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Forex-gold

Morning Star Pattern: how to trade?🌟 ❗️The Morning Star pattern is a market reversal pattern consisting of three candlesticks that indicate bullish superiority. This pattern warns us about the weakness of the ongoing downtrend, which, in turn, suggests the beginning of an uptrend. ⚠️Traders observe the formation of the "Morning Star" pattern on the price chart, and then confirm with the help of other technical tools on the Forex currency market. ✅Morning Star pattern: Three forming candles ⏺Big Bearish Candle ⏺A small bullish or bearish candle ⏺Big Bullish Candle The most important thing to remember is always that the market must be in a downtrend in order to trade according to the "Morning Star" pattern. In order to confirm the downtrend, mark the lowest lows and the lowest highs. 1️⃣The big bearish candle is the first part of the Morning Star reversal pattern. This candle indicates that the bears are in full control of the market, which means that sellers continue to pressure the market. At the moment, you should only look for sale deals, since there are no signs of a reversal yet. Here the Morning Star pattern is just beginning its formation. 2️⃣A small bullish/bearish candle is the second candle that starts with a bearish gap down. This candle indicates that sellers are unable to lower the price, despite very great efforts. The price action ends with the formation of a rather small bullish/bearish candle (Doji candle). If this candle is bullish, then we have an early sign of a trend reversal. 3️⃣A large bullish candle is the third candle that has the greatest significance, because here the real pressure of buyers is manifested. If the candle starts with a break, and buyers can push prices up by closing the candle even above the first red candle, this is a clear sign of a trend reversal. ✅Morning star: how to trade this pattern on Forex? As we already know, the Morning Star pattern is a reversal pattern. As a rule, it indicates that bulls are capturing the trend, and bears are losing control. Most beginners trade using the "Morning Star" pattern on their own, without using technical tools, or at least tips from more professional traders. We do not recommend doing this — it is not as reliable as it may seem. Always connect this pattern with other reliable indicators, support and resistance levels, as well as trend lines. So, in this strategy, we combined the Morning Star pattern with volume. Volume plays an important role in the formation of the model. If the first red candle shows a low volume, then this is a good sign for us. Then, if the second candle is green and the volume is growing, this indicates buyer pressure. After all, the volume of the third long green candle should be high. The large volume of the last candle indicates the confirmation of the upcoming trend and the entrances to purchase transactions. If the third bullish candle has a low volume, do not pay attention to the fact that the Morning Star is forming. This volume does not indicate a bullish reversal. To sum up: do you observe the closing of the third candle with a large volume? Open buy positions and move along with the uptrend until there are signs of a reversal. ✅Morning Star pattern: entry, take profit and stop loss We have to open a deal when the next green candle closes. There are many ways to lock in profits. We can close a position in any resistance zone or supply-demand zone. In this deal, we hold our positions because we have opened a deal since the beginning of a new trend. You can also close your positions when the price approaches a significant resistance level on the higher timeframe. ⚠️Combining this pattern with volumes makes trading more reliable. Therefore, you need to place a stop loss just below the second candle. ❤️ Please, support our work with like & comment! ❤️
BITSTAMP:BTCUSDEducation
by UnitedSignals
10
Dollar Pops. How to Trade Using Support-Resistance LinesBull market in the Dollar stared on July 13, 2021. This clearly visible on the chart and requires very little explanation. How do we take advantage of this? Simply looking at the support-resistance lines is helpful. When the stock closes above the Blue line, we go long. In this case, dollar as popped almost 12% since the initial alert was issued. Avoid listening to the news and look at the chart instead! --- How to understand price action. It is very easy to read price action if you have a reference point. These support/resistance lines are there to help you read where the buyers and sellers are likely to make a stand. You can also think of these indicators as moving pivot points . MasterChartsTrading Price Action Indicators show good price levels to enter or exit a trade. The Blue indicator line serves as a Bullish Trend setter. If your instrument closes above the Blue line, we think about going Long (buying). For commodities and Forex, when your trading instrument closes below the Red line, we think about Shorting (selling). For Stocks, I prefer to use the Yellow line as my Bearish Trend setter (on Daily charts ). A stock has to close below the Yellow line first, then rally towards the Red line and top out there. This is where I would short it.
TVC:DXYEducation
by mastercharts
XAUUSD Outlook (21 April 2022)Look for value positions in Gold. As gold is typically a hedging tool against inflation, when the cost of living increases, the value of gold should increase. However, since 18th April, price of XAU/USD has dropped from recent resistance of 2000, with price currently at 1951. This is inspite of global inflation data climbing to significant highs (US inflation is at 8.5%) If XAU/USD retraces further towards the 1934 support level, look for longer term buying opportunities.
