Using price action & tradingview tools to trade betterHello,
Price action is a vital aspect of trading, and analyzing candlestick patterns is key to understanding market dynamics. The size of candles, representing the range between opening and closing prices, is crucial for traders. Large candles signal strong momentum and potential trends, while smaller candles suggest indecision or lack of clear direction. Traders use candle size to identify entry and exit points, manage risk, and gauge market sentiment. By examining the relationship between candle sizes and volume, traders can make informed decisions based on visual representations of price movements. In summary, candle size is a valuable tool in price action analysis, helping traders interpret market behavior for better decision-making.
A key tool you can use to measure the momentum of an asset is the Date & price range tool . This tool allows users to place points vertically on two different prices. A Text appears along the box displaying the total size of the price moving in terms of actual share price, percentage and time the move took. E.g the chart below shows the move took 3234 days and was +1024.43% in terms of increase.
Once you've got the hang of price action and figured out which way the trend is going, the next big thing is spotting patterns that tell you when to jump in. We focus on two things: motive moves, which show the trend, and corrections, which give us good entry points . Motive moves are like the big, important moves we want to trade, and corrections are where we can get in on the action. Recognizing these patterns helps us know when it's smart to join the market and increases our chances of making successful trades. a good example of these can be identified below
Once you've identified patterns, the next step is deciding when to get in. There are two main types: risk entries and risk-averse entries. Risk entries often align with motive moves, indicating a trader's willingness to take on more risk for potentially higher rewards. Below is a great way of looking at both of this
Risk taking entry
Risk averse entry
This is where the correction has already been broken and a trend determined. The Risk to reward ratio is lower and therefore less profit can be achieved here.
Next we shall be looking at how to look at the indicators to support your trading hypothesis and make better trades.
Good luck and all the best.
Wave Analysis
Wyckoff Optimism-Pessimism Index Discussion on BitcoinWe show why our proprietary indicator is much better than a normal On Balance Volume indicator, by showing three recent chart points where our indicator warned you of an possible trade, where as the On Balance Volume did not.
We are launching a suite of Wyckoff indicators here on TradingView in the coming days that will be Invite-Only but very affordable.
HOW I GET MY FUNDAMENTAL BIAS FROM THE CFTC WEBSITE How i get my fundamental bias from the CFTC website using the leveraged funds data from the commitment of traders data base.
after which i confirm direction technically and sentimentally.
AUDCAD,AUDUSD,AUDJPY,GBPCAD,GBPJPY,GBPUSD
HOW TO IDENTIFY STOPLOSS HUNTER AND TAKE PART ON IT - SETUP - HI BIG PLAYERS!
Today I want give you smart WAY to take part on stoploss hunters. I know everyone of us hate it to be stopped out. But to be honest, stoploss levels means a huge volume level, that institutions use for cheap entries.
This is why I want explain how I take part on stoploss hunting. I look on 4h chart for high demand and supply zones. On touching these area we all can expect more trade exchange and more volume.
If the price bounce of this zone and break with CHOCH (change of character ) the last trend, a lot of trader try to trade early as they can and the stoploss becomes calculatable .
As soon as the old trend is resumed, but in a narrow form, so that it is almost a sideways phase, then I identify stoploss hunter. The setup looks similar like this structure:
The good news: the stoploss to the last local point is very close and Risk-Return-Ratios of 1:3 are possible.
Comments are welcome!
Best regards
NXT2017
Time and Space documentary Journal NQ 1/19/2024Entry on the NQ based on daily bias and Price reaching back into inefficacy at the beginning of the new cycle I'm grateful I was able to execute. I could have gotten in early in the inefficiency zone I'm grateful took a safe entry and that I've seen a risk-to-reward entry I will see you next time for greater entry and trade management.
Proof of Concept 1/5/2024 topstep combine testlive trading looking for time and space concept documentation with commentary
HOW TO: Lesson 5 - The Importance of ConfluenceLesson 5 - The Importance of Confluence
This video explains what is confluence in trading, identifies confluence structural elements and provides guidance on how to put all the pieces of the puzzle together to increase trading success rate.
Algorithmic Identification and Classification of Chart PatternsWelcome to the world of technical analysis, where chart patterns play a pivotal role in shaping trading strategies. This is an ultimate guide designed to help users objectively identify the existence of patterns, define the characteristics and classify them. In this discussion, we will mainly concentrate on the patterns formed by trend line pairs. This includes wedges, triangles and channel type patterns.
