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The Eagle eyes a ( Risk on ) Inflation report 🦅The market is going up for asian session and I'm anticipating a correction of this price action during lodnon session. With USD CPI data during New york session it is possible price could just fly to the next daily resistance zone 1.0813. This will likely occur if the 4.1% forecasted inflation rate isn't met and inflation decreases at a slower rate than what is expected. I think this to be the more likely scenario because a .8% decrease in inflation seems like a bit much to me. I'm not anticipating that EURUSD will take it's lovely time increasing. It will be abrupt and cutthroat as the market blows through Investors's ***** ... Okay I will stop there because I don't want to make things to explicit. That's whats happening when price fluctuates 50 pips in the blink of an eye anyways. It's not what you want to hear but it's the truth. The unprepared will be taken to the slaughterhouse. I will implement my trading system as it allots. Risk management / Position sizing and capital preservation are especially significant during times like this. CPI data releases have acquired an important role in the last 2 years due consistently high inflation. If Eurusd continues it's downtrend on Higher timeframes and last week's bull candle was just a dead cat's bounce, then we may anticipate that price will spike at or above 1.0782 Daily resistance level or even go touch 1.0813 Daily resistance level before returning to the downside as the current daily candle closes back underneath 1.0782 Daily level and goes back down prior to FOMC interest rate news on Wednesday. Price has estalbished a new Daily support level at 1.0746
Long
by ShrewdCatfx
The AEM Framework: 3-Step Guide to Successful TradingToday, I'd like to introduce you to the 'AEM' framework – a three-step process to successful trading. This framework is designed for everyone, from beginners starting their journey to seasoned professionals looking to refine their strategies. It involves three fundamental steps: Analyze, Execute, and Manage. Let's break down each element: 🔍 'A' for Analyze The first step to becoming a successful trader is to understand yourself and find a trading style that suits your personality, risk tolerance, and financial goals. This includes your emotional comfort with taking risks, your patience levels, and your time commitment to trading. Once you've figured out your trading style, the next step is to analyze potential strategies. Whether you're inclined towards fundamental analysis, technical analysis, or a combination of both, you must thoroughly understand the strategies you want to apply. Finally, analyze your chosen strategies and yourself to create a robust trading plan. Your trading plan should include what you'll trade, when you'll enter and exit trades, and your criteria for decision-making. Remember, the goal isn't to make perfect predictions but to follow a consistent plan that can potentially yield positive results over the long term. 🎯 'E' for Execute The second phase is execution. You've made your plan, and now it's time to put it into action. Execute your trades according to your strategy, without letting emotions cloud your judgement. Remember, it's about sticking to your plan – not chasing profits or running from losses. But executing your plan isn't just about trading. It's about discipline and consistency, regularly reviewing your trading activity, making adjustments as necessary, and continuously learning from your experiences. 📊 'M' for Manage The final step in the AEM framework involves managing several aspects of your trading: Manage Yourself: Trading can be emotionally taxing. Maintain your physical and mental health to ensure you're always in the best shape to make rational decisions. Manage Your Risk: No strategy is bulletproof. Always use stop losses, position sizing, and diversification to manage your risk effectively. Manage Your Trades: Monitor your trades, keep records, and review them periodically to identify patterns, learn from your mistakes, and improve your strategy. Manage Your Money: Keep your capital safe. Never risk more than a small percentage of your trading capital on any single trade, and be sure to keep some funds in reserve for unexpected opportunities or setbacks. The AEM approach is a comprehensive method that can assist you at all levels in creating, executing, and managing a successful trading plan. It encourages introspection, disciplined execution, and careful management. Remember, the journey to trading success isn't always smooth, but the right approach and mindset can make it considerably more navigable.
Education
by TheFxAce
13
Don't Eat the Forbidden Fruit and Buy the High ❎The Market can do whatever it wants. The market may do as it wishes whenever it pleases. Like the wrath of a god. We are not gods. We are humans and not one of us is invincible. Therefore we must only take good Risk/Reward ideas. Buying up here is not a good RR Idea. Buying the High and chasing the market is Forbidden to professional traders. Just as Selling the low is. These are principles that the trader learns along the long and painful journey to profitability. This is how the Average man , through patience and diligence , may become the greatest of warriors. And line his pocket in ever-increasing quantities. Don't chase but allow the market to arrive at your level's. The latter has probabilities in favor.
