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Beginner tips! My next trade. 🚀 In today’s lesson, we dove into the next trades you can take, analyzed potential setups, and discussed strategies to improve your edge. 🧠 We also explored some crucial aspects of trading psychology, emphasizing the importance of staying disciplined and managing emotions. ✍️ Lastly, we highlighted the importance of journaling your trades to track progress, identify patterns, and refine your strategy over time. Let’s keep building those skills—every step counts!
by Trade-Journal
BITCOIN - MEGA BUBBLE ALERT - The Top Is Very Close Now...Bitcoin and many other markets seem to be approaching the end of a significant cycle, signaling the conclusion of what may be the largest bubble in modern history. In this video, I share my latest analysis using the AriasWave methodology to explain why I believe this trend, which began in 2008, is finally nearing its completion. While it’s speculative, I estimate that we could be approaching the final peak by March. The increasingly weaker and more complex structure of this move suggests to me that it’s a fragile impulsive wave, indicating an impending reversal. Just a quick reminder: AriasWave is not the same as Elliott Wave. I developed AriasWave over an 8-year period with the goal of achieving a more accurate understanding of wave analysis, leveraging modern technology to refine the process. If you would like to learn more, visit the website.
by AriasWave
The Impact of Cognitive Biases on Trading DecisionsAre You Aware of How Cognitive Biases Shape Your Trading? 📊 Have you ever wondered why, despite having all the right tools and strategies, your trading decisions sometimes veer off course? The culprit might not be the market, but rather your own mind. I’m Skeptic , and I’m here to guide you through understanding cognitive biases—mental shortcuts our brains use to simplify decision-making—that can significantly impact your trading performance. By recognizing these biases and learning how to manage them, you can make smarter, more rational trading choices. Let’s dive in to explore how these biases manifest and, more importantly, how to outsmart them for better trading outcomes. What Are Cognitive Biases? 🔍 Cognitive biases are systematic errors in thinking that can affect judgments and decisions. While these biases help us navigate the complexities of daily life, they often lead to suboptimal outcomes in high-pressure environments like trading. Recognizing and mitigating their influence is crucial for every trader. Common Cognitive Biases in Trading 1. Confirmation Bias 📑 What it is: The tendency to search for, interpret, and remember information that confirms pre-existing beliefs. Actionable Tip: Seek out information that challenges your assumptions. Follow diverse sources and consider alternative viewpoints. A balanced perspective is key to sound decision-making. 2. Anchoring Bias ⚓ What it is: Over-reliance on the first piece of information (the "anchor") when making decisions. Actionable Tip: Regularly re-evaluate your positions using the latest market data. Stay flexible and adapt your strategies as conditions change. 3. Herd Mentality 🐑 What it is: The tendency to follow the crowd’s behavior instead of conducting independent analysis. Example: During the 2020 bull run, I blindly followed popular trading trends, which led to impulsive decisions and missed opportunities. Actionable Tip: Develop and stick to your own trading strategy. Trust your research and analysis over market noise. 4. Loss Aversion ❌ What it is: The preference to avoid losses rather than acquire equivalent gains. Actionable Tip: Set strict stop-loss orders and adhere to them. Accepting small losses is a natural part of trading and helps safeguard your capital. 5. Overconfidence Bias 💪 What it is: The tendency to overestimate one’s abilities or the accuracy of predictions. Example: Overconfidence often led me to take excessive risks and trade too frequently, ignoring clear warning signs and proper analysis. Actionable Tip: Maintain a trading journal to document your decisions and outcomes. Reflecting on past trades helps keep your ego in check and fosters continuous improvement. Practical Strategies for Outsmarting Cognitive Biases 🧠 Use Risk Management Tools: Employ stop-loss and take-profit levels to mitigate emotional decision-making. Pause and Reflect: Before making a trade, ask yourself if any biases might be influencing your decision. Practice Mindfulness: Regularly evaluate your emotional state to ensure you’re trading with a clear mind. Start Small: Test strategies in a demo account or with small trades to build confidence without significant risk. Conclusion: Trade Smarter by Outsmarting Yourself 🚀 Trading isn’t just about mastering the market; it’s also about mastering your mindset. By being aware of cognitive biases and actively working to counteract them, you can make more rational and informed trading decisions. Ready to level up your trading? Start by identifying one cognitive bias you’ve encountered and take steps to overcome it. Share your thoughts and experiences in the comments below—I’d love to hear your perspective! I’m Skeptic , and I strive to provide honest and straightforward trading insights. Together, we can navigate the challenges of trading and grow along the way :)
Education
by SkepticWise
2