🎲 Basic Principle of Identifying the Pattern
It is very important to apply definitely set of rules when identifying the patterns in order to avoid biases or fitting patterns to our opinions. The dangers of overfitting the patterns to our bias is documented in the idea
To identify the patterns objectively, we need to set some ground rules or follow a well-defined technique to derive the patterns. Here is the technique we follow to identify chart patterns.
🎲 Only Indicator Required - Zigzag
Tradingview has plenty of free community scripts for Zigzag indicator. For this demonstration, we are going to use our Multi Timeframe Recursive Zigzag implementation.
Once the indicator is loaded on the chart, go to indicator settings and perform these modifications.
Disable the Labels : The Labels contain information that is needed for this exercise.
Set the Highlight level to 1 or 0 : We can iteratively increase the level and check next levels on the go.
You can also adjust Zigzag Length and Depth Parameters.
🎲 Scanning and Identification of valid Pattern
We can either use 5 pivots or 6 pivots for pattern identification. 5-Pivot based scanning will generate more patterns than 6-Pivot based scanning. 6 pivot patterns are geometrically more accurate however, there is no proof that 6-Pivot based patterns produce better trading outcome.
🎯 Step 1 - On each level of zigzag, mark the last 5 or 6 zigzag pivots.
Since we are using Multi Timeframe Recursive Zigzag implementation, we can gradually increase the zigzag level from 0. This means that on every level, we can check if there are any patterns.
On each level - consider only the last 5 or 6 pivots and mark them on the chart.
Markings on Level 0 would look like this for 5 and 6 pivot scanning
🎯 Step 2: Draw Trend Lines
As part of this step, draw two trend lines.
The first trend line will join pivots 1 and 5 marked in the previous step.
The second trend line will join pivots 2 and 4 marked in the previous step for 5 pivot scanning. For 6 pivot scanning, the trend line joining pivots 2 and 6 will be marked.
🎯 Step 3: Inspect the validity of trend lines
A valid trend line is the one that confirm to below two points
Touches all the alternate pivots. For example, the trend line drawn from pivot 1 to 5 should also make contact with the candle of pivot 3. In case of 6 pivot scanning, the trend drawn from pivot 2 to 6 should also make contact with the candle of pivot 4.
All the candles from the starting pivot to ending pivot of the zigzag should be confined within the trend line pairs. Meaning, no candles should completely go above the upper trend line and no candle should completely go below the lower trend line.
Please note that while verifying the above points, minor adjustments in the alignment of the trend line can be made. Start and end of the trend line does not need to be on the high/low points of the candle, it can also be placed in any of the wick positions.
After adjusting the trend lines, in both type of scanning, we can see that the trend lines confirm to the above-mentioned rules. Hence, we have arrived with valid patterns in both types of scanning on the level 0 zigzag.
🎲 Classification of Patterns
Once the patterns are identified, they need to be classified into different types. We need to apply predetermined rules to objectively classify patterns into what they are. Everyone can build their own rules.
🎯 Properties of Derived Trend Lines
Before classifying the trend lines, we need to understand below properties of the derived trend lines.
▶ Direction of Individual Trend Lines
Both the trend lines needs to be individually classified among these categories
Rising - Trend Line is sharply rising up.
Falling - Trend Line is sharply falling down.
Flat - Trend Line is flat across the pivots.
Bi-Directional - Trend Lines are moving in opposite directions
Please note that, it is less probable for trend line to absolutely flat. Hence, allow angle to have certain degree of threshold to be considered as flat. For example, +- 10 degrees can be considered as flat.
Also, the angle of the trend line can further subjective based on how compressed the chart is. It is recommended to use either log/auto-scale or a specific formula based on ATR to identify the angle.
▶ Characteristic of the Trend Line Pairs
This parameter defines how both trend lines are aligned with respect to each other. Possible options are:
Converging - Trend Lines are converging and when extended towards the right will intersect at a visible distance.
Diverging - Trend Lines are diverging from each other and when extended towards the left will intersect at a visible distance.
Parallel - Trend Lines are almost parallel to each other and may not intersect to either right or to left at a visible distance.
To objectively identify the intersection distance, we further need to use some standard. Here are few options
Fixed Number of Bars : If the trend lines do not intersect to either left or right within X bars (Lets say 100), they can be considered as parallel. Otherwise, they can be classified as converging or diverging based on which side the intersection happens.
