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[Candlestick Patterns] Just need to know these three!#Candlestick #CandlePattern #Tocademy #Tutorial Hello traders from all over the world, this is HAMZA_ZDH=) I was unexpectedly surprised by many of you who liked and supported my last post about the basic concept of TA( Technical Analysis ). Today I prepared a brief lecture about the Candlestick Pattern, one of the most fundamental phenomenon and behaviors that traders must be well-informed. In fact, we should be very familiar with these textbook contents and interpret it in a glimpse on the technical chart unconsciously. Just like we don't pay direct attention about each breathes when breathing, like we don't care each and all of the alphabets when we speak, or like we don’t perceive location of each keyboards every moment as we type, this very technique should be performed automatically and quickly by observing dominant formations of candlestick bars. As a matter of fact, comprehending market trends and price actions only by referring to the candlesticks is yet too spurious. It should be used in such a way to weight on certain scenarios in a macroscopic view, rather than deriving precise and specific PRZ(Potential Reversal Zone)s and distinguish the accurate market trend. It’s never like ‘The price must go up because this pattern just appeared’. Furthermore, I strongly believe that the reliability of the candlestick pattern strategy is declining especially in recent financial market, where we encounter countless non-traditional and abnormal situations that were not very common in the past. Hence among the existing ‘Textbook’ candlestick pattern strategies that can easily be found on Google , there are particular patterns that are still very reliable on current market and there are ones that are not as reliable as it used to be. So here, I will organize everything very clearly for you guys.
BITSTAMP:BTCUSDEducation
by Mr_HaMza_
The freefall of Nasdaq during the NFP Data Release !!!Risking just 100 pips, we are targeting 300 pips as our profit target. The 100 pips is just to give this trade enough space for the spikes during the NFP data release but i'm quite certain that the spike won't hit our stop due to the space we've given it !. This is a 3:1 trade. Trade responsibly !. Use proper risk and money management before executing this trade !. Don't be greedy !. Confluences for the SELL trade: 1. Chart patterns 2. Price has been severly overbought. 3. There is a clear solid resistance at the overbought psychological level 4. Candlestick patterns signaling massive bearish presence 5. Even if price won't sell 1000 pips, it must at least pullback to our retracement levels, hence the Fib Retracement Tool. Final Confluence you need to wait for before opening any position: 1. Break of the trendline 2. Shooting star and a bearish candle that engulfs the shooting star 3. Confirmation of the NFP news release
FX:NAS100Short
by LaBOSS_FX
5
ETHUSD - 24 hour chart pattern study with notesI don't see how the rhythm is not detectable, but it is up to the masses to choose the path. i just think when they adopt something, it seems to be the algorithms used for trading that set the patterns and you see the ripple of that in all stocks and crypto. Even the successful social media pump and dumps use the same approach. Find the most common heuristic and manipulate it. it does however add to the survival of the fittest approach and the adoption of those survival techniques.
COINBASE:ETHUSD
by mindfree
2
FFIE: End of the Year PickMy last pick of the year is FFIE. I believe Faraday Future has been severely oversold. I also topped my account with more Nanox Imaging and Virgin Galactic. The pattern and trendline speaks for itself, and I think it is towards peak resistance levels w/ the tax write-off sales and end of the year activity. That said, everything you do is at your own risk. Do your own due diligence. This is on an opinion-basis and as-is basis, and not meant to be taken seriously.
FLong
by gamer456148
3
My Current Crypto WatchlistThis is my current crypto watchlist. BTC, ETH/WETH, and BNB are the standard cryptocurrencies most people know about. Some mid tier altcoins might be ETC, UNI, and ENS. Next might be CELO, and MINDS. Last might be AMP, OCEAN, and GLQ. I believe resistance have been high against all the cryptos on this list, except perhaps 0xBTC. Everything I say is on an opinion based basis. Please invest at your own risk. Any actions you do are at your own risk. Do your own due diligence.
GEMINI:AMPUSDLong
by gamer456148