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Price-action

EURUSD short Update - Supply Demand - h4Hello Traders! The last analysis was great. EURUSD dropped a lot. You can see on the charts. I adapt it for you and we can see how exactly EURUSD respected all Supply Zones. It dropped, then it went back up to grab more liquidity and again drop. Very beautiful. Here you can really see how nice Supply and Demand works. Now we have some new levels on the chart and also a Swap Zone. Swap Zones are not considered as strong as a fresh Supply or Demand Zone but you should still keep an eye on them. This is why I marked two possible scenarios on the charts. What can we expect: A retracement on EURUSD and afterwards a great drop from one of the two zones. On the long run we could see it dropping more but we will see. It is not clear yet. But I also marked for you a daily Demand Zone. That was my Idea and I hope you liked it. Please leave a LIKE if you like the content. In the comment section you can share your view and ask questions. Thank you and we will see next time - Darius.
Short
by DariusFxTrading
2
Technical analysis definedTechnical analysis has been defined as the art of identifying a trend reversal at a relatively early stage and riding on that trend until the weight of evidence shows or proves that the trend has reversed. This definition has influenced my choice of strategies and why I chose price patterns to trade the forex market. Here is how I do it according to the definition above: a. The art of identifying a trend reversal: I use trendline breaks to do this. I used to rely on swing points. For uptrends, I would be waiting for when the last swing low is broken, and for downtrends, when the last swing high is breached. But now, I use the break of trendlines. On the GBPUSD daily chart, you could see how the trendline break and using the 123 pattern could help one to identify and enter the trend early. b. Riding on the trend: I use trailing stops to ride a trend when I have hopped into the trend so as to lock in my profits before the trend reverses. I place the trailing stop at logical levels in the price movement. For downtrends, at swing highs and for uptrends, at swing lows, because if price comes back to this levels, the trend has reversed. c. Until weight of evidence proves price has reversed: I would ride a trend until the trendline gets broken or I get stopped when price hits the trailing stop loss. The two charts below contrasts and compares the use of trailing stops and trendlines to ride the trend and exit when trend has reversed. The first, using trailing stops, would give you a net pip profit of 5393.8 pips. The second, using a trendline, would have given you better profits. The choice is yours. Both methods are good. As I said in another article, I don’t trade price action in isolation. I look for other signs like momentum, volatility, and the story the price action tells before deciding on a course to take. Some traders trading forex would use volumes which I have considered in the past, but I think that volumes are unreliable because the forex market is decentralized and different forex brokers would give different output for volumes. Just my POV though.
Education
by Emekadavid
USDCAD both directions, let's get paid.Hello ladies & gentleman, I wanted to show my perspective on USDCAD As I Illustrate in this video, I'm expecting USDCAD to breakout of this next level and retest it, to take a trade all the way up to the next level that confluences to the trendline. Whenever price get to that area I'd like to see some good impulsive movement to the down side, expecting a bearish flag, flat flag, whatever continuation pattern comes up first, to take a trade and capitalize all the way down. I'd like to see / know what you guys are expecting from this pair, any commentary will be well received. Hope you enjoyed the idea!.
Long
by olmedomanuel_
1
AUDNZD possible shortHello ladies & gentleman, I wanted to show my perspective on AUDNZD With what price has showed us so far, I'm expecting price to continue with the bearish pressure. As I showed you guys on the video, I'm waiting for price to just breakout, retest, and start to create bearish impulses. Target is small since I am expecting price too to give us a bigger continuation pattern to continue to go lower. In case such thing does not happen, then every structural level that price breaks down and retest, could be a pretty good opportunity to scale in. The 2nd scenario that I illustrated on the charts could take a couple of more weeks, where we could be able to capitalize on small trades inside of the bigger correction, but for now, short is what I am going to be trading. Expecting Stop losses of 10 to 15 pips as maximum, and looking for 1:3 Risk Reward Ratio! Hope you liked the idea! Leave any comments!.
Short
by olmedomanuel_
AUDCHF possible ScenariosHello ladies & gentleman, I wanted to show my perspective on AUDCHF. I see only two possible scenarios with what we have right now, The 1st, price either decides to make one more bearish impulse and then correct in a bigger structure. Or the 2nd, price decides to start correcting as soon as market opens, giving us a bigger structure. In the 1st scenario we would be taking a trade on the breakout of the smaller structure we saw, with a little profit and then look for what price decides to do next. In the 2nd scenario we should just wait for price to breakout of the structure, to then continue to the lower side. In the 1st scenario we would be using a stop loss of 5 to 10 pips, nothing more than that, and in the 2nd we would probably have a higher stop loss. Hope you like the idea!.
