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Global liquidity TRUMPS price actionA week ago I had a little exchange with someone on Reddit who was claiming that Bitcoin would be shooting up. The analysis was purely technical, using pitchforks and trends, and I was surprised by their level of conviction in the prediction. Here's a snippet of my response: I find it interesting when I see trade ideas based on price movement. Market structures can tell you where certain levels are, but it doesn't tell you much about the propensity of a move until it's well underway, no? This is the point I'm repeating to others while I drill it into my own head. In the rock, paper, scissors game of trading, liquidity beats technical analysis. TA can give you the shape of the river, but it does not tell you how much water is flowing through it. Last week, I pointed out that even though we had an overall bullish flow signal, that a the countertrend dip signal should be heeded. Countertrend dips and bounces turn into liquidity trend changes if they persist. When those show up, it's a time to start taking profits. If it is indeed a short-term move, then TA and subsequently Flow will point this out, at which point leaning into the overall trend makes sense. While the last move was waiting for the countertrend dip to play out (or short it down to the seasonal current ), now the trade is waiting to see what is happening with liquidity. A green bounce suggests a run up to $35K, while a red ebb might call for a fall to $22.5K.
BITSTAMP:BTCUSD
by sacredprofit
USD/CAD LONG AND SHORT SETUP AFTER NEWSOn USDCAD, we have a neutral - bearish setup today. The price has been bouncing off a support level for hours. At the moment, however, it has not yet confirmed a long entry. Therefore, there are two hypothetical scenarios. The market provides confirmation on M15 and H1 at the level of 1.3170 after the US data, or the price drops below the support level towards 1.3090. Let me know what you think. Greetings and happy trading to everyone from Nicola, CEO of Forex48 Trading Academy.
Short
by Forex48_TradingAcademy
4
How to avoid the loss of funds in the transaction?Regardless of experience, every trader needs a plan. The key factors that can help the transaction become safer, they are the necessary strategic minimum requirements to ensure stable income and avoid unpredictable losses. Why Do Traders Fail? Let's take a look at the top reasons why traders lose money: Trading is a complex process. Trading strategies require discipline and precision. Even with the best ideas, some traders can forget to act systematically. Traders can be reckless. They give up doing market analysis, don't bother with stop loss orders, and forget about the rules of risk management. These all lead to mistakes and bad deals. So how to avoid the loss of funds in the transaction? 1 Don't build positions with huge volume If you are unsure of market movements, focus on at most one or two trades in a session. In the case of a small order volume, it is more controllable to track and find out various opportunities. Please note that some factors, such as slippage (the difference between the expected price of the order and the actual execution price of the order), are unsolvable and cannot be considered in advance before the transaction is opened). 2Using Stop Loss and Take Profit To reduce the risk of losing your money, you can use a stop loss order. They protect you from losing more money than you can afford. As for take profit, the principle is similar -- it will automatically close the order when the price target is reached, thereby locking in the profit. Therefore, taking profit will help you get out of the market immediately when the market price is right, so as to maximize your profits. 3Use reasonable leverage By setting a wider and reasonable stop loss, smaller leverage will allow each trade to have more breathing room, thereby avoiding higher capital losses. High leverage will blow up your trading account faster when the market trend goes against your expectations, because a larger lot size will make you face higher losses. 4. Pay attention to important news The market can change its trend at any time due to news or even rumors. Staying informed is key. All traders need to follow up all kinds of news throughout the trading hours. Let's say you realize that a news release will affect the direction of your position, but you're not sure which direction it will be. In such cases, you should provide maximum protection for the position you open (set stop loss, take profit, and in extreme cases, close the position before the release of the expected news). 5 Don’t Trade During Low Liquidity Hours You need to be aware that illiquid trading instruments tend to have wider bid-ask spreads, higher volatility and, thus, higher risk for the trader. Therefore, trading in a cycle with little liquidity will face the possibility of high capital losses. 6 View multiple metrics It is best to make your long/short decision based on several technical indicators. Indicators and other tools in technical analysis need to corroborate each other. Combine two or three different types of indicators. Your trading strategy can also rely on candlestick and trend chart patterns, as well as the use of golden section tools. In this way, the system will provide you with signals with a high probability of success. If you use such a strategy, combined with a stop loss and the correct risk/reward ratio, then you can avoid losing money in your trades. 7 Control Your Emotions The most successful trading comes from confidence and calm. Your fear of losing money, or your desire to make money with your trading instruments in the precarious state of big news, can get in the way. Make sure you keep your emotions in check and use tools like stop loss and take profit orders to make objective trading decisions. If it helps you, please like and follow.
