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When Support becomes Resistance, and Resistance becomes SupportHey TradingViewers! How's it all going! I was planning my upcoming trades for this week and came across a great example of When Support becomes Resistance, and Resistance becomes Support! I'll explain why i place each of the levels, and why i place them where i do, why that's important and perhaps most importantly, how to trade it! So let's get to it. I've labelled each of the support, resistance and trend lines with a number starting 0, ending at 5. Let's begin with 0. I place line 0, simply put, where the price has not been able to push any higher. I place it above the price action, and extend right. This will be our top level resistance. Line 1 is our downward trend line. I start the line above Line 0 and draw it so that it crosses the tops of the rejected candles. I extend it down and to the right. The reason i place it across the tops of the rejected candles is because each time the price has hit this line, it's been rejected, which is a good sign you have a true resistance trend line. Line 2 is the first or our horizontal supports. i determine there is support here as price has moved significantly counter to the current trend . I begin the line near to the open or low of the candle, and extend right. Line 3 is the second of our horizontal supports, and you guessed it, it's been added because price has moved significantly counter to the current trend , and as line 2, I begin the line near to the open or low of the candle, and extend right. Line 4 is an interesting one, and something to take especial notice of. Line 4 is the first trend line which is uptrending. The reason this is important is that it could be a strong signal that a trend reversal is coming. I place the start of the line at the point, (that's right, you guessed again), where price has moved significantly counter to the current trend , and i extend right, connecting the higher lows. Line 5 is an extension of Line 3, and a great visual representation of resistance turning into support. But what are the circles? WHY ARE THERE CIRCLES? The circles are to identify (in multiple instances) where support has turned into resistance, as in Line 2 and Line 3, and resistance has turned into support, as in Line 5 and also the cross of lines 1 and 4. So i'm sure some of you are now asking: "Okay so i know how to place support, resistance and trend lines but how does that help me? Where's the profit in all of this?" Well I'm glad you asked and it's in a link in the Related Ideas below, called How to identify trades using Support and Resistance. Thank you all for your time, i hope that it's been helpful, For_The_Many
Education
by For_The_Many
7
How I Analyze Stocks Part 1 Hello followers! It has been an amazing year, I am grateful for tripling my following, being accurate on calls and puts a majority of the time and being able to interact with everyone. I have been receiving a lot of request for how I analyze stocks, how I read candles, and how I obtain different indicators. With this DIY analysis series I will explain exactly what I do when I make my analysis. These indicators help tremendously however nothing is guaranteed. Those who have been following long enough know I was right about TSLA dropping when the Odds were against it, but wrong about my ROKU short when the technicals supported it. Both are linked for reference. Alright, time to get right into this. This has been broken up into series due to the amount of explaining I will do as I want to be as transparent as possible and help everyone be as successful and profitable as possible. This will be listed step by step 1. The first thing I do when looking at a stock is looking at the candlestick view and I mostly use the 45min segment as I am a weekly options swing trader. The higher segments you use, the longer term you should expect the price movement and the shorter term you use will be for the shorter term such as day trading 2. The second thing I do is analyze the candles and look for trends or signals. For this example I am using NVDA and I see the latest 45min candle has a long bearish wick and a normal sized bull body. ( Candle anatomy can be learned in 10 min on youtube) Based on this bear wick I see that NVDA is set to trend down. But is that enough to bet on? Of course not, follow and check out the rest of the series to see exactly what I look for.
NASDAQ:NVDAEducation
by Myantman101
6
How to use Fibonacci correction levelsHello, Traders! Most of you have heard about Fibonacci Retracement, some of you saw it and some even tried to use it on their own charts. So today I am going to explain how to use this instrument correcly. Traders use the Fib Retracement tool in order to determine the nearest correction levels on the chart,. If your task is to find out the nearest correction levels of upward movement, the level of 1.0 Fib Retracement. should be at the beginning of the movement and the level of 0 Fib Retracement at the end of it. In simple words: if you are looking for upward motion correction, then 1.0 should be at the bottom and 0 at the top. If you are looking for a downward correction, then the opposite is 1.0 at the top (start of movement) and 0 at the bottom (end of the movement). There are three types of correction by Fibonacci levels : 1. Bullish to levels 0,236 and 0,382. 2. Normal correction to the levels 0.50 and 0.618. 3. Bearish correction to 0.786 and 0.860. When the movement is sharp, most often the correction will be minimal and will end at levels 0.236-0.382. When the movement is corrected for a longer time, the correction comes to the levels of 0.50-0.618. If the movement breaks down, the correction ends at levels 0.786-0.860. In other words, in order to continue upward movement, as in the current BAND chart, we will be interested in levels of at least 0.236-0.318 and 0.50-0.618. Near level 0.618, it is beneficial to catch the sharp impulses that occur due to the stops of market participants. If the price movement comes to the level 0.786-0.860, then most often it is already its conclusion and it is dangerous to buy at such levels. At the current bullish rally, the use of correctional Fibonacci levels will bring good results. Share your setups in the comments and I would help you understand if you used it correctly!
