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GBPUSD Trendline & S/R Break And RetestWe forecasted this scenario on GBPUSD last week and it is playing out exactly as planned. GBPUSD on the higher time frames (4H and above) is downtrending and is currently trading within a range. We have added a daily chart image and a zoomed out image of the 4H below this description. Price had recently broken out of the strong 1.26500 resistance level but rejected higher prices and broke back into the range. Price was in an uptrend towards the 1.26500 resistance level, but has now broken clean below, and is possibly forming a downtrend. Price is now retesting the uptrend line, which is in line with a S/R zone(blue box) and also the downtrend line, which would add more confluence to a short trade if we see a strong rejection of this area. We would like to see a strong rejection of the uptrend line and S/R zone with a bearish engulfing or pinbar on the 1H or 4H charts to confirm a bearish bias. Our 3+ reasons to enter a short position; -Break of uptrend line -Retest and rejection of uptrend line -Retest and rejection of S/R zone -Rejection of downtrend line -Strong bearish rejection candles on 1H/4H Follow us for more analysis and educational content
Short
by BlueFireForex
Trader's Guide to OptionsThe information in this guide is intended to get you started with your understanding of #options, the terminology, and their basic characteristics. In addition to this guide, it is recommended that you study all information available under the education section of your broker’s website. Most brokers who cater to options traders provide good information that will help you learn. What is an option? An option is a financial contract between a buyer and a seller. It is an agreement to buy or sell the underlying equity (stock or index) at a set price by a pre-determined date. Instead of buying the stock a trader could buy an option for a fraction of the price of the stock. Options have the following characteristics: Traded as contracts and each contract represents 100 shares of the underlying stock or index. Pre-set expiration dates. Standard monthly options expire the third Friday of each month. Some index options like TVC:RUT , TVC:SPX , and TVC:NDX cease trading on Thursday before the third Friday. Weekly options expire each Friday. Price points, referred to as the strike price, are the prices at which buyers and sellers trade option contracts. Options are, usually, available to trade in standard price increments of $5 and $10. Quotes to buy or sell an option are presented as the bid and ask. When selling an option, the bid price is used. When buying an option, the ask price is used. Sell the bid / Buy the ask. Delta is the change in the value of an option relative to each $1.00 change in the value of the underlying stock. If an option has a Delta value of .45, it will change in value by 45 cents for each $1.00 change in the value of the stock. - NASDAQ:GOOG is trading at 1445. -The 1445 call strike has a Delta of .50 -GOOG goes down $10 -The 1445 call will decline in value by $5.00 = ( $10 * .50) The Options Chain: All option information for any stock or index is listed on an options chain. The options chain can be found on the website of the broker you use to trade. The chain will list all available strikes and expirations, the Delta, and the bid and ask prices. It will also display both Call and Put options. Ways to trade Options: There are four actions that could possibly be taken when trading options: 1. Buy To Open (BTO) - buying an option as part of opening a new position. 2. Sell To Open (STO) - selling an option as part of opening a new position. 3. Buy To Close (BTC) - buying back an option that was originally sold to open 4. Sell To Close (STC) - selling an option that was originally bought to open When a position is Bought-To-Open, it is referred to as a long position . When a position is Sold-To-Open, it is referred to as a short position . When a position is Bought-To-Open, it is done for a debit . When a position is Sold-To-Open, it is done for a credit . Are you new to options trading? Stay tuned for Part 2 of Trader's Guide to Options which will include teaching about call and put options. <- Direct link to chart image.
