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A Guide To The Fundamentals Of Support And Resistance TradingHere's my definitive guide on how to place your take profit, entry positions and stop loss orders when you are trading using support and resistance patterns. Many people have reached out to me asking to provide more details on where to place the orders exactly. In this guide I will share my experience, and show what I learned during my trading journey to be the most effective. Again, this is my personal view and the way I personally trade. If you have another view on this, I encourage you to share it in the comments. The reason all of us are on Tradingview is to learn. A trader would be quickly out of the market, if they don't continuously keep learning. Please challenge my explanation, ask questions, and share your own vision. Without further ado, here is the explanation for each of the orders: Take Profit. Many people will be looking at the resistance areas. As soon as the price comes close to this area, it will find friction and will struggle to go higher. Make sure you place your take profit limit order directly below the area of resistance, to stay ahead of the curve. This will maximize the chances of your take profit to get hit, even when the price prematurely bounces off the resistance area. Entry Position. Similarly to the logic of the take profit, you would want to place the limit buy slightly above the horizontal support. The closer you get to this zone of support, the more bulls will start to fight back and try to push the price back up again. Keep in mind, if you spot a support and resistance trade set-up, you don't necessarily have to immediately enter the trade. You can place a limit buy on the price where the pattern you spot would be validated. Stop Loss. Everything about a trade goes along with the assumption that the pattern you found is true. You should use a stop loss to make sure you exit the trade immediately after your pattern gets invalidated. For a support and resistance set up, this translates to the price breaking through the support. Follow me for consistent high quality updates, with clear explanations and charts. Please like this post to support me. - Trading Guru -------------------------------------------------------------- Disclaimer! This post does not provide financial advice. It is for educational purposes only! About the links below: 20% Discount on Binance: Did you know that Binance introduced a new system where you can get 20% discount on your fees? Find the step-by-step guide on how to add it to your account on the website of 100eyes Forex & Crypto Scanner: Nobody can keep track of all the pairs on all timeframes. This scanner works on Telegram and sends an automated message including a chart every time something happens to a coin. E.g. it can automatically detect areas of support and resistance, RSI Divergences, Fib Retracements, and more. Further reading on BTC:
Education
by Trading-Guru
6
EurJpy bearish divergence, sell approaching set up .Eurjpy looks to be in an ideal sell set up looking at divergence, resistance zone plus trend line we can hope that it drops to tp 1 and 2 indicated by the green dotted line. This also fits in nicely with our chfjpy sell that we have active. And just to touch on that be patient guys its normal for this to happen possibly a sl hunt by the bigger players, we just need to be patient. But be sure to stick to your risk management as that is the most important. Today is my Bday so im going out, hope yall have a wonderful day. Dev.
Short
by Dev5777
4
Real Price vs Heikin Ashi PriceHi! This is just a quick study for my own curiosity. It maps out the real world closing price vs the Heikin Ashi closing price. I think I'll make the indicator a mainstay of my trading charts, as it's useful to see. It also makes manual backtesting more viable. Some interesting observations: Long-term average difference between real world closing and HA closing ranges from 1 - 4 pips. There are intermittent spikes of up to 10 - 12 pips. These happen fairly infrequently (depending on the time frame being viewed). On average, HA prices are closer than I thought to real world prices. I would have expected an average greater than 1 - 4 pips. Spikes in difference often signify important points. Primarily they seem to signify new or continued trend activity in the relevant direction, but sometimes they can indicate tops or bottoms. Could be interesting to try and build a strategy around it. I'm not sure if I'll publish the Real Price indicator (it's literally just a few lines of code), but let me know if you want a copy of it. Cheers, DreamsDefined
Education
by DreamsDefined
3
Part 3 - The Markets.. Know what market you are trading in!!What is trend? Trend is the direction in which the market moves. An upward trend consist out of higher highs and an downward trend with lower lows. * Upward trend * Downward trend This is called the sideway market, which also is called trading range: This is an neutral trinagle, where we see lower highs and higher lows. At this markets it is better to wait what the market will do. Every time the price drop, buyers are gettin earlier in, but the sellers are also selling earlier. Upward Triangle, There are more buyers joining the market. This one is the downward market. The lower lows are staying equal, the highs are gettin lower. At this time people are waiting for the right time to buy. We see here a false move. When u think the market will turn on, it makes a false move and getting lower. This one is called the broadening market. The highs will become higher and the lows lower. A broadening market says that there is a lot of uncertainity. This is an market with high risks. This will be seen a lot at the ending of upward markets.