BTC - 1H Elliott Wave AnalysisGreetings, this is the immediate bullish Elliott Wave Count for BTC. I also did a 4H count which takes a deeper retracement into consideration which will be linked below in the notes. I'll like it below in the notes for everybody that is interested it in :) Spoiler: This Analysis gets a bit more complex. In the immediate bullish count we assume that Bitcoin is forming a double 1-2 set up which should lead to a rather aggressive Wave 3 to the upside. From the low which formed the blue Wave 4 we have a five wave move up displayed in purple which finished white Wave 1. We also formed white Wave 2 already which is a very shallow Wave 2 but it hit the minimum requirements of the 0.236 FIB at 98031.9 USD which is very rare and not preferred but valid. From here we have started white Wave 3 of which we finished the first Wave displayed as the green Wave 1 here and we are currently working on the green Wave 2 in the yellow ABC. Green Wave 2 support sits between the 0.5 FIB at 101538.8 USD and the 0.786 FIB at 99110.5 USD. Yellow Wave A seems to be in as well as yellow Wave B which could extend tho. Assuming yellow Wave B is in we can calculate targets for yellow Wave C which are very well in confluence with our green Wave 2 support. Targets for yellow Wave C are the 1 to 1 FIB at 101420.9 USD, the 1.236 FIB at 100585.2 USD, the 1.382 FIB at 100068.2 USD and the 1.618 FIB at 99232.4 USD. Noteworthy is that all targets for yellow Wave C overlap with the Fibonacci's of green Wave 2 support area. Additionally the 1.618 FIB target at 99232.4 USD of yellow Wave C which overlaps with the 0.786 FIB of the green Wave 2 support area at 99110.5 USD also overlap with the 0.382 FIB at 99337.8 USD of our Wave 2 support area of the "BTC - 4H Elliott Wave Analysis" which focusses on a deeper retracement which I'll link below in the notes. The golden pocket of green Wave 2 also sits perfectly on 100'000 USD which is an important psychological level. The green & white Wave 3 should take us well above the last ATH at 108366.8 USD. On the chart you can see some targets for white Wave 3 which are the 1 to 1 FIB at 109234.6 USD, the 1.236 FIB at 112.052.7 USD, the 1.382 FIB at 113796.1 USD and the 1.618 FIB at 116614.1 USD. Noteworthy is that the 1 to 1 FIB target at 109234.6 USD is right above the ATH at 108366.8 USD which could function as a short term resistance, so be aware of volatility! Additionally we got some confluence for the 1.618 FIB target at 116614.1 USD with a high timeframe target at 115948.9 USD which I discussed in my "BTC - 1D Elliott Wave Analysis" which I'll link below in the comments. Be aware that we get the inauguration of Trump next week and the stock market is closed on Monday which both can have some effect on Crypto. If you enjoyed this analysis I'd appreciate if you give it a boost as I put a lot of effort into it :) Thanks for reading. NO FINANCIAL ADVICE.
Long
by KanashimiBro
btcusdt longbtcusdt long 💎Please don't be greedy ENTRY : yellow point TP : blue lines SL : below red line for LONG position above red line for SHORT position ⛔️INSTRUCTIONS 1: Please respect the yellow entry point, otherwise you risk entering too early before my strategy or too far, thus reducing gains and aggravating losses in the event of a stop loss ⛔️INSTRUCTIONS 2: For risk and money management: 5% of your wallet for LEV X ≤20 And 3% of your wallet for LEV X ≥ 20
Long
by RODDYTRADING
BTC breaks higher From the recent trend of Bitcoin, it can be seen that the price has experienced several key trend changes: 1. Descending channel: The price started to pull back from the high point near 108,340.67 and entered an obvious descending channel, falling to 92,458.46 at the lowest point. This range indicates that the market entered a correction after encountering strong resistance in the high point area. 2. Upward trend channel: Starting from 92,458.46, the price gradually rebounded and broke through the downward channel. At present, Bitcoin has entered a new upward trend channel, and the current price (103,182.59) is close to the upper track of the channel, showing obvious upward momentum. Key levels 1. Fibonacci retracement level: 0.618 retracement level (102,259.76): This is the key golden section point measured from the top of 108,340.67 to the bottom of 92,458.46. The price has fluctuated in this area recently, indicating that there is a strong support and resistance conversion at this position. 0.5 retracement level (100,388.32): This position provided some support during the price decline, reflecting that the market buying was relatively active at this position. 0.382 retracement level (98,516.87): As an important dividing line, the price has formed a certain short-term consolidation in this area before. 2. Support and resistance: Current main resistance level: 108,340.67 This is the recent highest point. Breaking through this position will significantly enhance the market's bullish sentiment. Main support level: 92,458.46, which is the low point of this round of decline. If it falls below this level, it may trigger more selling. Price pattern and momentum 1. Double bottom pattern: A double bottom was formed at 92,542.93 and 92,577.50, confirming the strong support of the market in this area. The price then rebounded and gradually broke through the downward channel upward. 2. Upward trend channel: From the channel marked by the green parallel lines in the figure, it can be seen that Bitcoin is currently climbing steadily, and the upward trend is complete in the short term. However, the price is currently close to the upper track of the channel and may face certain pullback pressure. Trading strategy suggestions 1. Long strategy: If the price is stable above 102,259.76 (0.618 retracement) and breaks through 103,500, you can consider entering the market to go long, with a target of 105,000 to 108,000. If the price breaks through the previous high of 108,340.67, it may open up a larger upside space, and then you can consider chasing long. 2. Short strategy: If the price falls below 102,000, it may indicate that the short-term bullish momentum is weakening. At this time, you can consider shorting, with a target of 100,000 or 98,500. Pay attention to the performance of the 95,525.94 support area. Falling below this level may lead to a deeper pullback. Risk Control The current trend of Bitcoin is in an upward channel, and the market sentiment is optimistic, but it is also necessary to guard against the possibility of false breakthroughs. Recommendations: - Set a strict stop loss to avoid unnecessary losses due to excessive price fluctuations. - Pay attention to the potential impact of macroeconomic factors (such as the Fed's policy) and market news (such as regulatory dynamics) on prices. In summary, the technical side of Bitcoin shows short-term bullishness, but it is necessary to be wary of the pressure level near the upper track of the channel. Investors are advised to flexibly adjust their strategies according to the trend.