Education
by UnknownUnicorn10064030
3
How To Trade Channels?The above chart shows what is called a “channel” in trading. It is basically diagonal support and resistance (a.k.a Trend-lines). The area in between is known as a channel. The red zone is said to be the perfect entry area for sells whereas the green is for buys. How To Find The Zones? Using the “Parallel Lines” tool, draw the diagonal S/R then measure the first candle/wick that starts the channel and that area is where you would get entries with the least possible drawdown.
Education
by FXwithJess
1
Guide: How to post awesome ideas and get lots of likesGeneral guidelines: To publish awesome ideas and get lots of likes, the first step is for your publications to be visible to the public. This means you need to make sure that your ideas do not get “ hidden ” or “ unsuggested ” for violations of the house rules. What does hiding an idea mean and what could be the reasons ? TradingView moderators will hide ideas that violate the house rules, the most common cases are where authors provide links or references to their social media or websites, aiming at self-promotion. A hidden idea is no longer visible to the public, only to you and to TradingView moderators. Since the idea descriptions cannot be changed either by you or by the TradingView team, these ideas cannot be made visible again, which is a shame for the time you took to analyze and publish it, right? Please read the House Rules carefully to avoid this from happening. Why can your idea be unsuggested? TradingView aims at showing ideas that offer a good analysis on the chart and a good description. To achieve that, we “ unsuggest ” ideas that: Have a title or description in ALL CAPITALS Have very little or no analysis on the chart Lack description Are published in another language than the site it is published on An “ unsuggested ” idea will not appear on the homepage or in popular ideas streams, which limits its exposure. It will only be visible in newest idea streams, to users that visit your profile or who have the direct link to your publication. Let’s go over some examples of what makes a good idea publication. To make it more clear, we’ll also provide an idea that is not the best example for this category. Click any of the ideas to show more detail. All Analyses ► Balance: clear, no clutter, professional, not too overwhelming. Good: Needs improvement: Technical Analysis ► Include drawings that explain the idea. At least two analysis tools or two reasons, e.g., a support level and candlestick pattern, or a trend line and an indicator, etc. Use enough, but not too much! Good: Needs improvement: Trading Idea ► Include a specified bias on the idea and disclose if you are long or short. Make sure you let people know where the exit or entry point is on the trade and mention how long the trade could last. Good: Needs improvement: Fundamental Analysis & Market Commentary ► Provide the general trend and approximate price path based on sound reasoning. Good: Educational posts ► Detailed explanation of the method for technical, fundamental or macro analysis. Good: Inter-Market analysis ► This includes Overlay or Ratio analysis. Call for a directional move with adequate explanation. Good: Text Analysis ► Has to be useful and informative to the community. For example, educational material, a column or a personal experience. Good: Needs improvement: More specific suggestions for specific Technical Analysis types Harmonic patterns ► Price must have at least passed the B-point on its way from C to D. Or there must be other technical tools supporting the view. Use the TradingView built-in tools to show Fibonacci ratios. Useful link: www.harmonictrader.com Good: Needs improvement: Double tops ► Patterns that didn’t complete the second top and are heading to neckline shouldn’t qualify as a double top. Also true for double bottoms. Good: Needs improvement: Head and Shoulders ► Patterns that didn’t complete the right shoulder and are headed towards the neckline don't qualify. Also true for Inverse head and shoulders. Good: Needs improvement: Indicator-only analysis Needs improvement: Elliott Wave ► Should align to the rules that can be found on www.elliotwave.com . This is the most common and widely used source. Good - clear and with an actionable trade setup: Needs Improvement - cluttered: Following these guidelines not only will produce better, more actionable ideas for the TradingView audience, it also increases the chance of your idea to be selected for our Editors' Picks . We hope this guide was useful for you, let us know what you think in the comments below.