COINBASE:BTCUSDEducation
by NLTR_crypto
1
BTC – Signs Of The BullRight up front, a disclaimer: This analysis is for educational purposes. It IS NOT a prediction of price curves. It’s meant to be a scenario in which signs of a bull run could be identified. As always, make investment decisions based on your own due diligence. CHART LEGEND Blue = Bullish price cycles Green = Transition out of or into a bull market Yellow = HOLD, No Man’s Land (or, after a bull run, GTFO!) Orange = Transition into or out of a bear market INTRO This is one approach on how to look for signs of an upcoming bull run, while still in a bear market. There are many signs that a bull run is near. However, there are NO signs this bull run will last very long. So, as always, stay on your toes. IF (this is a big “if”) this is the beginning of the end of the bear market, the following signs should be expected: ==1== The peak of a possible double curve The price closes AND HOLDS above the previous bear price cycle. Having it hold a few days is key. If it jumps up, then falls right back down, that’s not a sign. That’s wish fulfillment. But, as you can see, we’ve held at this price long enough to possibly form our first double curve in quite some time. ==2== A definitive bounce After falling to complete the first double curve, the price bounces back up, it does NOT hold there. If it holds, be wary. If this bounce occurs below the start of the first double curve, that’s fine but it should occur above the trough. This is an indication the bulls are showing some strength. ==3== The bear’s last stand This is where the last of the struggling investors are shed from the market. IF this is the beginning of the end, look for the low point to land somewhere between $6k and $5k. ==4== The bull is at the gate The main thing to look for is A. the bottom is at—or above—the trough of the initial double curve and B. the top is at—or above the peak of the same double curve. ==FINAL SIGN== Confirmation The final sign is then, of course, the obvious bull price cycle as indicated in blue. In which case you’ll be in an excellent position, having bought at signs #3 & #4. …Party time. NOTES Notice how the signs make a dip? This dip, when confirmed, will be identified by many analysts, after the fact, and used to predict the bull run that's already under way. Should this actually play out as described, congratulations. You can then thumb your nose at them and laugh all the way to the bank. (I don't recommend this b/c, whenever you're right about the market, it's only a matter of time before you're wrong again!) It’s possible these dotted double curves could be shifted down to the $2950 mark. This is possible for two reasons: 1. a bull trap and a transition to a legit bull market are often indistinguishable and 2. dropping to the $3k mark would complete the classic cycles of a bubble, where the 3rd sign lands in the “despair” phase. Should these signs actually play out in this scenario, I’ll keep this chart up to date.
BITFINEX:BTCUSD
by stiltsmccoy
An EASY and EXACT guide to make 37 % profit on EOS! IF... To whom it may concern! This will not be a cocky or arrogant D4rkEnergY writing to my beloved followers out there. It will be a humble and down to earth-kinda guy. The Royal Highness, Henrik (Henry) the Prince Consort of Denmark, died some days ago and was buried earlier today in Copenhagen. D4rkEnergY is not a royalist, but it is always a beautiful thing to remember the deceased. We are here taking a look at the 1D EOSUSD Chart. First of all we can see that we have completed a beautiful Elliot Wave Cycle (1-5 and the ABC-Correction). We are still in a downtrend (the black line), but is seems that we already have made our first new Elliot Wave (1) and it's retracement (2). When that is said, we are NOT going to buy a position at this moment. This is way to dangerous. Even though we might not be far away from breaking out from the downtrend, we are still in a zone of confluence resistance. We need to break out and up to 10,64 USD before we can make a long position. At that time we are also above the EMA20 and EMA50 with the EMA100 and EMA200 way under us. This should be a perfect opportunity for us to ride on Elliot Wave 3 up and up to 14,62 USD and make our self a 37 % profit! Remember to put a stop loss. D4rkEnergY will suggest 8,81 USD which give us a Risk/Reward-ratio on 2.17. RIP R.H. Henrik The Prince Consort of Denmark! Kind Regards DarkEnergY <3
BITFINEX:EOSUSDLong
by D4rkEnergY
6