Relative to the Length of Pattern : If the length of longest trend line is X bars. The trend lines should converge within 1–2 times the X bars to be considered as converging or diverging. Or else, it can be termed as parallel channels.
🎯 Geometrical Shapes Classification
Following are the main geometrical classifications based on the characteristics of the trend lines and the pair.
Channels - Trend Lines are parallel to each other. And hence they both move in the same directions.
Wedges - Trend Lines are either converging or diverging from each other. However, both trend lines move in the same direction. Both trend lines will be either up or down.
Triangles - Trend Lines are either converging or diverging from each other. But, unlike wedges, upper and lower trend lines will have different direction.
🎲 Types of Patterns
Once we identify the direction and characteristics of trend lines, we can go on and classify the pattern in following categories.
Details below. Please note that examples are generated programmatically.
🎯 Rising Wedge (Contracting)
Rules for Contracting Rising Wedge are as follows:
Both Trend Lines are Rising
Trend Lines are converging.
🎯 Rising Wedge (Expanding)
Rules for the Expanding Rising Wedge are as follows:
Both Trend Lines are rising
Trend Lines are diverging.
🎯 Falling Wedge (Contracting)
Rules for the Contracting Falling Wedge are as follows:
Both Trend Lines are falling
Trend Lines are contracting.
🎯 Falling Wedge (Expanding)
Rules for the Expanding Falling Wedge are as follows:
Both Trend Lines are falling
Trend Lines are diverging.
🎯 Contracting/Converging Triangle
Rules for the Contracting Triangle are as follows
The upper trend line is falling
The lower trend line is rising
Naturally, the trend lines are converging.
🎯 Rising Triangle (Contracting)
The rules for the Contracting Rising Triangle are as follows
The upper trend line is flat
The lower trend line is rising
Naturally, the trend lines are converging towards each other
🎯 Falling Triangle (Contracting)
The rules for the Contracting Falling Triangle are as follows
The upper trend line is falling
The lower trend line is flat
Naturally, the trend lines are converging towards each other
🎯 Expanding/Diverging Triangle
Rules for the Expanding Triangle are as follows
The upper trend line is rising
The lower trend line is falling
Naturally, the trend lines are diverging from each other.
🎯 Rising Triangle (Expanding)
The rules for the Expanding Rising Triangle are as follows
The upper trend line is rising
The lower trend line is flat
Naturally, the trend lines are diverging from each other
🎯 Falling Triangle (Expanding)
The rules for the Expanding Falling Triangle are as follows
The upper trend line is flat
The lower trend line is falling
Naturally, the trend lines are diverging from each other
🎯 Rising/Uptrend Channel
Rules for the Uptrend Channel are as follows
Both trend lines are rising
Trend lines are parallel to each other
🎯 Falling/Downtrend Channel
Rules for the Downtrend Channel are as follows
Both trend lines are falling
Trend lines are parallel to each other
🎯 Ranging Channel
Rules for the Ranging Channel are as follows:
Both trend lines are flat
Naturally, the trend lines are parallel to each other.
Time and Space educational spaceGoing over market theory of time and space and how price books based of time and inefficiency not just price movements and patterns
How I made $1856 Using ICT Judas Swing Strategy (Trade BreakdownThis is a trade breakdown of a trade I took using ICT Judas Swing Strategy during London Kill Zone.
I hope you enjoyed it.
For private mentorship, pls Dm.
proof of work time and space price delivery algorithm Time and space commentary. look for proof of work documentation of price delivery
Full Time Trading. Everything You Need to Know
Once you mature in trading and become a consistently profitable trader, the question arises: are you ready to trade full time?
Becoming a full time trade is a very significant step and my things must be taken into consideration before you make it.
✨ Becoming a full time trader implies that you quit your current job, that you give up a stable income - your salary.
In contrast to classic job, trading does not give guarantees . Please, realize that such a thing as stable income does not exist in trading.
Trading is a series of winning and losing trades, positive and negative periods. For that reasons, remember that in order to become a full time trader, your average monthly trading income must be at least twice as your monthly expenses.
✨ Moreover, even if your trading income is sufficient to cover two months of your life, that is still not enough. You must have savings.