BITSTAMP:BTCUSDShort
by ShrewdCatfx
6
Creation of the Top wick / Weekly Candle / End of WeekThere are only two things that can happen on Friday's Daily Candle 1) Price may continue to create a larger weekly candle body or 2) the weekly candle will form a larger wick and retrace This week we are observing the latter Price is pulling away from the High prices created during yesterday's New York Session If the Daily candle closes beneath 1.0762 then we have returned back into the range and will be eyeing out potential short setups to begin next week. For Buys I would've preferred that we would have held 1.07615 Daily S/R Zone as we can see it played a key role in pivoting on 6/2, 5/19, and 3/27 Now we continue the range as far as Im concerned. We may pullback to the highs ( 1.0774 and 1.0786) early next week ( Monday/Tuesday ) then dive back to support at 1.069 Daily Support.
by ShrewdCatfx
Ongoing Range above Key level 🎴We can observe the Ongoing Range above our Key Level ( Weekly Level 1.066 ) Monday Asian Session -> Bearish Monday London Session -> Bearish Monday NY Session -> Bullish Tuesday Asian Session -> Range, and at best slightly Bullish Tuesday London Session -> Bearish Tuesday NY Session -> Bullish Both London Session's this week have been Bearish thus far. As we approach unemployment claims data on Thursday NY Session, I can observe a Bullish London Session and increase overall on Eurusd until then. Price is not quite having the effect it once had when we initially dipped into our Weekly level last week 1.06636. The reactions off the Weekly level are becoming smaller and less pronounced. We are still holding steady however and price has not dipped below our weekly level since the initial touch. Short Sellers are happy that the Daily candle is closing bearish and they would prefer a close below Daily support at 1.06885. Buyers are happy that the decrease over the last 4 weeks on Eurusd has come to a halt as the Daily timeframe ranges above our weekly level through 1 week and 2 days into the next week. The manufacturing data yesterday was bullish for Eurusd and caused an increase in the price. Consequently, this increase was corrected down to the price of EU prior to any manufacturing data. However, NY session has been bullish for the 2nd day in a row as EU holds steady above our weekly key level. Today I had a very good trading day taking buys at lower prices near what was a 1Hr Zone at the time 1.067. The Level has since turned into a 4Hr Zone as New York has successfully rejected those lower prices.
Long
by ShrewdCatfx
2
Fake Breakout / Fakeout BTC 🔄This view of BTC comes from a background of Price action trading. Trading Fakeout's are quite common in the Forex market and have proven to be a cornerstone of my Trading Strategy. Fakeout's occur on all timeframes and take the market for an unpleasant ride. Traders Buy the breakout or in this case Short the breakout hoping to jump on the train and continue to lower prices. The liquidity that is generated is consequently used by large players to 1) Scale out of their short positions and 2) To gradually accumulate opposing orders ( In this case Buy orders ) Fakeout's are not hard to anticipate and are somewhat similar to trading support and resistance levels. The only difference being the sequence in which the market sets itself up prior to the support and resistance bounce. In this case we can observe that the price on the Daily timeframe has been bouncing between 26,400$ and 27,400$ since May 12. Price recently closed quite the bearish candle on June 5th ; closing outside of our previously mentioned range. A good Risk/Reward idea suggests that we may bounce from the bottom of the range.
COINBASE:BTCUSDLong
by ShrewdCatfx
USD Buyers Surprised by News Release 🎋 Hold or fold? Manufacturing Data sent Eurusd price soaring 42 Pips in less than 11 minutes as the expected figure missed. Is the current Price sustainable for Eurusd? The Weekly candle dipped down to down Daily Support Level 1.06684 and coinciding with manufacturing data we have rejected our Daily support level. In order for the current Daily candle to close bullish price needs to close above 1.07107. Bullish Argument - If the Daily candle closes where it currently sits, it looks like a Bullish hammer candle. - A Bullish Hammer candle rejecting Daily Support Level 1.06884 - Price has retraced Asian session and London sessions's bearish descent - I am anticipating a steady bullish recovery in EURUSD price since the meeting minutes on May 24 ( For more, please check the post " Ultimate Catalyst : Interest Rates News " ) - The Weekly candle last week closed as a Doji candle, an Indecision candle as bears ran into a wall at our weekly support zone 1.06643 Given all of this, It is very common to see News releases get corrected. I believe this will occur over the next few sessions as we could observe during the May 10th CPI announcement. On this announcement Price initially spiked up with news. This occured only to see Eurusd price corrected as the market digested the news. It took 18 Hours before Eurusd corrected the May CPI news. Price on Eurusd was decreasing to close out last week. This week price had only been decreasing with exception for the New York session manufacturing data news release. I am anticipating Eurusd to range and gather more orders around 1.0688 Daily support before seeing anymore upside.
