup into Wave 5) but we can also simply trade the h1 level at LO on H1 time frame.
Entry checklist:
- W3 on H1 from previous days London/US sessions;
- W3 has not shown divergence, interweave divergence (as 5 of 3 may be done);
- Flat/sideways Asian session, shown by M15 sleeping alligator, close to ZL, or by very small H1 AIMS box;
- W3 has not retraced back to the zero line, although this may give a genuine S1 into W5.
- Entry on break of M15 level with opposite M15 level as stop-loss;
- Entry can also be taken on H1 level using H1 chart.
WAVES within WAVES within Waves | How to Buy Stocks that Go UPHow to Chose and Trade the Stocks that have a higher probability of Rising in the next 2-3 days
A technique I use that we call AIMS The Setup One Strategy.
The Market moves in waves. How to know when is the right time to buy and when to Sell?
✔️ How To Convert 500 $ To 1000 $ In 1 Month With 0 Risk ✔️✔️ How To Convert 500 $ To 1000 $ In 1 Month With 0 Risk ✔️
🏦 Account Size : 500$ 🏦
📱 Favorite Pairs To Work On : XAUUSD - EURUSD - GBPUSD - NZDUSD 📱
Lot Size For First Week : 0.05 & Profit Need For First Week : 10%
100 Pips With 0.05 -- 20 Pips Per Day 📍
Lot Size For Second Week : 0.07 : Profit Need For Second Week : 20%
160 Pips With 0.07 -- 32 Pips Per Day 📍
Lot Size For Third Week : 0.10 : Profit Need For Third Week : 40%
265 Pips With 0.10 -- 55 Pips Per Day 📍
Lot Size For Final Week : 0.10 : Profit Need For Final Week : 10%
95 Pips With 0.10 -- 20 Pips Per Day 📍
📍At End Of The Month Account Balance : 1016 $ 📍
What About Those Price Targets After a PullBack?Taking my Last Educational video here on TradingView to the Next Level.
Firstly reminding traders of how to measure pullbacks against the main trend with Fibonacci Retracements. Then new for this week, how to use the Fibonacci Extension Tool to define that high probability Price Target zone, after a measured pullback.
Using FISV stock as an example but the same strategy can be used with the same success on all instruments.
In fact!! As your homework, lets see some chart images in the comments below with your pullback measurements and projected target measurements on lots of different instruments.....
Great Bullish Cycle In The Market + Secret's You Never Know 🗒 Just browsing through my analysis means a lot to me.
——
Bullish Cycle in The Market
----------------
Pair Typical Stop Hunt Distance
EUR/USD 25 - 50 PIP'S
AUD/USD 25 - 50 PIP'S
USD/CAD 25 - 50 PIP'S
USD/CHF 25 - 50 PIP'S
USD/JPY 25 - 50 PIP'S
EUR/JPY 50 + PIP'S
GBP/USD 50 + PIP'S
GBP/CHF 50 + PIP'S
GBP/JPY 75 + PIP'S
------------
Use The Bigger Picture ( 1 hr & 4hr Time Frame ) To Identify level' for Possible Enterer's
At The Lowest level ( 15 min ) Take Trade's Only From The LOD/HOD
A correct Second leg " Peak Formation " Entry Will
Use The " Zone Shift " To lock in Profit
The " Zone Shift " Is a Move Of 25 - 50 PIP'S Purposed to Trap The Trade Volume Entered at The
Extreme of the Price Move
The " Zone Shift " is Typically Followed By Two
To Six Bars ( 30 - 90 Min ) Of Consolidation To
Accumulate Additional order's
The Stop Hunt " is Typically Three Drives That May
occur in as little as one 15 min bar > three impulses will be noted on " live Candle
The End of The " Stop Hunt " Result's in The Extreme ( LOD ) Of The Cycle And Gives The First Signal
For Where The Reversal Will Occur
A large Impulse Move During The Iridial Channel
May Still be Worked By Resetting The Iridial Channel after The Move occurs and then looking
For Stop Runs From The reset Channel
The High And low Of The initial Channel is Called
The " Market Maker Spread "
This Is Typically 25 - 50 PIP'S in Hight
-------------------------
important Note
Additional level 1 Consolidation Note :
The Length of The Consolidation after the Stop Hunt
Drive To HOD / LOD Depends o The Accumulated
Trapped Volume
A ) The Previously Accumulated Volume May Be
Largest Enough That No Consolidation is Needed And
a V Bottom Occurs
B ) Extra Time May Be Needed For Volume
Accumulation And The Run May Be Direct From The
Additional Time ( Half )
C ) Extra Time May Be Needed Followed By And
Expected Second - Stop Hunt ( Wide W Pattern )
How to trade with Elliott wave Elliott wave trader buy at the low of wave 1 and 3 while exit at 5th wave
buying at the low of 1st wave or 2nd corrective wave give you numbers for both sl and tp.
