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Priceactiontrading

PRICE ACTION TRADING | THREE TYPES OF TRIANGLES YOU MUST KNOW 📐 Hey traders, In this post, we will discuss 3 simple and profitable types of a triangle pattern. 1️⃣The first type of triangle is called a descending triangle. It is a reversal price action pattern that quite accurately indicates the exhaustion of a bullish trend. Setting a new higher high the market retraces and sets a higher low, then bulls start pushing again but are not able to retest a current high and instead the price sets a lower high and drops to the level of the last higher low setting an equal low. The price keeps trading in such a manner setting lower highs and equal lows till the price sets a new lower low. Most of the time it gives a very accurate signal of a coming bearish move. Please, note that a triangle formation by itself does not give an accurate short signal. The trigger that you should wait for is a formation of a new lower low. 2️⃣The second type of triangle is called a symmetrical triangle. It is a classic indecision pattern. It can be formed in a bullish, bearish trend, or sideways market. The price action starts contracting within a narrowing range setting lower highs and higher lows. Based on them, two trend lines can be drawn. Breakout of one of the trend lines with a quite high probability indicates a future direction of the market. 3️⃣The third type of triangle is called an ascending triangle. It is a reversal price action pattern that quite accurately indicates the exhaustion of a bearish trend. Setting a new lower low the market retraces and sets a lower high, then bears start pushing again but are not able to retest a current low and instead the price sets a higher low and bounces to the level of the last lower high setting an equal high. The price keeps trading in such a manner setting higher lows and equal highs till the price sets a new higher high. Most of the time it gives a very accurate signal of a coming bullish move. 📍Please, note that a triangle formation by itself does not give an accurate long signal. The trigger that you should wait for is a formation of a new higher high. Learn to recognize such triangles and you will see how accurate they are. Let me know what pattern do you want to learn in the next post? ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
OANDA:XAUUSDEducation
by VasilyTrader
4
EURJPY: Your Trading Plan 🇪🇺🇯🇵 I spotted a very cute bullish accumulation pattern on EURJPY: the price keeps setting higher lows and equals highs respecting a strong horizontal resistance. To catch a bullish continuation, wait for a bullish breakout of 136.8 resistance. Then a bullish move will be expected to 137.86 / 139.7 levels. If the price breaks a trend line of a triangle, the setup will be invalid. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
Long
by VasilyTrader
5
DOLLAR INDEX (DXY) Bearish Wave is Coming? 💵 Hey traders, This week, Dollar Index broke and closed below key daily structure support. Now we see its retest. Analyzing the reaction of the price to the broke structure, I spotted a cute double top formation on 1H time frame. Its neckline breakout will most likely trigger a strong bearish move. First goal - 101.7 ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
TVC:DXYShort
by VasilyTrader
9
Dow Jones Index (US30): Can We Go Lower? 📈 Hey traders, As I predicted, US30 dropped again this week and set a new lower low lower close on a daily. The market is currently trading within a falling parallel channel perfectly respecting its boundaries. Next week I will expect a bearish trend continuation within the channel. Be prepared for a further decline. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
UShort
by VasilyTrader
3
3 Important Terms Every Trader Must Know | Trading Basics📚 Hey traders, In this post, we will discuss 3 very important market situations that every trader must be able to recognize: breakout, retest, and fakeout. ❗️Please, note that the essential element of all these terms is structure: vertical and horizontal key levels. 📍Breakout is a situation when the market breaks the identified horizontal support or resistance, or a vertical trend line. Breakout is a very important event that signifies the willingness of buyers/sellers to violate the structures. Violation of support signifies a strong selling pressure while a violation of resistance signifies a high buying momentum. Usually, the structure breakout is confirmed with a candle close. For confirmation of a breakout of support, a candle close below that is needed. For confirmation of a breakout of resistance, a candle close above is required. 📍Retest is the situation when the price returns back to broken horizontal support or resistance, or a vertical trend line after a confirmed breakout. For a structure breakout, high trading volumes are needed. Usually, after a breakout, the market participants are locally exhausted and a correctional movement follows. That may lead to a retest of a broken structure. Most of the time, after a retest a strong impulse follows. For that reason, for many traders, the retest is applied for trading entries. 📍Fakeout or false breakout is the situation when the price has not enough strength to maintain its direction after a retest of a broken structure. Instead, the market returns back below/above the broken resistance/support. Fakeout is one of the main reasons, why structure traders lose money. One of the ways to avoid fakeout is to monitor trading volumes during a structure breakout. A volume spike is needed to confirm the strength of the market participants while low volumes most of the time signify a manipulation. Learn to spot breakouts and false ones, and try to trade on a retest. Let me know what do you want to learn in the next post? ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