Trading for more than 9 years, I faced with quite prolonged negative periods. One time I was below zero for the entire quarter.
For that reason, supporting a family and living a decent life will require savings that will help you not to sink during the losing periods.
✨ Another very important sign is your correct and objective view on your trading. Please, realize that if you bought Bitcoin one time and made a couple of thousands of dollars, it does not make you a consistently profitable trader.
Please, do not confuse luck with the skill. Your trading must be proven by many years of trading.
✨ You must be emotionally prepared for the living conditions that full time trading will bring you.
Being a full time trader implies that you are constantly at home,
you work from home from Monday to Friday.
You do not see your colleagues, your social life will change dramatically.
I know a lot of people who started to trade full time and then realized that they can not work from home for different reasons.
⭐️ So what are the necessary conditions for becoming a full time traders:
you should have savings that will cover the negative trading periods,
your average monthly trading income should be at least twice as your monthly expenses,
your trading efficiency must be proven by objective, consistent results,
and you must be psychologically prepared for working from home.
When these conditions are met, you can make a significant step and become a full-time trader.
Are you ready?
❤️Please, support my work with like, thank you!❤️
Proof of concept Works! with Losstime concept scary how everything work to the very minute was a little late to the delivery was looking for scalp, but the exact time concepts was working algorithmic deliver based of inefficiencies in the market.
A Critic of Nassim Nicholas Talebhello traders , in this video , I'm explaining the problems with Black swan and the approach of Nassim Taleb to the market
feel free to post your questions .
and Soon I'm gonna acquire better recording equipment , forgive me for bad audio quality
this video is for traders with more than 2 years of experience, it might come very hard to understand for some
Have you read the book ?
Do you think its worth reading or not ?
Expanded Wedge Strategy(tested)"This strategy incorporates an Elliott Wave base, but I've simplified it.
Typically, it forms at the end of an upward or downward movement.
When you connect the lows and highs and observe the expanding WEDGE pattern:
wait for the candle to close above the upper SIDE.
If it retraces below, specifically closing below the upper SIDE, it's a signal to sell.
The stop-loss is set above The highest HIGH.
The target is the distance between the lowest and highest points of the pattern.
Have you encountered this strategy before??!
9 Essential TIPS For Newbie Traders (Learn from my Mistakes!)
In the today's article, I will reveal trading secrets I wish I knew when I started trading.
1️⃣ Forget about becoming a pro quickly
Most of the traders believe, that you can learn how to trade easily and that it takes a very short period of time in order to master a profitable trading strategy.
The truth is, however, that trading is a long journey.
I spent more than 3 years, trying different strategies and looking for a profitable technique to trade. Once I found that, it took more than a year to polish a trading strategy and to learn how to apply that properly.
Be prepared to spend YEARS before you find a way to trade profitably.
2️⃣ Focus on One Strategy
While you are learning how to trade you will try different techniques, tools and strategies. And the thing is that newbies are trying multiple things simultaneously. The more strategies you try at once, the more setups you have on your chart. The more setups you have on your chart, the more complex and difficult is your trading.
Remember that in this game, your attention is the key.
You should meticulously study each and every trading setup.
For that reason, I highly recommend you to focus on one strategy, one approach, one technique. Test it, try it and look for a new one only when you realize that it doesn't work.
Here is the example how the same price chart can provide absolutely different trading opportunities depending on a trading strategy.
Price action pattern trader would recognize a lot of a patterns, while indicator based trader could spot absolutely different bullish and bearish signals.
Now, try to imagine how hard it would be to follow both strategies simultaneously.
3️⃣ Start with small capital that you can afford to lose
You will lose your first trading deposit and, probably, the second one and potentially the third one as well.
Losses are the only way to learn real trading. While you are on a demo account, you feel like a king, but once you start risking your savings, the perspective completely changes.
For that reason, make sure that you trade with an account that you can afford to lose. The fact of blowing such an account should be unpleasant, but that should not affect your daily life.
4️⃣ Use stop loss
I am doing trading coaching for more than 4 years.
What pisses me off is that the main reason of the substantial losses of my mentees is the absence of stop loss. Why can it be if naturally everyone: from your broker to Instagram trading gurus repeat that day after day.
Set stop loss, know in advance how much you risk per trade, and know the exact level on a price chart where you become wrong.
Imagine what could be your loss, if you shorted USDJPY and hold the trade while the market kept going against you.
