Nushares / Bitcoin confirmed trend reversal pattern.I marked morning start pattern on the weekly chart. Pair couldn't go down below 0.00000010 for last 18 days. We have seen huge spike of price during this week. It seems to me that it is just a begging of the new trend and price in future will touch 0.00000100 mark. I wouldn't put big money on it no more than 5% percent. I think that TP area is pretty safe around .000000060 level. SL at 0.00000009
Morning
What we're watching on S&P this morningFurther downside likely:
Price is fading and losing momentum on the higher lows these last two days. Support at 2345 looks stressed. 2360 is key resistance and is establishing a downward trend - definitely watch how price behaves on a rally 2353.
Key notes on the chart.
EURCHF Long - Right nowGo long on this very good bullish reversal candlestick pattern with confirming price action at a support area.
This is the turning point for EURCHF.
Get ready for a big move up.
Stop goes underneath the doji candlestick OR the brexit low.
[AUDUSD] PIN BAR CANDLESTICK + AREA OF RESISTANCEFX:AUDUSD
In this trade we can see a nice preceding bullish trend heading towards an area of resistance, next we see a nice pin bar candlestick which tells us that the bullish power might be transitioning to the bears. Confirmation is needed for me, so i executed a breakout entry below the low of the pin bar candlestick or also called Indecision Candle.
Trading Details:
Time Frame: 12hr
Entry: Below the low of the indecision candle (Pin Bar)
Stop loss: A few pips above the high of the Indecision Candle
Risk/Reward: 2:1
Account Risk: 2%
HOW TO TRADE A SESSION START?What to expect before Major Session kicks in (Session start)
This is probably the most common type of trading - "Start session breakout"
But, as you can see, what also is very common - whipsaws are so common, and due to lack of money management, the beginning of the session can be very disturbing, and it also can be the end of trading for a current day or even end of trading career for some. It all happens because of over expectation and lack of understanding of what to expect.
Ok so 3 major things to know before the session opens, (I would consider GB and US opening and European closure)
Where the price is relatively to levels.
Are there any news coming out within 1 - 1,5 hours
What is a trend direction?
Normally when big markets are opening, it gives the impulse to price movements.
The exception is when the news are coming out right after the market opening, in this case the volume will flood the market during or after the news. So nothing special will happen with the market.
Breakout entry - is something what traders are mostly interested in, as the easiest approAch that can give some good returns, but if the price is in a tight range, here's what traders must know:
in 90% of situations, thee most volume will be on the opposite side of the breakout, meaning that stops on the opposite side will be triggered first, before the price will break towards the original direction.
The price position in a relation to trend will help to deicide the direction of the set up.
Always think from both sides, and remember, that if You had a bn to trade with, you would never buy when the price is high, and sell when the price is low!.
Dedicated to your better mornings!!!