Short
by ShrewdCatfx
Most Relevant Short term Level's / US30 🧑‍💼33,111 Support on the Weekly Timeframe 34,092 Resistance on the Weekly Timeframe With Monday Daily candle close, we have just created a Daily resistance zone at 33,760 32,856 is the nearest Daily Support Zone After the market pumped up +2% last Friday, we can observe a -.61% down Monday. The Market has been ranging for 6 months plus. I think we will continue to observe a range after the Daily timeframe popped it's head above 33,675 ( Previously a Daily resistance after Friday's Daily candle closed above it ) Monday's price action has had the Market ease off the highs and are idea here is that this will continue into Tuesday's and Wednesday's Trading. If the Market sticks it heads back up to 33,762 it may offer a good Risk Reward Bearish Setup
UShort
by ShrewdCatfx
Surrender Bears! Accumulation above 26,747 ? 📽️Timeframes are closing above Weekly Zone 26,770. Unless during the next 22 hours we see a 1.22% dump below our weekly level , I'm Looking up from here. Price has returned into our range from the second half of May between Daily Zone 27,400$ and 26,747$ Weekly Zone. Price printed a solid Bull candle rejecting our Weekly level which was anticipated. Price consolidated and dropped slightly during yesterday's daily candle. We haven't started dumping and price has been consolidating along the Highs of our Daily range from the Second half of Month May. The Highs during the Second half of May being 27,400$. As the New week begins I am looking for an Increase in Bitcoin as the debt ceiling controversy ends and the Summer begins. 29,246 Weekly Level is our target for the 1st half of June. Safe Trading.
COINBASE:BTCUSDLong
by ShrewdCatfx
Forex Gods 🧞 Dare to Continue Eurusd? Well.. entering the final london session of the week here. I'd be a fool to change up on my analysis. What I have projected thus far this week has occurred exactly as I had anticipated. Would I be foolish to give up on this and outsmart my original idea so to speak. I don't want to play myself. When you stick around in the markets long enough, you begin to see things occur over and over again. Those who know, understand. It's not complicated though and it's actually pretty straightforward. When you mix an attachment to money in there, well no sh*t it is tied to our survival in the modern age. Well that's when things get complicated. Otherwise, I'm simply drawing lines and articulating what's unknown to me at this present time. I've done it long enough now to the point in which I am quite confident either way. Most of the time price bounces at my levels and so for the rest of time I will have the ability to create attractive Risk/Reward ideas. What a privilege. The difficult part is sticking around long enough to gain another perspective. I've seen many come and go and I feel lonely at times. I suppose that so long as I can draw my accurate level's/zones on the charts, the gods will have a place for me. Just as the gods do for all of us.