Short
by olmedomanuel_
Why Price patterns work. Price patterns are patterns that were made by price based on the relationship between time and the movement of price on a price chart. They could be based on a single bar or candlestick, two or more, or even several bars or candlesticks. For now, I would be using just bars. They could be just for one session based on the timeframe or several sessions or days. The charts below illustrate some bars Single bars Multiple bars Some of the reasons why price patterns work are: 1. Prices are determined solely by people’s changing attitudes towards the emerging fundamentals. That means, prices are determined by psychology. Garfield Drew is quoted as saying that: “Stocks don’t sell for what they worth, but for what people think they are worth.” One recent example of people’s changing attitude is the recent selloff in gold that was experienced at the heart of the Covid-19 pandemic. People thought gold being a safe haven could rise rapidly in prices, but for two weeks between March 9 and March 19, the price of gold fell by 14%. 2. Market prices are not random events. People’s changing attitudes towards the value of an asset moves in trends and trends tend to perpetuate. An uptrend is expected to keep going up until the market psychology changes and the same for a downtrend. The shifts in these attitudes are usually captured by price patterns. GBPUSD chart below showing how a shift in trend due to market sentiment is captured by the 123 pattern and trendline very perfectly. A huge rally ensued. Notes on my observations: 1. Price patterns should not be used in isolation. When I trade price pattern I use confluence of the price pattern with support and resistance levels such as horizontal support and resistance, diagonal support and resistance from trendlines, and Fibonacci levels. 2. Also, you should take note of the underlying psychology that gave rise to the development of the price pattern. I generally trade pullbacks and reversal patterns because these give price actions that conform with the underlying psychology of the market in trends.
Education
by Emekadavid
Lupin on weekly chart looking weak.NSE:LUPIN Lets Read The Chart And Observe It If you see the tail candle of 9th March 2020 week you can clearly see prices was rejected from the low of 504 and close at 605 volume was also good (Above Average). Next candle of 16th march 2020 is also bullish candle with higher volume than previous candle. The 23th march 2020 candle was strong bearish candle form in supply area of 9th March candle. Now come to the candle of 30th march nice strong bullish candle every retailer or price action trader who don't respect volume will now start thinking bull run has started, and start buying at any price they are getting. But look at volume its a above average volume but lover than previous volume. In the same week of 30th March 2020 we all started to see or hear from every source that Pharma Stock are going to boom on bias of COVID19, India will be supplying medicines to U.S and other major countries. And retailers started getting in and start buying. Prices were getting higher till the week of 13th April 2020. Volume is still higher (Slightly Lower Than Previous Candle Volume) enough but range of the candle is now get narrow than all previous candles we observe till now. There also a good wick to this candle which clearly start indicating someone is start capping the prices or supply getting over the demand. Clearly at this point stock is weak. Now let we see what happens in next two candles. Candle of 20th April 2020 week one can immediately say its a bullish candle as it's closes higher with the highest volume we have seen and also a tail which indicate strong bullish sentiments. But can anyone think why the range is gets narrowed than previous bullish candles. Again clear indication of supply is happening in background. And we are now also in a territory of consolidation happened previously. Now lets see what happened in last week (27th April 2020). Candle with tail gap up open at 899.95 make high of 906 find strong resistance at 901.75 made low of 811.55 closes near the low 835.30 volume above average not abnormal clear indication Bear Taken Over The Bull Move. Note: 817.3 Is Support Level So We Can See Some Consolidation Between 817-901 Before Downtrend Started In Lupin.
NSE:LUPINShort
by PriceVolumeRider
The possibility of something is cooking in Bitcoin kitchen...!All the major resistance and support plotted on the chart. The price breaking out any of these R 9083 and R 8398 will give us new direction of trend . The excess/penetration has been seen out side of parallel channel/value area. The price can be dump and damp between Upper Bound: Parallel Channel and Lower Bound: Parallel Channel. Traders can trade both either buy at pepper bound or sell at lower bound until breakout the channel with confirmation. Let take a closest look with different angles: Very Low Volume Narrow range in price with series of almost no body of candle. price rotation remarkable point: price falling with vol. volume before the price rotation. ---> You will get big move shortly with volume surged .
BITSTAMP:BTCUSD
by Jay_shree
228