since 3rd wave always move beyond the high of 1st wave and longest among 1,3 and 5, catching 3rd wave alone gives you enough profit.
if you buy at 2nd corrective wave you put your sl below low of 1st wave.
as Elliott wave has guidelines for every wave. buying at the low of 2nd wave give you opportunity to profit 3 and 5 wave at the same time. Since 4th wave can't enter in the price territory of 1st and you entered below the high of 1st wave you can lock your profit at 1st wave and wait till end of 5th which give profit of entire trend.
The Hurdles of TradingI read something that made me think of something Steve Gregor had said in one of his teachings about the "failure" rate in this space (trading). "They" say the failure rate is 95%+ and that the failure rate is based more on the individual's psychology that has a direct impact on their trading decisions. I know personally that this is true from the things that I am dealing with in my life. One of Warren'Buffet's famous quotes is, "If you can't control your emotions, YOU will NEVER be able to control your checkbook." We have such an emotional response to money (just let someone ask you to borrow some money) that the pursuit of money, especially money that is relatively simple to attain, can cause many "head-game" problems in "searching" for that money.
To be successful in trading wealth, it takes just two things: 1) Belief and 2) SEEKING to UNDERSTAND FIRST. That is it, the secret sauce, the mojo, etc. The problem (and I am speaking from my own experience) is that I want it now; I want to take shortcuts, don't want to be patient, want things done my way, etc. 1) Anyone on the face of this planet can have success in the financial markets. It has nothing to do with "smarts" but more so with #2. 2) Seeking to understand first (the most challenging part of getting BUT once GOTTEN you have just created your very own MONEY TREE).
I will take a look at one of the hottest alt-coins on the market, which is BTCUSD. When we are brand new at starting to learn the ancient "secrets" of this GAME, we are taught some pretty basic things that, along the way, we seem to forget. 1) Larger time frames dictate smaller time frames, 2) Market Structure, market structure, market structure, and 3) Refer back to #2.
We have to understand what volume and the associated price action tell us so that we can then prepare to move when the market moves. (paraphrased Steve Nison - The Father of Japanese Candlestick Charting in the west). We need to know where we are in the "grand scheme" of things and where we are headed ("Look left to get right, look left to get on the right side of money" - FX Shepherd). As we can see from the chart, I have blue ellipses and red ellipses. The blue ellipses follow the market structure as it is moving up, making higher lows and higher highs. The red ellipses are where the market structure has been broken but not changed the trend (red arrows point to these red ellipses). A trend change would occur with breaking the long-term outer trend (short term) line and then finally, the LOW that started the upward journey, to begin with (long-term). I have included some "key" institutional moving averages to show how the market works together to keep everything in order (ALL THINGS ARE FIBS). You can see how the market has responded to the "nature" of these things as it has continued to move (further confirming the upward/rally)
With all that being said, to quote my brother Bin Wright, "If you want to make Grandma's Famous Cake, you can't change the recipe if you want it to be Grandma's Famous Cake." 1) Believe you can do this, 2) Seek to Understand First!
Dollar Index (DXY) From an educational point of view, time cycle theory shows that the price of the dollar in January is interested in reaching its lowest level.
In fundamental terms, the dollar usually weakens slightly towards the end of the presidency.
Especially if a Republican like Trump is president.
The value of the dollar weakens, especially during the Republican era, and grows during the Democratic era. (Just look at the chart)
There are two lines of support here that mark the end of the flat correction pattern.
Wave support line (4) and correction wave support line (a)
I estimate the probability of a price return from wave support (4) as 30%.
And I estimate the probability of a price return from wave (a) support at 80%.
I wish you good deals
Please like the post and leave a comment so that we can get energy and provide more analysis, thank you
Break and Retest Strategy: Price ActionThis is one of the simplest strategies in Forex to know and understand, to be used on any timeframe in trading: (Chart example is on 1 hr timeframe)
1) Wait for price action to stay within a range, which for me is 12.5 to 25 pips.(For scalping or day trading, happens during Asian session a lot)
2) Put both resistance and support lines above and below price action bodies (not wicks) of all candlesticks.
