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Patience

AUDNZD - patience, vigilance and planning required.This video is not about an instant opportunity for jumping in the markets. I'm sharing how I stalk the markets. New or novice traders - all too eager to make a fast buck - tend to miss the big issues i.e. that it is about patience, vigilance and planning ahead. The methodology shown is relevant to trend following. How do we find trends? Well, we need to be tracking price action on all time frames and key levels of probabilistic reversal. It's been a long journey for me and many new traders out there. For too long I've been told by the experts that it is mainly about vigilance and planning. Pain delivered by the markets brings home the truth of that golden message. These days I say it's about 80 to 90% vigilance and planning, and 10 - 20% execution.
by Captain_Walker
A Bull Trend Continuation on The EURTRYLast post: May 13th. See chart . Review: A break and close above April resistance was required to confirm a trend continuation of the bull trend. Update: The breakout took place, offering a long entry, and a new resistance high has been created. Conclusion: Patience needed until the current May resistance becomes support. Any comments or questions, do not hesitate to leave them below. Hit agree if you share our sentiments! Sublime Trading
Long
by Sublime_Trading
The EURSEK Bouncing Off SupportWe last posted on the EURSEK on April 20th when price had broken above followed by a pull back to the drawn-in pivot support level. This pivot level so far has held strong and we are seeing strength to the upside. We want to see the momentum to the upside continue and take price through and close above the pivot high of April and ideally in the form of a bullish flag. If the bullish flag does not materialise then that will mean further patience until the breakout is confirmed. Either way, we require a breakout for a continuation of the bull trend to be likely and until that happens we will be holding tight and applying patience. If the breakout does happen then we would like to see price move towards the next key level of 11.0000 and offer opportunities to compound on its ascent. We have a long position As the trend suggests, if the breakout does happen, expect a pullback to retest this current April high before a bounce up. Embrace and expect pullbacks as they are a natural feature to price action. These are areas where many panic and lose money or get out of winning positions way too early or areas where people often are sucked in to go against the trend but fail. Those who have a solid understanding of the natural features of price will simply stand aside and apply patience and wait for price to dictate a breakout to the upside in the case of the EURSEK. Any comments or questions, do not hesitate to leave them below. Hit agree if you share our sentiments! Sublime Trading
Long
by Sublime_Trading
PIVXBTC short-term (golden crossed, gonna breakout) I have been watching the PIVX/BTC for few weeks. This is the fourth time in 2 weeks it is trying to break the upper line of the symmetrical triangle, and also poke the H&S neck's line. The 1D golden crossed happened already so we are able to believe that the breakout is in coming. RSI gonna break resistance also. Trading strategy: - on 4H chart, RSI is near overbought, stoch overbought already so the correct gonna happen. - wait for the correct and buy near the support line of the ascending triangle - be patience for this trade is what I found after watching the price. Target - stoploss: below red line (<5400 imo) - target 1: 64000 - target 2: 66000 - target 3: 70000 - target 4: 78000 Happy tradding! Linh,
by linhbeopr0
The USDTRY Steams AheadWe last posted on the USDTRY on April 6th when price had broken and closed above pivot resistance. Prior to that, price had been in a consolidation that stretched back to November of last year. The longer the consolidation, the bigger the breakout is the expression and we would like that to hold true for this currency. Price has seen three strong bullish days since the last post but do not expect this continue. Price does not and will not simply shoot off in a straight line. There will be trends that move faster than others, and this could be an example of that, but even fast moving trends have breather periods and pullbacks within the trend. What we now want to see on the USDTRY is just that - a breather or a pullback of sorts. It may not be as deep as to the support level highlighted above but we do need to see a correction. If the pullback is deep then it could offer a pullback entry. If price simply goes through a breather, then a breakout entry would be more suitable. We will let price dictate that. Any comments or questions, do not hesitate to leave them below. Hit agree if you share our sentiments! Sublime Trading
Long
by Sublime_Trading
Will The TRYJPY Break Pivot Support?While the other JPY currencies that we have posted about, such as the AUDJPY , the CHFJPY and the USDJPY , continue to pullback or remain firmly in consolidation, the TRYJPY is leading the way for a possible breakout and trend continuation. We last posted on the TRYJPY on April 4th when price had pulled back to and found resistance at a previous pivot level. Since then, price has weakened further and is now back at the pivot low of March. This is classic price action movement in a trend. Price does not and will not ever move in a straight line. A trend is made of moves in a direction followed by a pull back to levels of support and resistance before a move back in the direction of the main trend. The TRYJPY has moved in the right direction according to our previous post but we still need to apply patience and wait for a break and close below the March pivot support and ideally in the form of a bear flag. Flags, as trend traders, are our preferred chart pattern as they offer entry points, confirm a trend continuation and bring linearity to the trend structure. This will then give us a strong confirmation of a a continuation of the bear trend and when we will look to enter compounds to the short trade we already have in play. We are close to a setup but we will be standing aside and applying patience until price confirms the breakout. Any comments or questions, do not hesitate to leave them below. Hit agree if you share our sentiments! Sublime Trading
Short
by Sublime_Trading