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4 COMMON YET EFFECTIVE TRADE ENTRIESHappy Chewsday, traders! Some of you reached out and asked for more educational articles and we’re here to deliver. Relatively simple but important topic of entries is going to be lightly covered today. The image above should be pretty self-explanatory, but to cover it in more details: There are 4 main entry types. - Range fadde is when we buy the bottoms and sell the tops of the range. Usually the box/rectangle isn’t large, so the risk-reward ratio is just not there for many traders. However, you can definitely put the stop loss a few pips out of the range and maximize the ratio. - Reversal is an entry at the most recent extreme, key level. Quite popular approach, but personally, it usually goes against our fight club rule #1: “never fight the trend, he’s your friend”. We do; however, look out for multi-day/week key levels in our ideas as well. - Breakout is an entry as the price breaks out of a range or any pattern. Very reliable option for beginners that are obsessed with finding repetitive reoccurrences in the market. For example, you can sell at the neckline of head and shoulders pattern and successfully profit from that. It is important to keep in mind that, the more complicated patterns you “notice”, the less people use them, thus, devaluing the importance of it. - Pullback is an entry after a minor reversal or retest. Statistically speaking, this is one of the most frequent entries utilized by us. It’s simple and you still follow the trend. Draw your key points, look for proper Fibonacci levels and make sure it’s not a complete trend reversal. Of course, you’ll miss out on a few pips this way, but this might change your long-term profit statement. What’s your favorite entry type?
BITSTAMP:BTCUSDEducation
by Investroy
14
Entry on EURUSD today! We wanted to see price reaching our zone on EURUSD but it looks like right now there's not enough buying pressure. This is the reason why we don't take trades towards the zone and against the trend but just wait for the right moment instead. It looks like this moment is now. Not the way we wanted it, but we trade what we see and we're now looking to sell from current price levels. Stops will be above 1,0615 and we should use less risk on this trade because this SL level is still aggressive. A SL above 1,0780 is much better but then we don't have a decent risk to reward ratio. Targets are still below the previous low, we are expecting a breakout!
Short
by ForexTrendline
5
SOL TARGET "SUPPORT" LEVELS...What's a reasonable point to start accumulating SOL? .... I'm asking because really I have no idea. First of all, I think it's way too early to be accumulating anything other than BTC and ETH. I feel like SOL has one of the stronger communities, lots of Devs building on it, etc, but the damn chain keeps going down... that's not supposed to happen in a bear market when there's barely any volume compared to bull times. Could just be "growing pains" yada yada... I get it. But still, with more bad news than good, in these conditions, it's hard for me to feel bullish about it. Or maybe I'm falling for the FUD, I don't know. Since I have zero alpha on SOL, I'll just use technicals: I feel like $22 is the last line of defense with strong previous support. If we lose that, I'll be looking at $12. I'm not sure how strong that support really is, but since I know some traders will be eagerly awaiting sub $10 entries, the market may frontrun and disappoint them. If we lose $10, we're in mega bear territory. I dread to think what the rest of the market will look like, but in that scenario, I think $4 would be a reasonable level to enter and will probably pay off big time within a couple years. What do you think?
by cryptodonovan
Aggressive buys on EURUSD Yesterday we saw price reacting to 1,0678 which could be the bottom on the H1 trend. This is also a chance to enter aggressively right now with stops below 1,0678. It's considered aggressive only because price could reach the stop loss and this won't mean the trend has reversed, therefore price can then continue in the same direction. However, we're looking for a good risk to reward ratio with low risk. The targets will be at least 1,0860 and once the move begins we will be able to find out the specific levels as well. If you are more conservative trader, we recommend to skip this one and focus on something else to trade!
Long
by ForexTrendline
15