Editors' picks
Education
by TradingView
73
Learn the "Gann Fan" in just 3 StepsGann theory has been widely used in various fields of finance. To learn to apply the Gann angle line, two problems need to be solved, namely, point selection and volatility. The question about volatility is in the Gann angle line. This article will mainly talk about the problem of selecting points. The selection point of the Gann angle line is generally selected from the important top and bottom. When selecting, you can judge which point to choose based on your actual operating experience. But depending on the long-term trend, you can choose the Gann angle line starting from zero, which will play a very important role in future predictions. We took NASDAQ as an example. In the chart, We have learned how to apply the Gann fan to a chart or the trend. It's complicated, but I tried to make it easy to understand and easy to apply. I have used only 2 to 3 things to perfectly apply the Gann Fan. Gann fan is useful to all the traders, It can be applied to all the time frame. In the investment process, Many investors like to buy bottoms. This is everyone's ultimate pursuit. That's because every market has important tops and bottoms. Analysis of this position is to make your own funds safer, with minimal risks and greater profits. These will use the Gann angle line confluence position. The force formed at the intersection of the rising angle line and the falling angle line can often form a reversal trend. In " Financial Analysis Trends ", the grades are divided as follows: 1×1 intersects with 1×1 1×2 intersects with 2×1 1×3 intersects with 3×1 1×4 and 4×1 intersect 1×1 intersects with 1×2 or 2×1 1×1 intersects with 1×3 or 3×1 1×1 intersects with 1×4 or 4×1 1×2 intersects with 1×4 or 4×1 Above is the information about the Gann fan for education purposes only.
Editors' picks
CME_MINI:NQ1!Education
by forextidings
11
TIPS ON DRAWING TRENDLINESThere are always a few rules of thumb to keep in mind when drawing trend lines. 1. First and foremost, a trendline is exactly that, meaning it is a line used to identify a trend. A line that touches many points but doesn’t give you a good indicator of where the price is going isn’t useful. 2. Keep it simple, but not too simple. As tempting as it may seem, we really don’t need to draw four or five lines to get our point across. However, one trend line by itself is too simple, and only semi-useful. In most cases you will be able to find at least three or more different trend lines in the short, medium, and long-term. In the case I have too many lines drawn, I generally pick 2 or 3 that I feel are crucial and delete the rest. One trend line is acceptable in cases where you feel like the evidence lies in other indicators. These indicators can be relatively simple, such as moving averages or RSI, or semi-complex such as Fibonacci lines or MACD. Whatever the case, the idea is to make your chart helpful and useful (while also being clear and concise.) 3. A trend line should generally touch three or more points on the chart . Two is acceptable when there is a clear trend but sometimes the lows/highs get close to the line but don’t necessarily touch it. If you look for trend lines in the RSI too, it will most often be the case that there is a trend the trend lines can only connect two points without cutting through another line on the chart. As long as you get the point across, people will generally cut you some slack. 4. It is (sometimes) ok to have your drawn lines cut through the price movements. For example, I did this on the S&P chart to signify that the trend line that was previously a support line has become a resistance line whenever the S&P crosses it. After crossing it again, it has become a resistance line. This is helpful for multiple reasons. To consider a breakout from a trend line a true breakout, it needs to retest the line at least once. This goes for a broken support line and resistance line. This makes sense because last weeks highs often become this week’s support. Also, it helps to establish the long term nature of a trend line if the price has on multiple occasions touched the line, and on one or two occasions it has crossed it and retested it. Sometimes I will intentionally draw trend lines through candles if it looks like a break out. On the chart, the signs of a breakout are very quick, steep price movements and large jumps in volume following a volume contraction. If the stock crosses the line over and over again within a short time period, chances are it doesn’t make a good trend line. 5. Connect the trend line to as many points as possible. There is no reason to stop drawing a line once it touches 3 points. If it can clearly connect more points than 3 go ahead. The longer the line the better, because it is more credible as a long term trend. 6. Connect the highs with the highs and the lows with the lows. This Is how you form clear trends. However, as I mentioned previously, you might want to connect last week’s highs with this week’s lows. Feedback is appreciated.