FOREXCOM:XAUUSDEducation
by Gina-lovestotrade
$MLCO should show signal for the future longNASDAQ:MLCO achieved or almost achieved a bottom. As per my observation and conclusions, it can go long, but firstly it should raise the flag, that it's ready to proceed wit hthis deal. What we have to see? Movinng to 19 during the next 3-4 months. This will mean, that it broke the descending line and has a fat for the next jumps. I believe, it will show a good rally, but since we have a deals with a pieces of probability, we need to get more signals from it. In that way, this will became a perfect investing for the long term. Does not constitute a recommendation #investing #stocks #idea #forecast #furoreggs
NASDAQ:MLCOLong
by furoreggs
Momentum gaining traction after Monthly Close 🚀The final week of June was spent consolidating as some Buyers took profit and Short Sellers have attempted to force price down. After the Monthly candle closed on Saturday, we can see it as the beginning for a new ascent. Since then price has climbed 2.35% at the time of writing and reached a high of 3%. Weekly timeframe : There is no Supply AKA Resistance level on the weekly timeframe up to $47K. As long as the Weekly timeframe holds above $30,328 Weekly Support Level, we can look for higher prices. Daily timeframe : Our remaining pit stops for a bullish ascent will be a fight to close above $31,352 Daily resistance and $31,787 Daily resistance. After that there will likely be liquidity above structural wick highs at $32,373. I would not be surprised if BTC wanted a retest at $30,715 Daily S/R Zone once more before a further ascent. It used this price level as a resistance for the entirety of last week and it will likley act as a support moving forward.
COINBASE:BTCUSDLong
by ShrewdCatfx
EURJPY | Will likely continue going upHey Traders! I believe EURJPY will continue going up due to the following: - Recent bullish engulfing candlestick on 4h with MA bounce. - Although it's near the psychological level 158, we are likely to re-test it because it's forming recent higher highs. - The pair managed to pass 157.00 level which was a previous strong pivot level - COT Data is in favour for this trade - PMI for the US came out negative, which should influence EUR power after a slight pullback from JPY due to being a safe haven. Good Luck!
Long
by FX-TradingLions
1
Momentum from last week ↘️ // Eurusd what's cooking? 👨‍🍳We have a fair share of news events this week to shake things up. These news events will be a catlayst for a coniuation of momentum or the cause for a reversal in the short term here. Now the Monthly candle is closing at the end of this week and we must keep in mind that it is closing bullish. I don't anticipate this weekly candle to drop 222 pips but it's not impossible. The Weekly candle from last week closed bearish rejecting Daily Resistance Zone 1.098 and Weekly resistance zone 1.1024. The top wick rejection was larger than the body of the candle denoting a good amount of sell pressure on Eurusd. The Friday daily candle closed bearish taking out all the lows from earlier in the week. Ideally for this week we would like to see the previous weekly candle's bottom wick (Approximately 48 pips ) be filled with momentum carried over from the prior week. 1.09160 is a Daily and 4hr S/R Level and may act as an area for price to distribute and take us to lower prices. If price gets a close above there we have clean traffic back up to 1.09564 4hr resistance zone. Otherwise if price can get a solid candle close below 1.08845 4hr Support zone then we have a nice 30 pip clean traffic range to decrease back to the low of last week at 1.0848 4hr Zone. Downside target for week is 1.081 4Hr Support zone If wrong, then expecting a range and possible eventual increase back to highs at 1.09875 Daily Resistance Zone.