Long
by ShrewdCatfx
A 1 off Pump? Bitcoin Profit Taking -> ₿ BTC Bulls Investors - " We want a pump back to all time highs to earn money " Institutions/Insiders - 1) " We want pump as well to earn money, but we must wipe out investor accounts and create a reset in price. 2) " We will clear out the bull investor liquidity first. When there is blood in the streets, we may consequently re-stock our inventory of BTC and maybe we will pump to all time Highs" 3) " Or we will simply create a reset in price once again" There are a few types of fish. Stay 1 step ahead and plan your participation in the market. It may take a while to learn what works for you. But once you do, you can survive and grow you account ever-increasingly with a repeatable process in place. May gold line thy pocket with time and patience. Time and patience are the 2 greatest of warriors. Say no more. We may anticipate a retest of weekly support level 26,770 before a continued pump on bitcoin. Alot of players may be willing buy at these prices because of a fear of missing out. This could be the very reason why we will see a decrease in price. In the short term I am anticipating a return back into our Daily Timeframe range between 27,403 $ Resistance and 26,334$ Support
COINBASE:BTCUSDShort
by ShrewdCatfx
Key Levels are Magic 🪄 Create only the Best Risk/Reward Ideas!Someone recently asked me if the zones I draw on the chart is an indicator. This speaks to the amount of experience and level of competence that is easy to forget about. My ability to spot key level's and price areas on the chart is not something that is acquired overnight. It's a culmination of trial and error over the years and a loss of a significant amount of cash. It came at a large cost. The Latter is not necessary to understand the best key level's and price areas to trade off. Something that I recall over the years is the fact that I was never Self-Conscious about looking like a fool. We are all fools when we begin a new endeavor. I never hesitated to share my analysis with my mentors. Feedback can be quite painful but if you make it a habit, then it will return unto you by the tenfold. Take this zone (27,136$ ) which was our 4Hr Support zone. I Say "was" because there was once a time when the 4Hr timeframe respected it as a Support area on May 28th. It is now characterized as a 4Hr S/R Zone because we have seen multiple candles clearly close below it.. and it could, and I say could because there is no guarantee in the markets. It could act as a Resistance zone now and facilitate the distribution of orders as we continue our short term descent down to our next Key Level -- Weekly Level 26,770 $. If we arrive at the weekly level we will most likely have a reaction. A general rule of thumb to go by in the markets as a Price Action Trader - The Higher Timeframe the key level, the more probable it is that price will offer a good Risk/Reward trading idea off that level. The only guarantee is that there are good Risk - Reward Ideas and bad RR Ideas. So I might as well use my knowledge of the best price areas to create only the best Risk/Reward Ideas. For example, I will only trade off the 4Hr timeframe and Timeframes above that ( I have found this to be a good rule in the Forex market). I will only take trades that in which I Risk 1 to earn 3. In that way my win percentage may only be as good as 30%, yet after paying commissions/spreads to the intermediary, I earn a profit. It is important to note that the monthly candle is closing in 2.5 Hours. Th Monthly candle is closing bearish and this may cause volatile price swings as position traders and Institutions manage their trades. It seems that we have accumulated a significant amount of liquidity after the market was pushed up to 28.5K because look at the daily timeframe. The market didn't hesitate all that much to quickly drop back and retrace a majority of the gains. As we move into the next monthly candle, we may very well go to create a bottom wick first as the current monthly candle is closing bearish. This is reasonable argument. Idk what are your thoughts? Please comment below.
COINBASE:BTCUSDShort
by ShrewdCatfx
More Gas in the Tank? Eurusd 🌬️If we are trading with the trend then it would be wise of us to continue to look for short setups. However, Price has plunged to the downside plenty and it is reasonable to ask when will we see a correction. My thoughts are that we see a dip early in the week. Buyers eventually show up around our weekly level 1.06654 and we continue up for the rest of the week or consolidate after liquidating late shorts. The debt ceiling controversy may be used as an excuse to pump risk assets. It would also provide a nice opportunity for the dollar to pullback. Alot of talks about the dollar being over-extended may see a last and final burst to liquidate any dollar shorts at these level's. After that the dollar may then ease off the highs and pull down for the rest of the week. (Meanwhile EurUsd would go up) A double bottom looks like it may be forming on the 4Hr and so we may an increase on Eurusd sooner rather than later. Anything may happen and so we must follow the processes we have set in place to protect ourselves. Expect nothing from the market and it cannot dissapoint you. There is always another day to trade your setup as there is always another week to execute your strategy. Trading Talk: The way in which I execute my two setups during NY session are as follows. Setup 1: Outline the specific zone you would like to execute this setup. Set your alert(s) Setup 2: Pick your current bullish or bearish bias and write it on the chart. I only allow myself up to 15 Trades / Day But I will not lose more than the Percentage equivalent of 2 Losing trades. Beforehand my risk management strategy was only as good as my skill. But Sometimes to a fault. Now my risk management strategy is as good as my Preparation. And this will encourage only the higher quality setups. Have a good trading week.
Short
by ShrewdCatfx
2
Eurusd Longs " Where art thou ? " 🔭As Bank Holiday Trading comes to a close, we can observe another Bearish Daily candle. The Eur is weak through the holiday trading and the U.S dollar advance is yet to give in. The dollar index is a little bit better than B.E. on the day. For Eurusd : - Watch 1.07116 4Hr Support zone closely. A Strong 4Hr candle closure rejecting this level may send us quickly back up to 4Hr resistance Zone 1.074 and next we may retest our most recent Daily Level ( Daily S/R Zone 1.076 ) - A touch into our 1.0665 Weekly Zone In my opinion is very likely and will coincide with the 6 Red folder news releases we have this week. - We have alot of news this week and we must be aware during our trading - Bull targets for the week include 1.08125 Daily Resistance Level - Bear Targets for this week include a touch into 1.06245 Daily Support Level No trading today since it is a bank holiday. Less opportunity in a low volume market. At least when it comes to the parameters of my trading plan. Safe Trading.