SP:SPXEducation
by Isaiahgr3
🏋️ 10 STEPS HOW TO DRAW TREND LINE IN 5 MINUTES [WRX — WazirX]Hello, have you familiar with 10 steps technic how to draw trend line in 5 minutes?! — I am not 😅 But in this 7 min video I explained how to make Simple TA for any asset using TradingView basic tools to understand where it goes. In this video: 1. How to draw trend line 2. Descending Wedge (Falling Wedge) 3. WazirX WRXBTC coin analysis, entries and targets. Previous WRX analysis and HOW TO MAKE TA in 10 min: Have fun, enjoy your trading This is Artem Crypto
WEducation
by ArShevelev
10
How To Trade Extended Stocks? TJX & BJ 05/21 Case Study!Hi guys, today we'll touch once again on the topic of extended moves. Thursday gifted us with a picture-perfect comparison of 2 stocks gapping up. One worked flawlessly, second one didn't, however (guess in which I took my trade, d'uh...). Takeaways from the video: 1) You can't tell successful follow-through from the daily graph itself. You have to watch how it behaves thorough the day. Volume and behavior on key levels are the most important factors here. 2) You may want to risk less initially, adding along the way as long as the stock fulfills your criteria. Hope this helps you next time you see a nice gapper and possibly saves you some frustration! Tom | FINEIGHT
NYSE:BJEducation
by Fineight
Blox Will Also Move (How To Trade, General View)Patience is the key to success while trading, also having a plan before getting started... You can ask me, I learned the really hard way. Looks like Blox (CDTBTC) it's done consolidating since prices are already moving above EMA50 (magenta line). Since the first break of support in March, we have a wait of 70 days, for many people this is a very long time and they fail to wait, hoping to switch around and earn a fast buck. It turns out that once you move out of a trade out of greed/desperation, the next one takes longer and the one you just sold starts to grow. So think twice about how much you would wait before jumping in... What to do if prices go down? What to do if prices go up? We always use a stop-loss, average around 15%-35%, and set our sell orders on target before the prices start to move up. If prices drop we close the trade. If prices move up we collect profits as the orders filled up. I am just sharing my experience... Make sure to do your own research... And I wish you lots of success, health, wealth & love. Namaste.
CEducation
by AlanSantana
8
What should we do next with USDxHello Trader around the world, how about your last friday, did you trade? Last friday I've trade the USDCAD and AUDUSD currency For AUDUSD I Long and lost already But USDCAD still at the big resistance and I have short already and put a stop loss at 500pip I really want Monday to come fast as I can Today I want to sharing all of you learn about How the currency connect Sometime maybe someone Long and Short position in the same time with same currency It was no good Long EURUSD and also Long USDCAD is wrong But Long EURUSD and Short USDCAD is great Cause if we look at USDx or Dollar index And try to compare with any currency you will see something connect First you shoud know that USDx will move same with USDXXX currency and XXXUSD will move converse in the same time Example Now USDx move up USDCAD should move upward EURUSD should move downward For now about USDx you will see a price have break already so if the price will continue to move up Price should comback and rest at the old Resistance or new support If you see a price move downward to support Is mean that USDx move downward Is mean that USDXXX move downward too Is mean that XXXUSD will move up Did you get it? I hope that the things that I have learned around 3 years can help you and you will be a great trader if you can Trade is a lot of things you have to learn And we always have to update a strategy Is didn't mean you know something and you will rich from it You have learn a lot of things and use it at the right time, timing is so important Just it, that's all for today About how there r connect Sorry for my bad English Hope this week you will get a lot of money Goodluck
TVC:DXYEducation
by TeamothyTrade
TRADING IS NOT AS IT’S PORTRAYED ON SOCIAL MEDIA .. READ BELOWThe reason so many people are attracted to trading is because of how it is portrayed on social media. I’m not here to Bullsh#t you, I am only here to deliver pure facts and that is how YOU WILL LEARN. Firstly, the most us were attracted to trading because of how simple it seemed to actually make money, until we started trading and realised that it wasn’t that simple.. And this may be the stage you are currently at so let me clarify a few things that will hopefully help you in your trading journey. Your trading account is YOUR business, treat it like one it is not quick money! A business goes through stages of a life cycle, and these are the stages you must go through too before you figure it out: 1. Development / Seed stage 2. Start up 3. Growth / Survival stage – Your most crucial stage 4. Expansion / Rapid growth stage 5. Maturity stage 6. Decline – The moment you stop learning and think you have it figured it out, is the moment you will decline. Trading is process that may take you 1 year to master If you have the right mentor or even up to 5 years to master if you don’t. But it is a process, you will take losses through the process but that is necessary for success. You have to trust the process and FALL IN LOVE with it. If you are trading for the sole purpose of making money then you approach is wrong. I trade because it is my passion, it gives me the opportunity to figure out the ‘uncertainty’ and to empower others. The profits are the end result of obeying your trading rules/plan and obeying the unspoken rules of the market. KEY TAKEWAYS: 1. Trading is a PROCESS, stick with it, be consistent and it will pay off. 2. Find a mentor who has YOUR best interests before theirs. 3. Your trading account is your business, approach is as one. Businesses take years to reach the maturity level so make the same mental shift 4. Focus on the bigger picture, money is an end result. It happens after the fact, after you’ve taken and closed a trade. I will be doing analysis on GBPUSD, some potential big moves to come.. Follow us to get notified. Feel free to ask any questions below.