NASDAQ:GOOGEducation
by NewCycleTrading
EURGBP Break And Retest Forecast Playing OutEURGBP has broken above the strong .9000 whole number resistance level and is coming back to retest this level. Price overall on the daily chart is trading within a large range. We have added a daily chart image at the bottom of this description. Inside this larger range, price is respecting levels of support and resistance and therefore has been trading within smaller ranges. Price had tested the .9000 resistance level many times recently, and last week had successfully broken above due to negative GBP data. On the 4H and below, price has lost bullish momentum and is looking like it will fall back to the resistance turned support for either a retest and continuation or a break back inside the range. An uptrend could also be forming and the retest zone is in line with the uptrend line, a rejection of both the uptrend line and the S/R zone would add more confluence to a bullish trade. We want to see price fall back the the .9000 S/R level and rejected this area with a strong bullish engulfing or pin bar on the 1H or 4H charts to confirm continued upside momentum. Our 3+ reasons to take this trade -Break and retest of strong whole number S/R level -Strong bullish rejection candles (engulfing/pinbar) at S/R level -Rejection of uptrend line Follow us for more analysis and educational content
Long
by BlueFireForex
GBPUSD Possible Lower High/Downtrend RejectionGBPUSD overall is in a downtrend on the higher time frames (4H and above). We have added a Daily chart image with notes below this text. Price is currently trading within a range (red lines) and has recently failed to successfully break out of the top of the range. Price is in a small uptrend and close to touching the up trend line for a possible rejection and bullish continuation, or a break below. We have marked two high probability scenario's with arrows on the chart. Bullish scenario; -Price tests uptrend and/or support level -The up trend is in line with a support level (blue line) which would add confluence to a buy if we get a strong sign of rejection on the 1H or 4H charts, ideally a large bullish engulfing or pin bar followed by strong bullish momentum -Targeting the HTF downtrend line/next resistance (red line above downtrend line) and possibly further Bearish scenario; -Price breaks below the uptrend line and support level -Price retests the support level and/or uptrend line and rejects this area with strong bearish momentum candles -Targeting the bottom of the range We have a bullish bias on this pair, due to the break of the top of the range, we expect price to attempt to form a new lower high towards the HTF downtrend line but we always make sure to forecast many possible scenario's. Follow us for more analysis and educational content!
Long
by BlueFireForex
NZDUSD Double Top Rejecting HTF Downtrend LineNZDUSD on the higher timeframes is in a clear downtrend Price has recently rejected the HTF downtrend line with a double top (reversal pattern), visible on the 4h and below. Price then broke below the neckline but has respected an up trend line and is now retesting the neckline of the double top, which usually happens before a double top becomes successful. Currently price has strongly rejected the neckline, with a pin bar like candle on the 4H closing on the neckline, and now a large bearish candle on the 4H showing strong bearish momentum. Our 3+ reasons to take this trade -HTF downtrend line rejection -4H Double top -Neckline break and retest -Multiple 4H reversal candle confirmation on the retest -Break of uptrend line Follow us for more analysis and educational content
Short
by BlueFireForex
EURGBP Break And Retest | Two Scenario's EURGBP is trading within a large range on the higher timeframes and is currently trading within smaller ranges on the lower timeframes. This is EURGBP on the daily Earlier this year price strongly rejected higher prices at the top of the higher time frame range, so we can expect price may fall to the bottom of the range in future. Price on the 1H chart has been testing the strong .9000 resistance level. Currently price has strongly rejected this .9000 resistance with a bearish pinbar and strong bearish momentum afterwards. We have marked two scenario's on the chart, and currently it looks like the bearish scenario is playing out. Follow us for more free analysis.
Short
by BlueFireForex
NZDCAD 1H Bearish Pinbar At ResistanceNZDCAD on the 1H has formed a bearish pinbar signal near the very strong 0.8800 resistance level. Price on the lower time frames has formed a symmetrical triangle, and has strongly rejected the top of it with the pinbar. On the daily chart we can see price overall is downtrending and is heading up likely to attempt to test the higher time frame downtrend line to form a lower high after making a lower low earlier this year. However as price is testing the strong 0.8800 level resistance and currently is failing to break above, we can assume that price may have reached its peak around this level and look for shorts from here. We are aware price can continue further up from here and we can lose this trade (like with any other trade), but it would be better to take a high probability trade in this area and lose than to miss out on the opportunity due to fear of losing and for it to reach or surpass targets. We will be targeting at least the .8600 level for this pair.
Short
by BlueFireForex
EURJPY Daily Downtrend Break OutEURJPY broke out of a higher timeframe downtrend last week. Price also broke out of two strong resistance areas with the EUR strength we have seen for the past few weeks. We can see two possible scenarios; 1.Price falls to retest the strong support/resistance (red line) and continues with strong bullish momentum 2.Price breaks back into the downtrend creating a "fake out" and bearish momentum forms with EUR pairs Our bias for EURJPY is currently bullish as a result of the current strength in EUR pairs. To change this bias we would need to see price break back into the downtrend.
