EURUSDMy bias is that this pair is going long
Fundamental:
With the recent stimulus checks being pumped into the U.S. Economy, I believe that the value of the dollar will drop because the more dollars pumped into the economy equals a weakened currency.
Technical
On the 4hr chart, this pair is forming an inverted head & shoulders and once price breaks and retests the neckline it will give me clear confirmation that it is going up. I believe that price will go around the place where it last went when heading down. Which is about the 1.19300 area. From there it can continue to reach the next key level, which is where price also stopped in the past. But obviously I will wait for confirmation. Patience is key!
HOWEVER:
Price can do whatever it wants and if it decides not to break the neckline I think that it will break and retest the 1.1750 mid level-In quarter's theory- and go down to 1.1650 area, where price last stopped on its way up.
Confluences:
Break and retest of the neckline
Candlestick formation
EMA cross
Higher low
Patience
$BTC: Fighting to regain momentum.Right now we can see that bitcoin is fighting to get about the .618 fib pitchfork line. Honestly I'd like to see it reclaim the median before I go full bull mode again. Obviously I'm not bearish at all on the future of bitcoin, but short term price action might shake out some more over leveraged longs that get too excited if we break above 60k. A nice daily close above 63k would make me think that strong momentum pushes the price action upwards towards 80-100k. Let's go.
The 3 Types of Trades (Bad, Good and Great!)In this video we go over the 3 types of forex trades, the bad, the good and the great!
These tips are short and direct, but hopefully they are a wake up call to help you to start focusing on the good and great trades by being patient and disciplied!
I also go over our XAUUSD long trade!
Happy trading all <3
Nasdaq - Patience !We have to look at current price action as a potential WXY correction since wave (x) retraced "only" 78.6% of the prior 3 wave decline.
Right now we seem to have a 5 waves drop which could be wave a of the higher degree wave (y).
Price is now at a potential support zone from which we could see a bounce and retracement of current decline, after which, another drop below support could be seen towards 12600, where we have to find support if the bullish narrative is to remain our primary outlook.
Notice also that we have another potential Head and Shoulder pattern forming which if correct should take price towards 12200 BUT if price goes according to the above statemen,t down to 12600 and rallies back higher, the then failed H&S would again be a great bullish sign !
Trading Plan that will help you become consistently profitableIn my trading career beyond having a strategy (actually multiple depending on market state and asset class) to base my trades on nothing has ever been as important as having a Trading plan. In this post I want to share with you my personal trading plan to help you create a set of rules that will help you stick to your plan and keep your emotions in check so that you can actually follow your trading strategy and become a consistently profitable trader.
Something that was and still is key for me is the following realization:
Never get attached to your opinion or view of why something should happen. The market is in fact always right and based on nothing but irrationality since its made by humans so the movements of the market do not have to make sense and at more times then not will not make sense.
Trading is simply a mind game. Markets are a result of mass psychology which leads to exploitable edges. Mastering your own psychology is key to keep following the strategy that defines your edge.
So now without further ado my trading plan template that has helped me so much over the years and I hope will help you as well:
**General Rules**
1. Never enter a trade without a plan (TP,SL)
2. Once you are in a trade stick to the plan
3. Its ok to be wrong its not about being right its about making money
4. Be patient do not act on FOMO
5. Do not chase the market
6. Let your winners run and cut your losses short
**The 5 fundamental truths**
1. Anything can happen.
2. You don't need to know what is going to happen next in order to make money.
3. There is a random distribution between wins and losses for any given set of variables that define an edge.
4. An edge is nothing more than an indication of a higher probability of one thing happening over another.
5. Every moment in the market is unique.
**Rules of consistency**I AM A CONSISTENT WINNER BECAUSE:
1. I objectively identify my edges.
2. I have predefined risk of every trade.
3. I completely accept risk or I am willing to let go of the trade.
4. I act on my edges without reservation or hesitation.
5. I pay myself as the market makes money available to me.
6. I continually monitor my susceptibility for making errors.
7. I understand the absolute necessity of these principles of consistent success and, therefore, I never violate them.
**Risk and Money Management**
Do not increase the standard trade size before you doubled the account.