Long
by RonPeter_Trading
Congratulations if you traded it! More free money! In today’s video, we dive into some critical mindset shifts that often take beginner traders years to understand and embrace. Looking back, if I had truly grasped these concepts in my early trading days, I could have saved myself over 100K in losses. That was the price I paid for my trading education—but because I made those mistakes, you don’t have to. As a beginner trader, make sure you have a system with positive expectancy, clear entry and exit points, and strong risk management. Test your system thoroughly—what if I told you that you could calculate your system’s annual income and predict exactly what it could earn in a month, a year, or even 10 years? Also, shoutout to everyone who profited from yesterday’s setups—free money, once again! 🚀 See you in bootcamp! 👉 Watch the full video for all the details! 📉 Check out the full breakdown video! 📺 🔔Enquire for 121 lessons / academy
by Trade-Journal
Bitcoin (BTC/USDT) Gann Levels#### **Overview:** This hourly chart for **BTC/USDT** (Binance) integrates Gann square levels and grid lines, highlighting significant price zones and cyclical market behavior. Gann levels provide critical insights into potential support, resistance, and trend continuation points. --- ### **Key Observations:** #### **1. Price Levels:** The chart showcases several key Gann levels, with **450° = 104,819.619073 USDT** as the current price proximity level. - **0° = 92,269.275814 USDT**: Foundational support zone and cycle reset level. - **90° = 95,331.861629 USDT**: Key short-term support. - **180° = 98,444.447444 USDT**: Next strong support if bearish momentum continues. - **360° = 101,607.033258 USDT**: First upward target in a bullish scenario. - **450° = 104,819.619073 USDT**: Current level of consolidation and resistance. - **540° = 108,082.204888 USDT**: Resistance zone for extended bullish movement. - **720° = 114,757.376517 USDT**: High target in a long-term bullish rally. --- #### **2. Price Action:** - **Current Price:** 104,884.46 USDT (-0.90% for the session). - The price has broken through multiple lower degrees (e.g., 90° and 360°) and is now consolidating around the **450° level**. --- ### **Time Cycle Analysis:** - The Gann grid visually represents time cycles that may align with market turning points. - **Key Event:** A significant time marker appears near **27–28 Jan 2025**, marked by the star. This could indicate a critical reversal or breakout zone. --- ### **Scenarios to Watch:** #### **Bullish Scenario:** - **Trigger:** Sustained breakout above **450° (104,819.619073 USDT)**. - **Targets:** - **540° = 108,082.204888 USDT** - **630° = 111,394.790702 USDT** - Long-term target: **720° = 114,757.376517 USDT** #### **Bearish Scenario:** - **Trigger:** Rejection at **450° (104,819.619073 USDT)** and a drop below **360° (101,607.033258 USDT)**. - **Targets:** - **First Support:** 270° = 98,444.447444 USDT - **Next Support:** 180° = 95,331.861629 USDT - Critical support: 90° = 92,269.275814 USDT --- ### **Trade Plan:** #### **Long Position Setup:** - **Entry Trigger:** Breakout and close above **450° (104,819.619073 USDT)**. - **Stop-loss:** Below **360° (101,607.033258 USDT)**. - **Targets:** - **540° = 108,082.204888 USDT** - **720° = 114,757.376517 USDT** #### **Short Position Setup:** - **Entry Trigger:** Rejection at **450°** and confirmed breakdown below **360° (101,607.033258 USDT)**. - **Stop-loss:** Above **450° (104,819.619073 USDT)**. - **Targets:** - **270° = 98,444.447444 USDT** - **180° = 95,331.861629 USDT** --- ### **Conclusion:** The chart provides a clear structure for analyzing Bitcoin’s price movements using Gann levels. Pay attention to the 450° level for confirmation of the next directional move, and closely monitor the **time cycle near 27–28 Jan 2025** for possible trend shifts. Wish you best of luck!
by Magic_xD