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Priceactionstrategy

EURCAD: Bearish Trend Continuation 🇪🇺🇨🇦 Hey traders, EURCAD is trading in a bearish trend. Setting a new structure low last week, the pair retraced to strong resistance. On that, the price formed multiple dodji candles, and then the pair formed a double top formation. Its neckline breakout confirms a highly probable bearish continuation. I expect a down move to 1.34 ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
Short
by VasilyTrader
3
Copper: Bullish Move From Key Level Copper reached a very peculiar confluence zone: we see a perfect match between a horizontal daily demand area, 618 and 786 retracement levels of the last two bullish impulses. Analyzing the candlesticks, we may spot a nice dodji candle being formed on that structure. Then, analyzing an intraday perspective, I spotted a bullish breakout of a falling wedge pattern formation. I assume that it will trigger a bullish move. Resistances on focus: 800 / 805 ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
MCX:COPPER1!Long
by VasilyTrader
8
AUDCAD: Your Trading Plan For Today 🇦🇺🇨🇦 On a live stream today we discussed a potential short trade on AUDCAD: the pair is currently approaching a strong daily structure resistance. On an hourly time frame, the price is coiling. I spotted a tiny head and shoulders pattern. 0.932 - 0.9327 is its neckline. Wait for an hourly candle close below that to confirm a breakout. Then short aggressively or on a retest. Your intraday goals will be 0.93 / 0.928 If the price sets a new high on hourly, the setup will be invalid. ❤️Please, support this idea with like and comment!❤️
Short
by VasilyTrader
22
PRICE ACTION TRADING | INVERTED HEAD & SHOULDERS PATTERN 🔰 Hey traders, Inverted head and shoulders pattern is a classic reversal pattern. It signifies the weakness of buyers in a bearish trend and a bullish accumulation. ⭐️The pattern has a very peculiar price action structure: Trading in a bearish trend the price sets a lower low and retraces setting a lower high (left shoulder), then the market goes lower setting a new low but instead of setting a new lower high, the price returns back to the level of a previous lower high setting an equal high (head). After that bears start pushing again but with an amplifying bullish pressure, the market sets a higher low and returns back to equal highs setting a new one (right shoulder). 🔔Equal highs form a horizontal structure called a neckline. Once the pattern is formed it is still not a trend reversal predictor though. The trigger that is applied to confirm a trend reversal is a bullish breakout of a neckline of the pattern. 📈Then a long position can be opened. For conservative trading, a retest entry is suggested. Safest stop is lying at least below the right shoulder. However, in case the heights of the right shoulder and head are almost equal it is highly recommendable to set a stop loss below the head level. 🎯For targets look for the closest strong structure resistances. What pattern do you want to learn in the next post? ❤️Please, support this idea with like and comment!❤️
BITSTAMP:BTCUSDEducation
by VasilyTrader
7
CRUDE OIL (WTI) Important Structure to Watch 🛢 Hey traders, Crude oil is very close to a major rising trend line on a daily. From that we will look for buying opportunities. To buy with a confirmation watch a bullish flag pattern on 4H time frame. Your trigger to buy will be its bullish breakout. Then buy aggressively or on a retest. Local targets will be: 108.0 / 114.3 If the price breaks a trend line to the downside, the setup will be invalid and then the market may drop lower. ❤️Please, support this idea with like and comment!❤️
TVC:USOILLong
by VasilyTrader
5
How to Stay One Step Ahead of the MarketHey Guys! As traders, we always want the sense of being one step ahead of the market. In other words, what's happening with current price should not be of consequence to your trading. It's just another bit of information that's added into your analysis of what will happen next. Now the polar opposite of this situation is chasing the market. Where a trader is reacting to what price is doing currently. After years of trading, one thing I can state with confidence, is that if you're chasing the market and reacting to current price, you won't make it in trading in the long-term. I mean, you may get lucky from time to time, but ultimately you're luck will run out. So the question becomes how does a trader stay one step ahead of the market? At the basic level, if a trader can stop focusing on price "direction", and instead begin focusing how price travels from point A to B, they have a shot at being one step ahead of the market. Let me explain. As you guys know, on the Eur/Jpy pair during the month of February 2022, I was consistently taking short trades as price pulled back to the 132.80 levels. Now this is even if price at the moment of entry was moving up. ( I wasn't focusing on price direction) Instead, I was focusing on "how" price moved from point A(on the chart) to point B.(on the chart) Initially, there was 1 minute strong long strength sparking the explosive move up however, there was even stronger 1h strong short strength confirmed on the lower time frames in the beginning of the 1st range. At this point I was already viewing this pair to be short biased,(I was one step ahead of the market) and even if price continued up, as long as there was no confirmation of further long strength I will continue entering short positions. I was able to confidently take multiple short entries because "how" price was moving from point A to point B was not indicative of a long market. Or like I always say, " The lower time frame's price action wasn't complimenting the higher time frames move up." Then finally, there was further 5 minute confirmation of strong short strength and price began its descent. However, if a trader at this point was basing their trades on "current price direction", they're likely to take long positions on this pullback for a possible next move up. A devasting outcome as you can see. So if you always find yourself on the wrong side of the market, firstly, stop putting value onto current price direction. It is just a result of previous price action. Begin asking yourself, "What is the context of the current price direction". Or even better, learn how to read price to know how price traveled from point A to point B and begin staying one step ahead market. For if you a can do this, perhaps you will have a shot at staying in this game for the long haul. I'm sure you guys have questions! Don't hesitate to ask! I'll gladly help! Have a great day guys! Ken
Education
by TradingForexPriceAction
6