Education
by Malika_Analysis
HOW TO GRID TRADE: The Good, The Bad and The Ugly (Tutorial #5)HOW TO GRID TRADE: The Good, The Bad and The Ugly (Tutorial #5) DID YOU KNOW? The cryptocurrencies you’re holding right now could be generating passive income. Even if you have small holdings or limited capital THIS can become very profitable with a little known strategy called GRID TRADING. EXAMPLE: 11-DAY GRID TRADE EARNS 19.27% PROFIT EASY TO LEARN, LOW RISK & HIGH RETURNS? WHAT'S THE CATCH? If you have not read my previous tutorials on grid trading , I’ll summarize the concept quickly. Grid trading is a type of trading, typically managed by a BOT which sounds a lot more complicated than it is. In a nutshell, you select a range, you divide your range into equally spaced buy/sell grids (like trip wires, sorta) . And as price zigzags up and down, your “trip wires” trigger buys and sells - catching profits for you incrementally all along the way! If you are able to start your grid as the market ranges sideways (which is 70% of the time) or when it is in a gradual upward ranging trend (15% of the time) then you are going to make money most of the time. That leaves about 15% of the time when the market is ranging downwards (and even then, many times grid trading can still produce a profit) . Grid trading requires far less skill and less management than most other types of trading -PLUS- it has far less risk. Not to mention, most grid traders make better returns on their money with grid trading than they do with any other trading strategy. Can you lose money grid trading? YES, but with a little knowledge, losing money is hard! OK IT'S EASY PEASY, BUT HOW DO I DO THIS? You'll need a gird bot automation platform to manage this, but once you've got that... there are only a few parameters you must setup to get started with your grid bot trades. And if you start with a small investment, the learning process is rather fun. Once you get the hang of it, you can increase your investment. The sky is the limit. 1) GET YOUR GRID TRADING BOT (recommendations below) 2) PICK THE CRYPTOCURRENCY PAIR which you plan to trade. 3) SELECT YOUR RANGE. It's called your “trading channel” - and while this can vary depending on the crypto asset you select, it can also vary based on your trend bias and available capital. Just as a thumbnail guide, you might trade a top 10 cryptocurrency pair within a 4% to 8% trading channel, whereas a low cap coin pair might merit a 1% to 50%+ trading channel. 4) DETERMINE A GRID SPACING or GRID COUNT which basically divides your range into a series of buy and sell grid lines. As the price of an asset moves up or down within your range, the bot will execute trades. Each time the price moves up over a grid line the bot will execute a sell order. Each time it moves down over a grid line it executes a buy order. As long as the price stays within the upper and lower price limits that you have pre-set, you will profit from the zigzag of the market. 5) A STOP LOSS is optional and may not be needed at all, but it is a parameter you must think about and set, if you feel you need it. If you are trading a coin that you don’t mind holding, a stoploss is not needed. Advanced strategies can reduce almost all possibility of loss! NOTE: Trying to grid trading manually is near impossible. It is highly recommended you use a trading bot to carry out your grid trading strategy. NO BOTS ABOUT IT... Grid trading bots automate the process and maximize your potential profits. Your bot will automatically place buy and sell orders at pre-set price points you map out upfront. As you go along, your bot will replace grid line open orders as each previous grid level (line) is executed. You simply need to set your upper and lower price limits (your range) for your trading channel, decide how many grids you want, and how much of the asset you’ll invest in. Once your parameters are entered, your bot can be started and you can sit back and watch profits add up. For example, if you chose to trade BTC/USD, then you'll start by buying BTC and you'll simultaneously place limit sell orders along your grid. This is easy because your bot will automate the entire strategy. You can of course get very good at this type trading and make an impressive income however, at the most basic level, all you need to know to start Grid Trading today, is what you’ve just read, perhaps a few more tips from my other grid trading tutorials and if you're smart, you'll try grid trading indicators. Additional resources are found below. HOW DO I LEARN MORE? 1) Review my related IDEAS and TUTORIALS (linked below) 2) Explore GRID INDICATORS (linked Below) PLEASE HIT THE LIKE BUTTON (and follow me... just look below the chart at top... yes, up there where "Kilroy" is watching!) As always, I appreciate your support. Please share with others. ENJOY! Dan Hollings Master Crypto Grid Trader Please Explore My Other Indicators, Scripts, Grids and Educational Ideas. @ DanHollings on Tradingview.
