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Parallel Channel

Weekly Trading Recaps: XLMUSD, NZDUSD, BTCUSD, SUGAR Jan 09 2021Hello everyone: Back here with another weekly trade recap video. This week I did enter 2 more positions, and still holding 2 trades from last week. Let's take a look: XLMUSD (Stellar) - Once price impulsively breaks above the HTF flag structure, I looked for LTF continuation correction to get in. I was fine with a bigger SL due to the nature of crypto, and fine holding through it for a long term approach. NZDUSD - Entered with a stop entry order, and then price eventually tagged me out for a full loss before resuming the downtrend as I forecasted. Looking back at the trade, I was fine with the entry, and saw a completion of a LTF correction. Even though price reversed a bit and tagged me out, it still completes the LTF correction and eventually still moves to the downside. Sugar - Still in this one, as I see price hits the previous swing high tops, and then formed this LTF Head and Shoulder, I knew there is a probability that the price may not continue upwards. I am fine with a SL still at BE, as my bias on the HTF still could work out, and did not want to choke the price. BTCUSD - Running deep into profit. Will let the trade run and adjust SL accordingly. Looking to continue to hold as long as I don't see any trend changes or clear LTF bearish price action and reversals. Any questions, comments or feedback please let me know :) Thank you Jojo
BINANCE:XLMUSD
by jojofang0901
12
GLD swing entryGLD is a gold etf, it has been consolidating in a bull flag for quite some time and i believe we see a large move upward in the next couple weeks as it just broke a major trend line. There has been plenty of governement spending recently and with Biden getting elected, we should see an increase in spending and stimulous. Any increase of supply in the USD will result in inflation and in turn, cause asset and commodity prices to rise. This is an excellent point to enter into a long term position in gold, whether in a gold ETF, mining companies, or futures; however, the entry im shoing in this video is to take advantage of a trend break and i believe that short term we should see a large rise in GLD.
AMEX:GLD
by ThirtyninethParallelInvestment
Weekly Trade Recaps: BTCUSD, SUGAR, AUDNZD, CADJPY Jan 01 2020Hello everyone: Welcome to 2021 :) Hope everyone had a wonderful time with their family, friends and others. Looking forward to what 2021 will bring for us in trading :) Let's take a look at the 2 positions that I entered from last week, as well as the 2 trades that were closed down as well. BTCUSD - Currently running about 1.5:1 Profit. As the price broke the previous tops of the correction, I moved my SL to BE. SUGAR - Currently running about 1:1 Profit. I moved my SL to BE now. AUDNZD - SL hit for 3:1 profit. Was happy with the management approach that I made. Even if the price seems to continue going up, I am fine with the result. CADJPY - Closed down both trades. Result in BE for total. I knew the risk when I entered the second trade, and it's always in my risk management plan to move my first trade’s SL to 1:1 profit to protect my account. Any questions, comments or feedback please let me know :) Thank you
BITSTAMP:BTCUSD
by jojofang0901
7
Weekly Trade Recaps: CADJPY, AUDNZD, LTCUSD December 27 2020 Hello everyone: Merry Christmas and Happy New Year. Last week was somewhat quiet as we had Christmas holiday going into the weekend. Quick going over my current positions from last week, did enter a scale in position, and that was it. There was 1 miss trade that I did not take. CADJPY - First trade running about 2%. SL at 1:1 RR. Second trade scaled in. AUDNZD - Running about 4% in profit. Set my SL at 3:1 RR. Happy to see the trade goes either way, either hit my SL or continue higher and break previous highs. Then I would look for continuation correction to scale in. LTCUSD - Missed trade. Did like the overall price action, but did not have the chance to enter. Any questions, comments or feedback please let me know. Thank you Jojo
by jojofang0901
11
Bullish BTC and ETH but ETH is better here is whyHello All, Just wanted to share my thoughts and help take some of the fear out of the markets. We should expect things to trade in there normal business cycles and I think BTC and ETH are trading very reliably right now. I believe in the long run that ETH will out perform BTC in terms of multiple gains from here to the end of the cycle and now is a great time to get into ETH if you don't own any. Buy low sell high! Hope you all have a great day!
BITSTAMP:BTCUSDLong
by JoelTCampbellJr
2
Weekly Trade Recaps: CADJPY, XRPUSD, AUDNZD, USDMXN December 19 Hello everyone: Back here with another weekly trade recap video. This week a few more trades were entered, let's take a look. CADJPY - Running about +1.5%, SL at BE. Like the double tops, reversal correctional price action on the lower time frame. XRPUSD - Running about BE. Happy with the entry and the bullish price action at the time. AUDNZD - Scaled in the second entry, got out for BE. Still in the first trade, running about +4.5%. USDMZN - 1% loss. Overall I would take the entry over and over again, fine with my entry and the loss. NZDCAD - 1% loss. This trade I set an entry order, and did not remove it before the roll over period. Got tagged in with high spread and quickly took a full loss. Good reference and thing to watch out for in future. Any questions, feedback and comments please let me know, thank you.
BITSTAMP:XRPUSD
by jojofang0901
6
Closer look at Ascending/Descending structure price action Hello everyone: Let's take a closer look at the Ascending/Descending channel structure in the market. Typical ascending channel will happen at the top of the overall price action, and once the correction is finished, we have a high probability to see the price reverse. Whereas a descending channel structure will form at the bottom of the overall price action, and once correction is complete, we are likely to get a reversal from the bottom. Smaller chances these channels will appear in an impulsive move as a continuation correction, but not as frequently as appear as a reversal correction. These channel correctional structures are forming because there's currently a close number of buyers and sellers in the market that continue to go against each other, hence price isn't in the “impulsive” phrase, rather just in the “correctional” phrase. But, we know from the nature of the market, once the correctional channel completes, we have a high probability of entering the impulsive phrase, and the reversal move is likely to be sharp and fast. The key is to identify these Ascending/Descending channels on the higher time frame analysis, and go down to the lower time frame to confirm the reversal price action. This will allow you to get maximum R:R. You want to find reversal price action on the LTF to give your extra confluence and confirmation that the Ascending/Descending channel is finished correcting, and an impulsive phrase will enter the market. As always, feel free to ask me questions or comments. Thank you
by jojofang0901
12
Weekly Trade Recaps: NZDCAD, EURNZD, AUDCHF December 05 2020Hello everyone: Hope everyone is having a good weekend and is preparing for the next week. I will be starting to do these weekly trade recap videos on a weekly basis starting in 2021 January, and want to hear feedback from everyone in the community on this style of educated information. Let me know what you think of these types of contents and formats :) NZDCAD - Currently running about 5:1 RR, SL at 2:1 profit. Looking for more LTF continuation for possible scale in EURNZD - Currently running about 3.5:1 RR, had a scale in opportunity for the second entry. First entry SL at 1:1 profit, and second trade at BE. AUDCHF - BE trade, still seeing if more downside bearish momentum can happen in next week. So any questions, feedback or comments please let me know, thank you very much. Jojo
by jojofang0901
11