OANDA:XAUUSDLong
by JinDao_Tai
DAILY GOLD ANALYSISAccording to Wall Street traders, they have reached their profit ******** And the Asian news that came out and the increase in interest rates could be the end of the gold climb ******** We are now in area 50 of Fibonacci who can approve the correction ********* And according to Elliott waves, we have entered phase 8 of the wave ******* My views are technical, if the United States wants to change the trend, it means there will be price manipulation. ******* Every market needs supply and demand. Now we have witnessed recklessness in gold trading. ******** Thank you for being with me so far
OANDA:XAUUSDShort
by ALIREZATR60
2
TS ❕ USDCHF: fall containmentThe support level does a good job and does not allow the price to fall lower. We can expect growth from this level to the resistance 0.94310. BUY scenario: One should wait for another closing of the price at the level of 0.93645, or one can aggressively enter from the current ones. ----------------------------------------------------------------------------- Remember, there is no place for luck in trading - only strategy! Thanks for the likes and comments.
Long
by UnknownUnicorn15614419
1
Do you know where the money sits?All too often new retail traders are suckered into brokers with large sign up bonuses. These are often referred to as "B" book brokers whereby 9 times out of 10 your money never even hits the real market. They know 90% of people lose 90% of their accounts in 90 days. It doesn't stop there, you either have an influencer who doesn't even trade a live account, giving you analysis - or you are educated on some system or strategy that revolves around retail mentality. Understanding money-flow can put you on the front foot. So first of all; Buy and sell side liquidity are areas of price in which buy stops and or sell stops are mostly residing. If you can understand the higher time frame perspectives and see where the "money" is. This can also be knows as Supply & Demand levels. (visual below) Back in January 2021; I was showing why these liquidity levels where likely to be used for the re-accumulation phase. This was highlighting the bias to collect liquidity and move on up to unchartered territory. With a little knowledge of the bias (using Elliott Wave) you could see it was likely accumulation and it's targets up into new levels price had not been before. You had a pullback level into the "auction" area - thus to pick up it's last round of liquidity before the explosive move up. This was the level in February 2021. And what does it do? Combining the two, would give a bias, a pullback level. That plus the extension levels would give a clear target for a move up. This can be seen here on the left for the 3 weekly in Elliott terms and the first distribution (Wyckoff schematic) but over simplified, this is where the money is sat (orders above) and stops below. This giving a pullback target. As you can see it only followed the money flow; Once you get a handle on the money levels - you can start to build a plan around it. Price will seek the liquidity in order to either reverse or continue in within it's expansion move. Step forward into the 4 of the weekly Elliott wave count, which would equate to a type of re-accumulation on the larger scale. In August we saw the move up and it's pullback into the smaller liquidity level. This is here - So as you can see, it's only following money flow. This follows a very simple pattern which consists of 3 phases; 1) Contraction 2) Expansion 3) Profit taking. If you see price as reversing at the buy or sell side of liquidity, then you trade the developed price action, if you see price continue to move through the buy or sell side liquidity, then you stick to the order flow of price and trade the buy or sell side that it is, towards the next price objectives. So at this point here; we had tagged a Fibonacci extension level. We have orders and stops above, we move up again to make a slightly newer high - in essence trapping traders into the wrong side of the trade. Once you see both sides of liquidity - the next challenge is to simply develop a bias. For me EW is useful, not to trade every swing, but to know where on the roadmap we are. You can then define more objective price targets for pullbacks, entries or exits. I hope you can start to see how this fits together? In September I posted this move from the accumulation as to how we could see the liquidity levels above, add the extensions and you now know where we where heading. Using the EW logic as well - it painted the Elliott Weekly 5 (as in the August image) which had liquidity levels in neon lights. From there liquidity wanted to gather and drop. Whilst influencers where calling for $100k, 135, 275, 300k. ZERO logic supporting their arguments. So what did we do? So we go seeking liquidity and then the drop. Now you can use this information for the next move - we know we where going from Distribution (weekly 5 EW) down to a new accumulation. Clearly the larger institutional players where selling into the retail who assumed it was going to moon. (wholesale selling at a premium to retail) keep this in mind. Once you got your bias and you know where the money sits, it's pretty obvious to trade these moves up and down. So from here you can look for the contraction levels, this will give a good feel for where the money sits. You have a bias. And now you have the logic for the next moves. Here's a question for you.... Enjoy the rest of the weekend! ======================================================================= Here's the largest educational post you will find on @TradingView in a single post (click on image) ----------------------------------------------------------------------------------------------------- Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
COINBASE:BTCUSD
by Mayfair_Ventures
17