BITSTAMP:BTCUSD
by VasilyTrader
10
USDCHF: Your Trading Plan For Today 🇺🇸🇨🇭 USDCHF is taking off from a horizontal key level. To buy the pair with a confirmation, watch a double bottom formation on 1H time frame. You need a bullish breakout of its neckline 0.9742 - 0.9762 to confirm a coming bullish move. Goals will be 0.9825 / 0.9855. If the price sets a new lower low, a setup will be invalid. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
Long
by VasilyTrader
5
GBPJPY: Your Trading Plan For Today 🇬🇧🇯🇵 Hey traders, GBPJPY is approaching a very peculiar zone of confluence on a 4H: we see a perfect match between a horizontal resistance, falling trend line and fib.retracements of the last two impulses. To catch a bearish move from the underlined zone, wait for a breakout a bearish flag pattern. You need 4H candle close below its support to confirm that. Then a bearish continuation will be expected at least to 156.55 level. If the price breaks the blue zone to the upside, the setup will be invalid. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
Short
by VasilyTrader
12
Interesting Price action on GBPUSDVery interesting Price action on GBPUSD, Price is currently trading around 1.24250, We have strong Psychological resistance at 1.2500 which is also untested and could hold as a strong level for price to reject, We need to keep in mind that price has a current short term bullish trend due to strong weekly support at 1.22 which has held. This could drive the price up into 1.26250 where I will then be looking for long opportunities, right now we can only focus on the evidence in front of us, we have price still in a strong downtrend based on higher timeframes, and we have a strong psychological resistance approaching, and strong potential for price to reject, so, for now, I will be looking at potential shorting opportunities if the price remains below 1.2500 where price could dive into 1.22680.
by Tradebudz
ow to Apply Trailing Stop | PRICE ACTION TRADING 📚 Hey traders, In this post, I will share with you my strategy to apply a trailing stop. Please, note that I am applying a trailing stop only in trend-following trades and only when a trade is opened on a key level. I trade price action patterns, so the following technique will be appropriate primarily for price action traders. Moreover, my entries are strictly on a retest. 1️⃣ Spotting a price action pattern I am always waiting for its neckline breakout. (if we talk about different channels, then by a neckline we mean its trend line) Once I see a candle close below/above the neckline, I set my sell/buy limit order on a retest. Stop loss will strictly lie below the lows of the pattern if we buy and above the highs of the pattern if we sell. 2️⃣ Once we are in a trade, you should measure the pattern's range (distance from its high to its low based on wicks) and then project that range from the entry to the direction of the trade. In the picture, the pattern range and its projection are the underlined blue areas. Once the price reaches the projection of the pattern's range, you should move your stop loss to entry and make your position risk-free. Move stop to breakeven in traders' slang. 3️⃣ Then you should let the market go. 📈If you are holding a long position you should let the market retrace and set a higher low and then a new higher high or AT LEAST an equal high. Once these conditions are met you can trail your stop and set it below the last higher low. 📉If you are holding a short position you should let the market retrace and set a lower high and then a new lower low or AT LEAST an equal low. Once these conditions are met you can trail your stop and set it above the last lower high. Catching a trending market you should trail your stop based on new higher lows / lower highs that the price sets. Occasionally you will catch big winners. How do you apply a trailing stop? ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
BITSTAMP:BTCUSDEducation
by VasilyTrader
5
BTCUSDT intraday reached the peak of the last upward swingBTCUSDT intraday reached the peak of the last upward swing. Now, as we can see on this chart, BTCUSDT price action is reacting to 78.6% Fibonacci retracement level which is a key level to shorts. Actually the price is in a potential reversal zone. Considering the reversal from this peak the price accomplished a prior zizag with this pullback for a expected downward. The local support is the demand to reached in a 2-day swing trade. Overbought condition as can be read on Ehlers Stochatisc CG oscillator. Plus a comparing price line from LinkdownUSDT of Binance to show to you an option to avoid of the liquidity risk. Don't be FOMOed and a moonboi will safe you of losts.
Short
by firmestudio
GOLD (XAUUSD): Time to Grow🥇 Hey traders, After reaching a major rising trend line on a daily, Gold leaves a lot of bullish clues. The price broke and closed above a resistance line of a falling wedge pattern on 4h. It looks like the market is preparing for a strong bullish move. I will expect a bullish continuation to 1887 / 1906 levels. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
OANDA:XAUUSDLong
by VasilyTrader
13