1. The maximum amount you are allowed to lose in a day is $XXX.
2. The maximum amount you are allowed to lose on any single trade is $XXX.
3. The maximum number of losing trades in a row you are allowed to have in a day before you stop trading is three.
4. The maximum number of losing trades you are allowed to have in a day before you stop trading is five. (You may have had a win or two between losses, but there is a time to stop trading.) The maximum number of losing trades in the same direction you are allowed to take in a day before you stop trading is three.
1. If you are up $XXX on a single trade, you will put a profit floor of $XXX underneath the current price to protect a portion of those profits.
2. If you are up $XXX on a single trade, you will take the money and close out the trade.
3. If you are up $XXX for the day, you will take the rest of the day off, stay away from the trading screens, and do something you enjoy doing—other than trading
!4. If you are up $XXX for the month, you will put a profit floor of $XXX underneath the month's profits to protect a portion of those profits. If you are up $XXX for the month, you will take the rest of the month off, stay away from the trading screens, and do something you enjoy doing—other than trading! Take a vacation, sleep late and read books, or do something else fun.
DASH - Waiting for a base before actingDASH - This one was a bit disappointing last time but it could redeem itself soon as it's possibly making a double bottom.
If we can get a consolidation now, a break to the upside will then be the confirmation needed for me to buy in.
A break above the pink anchored VWAP from the high will be another bullish sign, telling us this reversal could be a sustained one !
So, keep a close watch on this one too!
Fools Rush In - Buy on LimitsReview the intraday price action you see the ramp-up, and then the distribution. You also see this slight parabolic - so buy on pullbacks.
Risk-reward are easy set-ups with limit longs or a break trade to the upside as price drops below key support.
For key support, I am only using price defence areas on closing - the noise you use to execute trades in the 'wicks'
$BTC: Heikin Ashi showing signs of a turn around? Patience!!On the daily heikin chart, we're seeing the first bullish doji forming, which is a sign of indecision and the possible end of this downward trend that we've been in the last week. This 26% correction is fantastic for reloading on fuel for the next push higher. There's almost a 0% chance that 58k was the "top" and that we won't see #Bitcoin push towards the inevitable 6 figures.
I'll be looking to long the breakout of the top wick on this doji that's forming today. On the heikin ashi chart if price action was to push above that level, it would show an actual reversal in the trend. Be careful trying to long before that as the bullish doji in the micro downward trend might just be a pause before continuation. $BTC has multiple 30-40% corrections in its last run, and I would never count out the whales from a nice fake, followed by a liquidation of overleveraged moon boys, and then a subsequent earth shattering pump. Let's be patient and find out!
POLSThere is no sign of price consolidation at this levels,
making it a bit risky to get in at the wrong time.
If you are not sure about what you are doing, please find a professional
qualified financial adviser or somebody who really knows
when to do whatever is needed to do and does it at the right time.
CHFJPY🇨🇭🇯🇵 ( simple analysis for begginers ) 👨🏽🏫Hello Traders 🙋🏾♂️
Hope you had an amazing trading week just like we did !🤑
Here we go, shorting JPY once again.👍🏾
The pair has been loosing strenght, suggesting more upwards values on this pair.
So quite simple analysis, using only pattern recognition.
The pair created a bullish flag pattern, with a successful break-through to the upside.
After 3 weeks raging, the pair managed to break the resistence of that channel, looking for new highs.
After confirm a new high, on the last trading day from last week, we spotted a re-test on what I consider to be the new support, closing the daily candle above our previous high values ( the top of the flag pole, and all highs on our raging channel ).
With only 50 PIPs of STOP LOSS and 150 PIPs of TAKE PROFIT, we have here a nice 1:3 ratio.
Usually I always ask to close the trades earlier, but this one will deffo be a TP hit
Feel free to use this trade yourself. 🤗
If you found this idea helpful, please leave us your fedback on the comments below and don't forget to follow us so you don't miss any of our ideas. 🙇🏾♂️💙
Have an awesome trading week chaps 🍾🥂
EOS/USDT Active!Hello Community!
Before we begin please support my idea with a thumbs up and a comment. It'll be greatly appreciated and will motivate me to post a little more!
Lets keep it simple.