OEducation
by DanHollings
7
HOW-TO GRID TRADE: How-to Find A Profitable Grid (Tutorial #4)HOW-TO GRID TRADE: How-to Find A Profitable Grid Using The "Grid Range Finder" Indicator. WHAT TO LOOK FOR... The best GRIDS are placed in sideways channels, consolidation areas, ranging markets and slowly upward trend areas. In seeking a place to start your next grid, you should seek out support areas, preferably during a sideways or upwardly trending time period. It's near impossible to predict how long this type market condition might last, but the ideal grid will run for 2 days+. Some grids can run for months! Did you miss my previous GRID TRADE tutorials? ( Start from the beginning ) ESTABLISH A RANGE Your next task is to determine a range depth for your grid (I suggest 4% to 8% as measured on the chart - though you may find other measurements better depending on the crypto you're trading, the average market volatility and your available capital) . This is why, when using the "GRID RANGE FINDER INDICATOR" you'll appreciate the "Auto-Fibonacci Lines" added to help in projecting how high or deep your range might go. In most cases, your range should span between either support and resistance or a nearby Fibonacci line. Once you've discovered your range "sweet spot" and a good starting point, "box out" a projected grid range that has logical support, resistance and fib parameters with a span (bottom to top) that does not spread your capital too thin nor expose you to too excessive risk. GRID YOUR RANGE In Tradingview, you can easy create a range box using the "Date and Price Range Drawing Tool" or the "Rectangle Drawing Tool." If you want to create actual grids in your range box, you can use the "Gann Box Drawing Tool" and play around with the settings if you are hard core. At the end of the day, this is only to give you a rough idea anyways. Your actual grid range area is automatically create in your Crypto Grid Trading Bot within minutes after setting up a few parameters (simple, simple) . So don't over do the time invested in drawing on your TV chart, keep it quick and simple. Find your range, put the parameters in your Bot and start making money! HELPFUL TOOLS THE GRID RANGE FINDER INDICATOR is ideal for traders pursuing this type GRID TRADING strategy. Yes, it's true that the trading process itself is typically automated, however the first and most important step for you, is to find a sideways, consolidating, ranging or slowly upward trending market. Review the other GRID TRADING tutorials I've published so that you can master this fascinating (and profitable) trading style. It's not that hard and it's well worth the effort. THE GRID RANGE FINDER INDICATOR will assist you in scouting-out market opportunities where a grid opportunity may be waiting. This indicator provides support and resistance lines for both long and short term price action, plus uniquely incorporates red and green COLORED trend tendencies in both the support and resistance lines, as well as in "Trend Dots" at the bottom of chart. TIPS FOR HOW TO USE THIS INDICATOR TO HELP FIND OPTIMAL GRID TRADING OPPORTUNITIES Use this indicator in combination with other indicators to fully maximize your results. First zoom out and determine the overall structure and phase the market is in (long term) . Remember, GRIDS perform best in sideways or slow upward ranging trends. Look for this. THERE ARE NUMEROUS WAYS TO USE THIS INDICATOR BELOW IS ONE WAY, TO GET YOU STARTED: The STEP NUMBERS below are illustrated on the charts above. 1. Watch for a major support point. 2. Followed by a higher minor support point. 3. Start grid during GREEN trend indication (as seen on indicator trend dots or trend support line) • If using Heikin Ashi candles (recommended) start grid on a GREEN candle 4. Map out your grid range of 4% to 8% using Support & Resistance lines and/or Auto-Fibonacci lines on chart. This is not a "SIGNAL" type indicator, it is a valuable tool (or aid) designed to assist you in conjunction with other indicators and market knowledge. Some grid traders use ONLY this one indicator, but you should evaluate the others I've created which may help you refine your grid start parameters and opportunities. For additional help there are details below. PLEASE HIT THE LIKE BUTTON (and follow me... lots of great stuff in the works!) As always, I appreciate your support. Please share with others. ENJOY! Dan Hollings Master Crypto Grid Trader Please Explore My Other Indicators, Scripts, Grids and Educational Ideas. @ DanHollings on Tradingview.
