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NKE - Nike & the home of forkerEvery mountain has it's valleys. Besides you now know exactly where I live, here is something to learn. Kowing that markets swing, is not enough. You have to see it and you have to draw it. When you draw pictures, there are many things that pop up, which would not have bevor. If you know, that most "Mountain Bases" getting "filled", then you have one peace to the puzzle that others don't have. So use it - not to trade immediately, but to observe, hunt, build your plan and sniper your booty. And always remember: You better don't hunt a Grizzly (huge pendulum swing trade) with a airgun (small account). When you want to eat such a big monster, then you better take grandpa's double whammmmmmy! (...saying this and crawling my cuddly cat.) Live is good, be happy. P!
NYSE:NKEEducation
by Tr8dingN3rd
3
USDNOK - Search, ask and you will find...I had not clue about this chart. So, I was laying back, squeezed my eyes and let it shine on me (...nope, not smoked anything hehe...). Then it comes together, peace by peace. Here's how I approach any new analysis. - Swings & Pivots - Identify the trend and the flow - some support & resistance - action/reaction & forks - patterns...as far as I can see them (...because I'm a really bad pattern trader) - fractals - anything else (...letting creativity flow) During this process, I delete the whole paintings a couple times. So this is like Zen to me and hell, I really love what I do §8-) Let's see if YOU can make something out of this. Please do me this little favor and let me know if you go long or short. P!
Education
by Tr8dingN3rd
6
Went Short on EURGBP and made some PredictionsWent short at 0.86539 (382 Retracement Level) with a stop-loss at 0.87616 and a profit target at 0.83023 (Current Support Level). Then I made some Prediction on market movement and future entries. Red Arrows are Short Positions Green Arrows are Long Positions Blue arrows are stop-loss areas and Observation areas before making entries. Mainly using Technical analysis using Price action and market movements,Support and resistance levels and Fibonacci Retracements to mark my levels of Entry,Stop-loss and Profit Targets
Short
by HillDo100
USDCAD LOSE 44 pipsH4:MACD Bearish crossover: 1. PA < 5 pips (candle stick): Strong+1 2. Double confirm: Ichimoku Bullish (WEAK-2) 3. D1 Bullish: Weak-1 4. Crossover at .0008: Strong+1 5. Crossover sign changed: Strong+1 MEDIUM H4:Bullish crossover Strength relative to cloud: 1. Price action above: Weak-1 2. Chikou span above: Weak-1 3. Crossover within: Mid WEAK-2 SHORT: 1.3482 SL: 1.3526 (44 pips) TP: 1.3435 (47 pips) LOSE 44 pips Note: Price went up 10pips more than the SL and reversed 140pips in favour of our prediction. SL gap too small was unfortunate.
Short
by drewmmu
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