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POT - Pressure Cooker (..tnx Shane ;-) )This concept - not setup - stems from Shane Blankenship, my former mentor of MG. I use this analogy in many situations, where the market just pressing price, up or down. What's important here is, the release of the pressure. See that one wide range bar? This is "interesting", something important is going on here. Now, since every breakout trader is long, they (Market Maker for this one Stock) will most often try to scare them out by letting price fall back like cooled steam falling back from air to ground. Taking this analogy as a "CONCEPT" and not as a "setup", gives you the freedom to reapply it in many other situations and trades. (Thank you Shane, your the real Master...) P! ...and allways keep in mind - never ever ever risk big, because everything we think can fail.
PLong
by Tr8dingN3rd
12
USD/JPY 1 Hour Learning to identify good entry pointsI watched price stall at a resistance level ~102.586, unfortunately missed a move I was contemplating on trading down to a previous strong support level ~ 101.00. However, now that price is in this, what I think a very strong support zone, I'm going to wait and watch where price goes. There are 3 possible set ups I would look for, and all 3 are a bounce off a "minor" or "major" resistance level My plan is to wait and see: If support level holds up against price If it holds and price starts to pull back up I'd like to see it find resistance. Play the bounce off resistance with first target back at support ~101.00 unless price actually moves all the way back up to ~102.586 then I would move my target higher up This is my first publish chart, so any feedback/tips would be greatly appreciated. I am also a very novice trader, no financial background, self-educating and eager to master my analysis. If I'm identifying indicators badly or missing something like the "big picture" please point it out to me. Thanks in advance
Short
by psyd3fx
EURUSD Possible long term channel, 1st EW, feedback is welcomeThis is my first EW analysis. First I copied the upper channel resistance line and simply checked to see if I could find a near symmetrical lower support correlation. Coincidentally (C) has a near symmetrical match near where we are now. The lower support level of the channel ends at a measured move location: namely the (E)-(1) leg. This move would mean that the resistance which is met at (4) will most likely be exactly 1.13500 which means that price will overshoot at around August before returning into the channel. That is when things will get interesting for the bears. Riding the price down to 1.0800.
by UnknownUnicorn468659
Fibonacci Spirals #01To help better understand how to use Fibonacci Spirals when trading, I have decided to dedicate a topic about them. My quest here, is to consistently generate predictions using Fibonacci Spirals. I have only recently started to see a pattern and once I found it, I could somewhat consistently reproduce the same results, that is... visually. I could not however expand the indicator to predict, only to accept the past. What had already happened. Before we commence, there's one thing you should know about Fibonacci Spirals on TradingView.com (at least at the moment): they don't scale proportionally to the chart. It so seems there is a miscalculation which fire once you begin to scale the chart. For this reason I would suggest not scaling the chart when using this indicator. I have used Fibonacci Spirals to create V-shapes at the bottoms. Each Spiral is positioned from the lowest low to the past high or future high. From thereon all intersections that have been made in the far future with those spirals have been marked and given colours corresponding the spiral's colours. I shall elaborate in the near future.
by UnknownUnicorn468659
3
REVERSAL OR RETRACEMENT NOTE #01The question we might all have asked ourselves is: how do we recognize a reversal and how do we recognize a retracement? (I am a newbie, so please if you have anything valuable to add, by all means help me and other newbies out by sharing your knowledge about the subject.) The divergence shown in the indicators can often lead to confusing thoughts. Rule of thumb I have decided to stick to, has been a combination of the following conditions that have to be met. ]if I notice divergence on a larger timeframe (say 1H 4H or DAILY) then the chance of that divergence leading to a reversal is much higher than were the divergence spotted on a 30m/15m/5m chart. For that reason I do not try and detect reversals of the dominant trend on those charts. The minimum is 1H. This is all depends on your tradingstyle of course. I compare divergences that lead to retracements, to those that lead to reversals. If the divergence that has been spotted on the 1H or higher timeframe, is significantly wider compared to other divergences within that larger trend (that announced retracements), then the chance of it, announcing a reversal, is much higher. Also if the divergence that has been spotted on a larger timeframe has also begun to move close to or nearby a support and resistance level that had significance on one or two larger timeframes, then chances are the reversal is a fact. Thank you. Have a great weekend!