Short
by ShrewdCatfx
Jobs Data 🏗️ / Weekly Level 1.06643 Eurusd Jobs Data was expected to ease over the prior period as the U.S. may have had a smaller amount of job opportunties for it's citizens during the month of May. It turns that the U.S. had more about 160,000 more job openings than was expected. So this is positive for a few reasons - Data was expected to ease over the prior period but we didn't ease and instead the U.S. gained job opportunities during May. - Data was better than expected by a significant margin when compared to previous job openings data releases. This is Optimistic for the U.S. Economy. The impact of the News on price action has initially gone down and dropped from our 4Hr S/R level at 1.07018 Moving Forward I anticipate consolidation or a retracement in price while we hold above 1.06643. If we continue our descent and USD news turns out to be strong enough, our next target is 1.06235. After that, and with NFP data on friday, we may continue to drop to 1.05435. I took a buy at our weekly level 1.0665 when price creased the initial low created during the first 1 minute of news. I have since been stopped out by a small margin before price retraced in my anticipated direction but would take the trade once more given the chance. Weekly Level's are quite strong area's on the chart. Stronger than Daily Level's! They Hold quite frequently as we can observe from the trading earlier in the day. 2 Hours after London open was when we initially tapped into 1.06643 Weekly Level. It coincided with the new 4Hr candle and explains why you can observe no bottom wick on the previous 4Hr candle. Big Players trading on the Higher timeframes are supporting a demand area here. As a scalper I have them to help with my intra-day activities.
by ShrewdCatfx
2
PLN/TRY Strong Buy Fundamentally the Poland economy is showing green signs to recover,while new crisis ae threathenning Turkish economy Technically A long solide series of Higher Highs and Highe Lows is giving a stong bullish picture The Bullish volume is creating more often while the short setups get quickly stopped by very low volumes. PLN boke aleady 20-50-76 and 193 Higher highs succesfully by veyy high volumes that indicates the beakouts have been valid. The strategy is trend. One possibilitiy is to buy the minor trends pullbacks in direction of the major trend
Long
by DaveBrascoFX
15 Key Principles for Trading SuccesHello fellow traders! I have compiled an article containing valuable insights and practical advice to help you navigate the trading world. Covering essential topics such as technical analysis, risk management, and adapting to market conditions, this resource is designed to enhance your trading skills. Dive in, learn, and apply these principles to your trading journey. Wishing you success and happy trading! 1. The Importance of Risk Management in Trading The key to successful trading lies in managing risks effectively. You need to have a solid plan to protect your capital and stay in the game. Some risk management strategies include using stop losses, limiting margin usage, diversifying your portfolio, and risking only a certain percentage of your portfolio on any given trade. Remember, the best traders know how to limit losses while maximizing profits. 2. Building a Solid Trading Plan Every successful trader has a well-thought-out trading plan that they follow religiously. This plan should include your trading goals, strategies, risk management, and entry and exit points. Crafting a solid trading plan helps you stay disciplined and focused, ensuring long-term profitability. 3. The Value of a Trading Mentor and Learning from Others Having an experienced trading mentor can significantly boost your trading performance. A good mentor can provide valuable insights, guidance, and constructive criticism, helping you refine your strategies and avoid common pitfalls. Also, don't hesitate to learn from other traders by subscribing to high-quality trading YouTube channels or participating in online forums. 4. A Comprehensive Education in Finance and Economics To conquer the financial markets, you need a strong foundation in the basics of finance, macroeconomics, and microeconomics. This knowledge will help you understand the driving forces behind market movements and make more informed decisions. Khan Academy offers excellent free courses in these subjects, and for technical analysis, consider reading "Technical Analysis of the Financial Markets" by John Murphy. 5. The Power of Charting and Technical Analysis Mastering charting and technical analysis is essential for making accurate market predictions. Spend time learning how to use your charting platform, like Trading View, and familiarize yourself with various indicators, tools, and strategies. Knowledge is power, and the more you know about your tools, the better your trading results will be. 6. Staying Humble and Detached in Trading Leave your ego at the door when it comes to trading. It's not about being right; it's about making money. Stay humble and unemotional, and don't let pride or personal attachments cloud your judgment. Remember, every trade has inherent risks, and past performance does not guarantee future success. 