KRAKEN:BTCUSDEducation
by DanHollings
4
HOW-TO GRID TRADE: Show Me The Money (Tutorial #3)HOW-TO GRID TRADE: Show Me The Money (Tutorial #3). When I started this Grid Strategy Tutorial Series , I assumed readers would understand the profit potential straight away. I was wrong! Perhaps, because as I told my personal story and evolution into grid trading, I mentioned that I used grid trading for my "side money" (money I was not actively trading with other strategies). Yes, that's true. Initially, I just wanted an ROI on this otherwise dormant extra capital that was sitting at an exchange earning nothing. NOTE: If chart illustration above overlaps or is unreadable, there is a screenshot below. MY EPIPHANY It was when my passive "Grid Trading Side Project" started earning a better ROI than my hands-on active trading that I had my epiphany! No way was I going to give up on the other styles of trading I enjoyed, but when it comes to making money consistently and with far less risk... hands-down, it was grid trading I decided to master. A TUTORIAL SEGWAY I decided I'd throw some backtest results out so you could get a taste of what I'm talking about. Of course, the backtests posted here are in NO WAY predictive of what the market might deliver at your doorstep tomorrow, but I think you get the point. Many hundreds of real people have also shared there active results with me, so there is ample validation about the viability of this strategy. My personal results and those of others I coach are impressive, to say the least. However, we've lost money too, IT'S CRYPTO TRADING for crying out-loud. But like anything, you keep at it, you learn from others, you use indicators, you get better, you win some, you lose some, you master it and then... the winning results will exceed your losses. It doesn't take long at all. And YES, there's money in them there grids! MORE RESULTS... HOW TO I SEE MY POTENTIAL PROFIT? Want more current results? Want to test your favorite coins? DO IT NOW... You may test any cryptocurrency at any of your favorite exchanges and get instant backtest results by visiting a grid bot or automation platform. Backtests are simple, fast and impressive. THIS IS THE THIRD IN A SERIES OF GRID STRATEGY EDUCATIONAL TUTORIALS I hope this tutorial series helps increase your bottomline! HOW DO I LEARN MORE? 1) Review my related IDEAS and TUTORIALS (linked below) 2) Explore my GRID INDICATORS (linked Below) HOW DO I AUTOMATE MY GRID STRATEGY? Additional help and recommendations are at the bottom of this tutorial. PLEASE HIT THE LIKE BUTTON (and follow me... lots of great stuff in the works!) As always, I appreciate your support. Please share with others. ENJOY! Dan Hollings Master Crypto Grid Trader Please Explore My Other Indicators, Scripts, Grids and Educational Ideas. @ DanHollings on Tradingview.
COINBASE:ETHUSDEducation
by DanHollings
3
Day Trading - Only Strong Trend Days (Can also be used on HTF)Day Trading - Only Strong Trend Days (Can also be used on HTF) There are generally only 2-5 strong trend days a month. The majority of trading days are some form of trading range days, either within a range or a weak channel which reverses and forms a trading range. On strong trend days the market offers what most traders want - a high probability of a large reward, with a tolerable risk. Usually the risk feels greater (and often is) on a strong trend day because there is a sense of urgency, and the bars are often bigger than normal. On trading range days the bars tend to be smaller, offering what appears to be a lower reward, but there are many more failures and reversals. This makes it very difficult to identify a good setup, and even when there is one the market does not make it very far before there is an opposite reversal. This lures unsuspecting traders in, who continue fighting the market taking every trade or only the losers. This type of market is like a boa constrictor. The more you fight, the more you struggle, the tighter its grip and the harder it is to overcome the draw downs and emotional fatigue. Because these types of days are hard to trade and do not offer what I want (a good chance at a large reward), I choose to sit these days out. Instead, I wait for a strong trend day, and then continue to wait some more for a pullback and my edge. Does this mean I miss out on some good moves? Sure. But I do not care. I trade to win, not to trade for fun. It does not matter what I miss, it only matters what I take and the actions I make in the market. So how does a trader know if the day is a trading range day or likely to become a strong trend day and should be traded? In order to help guide you, here are some common characteristics of a trend day. "......" After the above has been identified - it is still better to wait for a pullback and an edge like a "......." This increases the likelihood of a good trade with a strong traders equation. It also helps decrease stress of prices going against the position as it often does when you just enter at the market or without an edge. Of course, waiting is not easy. Just like Tom Petty said "Waiting is the hardest part!" Does this mean you