Long
by BlueFireForex
GBPUSD Possible Triple TopGBPUSD is in a range. Price is currently in a strong uptrend, heading towards the top of the range. Looking back on the charts, price has strongly rejected the resistance at the top of the range multiple times before, meaning this is a strong level. We would like to see price reach the resistance and reject with strong bearish momentum in the form of either 4H or 1H bearish engulfing candles, or pinbars. We are also aware of the up trending strength in this pair currently, and realise price can continue pass this level.
Short
by BlueFireForex
1
EURUSD Possible Break And Retest EURUSD has just impulsively broken above a strong level of resistance, marked with the red line. We forecasted this possible trade idea last week. Price is moving in a strong up trend on the 1H and 4H charts. We are now looking for price to retest the resistance now turned support, and/or one of the up-trend lines marked on the chart. We would like to see price ideally retest the S/R zone in line with an uptrend line, adding more confluence to a long position. This would be confirmed with a strong bullish engulfing/pinbar candle formation on the 4H or 1H time frames We are also aware this can be a fake out, and price can reject higher prices and fall back below the S/R area and back into the range, targeting the lows. Thats why we always wait for confirmation and confluence when trading.
Long
by BlueFireForex
1
NZDCAD Head & Shoulders Forecast Playing OutWe forecasted this NZDCAD head and shoulders last week. Our position is now running at over 4.15% with over 2.5% locked in with our stop loss. Now risk free with guaranteed profit. With experience analysing and trading in the live markets we were able to forecast the right shoulder far before it was confirmed, due to the nature that price was rejected the previous highs of the left shoulder. This was a very high probability trade due to all the confluence factors in line with eachother; 1.Multiple rejections of strong resistance level (red line above price) 2. Rising wedge break and retest 3. Head and Shoulders pattern 4.Right shoulder failing over and over to break the highs of the left shoulder 5. Bearish engulfing on the 1H time frame 6.Strong bearish momentum on the 4H time frame. This was our entry point, with a stop loss above the right shoulder highs, and a target at the bottom of the range, but trailing our stop loss according to our BlueFire Strategy as price develops safe levels. We were able to enter at the break of a minor 1H resistance at the top of the right shoulder, which is a part of our strategy.
Short
by BlueFireForex
WHAT TOPICS WOULD YOU LIKE ME TO COVER?Hi Guys - all my followers and non followers.. I am getting back to releasing weekly episode/episodes of the ' Art of trading Psychology' in the aim of helping traders get in the 'zone' when trading. Mastering trading psychology is by far one of the hardest aspects in trading yet it is also the one that will drive you to you success as a trader if mastered. I would truly love to cater this podcast to you guys and in order to do so, i need to understand what it is you're struggling with and what you would like to cover i.e - finding taking profit hard? - being consistent - scared to take a trade or uneasy when you're in a trade? - Losing too much? Anything you think of, drop it in the comments below or message me!!
Education
by Malika_Analysis
Is Bitcoin Going UP or DOWN Today? Plan for both!Using Line Charts for Clarity Today I wanted to share how you can use line charts for clarity. When checking my work, I often switch to line charts to validate my own thoughts. Today I was analyzing BTC and trying to determine direction from here on the 1HR chart. After I mapped out my thoughts, I switched over the line chart to validate. Why do I do this? To keep it clean. A clean chart is an easy chart and if you can see what you are trading, your chance of success is much higher. I recommend using both line charts and candlesticks to validate one another. We have 2 scenarios playing out for BTC on the 1HR today. Potential LONG: Waiting to break above and close above resistance at 9390 Entry - 9400 Take Profit - 9950 Stop Loss - 9120 R:R - 1:2 Potential SHORT: Waiting for 2 things to happen: 1 - Break down and out of trend line 2 - Break down and close below support at 9140 Entry - 9130 Take Profit - 8570 Stop Loss - 9420 R:R - 1:2.06 Where do you think BTC is going today? Comment below. All trading ideas are my own. Do your own research before entering any trade and manage your risk! This is not financial advice. You do you. Happy Trading!