7. The Benefits of Keeping a Trading Journal Maintaining a trading journal helps you track your progress, learn from your mistakes, and refine your strategies. Record your insights, trading plans, and the outcomes of your trades. This practice will make you more disciplined and focused, ultimately improving your overall trading performance. 8. Avoiding Speculation and Emotional Trading Successful traders make decisions based on data and analysis, not speculation or emotion. Keep your feelings in check, and never enter or exit a trade based on fear, greed, or personal attachment. Stay objective and remember that data-driven decisions yield the best results. 9. Staying Informed and Recognizing Market Trends Pay close attention to market trends and financial news. Be aware of what's happening in the world, and use this information to inform your trading decisions. However, be cautious of hype and mania, as they often signal the peak of a trend, rather than its beginning. 10. The Art of Strategic Entry and Exit Points Before entering a trade, plan your entry point, stop loss, and profit target. Always ask yourself how much risk you're willing to take for a potential profit. By carefully considering these factors, you'll make more informed decisions and improve your overall trading success. With these principles in mind, you'll be well on your way to mastering the financial markets and achieving consistent profitability in your trading endeavors. Remember, the key to conquering the financial markets lies in continuous learning, discipline, and adaptability. Keep refining your strategies, stay informed about market trends, and always be prepared to adjust your approach as needed. 11. Adapting to Different Market Conditions Markets are ever-changing, and it's crucial for traders to adapt their strategies to suit different market conditions. Develop various strategies for both bull and bear markets, and be prepared to switch gears when the market demands it. Flexibility is the key to long-term trading success. 12. Utilizing Diversification for Risk Mitigation Diversification is an essential part of risk management. By spreading your investments across different assets, sectors, and even trading styles, you can reduce the impact of losses in any single area. This approach helps to protect your overall portfolio and ensures more consistent performance. 13. The Importance of Breaks and Mental Health Trading can be intense and emotionally draining. It's essential to take regular breaks and maintain a healthy work-life balance. By stepping away from the charts, you can recharge, gain perspective, and ultimately make better decisions when you return to trading. 14. Networking and Building Connections in the Trading Community Engaging with the trading community can provide valuable insights, ideas, and opportunities. Attend trading events, join online forums, or participate in social media groups to network with other traders. Sharing experiences and learning from others can greatly enhance your trading skills. 15. Constantly Improving and Evolving as a Trader Finally, never stop learning and evolving as a trader. The financial markets are constantly changing, and what works today may not work tomorrow. Stay curious, keep learning, and be open to new ideas and strategies. By embracing change and growth, you'll ensure long-lasting success in the trading world. In conclusion, conquering the financial markets requires a combination of solid education, discipline, adaptability, and a willingness to learn from others. By implementing these principles and continuously improving your skills, you'll be well-equipped to navigate the complex world of trading and achieve lasting success. So, roll up your sleeves, dive into the markets, and start your journey towards becoming a master trader.
SP:SPXEducation
by Julien_Eche
The Case for the Dow Jones Breaking the 30,000 levelThe latest US GDP growth was 2.7% for Q4 2022. Unemployment rate is 3.4% in January 2023. Annual inflation rate is 6.4% in January. Fed Fund Rates is 4.50%-4.75% and climbing. Manufacturing and Industrials are struggling, but not bad. Yearly retail sales minted at 6.4% in January. The Fed Rate Monitor is showing an increase for a 0.25% at a 74.50% probability and for a 0.50% at 25.5% probability. Next month, the US NFP will be released March 10th, along with the unemployment rate; March 14th is the Inflation Rate YoY; March 15th PPI MoM; and finally the FED Interest Rate Decision. This all looks good for the FED to keep raising rates and the question is, "how long can the DJ keep holding on above the 30,000. Yes the inflation data could potentially come out lower, but I am thinking that the FED thinks they have more room to raise rates and if it is true, that they are planning on raising rates a couple more times after the March Rate Decision, might be what is needed to start hammering the Dow Jones. I am thinking the inflation data before the meeting will push the thought of a 0.50% rate hike higher or lower, depending on what the printing looks like. I give it to the DJ, it is highly resistant and is managing to stay above the 30,000. But it is only a matter of time until it breaks lower.