5️⃣ Forget about getting rich quick
That is the iconic fallacy. I believe that around 90% of people who come in this game want to get rich quick, want easy money.
And no surprise, when I share a trading setup on TradingView, and it loses I receive dozens of messages that I am a scammer.
People truly believe that professional trading implies 100% win rate and quick and easy money.
The truth is, traders, that trading is a very tough game. And with a good trading strategy, you have just a little statistical edge that will give you the profits that would slightly overcome your losses.
6️⃣ Train your eyes
Professional trading implies pattern recognition: it can be some technical indicators pattern, the price action or candlestick formation, etc.
Your main goal as a trader is to learn to identify these patterns.
Pattern recognition is a hard skill to acquire.
You should spend dozens of hours in front of the screen in order to train your eyes to identify certain patterns.
Here is how many patterns you would spot on GBPUSD chart, paying close attention.
7️⃣ Track and analyze your trades
Study all the trades that you take, especially the losing ones.
Look for mistakes, look for the reasons why a certain setup played out and why a certain one didn't. Journal your trades and make notes.
8️⃣ Don't use technical indicators
Newbies believe that technical indicators should do the work for them.
They are constantly looking for one or a bunch that will accurately show where the market will go.
However, I always say to my mentees that technical indicators make the chart messy and distract.
If you just started trading, focus on a naked chart, learn to analyze the market trend, key levels, classic price action patterns.
Learn to make accurate predictions relying on a price chart alone.
Only then add some technical indicators on your chart.
They won't do the work for you, but will help you to slightly increase the accuracy of a certain setup.
Above is the classic chart of newbie trader.
A lot of indicators and a complete mess
The same chart would look much better without technical indicators.
9️⃣ Find a Mentor
There are hundreds of trading mentors. Find the one with a trading style that you like.
Follow him, learn from his trading experience, listen to his trading recommendations.
9 years ago I found a guy, his name was Jason.
I really liked his free teachings, and they were meaningful to me.
I decided to purchase his premium coaching program.
It was 200$ monthly - a huge amount of money for me at that time.
However, with his knowledge I saved a lot, I learned a lot of profitable techniques and tricks that helped me to become a professional forex trader.
Of course, this list could be much bigger.
The more I think about different subjects in trading, the more important tips come to my mind. However, I believe that the tips above
are essential and I truly wish I knew all that before I started.
I hope that info will help you in your trading journey!
Good luck to you.
❤️Please, support my work with like, thank you!❤️
Proof of Work NQHarmonics Space Time Delivery inefficiency and Order. proof or work for documentation
proof of work 3.3.2024 delivery of concept Looking at the video you can see the proof of work from the previous video. This is the concept of space and time. cycles and algorithmic delivery.
Proof of work NQLooking at time and Space this example of how to book price with concept of space, sound, and algorithmic delivery.
Follow of proof of work video1:15 Candle Switch Momentum and Delivered into the Inefficiency in the Market to Delivery into Expectations. The study was on the 1:15 Momentum Shift shown by the Yellow Line."
TIME IS CENTRAL OF ALGORiTHMIC DELVIERYIm keeping Data on this concept so feel free to follow me as slowly reveal on this journey. the concepts of music, sonics, and harmonics integrated within a systematic theory. test runs on different markets
SASKEN: Favorable Technical Indicators Point Towards a PotentialIn recent developments, SASKEN is showing promising signs as it approaches a crucial resistance trendline. Notably, the stock has received support from a reliable support trendline, accompanied by healthy trading volumes. Additionally, there has been a positive crossover observed in the MACD indicator, further strengthening the bullish sentiment.
An encouraging factor is that SASKEN is currently trading above its 50-day moving average (DMA), indicating upward momentum. Moreover, the stock has been consistently finding support from this moving average, adding to its bullish prospects. Given these factors, I am inclined to recommend a BUY position with a stop-loss (SL) set at the 50DMA level.
#SASKEN #StockAnalysis #TechnicalIndicators #BreakoutPotential #BullishSentiment #MACD #MovingAverages #TradingInsights
Flips That Sweep LiquidityREACTION SWEEP
Flip create + sweeps high
REACTION EQLs SWEEP
Flip crates + sweeps equal highs
FLIP SWEEPS PRIOR LEG
Flip sweeps high in prior leg
FLIP GETS SWEPT
Intial Flip reaction gets swept