by UnknownUnicorn468659
1
USD/TRY D1 Perspective I had a request from a friend to analyze USD/TRY: On daily perspective I saw a nice classical Elliot Wave with double zigzag till point E correction waves. Before starting the analyze I want you to eliminate the harmonic pattern that I draw there; First we start with trends and the potential of opening trade. PA (Price Action) creates trend and trends give us opportunity to open a position trade by its steep. On S2 line we had 2 potential of Buy and why we do not Sell on R1.2 is because of its upward steep and we will never Sell on upward trend and never do amateurish scalping and we do not close our deal until either S2 breaks or we see a PA TP Signal which we had it on the top and Also a good Sell Signal at the same time. Remember as a good trader how we open Sell Position is not when ever we see double top just sell on it. Even though we have seen a bearish PA on the top we still should wait ti S 1.1 trend to break and then we can open Sell position with SL of above R 1 + Spread. Since price follows our expectation we will sell any time if price touches the R1.1 with SL of above it. (Remember you must first observe that does the price are going to touch and pull back or it will breaks the trend. You never Sell if your trend is broke out. You follow the price till you reach the Future Expected Price A (FEPA) and if price does not change direction; you will follow the same strategy till you reach FEPB. (If R 1.1 dose not break). Since we have S 2 Trend line seems to be stronger than R1.1 you also can expect an uptrend around that area. If we see S 2 Breaks R 1.1 we get ready to see a harmonic pattern in future. Our expected Patterns and Elliot are not our signal, it's just a map and idea that we can look at them some time. We trade based on your best friend (trend) and PA. Any time if the harmonic pattern is completed you can expect for a bullish movement. Remember you will close all the sell position if R 1.1 breaks and will not open any position till you reach on 1 safe trend. Hold is also an option. FEP are found by Orbits strategy that I have explained in many of my previous perspective. If you are new to it please read my previous analysis and if still you have problem with it feel free and email me at farsi.masoud@gmail.com
by mspdash
1
USDJPY: Rising Wedge Into Previous Structure (read description)I’m looking at a rising wedge type of pattern forming here on the USDJPY that is working it’s way toward a pretty significant level of structure (look left). We typically see a breakout to the downside with this type of setup as it represents the market losing steam after a high volume move. I’ll be looking for short opportunities on this pair in the Live Trading Room, but we might want to keep out eyes on the 8:15 ADP number as we are still looking at a very bullish dollar. This is my last active trading day for the week as I’m headed out of town but I didn want to leave you guys with a short video titled “How to Grow Your Trading Account” Here’s the link Here's the link to my youtube video "How To Grow Your Trading Account" here’s the link. www.youtube.com Hitting the LIKE button, leaving a comment and sharing on my youtube page would be a BIG HELP! -------------------------------------------- -------------------------------------------- Akil Stokes Chief Currency Analysis at Trade Empowered Click Here for 20+ hours of FREE Training tradeempowered.com Facebook: www.facebook.com Twitter: twitter.com
Short
by Akil_Stokes
35
continiuation trade after consolidating a breakout of the trendupdate : broke out of consolidation lets look for a .618 retracement for a long position --------------------------------------------------------------------------------------------------------------------------------- Good day to you traders, Just saw the 2nd breakout last night so i looked for a trading oppertunnity. I have been waiting for a consolidation above the trendline because, after a second breakout, i think this is a pretty good confirmation that the price will go higher after a very long down trend. IF the price breaks out ABOVE the consolidation THEN i think this is a pretty good oppertunity to long this pair. IF the price retraced .618 THEN i will long till previous structure @ 0.67410. Stop loss will be @ 0.66423 just under the consolidation. edit: RSI isnt overbought yet ------------------------------------------------------------------------------------------------------------------------------------------------------------- These are my trading plans its on your own risks to follow me.
Long
by TimBrent
2