FOREXCOM:US30Long
by DollarSaenz
Building Your First Trading Plan | Step By Step Guide 📖What is a trading plan? A trading plan is a comprehensive decision-making tool for your trading activity. It helps you decide what, when and how much to trade. A trading plan should be your own, personal plan – you could use someone else’s plan as an outline but remember that someone else’s attitude towards risk and available capital could be vastly different to yours. 📚Why do you need a trading plan? You need a trading plan because it can help you make logical trading decisions and define the parameters of your ideal trade. A good trading plan will help you to avoid making emotional decisions in the heat of the moment. ✳️TRADING PLAN CREATION STEPS: 1️⃣Outline your motivation Figuring out your motivation for trading and the time you’re willing to commit is an important step in creating your trading plan. Ask yourself why you want to become a trader and then write down what you want to achieve from trading. 2️⃣Decide how much time you can commit to trading Work out how much time you can commit to your trading activities. Can you trade while you’re at work, or do you have to manage your trades early in the mornings or late at night? If you want to make a lot of trades a day, you’ll need more time. If you’re going long on assets that will mature over a significant period of time – and plan to use stops, limits and alerts to manage your risk – you may not need many hours a day. It's also important to spend enough time preparing yourself for trading, which includes education, practising your strategies and analysing the markets. 3️⃣Define your goals Any trading goal shouldn’t just be a simple statement, it should be specific, measurable, attainable, relevant and time-bound (SMART). For example, ‘I want to increase the value of my entire portfolio by 15% in the next 12 months’. This goal is SMART because the figures are specific, you can measure your success, it’s attainable, it’s about trading, and there’s a time-frame attached to it.You should also decide what type of trader you are. Your trading style should be based on your personality, your attitude to risk, as well as the amount of time you’re willing to commit to trading. 4️⃣Choose a risk-reward ratio Before you start trading, work out how much risk you're prepared to take on – both for individual trades and your trading strategy as a whole. Deciding your risk limit is very important. Market prices are always changing and even the safest financial instruments carry some degree of risk. Some new traders prefer to take on a lower risk to test the waters, while some take on more risk in the hopes of making larger profits – this is completely up to you. It is possible to lose more times than you win and still be consistently profitable. It's all down to risk vs reward. 5️⃣Decide how much capital you have for trading Look at how much money you can afford to dedicate to trading. You should never risk more than you can afford to lose. Trading involves plenty of risk, and you could end up losing all your trading capital (or more, if you are a professional trader). Do the maths before you start and make sure you can afford the maximum potential loss on every trade. If you don't have enough trading capital to start right now, practise trading on a demo account until you do. 6️⃣Start a trading diary For a trading plan to work it needs to be backed up by a trading diary. You should use your trading diary to document your trades as this can help you find out what’s working and what isn’t.You don’t only have to include the technical details, such as the entry and exit points of the trade, but also the rationale behind your trading decisions and emotions. If you deviate from your plan, write down why you did it and what the outcome was. The more detail in your diary, the better. ❤️Please, support our work with like & comment!❤️ What do you want to learn in the next post?
TVC:GOLDEducation
by UnitedSignals
7
Will Silver be able to hit and break the 20 levelThe FED is increasing rates higher and higher and it is looking like they will increase rates past 5%. The next increase comes in March and it will either be 25 basis points or 50. A 50 basis point increase will definitely push Silver below the 20 level. Inflation is still high across all major countries and it is a battle between Central Banks fighting inflation and winning, but potentially pushing their economy into recession. Which one is more important. Fighting inflation, but pushing the economy into a recession or keeping inflation high and possible pushing a recession further out. But my plan is to get into Silver once price pushes lower. The lower the better. If price can hit 18 or lower, that would be a big opportunity to get in. I think Silver will break above the 50 lvl in 2025 as I keep thinking it is going to be a big year for all these new technologies coming out (Space, Robotics, AI, Medical, so on). Since the sentiment for the USD pushing higher is very strong, it is only inevitable for Silver to keep pushing lower. The lower it goes, maybe other countries, just like they have been doing with Gold, will start to buy it up in droves. But this is going to be around a two year play, maybe longer. So it is best to build up slowly and stay tuned for further developments in my plan.
