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Pressure

Building Success In PineScript - The Ment Pressure SystemAfter more than two weeks of playing around with Pinescript, I've managed to put together some really cool tools for my followers/subscribers. The idea of price pressure intrigued me, so I decided to create something based on it. Ideally, I planned to build something that helped traders find and execute better trades. It is difficult to identify chop vs. trending in any market/interval. My goal was to create a small suite of tools to help traders identify better trade setups. I still believe I have more work to do with these pressure tools, but I'm very happy with how they work. I did learn some "tricks" with Pinescript related to how variables and processes work (of course, by trial and error). Watching the code run in real-time has been fun (watching a 2 min ES chart). I can't wait to see how my followers use these tools and develop new ways to deploy them efficiently. What are your thoughts? Anything I can do to improve? Get some. #trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
CME_MINI:ES1!Education
by BradMatheny
Fundamental Shifting of USDJPY's Risk Sentiment Pressures PriceGreetings, Fellow Traders, Technicals and Chart Explanation Indicators Trendline: A trendline is a diagonal line connecting at least two price points, typically peaks or troughs, to determine the overall direction of a trend. In this case, the downward trendline suggests a prevailing bearish trend in USDJPY. Resistance: Resistance is a price level where upward momentum is likely to stall or reverse. In the USDJPY chart, the identified resistance level could act as a barrier for the price to break through, supporting the bearish outlook. Downward Pressure: Downward pressure refers to the selling force driving the price lower. In the USDJPY chart, the repeated instances of price retracing toward the trendline and resistance level indicate ongoing downward pressure from bears. Double Top Pattern: A double top pattern is a bearish reversal pattern formed when the price attempts to break upward twice but fails to surpass a previous resistance level. The double-top pattern observed in the USDJPY chart suggests a potential reversal of the upward trend and a continuation of the bearish trend. Target Zone: A target zone is a price range that a trend is expected to reach based on technical analysis. In this case, the lower target price at $145.16 represents a potential area where the bearish trend could find support. Forecast: A forecast is a prediction about the future movement of a price based on technical analysis and market sentiment. In this instance, the forecast suggests a potential continuation of the bearish trend in USDJPY, with the price potentially reaching the lower target zone. Chart As a discerning observer of market tendencies, I've identified a potential double top pattern on the USDJPY chart, preceding the recent bearish price action that gathered momentum and drove prices towards lower targets. This observable pattern, depicted above the candle formations, harmonizes with the prevailing downward trendline. Repeated instances of downward pressure exerted by bears, symbolized by the red circles, have guided the USD's descent toward this trendline. Currently, I discern a price range confined between resistance and the lower target price of $145.16. Therefore, I anticipate the potential continuation of this bearish trend. News and Fundamental Analytics Japan's Economy Stagnates as Yen Rebounds: Japan's economy, the third-largest in the world, grew at a mere 0.2% annualized rate in the third quarter of 2023, falling short of expectations and indicating signs of stagnation. This subdued economic growth could weigh on the Japanese yen, potentially further weakening USDJPY. US Economy Faces Recession Fears: The US economy has exhibited signs of slowing growth, raising concerns about a potential recession. If economic conditions in the US deteriorate, the dollar could lose its appeal, contributing to a further decline in USDJPY. Geopolitical Tensions Weigh on Risk Sentiment: Geopolitical tensions surrounding the war in Ukraine and other global conflicts have dampened risk appetite among investors. This risk-averse sentiment could drive investors towards safe-haven assets like the yen, further weakening USDJPY. Technical Indicators Signal Bearish Momentum: Technical indicators on the USDJPY chart, such as the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD), suggest ongoing bearish momentum. These indicators could provide further confirmation of the downward trend in USDJPY. Please note that these observations are intended for entertainment purposes only and should not be construed as investment advice. It is crucial to conduct thorough research and make informed decisions when managing your investments. Warm regards, Ely
Short
by Elysian_Mind
2
2204 4h Plan Gold to sell from pressure zoneHello traders GOLD yesterday Wednesday, gold seems like pushing price to finish a final wave on this 4h chart. Don’t forget this pressure line on 4h chart. By this line, it make gold’s last impulse leg so short and very easy to be pressured from there. And if you check it like this three arrows , you can understand what I am talking about. Each arrow or impulse leg on also has their lower level five waves inside. And after such long-term five-wave swing, gold is possible to pull down for a deep correction. All those supports are still above fibo 50 on daily swing. So nothing is impossible. Go back to 4h chart, plan on gold today is waiting for confirming signal to sell for a potential RR >5 by targeting support 4 position. After that, maybe next week we could plan to buy on those support zone. Good luck!! Dont forget to support me with likes or comment down there. LESS IS MORE!
OANDA:XAUUSDShort
by FUNTRADER-Vera
14