BITSTAMP:BTCUSD
by glennleese
5
Bitcoin - Oil and viruses don't mixLast week we were taken out of the trade by our stop losses, on my last post we talked about that if BTC dipped down to $8500 it needed to dip down quickly and move back up quicker otherwise momentum would be lost, we even had an $8200 buy order. What went wrong? We did have a dip down but it was very slow and the recovery was very slow as well and unconvincing. Combine these factors and you get a big red flag. Another warning signal was when price failed to go over the 50MA on the daily chart after trying for a couple of days. You have to take warnings like this seriously and accept when your trade has gone sideways. The very first warning signal was given by the 20MA on the daily chart last month on the 26th. What I want you all to understand is that price is not just going to melt down out thin air on you, warnings and red flags begin to pile up giving you enough time to make choices. Even if price is going up you'll know when things are about to go south. Last week Friday, the signals went out that this trade had come to an end, just a day later price started to drop. On the weekly chart, you can see we have melted below the trendline if we close or stay below this line we will see a further drop. WHATS NEXT? As mentioned before now we begin to map out where to jump in again. As I did previously, the point is to catch it on key entry places on its way down until you nail the lowest safest entry point. This means you have to be patient and disciplined. Right now there are 3 places that we will talk about later. There is also one scenario that will create a perfect set up for alts which I've been looking forward to for a couple of years. If price continues to melt it will create the perfect conditions for this scenario to play out. WHAT'S CAUSING THIS PRICE DROP Market instability caused by two major events (Oil prices and the virus), BTC and consequently crypto, in general, were part of the Sunday sell-off. Oil dropped by an amazing amount (30%.) We also have a long week ahead in which we have to keep an eye on the Dow and Nasdaq to see if institutional money moves to safety some more. I would bet this is going to be a volatile week. The United States is completely unprepared and has no plan for the Coronavirus, this will create more market instability leading to bigger sell-offs. If the WHO declares COVID-19 a pandemic it will create more instability. VERY IMPORTANT: Hitting the "Like" button is like a tip, please don't forget to do so after reading, this is your way of thanking me for my time and so I thank you for yours.
by cryptoGats
82
ONTUSD o.O1) It looks like ONT is holding support very well and a possible new trend line (Bottom yellow line) is forming off of this dip. ------ If stop losses are set around .65 (7%) the possible gains are up to around $1 (40%ish) which I would suggest of course to take gains on the way up. I like to take gains around whole numbers because its easier to remember the numbers. ------ All bets are off if it drops below the yellow resistance. 2) The top yellow resistance line is made from 7/23/18 to the second point on 6/24/19 down to the recent high on 2/10/20 on the weekly chart. (11mths,9mths,4mths?) ------- To me this is showing that the yellow support and resistance lines are forming a bull flag. These lines should intersect around 4/20/20 (lol 420) that is pretty soon given the last high was 8-9 months ago. 3) The top blue dotted line is made from the high on 2/15/20 and the high on 2/24/20, coincidentally on 3/2/20. (on the daily chart) ------- Now we are trading above the blue line :) ------- I think that this blue line is a very good indicator in our favor. ------- It also seems that the price is following the line possibly down to the yellow or blue resistances then spike up? 4) The bottom blue dotted line was made on the daily chart starting on 1/24 then the next point was on 2/27. ------- I don't have much to say about this line other than its useful to use on the shorter time frame lol. 5) This resistance also makes sense because we are close to the previous low around the end of Jan. ------- This is becoming a bull market ever since 2020 and I don't really see this losing steam any time soon. For the part of the market that is like me (Bulls) we really want to see the price have a low above the previous low. This even makes some bears become bulls because the trend will be very strong at that point. 6) Purple box is the a strong "support and resistance" on the monthly/weekly chart. 7) BTC has a VERY similiar situation with MUCH more volume. ONT has usually followed BTC and I think that trend is so set in stone at this point something major would have to happen for that trend to break. ------- Follow BTC if you want to trade this coin. If I got you thought that click bait thing was funny like/follow/share/subscribe ;) Okay now that that's all done if you have any questions, need clarification, have a comment, or want charting/analysis advice please let me know. Feel free to DM me and we can trade ideas, I love hearing others thoughts and learning new ideas or teaching new ideas to people. So uhhh please like/follow/share/subscribe ;)
BINANCE:ONTUSDLong
by Stonks_Up
1