3) Once price action does a break of this range (either bearish or bullish), then just watch for...
4) Price action to retest and come back to this range again ( bearish or bullish)
5) Consider entering a new trade once the price action retests and hits this range again. (Might be 50%-62.8% on Fib. Ret indicator/Golden reversal area)
6) Place stop loss above this retest on a bearish/sell trade and below this retest on a bullish/buy trade.
7) Noted trade on the chart is a great 1:5 risk and reward set up on this past Friday 1 hour timeframe, but minimum 1: 2 is a good risk-reward setup.
*Remember both risk management and price action is #1 in Forex trading. Wish you good luck!!!
Elliott wave Principle : Triangles There are 3 Types of Triangle,
Triangle forms in Corrective waves,
Triangle occurs in wave 2, 4 & B,
1) Contracting Triangle
+ Always Subdivides Into Five waves
+ at least four waves among wave A, B, C, D, each subdivide
into a Zigzag or Zigzag Combination.
+wave C never moves Beyond the end of wave A, wave D never moves beyond the end of waves b and D converges with a line connecting the eds of waves A and C.
+A triangle never has more than one Complex sun wave, in which case it is always a zigzag combination or a triangle.
2) Expanding Triangle :
most Rules are same as for contracting triangle
differences is :
+ wave C, D and E each moves beyond the end of the preceding same- directional sub-wave.
+ sub-waves B, C and D each retrace the last 100%
but no more than 150 Percent of preceding sub-wave.
3) Barrier triangle :
+ a Barrier Triangle has the same characteristics as a contracting triangle expect that waves B and D end at essentially the same level.
We have yet to observe a 9-wave barrier triangle, implying that this form may not extend.
+ when wave 5 follows a triangle, it is typically either a brief, rapid movement or an exceptionally long extension.
Elliott Wave Analysis: OMGUSD In A Correction Before HigherHello traders!
Today we will talk about OmiseGO (OMGUSD) and its price action + wave structure from Elliott Wave perspective.
Some cryptocurrencies were in a massive and impulsive rise since March and one of them is also OMGUSD, in which we clearly see a five-wave bullish cycle into wave A/1 on the weekly chart. We know that after every five waves, a three-wave pullback follows, so an a-b-c correction in wave B/2 could be already in progress, which can send the price ideally back to 50%-61,8% Fibo. retracement before the uptrend for wave C/3 resumes.
If we take a look on a daily chart, we can see five-wave fall from the highs labeled as the first leg "a", so current recovery can be only temporarily, as part of a lower degree three-wave (a)-(b)-(c) corrective rise in wave "b" with ideal resistance around 5.0 - 7.0 area, from where we should be aware of another sell-off for wave "c" to complete a higher degree wave B/2. And ideal strong support, where bulls may show up again, would be around the previous wave "iv" swing low and 1.5 support area.
Be humble and trade smart!
If you like what we do, then please like and share the idea!
Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
The second series - MIND OF THE MARKETMIND OF THE MARKET
Stage 1 Consolidation - ambiguity )
---------
the market is mostly unnoticed and
underappreciated by the public Smart
Money begins to nibble up the supply
Stage 2 Opportunity
--------
The Smart Money Aggressively
Place Buy Order
Late Stage 2 Fear of Missed
-- Opportunity Greed --
----------
They Hard Finally Buy's - To Near The Top
The Smart Money Take's Some Profit
Stage 3
----------
The Hard Stampedes into market
While The Smart Money Takes Profit
The Market Moves Down and Up
in Erratic Rising Uncertainty
Stage 4
-----------
The Smart Money liquidates
and inflated short positions
the herd thinks The Market
Is Cheep and Buys
Late Stage 4
------------
The Herd Finally Gives Up and Sells
The Smart Money Covers Their Short
Positions By Buying into
the hoard's Selling
Stage 1 Consolidation - apathy )
----------
the herd has forgot about the
market , The Smart Money merely
watches and waits for the next
Opportunity in this market
Visual guide to Elliott wavethis is visual guide to Elliott wave
buy low sell high
when you draw 135 bullish impulsive wave and abc corrective wave every support and resistance become visible.
Guidelines
Wave 2 never retraces more than 100% of wave 1.
Wave 3 cannot be the shortest of the three impulse waves, namely waves 1, 3 and 5.
Wave 4 does not overlap with the price territory of wave 1, except in the rare case of a diagonal triangle formation