Short
by ShrewdCatfx
The Cat Eye's a Retrace ? 😾 Or Dump CityOften times I can observe a retrace with London Session. Just as price did yesterday. My thoughts are a potential retrace to 1.09149 4Hr reiestance zone and some consolidation before another bout of Sell Side pressure. Price made leaps and bounds of progress to the downside during the last 2 sessions. I do not think the market is random. Nor am I trying to call a bottom. I am simply analyzing the behavior of this market as I have observed it for quite some time. Price is in close proximity to a Daily Support Level 1.08915 (6 pips away ) We have News tomorrow during NY session which I believe can be a catalyst to pullback a bit more before Inflation data during Friday NY may help provide a continuation of the preceding 1hr trend at that point. Towards the beginning of the week we were calling out a retrace to 1.0847. Idea was to do a Weekly Wick Fill as price was thought to have bearish momentum coming out of last week after a Bearish candle was printed ( With a larger top wick when compared to the body of the candle) We may see this scenario play out and we would like to see a break and retest after prices closes below 1.08820 on either the 1hr/4hr. Otherwise I observe a pullback for the time being.
Long
by ShrewdCatfx
2
💭 Daily Tf Key Level plays Important Role ( 1.0918 )This week 1.0918 Daily Support/Resistance Zone will likely play an important role in the direction of this week's price behavior. This was a Major Support during last week's price action may very well act as a resistance level for the new week's price action. The new weekly candle gapped up but at the end of New York trading we can observe a hold of 1.0918 Daily S/R Zone. We are currently in a tight range to begin the week between this mentioned level and the 4hr support zone 1.0886. If Sellers fail to hold below 1.09180 then entry upon break and retest above it with targets at 1.0958 4hr Zone and the previous week's high at daily resistance zone 1.0986. Otherwise with Sells here we may continue to anticpate momentum to return to the downside. Our weekly target for sells remains at 1.081. More Analysis : Started off the week taking Sells from our Daily S/R Zone 1.0918 . Earned +.5% on the account about after commissions. It turned out to be the high of the day. Being pro-active with your trading plays an important role in profitability. Trade where it is most uncomfortable and you will likely see your results improve. Not Financial advice this has been and will always be education.
Short
by ShrewdCatfx
A Volatile Climax in PricePrice did a break and retest above our 1.0918 Daily S/R Zone during Asian trading today and has increased 58 pips since then. The Daily candle reached within 9 pips of the 1.0986 Daily resistance zone formed last week. This return back to the topside of what looks to be a range forming now. Top of the range being 1.0986 Daily resistance zone and 1.08908 Daily support Zone. The NY 4hr candle dipped back to around 1.094 Weekly resistance level where it found support. 1.09435 is also a 1Hr support Zone that was created with the New York session 1Hr candle. 2 4 Hour candles have closed above 1.0957 4hr Zone. Maybe I'm just trading what I think but I prefer selling at these prices. My thoughts are that we are towards to the topside of what could now be a range as previously mentioned on the 4hr timeframe .
Short
by ShrewdCatfx
Eurusd Shaking out Weak hands?Trading is not complicated once you have a good understanding of whatever your technical approach is to the markets. After that good understanding is achieved you will have reasonable expectations about where price can go and will rarely be surprised. However, trading can become difficult when you throw trading psychology in the mix. Positive trading psychology is the sum of your mindset, discipline, and patience. This is why it's the most fragile and significant portion of your bottom line. Listening to the great traders and reading about their stories it's often mentioned as the most important piece of the puzzle when it comes to long term & consistent returns. It requires inner reflection and a good amount of attention from time to time. I have run into one of these occasions as I have strayed from my bread and butter. I have nonetheless created a rule on my trading plan to save me from any future occasions.