are less likely to lose? Usually, but not always. Even with trend trades fail, although less often. It is absolutely possible to lose money selling in a bear trend or vice versa. The key is to continue onward, and enter the next with trend trade if there is one. If not, or it also fails, prices are more than likely in a trading range and you just haven't yet realized it. If this is the case, it is often better to stop trading and wait for a strong trend day, rather than continuing to fight the market when it is not offering what you expected. **These ideas and strategies can also be applied to higher time frames and long term investing. "..." = withheld material from original post (members only material). If you found this helpful please like! Feel free to comment or ask questions
SP:SPXEducation
by tradersmentality
AUDUSD - How i traded it into the FED Rate and managed my risk.Hello All I thought i would post a video of how i completed my analysis and entered 6 trades in total for AUDUSD. All with different lot sizes dependant on approach and also how I managed my risk going into the FED news, and how with 6 trades triggering at different times (risking 1% of my capital for each trade) - I only had 3% at risk at anyone time which I have now reduced to just 1.5%. Thanks for your time in watching my video, i hope you find it interesting. Duncanforex.com is coming in the next 10 days. If you want to, you can go to the website now and register your interest and also be eligible to obtain discount vouchers for the training course once the site is live. Thanks Duncan
Education
by UnknownUnicorn483829
Supports and Resistances : Everything You Need to KnowSupports and resistances are horizontal lines on the edges (borders) of congestion areas. The bottom line is the support: the level where buyers strength overcome sellers, and buys are strong enough to reverse the downtrend. The top line is called the resistance: level where sellers strengh overcome buyers, and sells are strong enough to reverse the uptrend. It is more preferable to create your support and resistance lines along congestion area's borders than extreme price action, since these borders illustrate the point where most traders changed their mind, whereas the extremes are only reflecting a few people panicking. Psychology Traders remember at which price they bought or sold, and this is what create supports and resistances. Support and resistance zones often switch roles: when a support is broken it will become a resistance, and vice versa. This happens because as the market makes a breakout downwards, buyers feel pain and wait for a rally to free themselves without cost, whereas sellers regret and wait for a rally to have a second chance to short. The buyer's pain and seller's regret create the new resistance. A support or resistance is going to be more significant if the preciding price action was steep rather than a slow ascending or descending trend. Volumes Low volumes around a resistance or support area indicates its fragility. Traders aren't feeling quite involved in it. However huge volumes show strength in this level. Trading Rules 1. When you are surfing a trend that is reaching its support or resistance, move your protection stop closer. The trend will reveal its health at this point: it can either go faster and your stop isn't triggered or it can bounce on the Trend line and your stop securises your profits. 2. Supports and Resistances are stronger on a bigger timeframe. Weekly charts are stronger than daily charts. This way, if on the weekly the price is flat and on the daily the price action is hitting a support or resistance then the signal is less important than if price was reaching a support or resistance on the weekly. 3. Resistance and support levels are usefull to setup stoplosses and take-profits orders. If you are buying, the lowest value in a support area can be used as a stop if you place it just underneath. Breakouts A breakout happens when the price breaks out of its trading range, but most of breakouts are fake breakouts. Be careful of fakeouts : it is more often an opportunity to position against them, with a protection stop. "Fakeouts" or "fadeouts" are when the price tries to break a support or resistance but end up returning in its trading range. How to know when a breakout is fake or not? True breakouts are confirmed by high volumes and technical indicators showing new highs or new low. Also we should be able to see the new trend on a higher timeframe. Fake breakouts tend to happen on low volumes and indicators divergences. In order to trade fadeouts, wait for price action to stop making new highs or lows. This is when prices fade. Then, place your stop on the extreme, risk is low, but chances are that price will make a pullback in its congestion zone. You liked this article? Make sure to leave like or a comment :) --------------------------------------------------------------------------------------------------- My Website - Automated Strategies with Backtest and Alert Setup blockchainfiesta.com PineScript Development, Reverse Engineering Comissions open (1 slot)
Education
by cyatophilum
3