When taking a look at EOS / USDT on the Daily TF, we can see it trading back in a parallel channel I drew out in a previous post. It is currently making a go at the top of the channel and if it breaks out decisively we can expect to see a nice run to the next resistance drawn out, which is about 20%. This is a very active coin that seems to not shy away from 20% movements frequently. With that being said. If it fails to go through the channel I can see a move to retest the bottom, and you can guess that percentage or just look at my chart. lol
This is not Financial advice.
Safe Trading, Calculate Your Risk/Reward & Collect!!
Simplicity Wins
NQ=F keep pushing higher as negative divergent extendsHere is the daily chart of Nasdaq 100 e-mini Future. Despite of what's going on with macros, it keeps pushing higher day after day. I am just waiting to see the catalyst and a signal to enter a short trade. ES=F has a very similar posture as well. I also added support levels which will likely to produce some reactions as well as upsloping trend lines. Yellow trend line is from the 2008/2009 Great Recession. Given the put to call ratio, extreme euphoria, and extreme bullishness in public sentiment, I expect down move to be very fast and swift.
Am I right or wrong? Only the time will tell....
Have a good trade, everyone.
T.
SEC impactAs we are aware over 90% of XRP holdings are done individuals outside of the US. However, we need to understand that this does not mean the US can reach international Laws when it comes to anything involving big money. I have two personal opinions and comment below on what you think. I believe that when Feb 22 hits XRP will be back at the 0.45-0.50 maybe even 0.60 based on the previous structure that we broke back there that started on the 24th of Nov and Wicked out at 0.78. What i expect that from Feb 22nd XRP will wick out at around 0.70 and touch the 0.25-30 before we fly again over 1.00. Now my other personal opinion is simply that the price of XRP remain at the 0.25-0.30 and as a result of the Lawsuit if it may be deemed not a security, bring us directly to the 1.00 price range without the chance to see 0.25.30 again.
Now I believe this to be my personal opinion but if you think about it the Forex market is already a 4-5Trillion dollar market and that's per day. I believe the crypto market capitalization will reach 100 trillion dollars by 2025 if not 2030. This is simply something i see based on where the world is headed in terms of currency and the use of currency globally. Comment down what you think as I personally believe that XRPA itself will one day reach that MKT CAP of 1 trillion dollars. In Crypto, you never say never.
ADAUSDT (A look at the current situation) I don't have any short term trading advice.
I believe holding is a good option if you are in it for the long haul, but there's a chance we may see a deeper pull back.
*In my opinion I see us breaking out of this triangle toward the upside. It may take a couple more days to determine.
[$ETH MarketCap] Bearish DivergenceBonsoir à tous,
Soirée du 21 Décembre - Analyse du Marketcap de l'$Ethereum.
Depuis Mars dernier, le marché crypto et celui de l'éthereum a tout bonnement explosé, les annonces majeures ont joué fortement dans l'appréciation de second crypto-actif $ETH.
Prenons un peu de hauteur et ayons une vue macro à l'évolution graphique du cours avec une échelle de temps hebdomadaire
La folle hausse de ces dernières semaines dessinent une structure divergente à la baisse.
Deux hypothèses se posent pour la suite :
- Allons-nous consolider avec un retracement rapide et profond pour les fêtes ?
ou
- Entamer une phase de range et vivoter vers la ligne de tendance pour confirmer (ou non) une nouvelle fois une phase haussière ?
Grace à modèle Ichimoku, on peut tirer certaines observations importantes.
- Nous avons atteint la Kijun Weekly résistance de 2017 à 82 Milliards de capitalisation pour l$ETH et marque également l'objectif (ligne de cou) du double bottom en W => donc niveau de résistance moyen-terme.
- De plus, la Lagging Span marque le pas face au niveau de résistance et la divergence baissière entre le prix et le RSI marquerait la fin de la tendance haussière à court-terme.
- La Kijun et Tenkan désormais assez loin et il serait préférable de revisiter les niveaux inférieurs pour continuer une démarche haussière saine.
Les acheteurs devront se montrer alirs en masse pour soutenir encore la hausse et pousser vers de nouveaux sommets !
Attention:
Les périodes de fin d'année sont des périodes souvent propices à la prise de profits.
Ne soyez pas forcément trop gourmand et sachez être patient !
Peace
NicoDonCrypto