Short
by ShrewdCatfx
📺 Exhaustion through Weekly candle closeWe can observe a 25% pump after price created a Lower Low on the Daily timeframe at $25,128 ( 9 Days ago). The latter half of June has been quite exciting for Bulls. I suppose in March price did a 35% pump in 6 days. Anything can happen as we have seen in the past. Last time price was at this area it distriubted for a week before correcting 11% in 6 Days. 1Hr & 4Hr market structure has turned bearish and this current daily candle has not seen much upside. There has been a change of character since the blowoff +3.77% 1Hr candle printed during Friday's New York trading session. Bulls want the weekly candle to close above 30,329 in 28 hours. This would confirm very strong bullish pressure since we would close above medium term market structure highs created in April. I'm looking at a retracement to the most recent Daily support level at $29,901 through the end of this weekly candle. Looking for the weekly candle to create a larger top wick and pullback to the downside.
COINBASE:BTCUSDShort
by ShrewdCatfx
Risk/Reward Bitcoin Setup ⛲Risk/Reward is the name of the game. In my scalping this morning I've taken 10 trades. I have gone on a losing streak of 10 trades in a row. After reading the books I've become aware that this is not unsual for a profitable system in the markets. I like the analogy of pulling marbles out of a hat. If you have an edge in the market then over the long term the marbles you pull out of the Hat will net you a positive R. However, in the short term you may pull out 10 marbles consecutively that do not net you anything. This is where trust in your experience and system will serve us as traders for a long time to come. Technicals : Price has arrived at our monhtly supply zone 29,305$. Price is up 9ish percent over 2 days. The Market is not random and I'm aware of that. 8 4hr candles in a row is not common and that is a fact. Combining these confluences..
COINBASE:BTCUSDShort
by ShrewdCatfx
This is Forex.. (Timing is Key) Correction with London 📻 Currently Sitting at 4Hr Supply Zone ( 1.09945 ) Looking for lower prices as price has touched into a 4hr Supply zone and we have an upcoming london session. What we may observe is a quick spike then a hard retreat back down to 1.098 or even 1.0945 ( Both of which are daily S/R Levels) . You can observe this behavior on Eurusd from last week. I will include a snapshot. A Brief description being as price was creating Higher Highs and Higher Lows on the daily timeframe EU was stairstepping it's way up by doing a retest at Daily S/R Zones. The wednesday Daily candle did a retest at 1.07817 Daily S/R Zone/. The Thursday daily candle did a retest at the 1.08126 Daily S/R Level. It's a recurring theme and is something we may anticipate as price continues to makes it's ascent. You may trade the pullback to the downside or wait for better Risk/Reward Long price areas. More attractive long prices area's being the 1.098 and 1.0945 Daily S/R Zones previously mentioned. Sometimes it's more about understanding the psychology of market participants and using this to your advantage. Price is High as we approach the 2nd to last london session of the week. But with london we will expect more volume and why not a pullback with this volume. We are sitting at a supply zone anyways. There is alot of liquitiy in forex and so you will not see insane 10% increases in 2 days like you can observe in crypto.
Short
by ShrewdCatfx
Impending Volatility ☕ / EurusdThe Weekly candle has touched into 1.1012, only 12 pips from our weekly resistance level 1.1024. On the daily timeframe we can observe a bearish candle Shooting star rejection candle is forming and price is currently below our 1.098 Daily S/R Zone. On the 4Hr timeframe we can observe price having issues with the 1.0995 4Hr Supply zone. The 2nd London 4hr candle has just closed bearish with a top wick twice the size of the body. The new 4hr candle thus far has confirmed our bearish thoughts as it has pushed down 14 pips in the first 15 minutes. 1Hr Timeframe : Price retreated during asian session pre-london towards our Daily S/R Level 1.098 which I capitalized on. We then rejected 1.098 S/R Zone upon initial retest as I forecasted in my prev publishing. We ran the highs from asian session and price made it's way a bit higher before pulling back hard for New York session open. We can observe clean traffic going back down 1.0956 and this is what I'm looking for to play out with sell stops .
Short
by ShrewdCatfx
6