FOREXCOM:XAGUSDLong
by DollarSaenz
1
MLFB. Can we get a Season this year or Is it all over?I've been in MLFB for a while, since around 2018/2019. MLFB attempted to establish a season in 2020/2021, but due to COVID, they were unable too. Here comes 2022, and things were looking good. They were bringing on players, coaches, bought equipment, named teams, hand a place for a camp, and had some coverage. Things again were looking good. Around June/July, the actual camp was commencing, and out of now where, MLFB could not pay their hotel bills and left players stranded. The season went out the window and the price of the stock tanked. Now in 2023, MLFB is attempting to start up a season. They were able to get about 5 million to pay bills from last year they owed and hopefully have enough to start a season. If this is the case, and they are able to start up again, will price be able to go higher? As time goes on, I'll see if price starts pushing to $0.01 and starts hitting its high of last year around $0.03. If there is some more press releases and actual broadcasting commencing, this will assist the stock pushing higher. There are some good things about MLFB, but they are not doing great in the PR department. But if MLFB can keep fighting to start a season and one actually commencing, there might be light at the end of the tunnel. I am in this stock, and this is only my thoughts. Make your own decisions and conduct your own research and analysis before deciding to get into any stocks. I'll revisit this later on and see what happens.
MLong
by DollarSaenz
Update on GBP/CAD utilizing FXCM chart instead of OandaI came across one of my GBP/CAD thoughts and and saw a pattern that was screaming at me. I don't think I saw the pattern on Oanda's charts because the data only goes back to 2003 on the Monthly Charts and on FXCM it goes back even further (1976). With his added data it is clear the price is showing an inverse head and shoulders, which adds to the probability of price pushing lower, maybe 1.40. So my conviction on this pair pushes even higher and I am highly likely going to get back into this pair with the NZD/USD. If I look at the technicals some more there are lower higher also that have happened. A high made in the 80's around 2.90, then another high in 98', around 2.67 (lower then the previous), and finally in sometime in 2015, around 2.10. A huge drop from 2.67. Price is also in a descending channel, which if price does push higher, can it really reach past the 2 lvl. Highly unlikely. Price since 2016 has attempted to push higher (which coincides with BREXIT) pushing above the 1.80 lvl in 2018, and retracing, and attempting to break the 1.80 lvl, only to fall back lower. Last year price came close to hitting 1.40 with the issues going on in the UK Government. If I am correct and price does push lower, the 1.40 will be a safe level to chose. Price could hit the 1.30 lvl. Another pair that is throwing me off though is the GBP/CHF. The pattern on the GBP/CHF is showing a strong descending wedge, which could spell out price pushing higher, and pretty significantly. The way I see this happening is if the BOE goes Super Sayian Blue Ultra Instinct and starts pushing rates up aggressively at 0.75% to 1% in succession. But this is highly unlikely as their economy walking a tight rope that has a cut in it. Additionally, it also might be a possibility if the BOE just keeps rates at 4%-5% throughout the possible recession. If so, this will line up with the BOE Governor saying that there may be the longest recession in history for the UK.
Short
by DollarSaenz
Bitcoin situation update and Trading PlanSo, in the previous idea of February 3 (I will attach), I assumed a correction in the block 21500-20800 as you can see, our scenario from this idea is perfectly implemented, for a better understanding, I strongly recommend reading this forecast and trading plan. Now to the current situation , I am now taking the side of an aggressive buyer and getting both alt and bitcoin as I was waiting for the price to come into this range . Moving on to the technical picture - we are in a strong support block , which was previously our resistance , these are the price values of $ 21500-20800 , I believe that now there is an additional accumulation of the asset with the goals of throwing into the block 28-30 k for bitcoin . IT is IMPORTANT to keep this support block as when anchoring below , the road to the next range is open . I have shown you an approximate version of the price movement , and also noted the main levels that you need to follow . If you make a trading decision about recruiting and following my proposed trading plan , then be sure to recruit partially and from the anchors , so that the recruitment process is easy for you psychologically . I 'll write a few more words about the viola , there are a lot of new , and most importantly , relevant setups for the viola set , so check it out - maybe look at something , I repeat , I 'm also starting to gradually dial the alt in this range , I 'm typing only the one that I gave in the channel . In general , I briefly described my action plan , if something is unclear , then ask in the comments . Good luck in trading .
Long
by ezzzforme