Profits
USDCAD - BuyUSDCAD currently lies within a support zone both from the horizontal support and the trendline. Its expected the react by rejecting the zone to complete the M pattern formed during the move to the downside.
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US30 Sunday analysis 3/20/22Hello traders! here is my analysis for US30, we are currently in an uptrend creating HH & HL, breaking from previous structure. The market is approaching area 34970 which is a strong level with previous support and resistance points.
1) the market can break and retest 34970 area and continue the Uptrend (HH & HL)
2) the market can reach the 34970 area and reject towards the downside to then look for short positions (LL & LH)
$VDE Energy Sector Profit Taking/Profit Protection TimeAs the energy sector is heating up, it could be time to start locking in profits or raising stops to protect profits earned from the recent run up
Energy more then likely will continue the overall uptrend in the long term as it works it way back towards its 2008 highs however from the recent short term high as the sector has run into a major resistance area over the past few years and increasing by nearly 40%+ since the start of the year to run into this area, it could just as easily pull back a big part of this move before it could be ready for the next leg higher
Bearish Sentiment on the Dollar IndexMONTHLY
We are currently trading in a bearish orderblock on the monthly and we may see a retracement into that 96.000 area
WEEKLY
Nothing much to say here, there's a bearish orderblock within the monthly orderblock that I thin we may see price trade deeper before falling
DAILY
We can see price reacting to the HTF orderblocks. If we're going to come down now I want to see a sweep below 96.520 price level
4H AND LOWER
There's nothing much to talk about on these timeframes for intermediate term trades to me so I'm going to leave that.
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feel free to check out my analysis on BTCUSD below. Thank You.
This is my current trade, Im up, but a suggestion would be nicethe blue lines represent a buy position and the red lines represent a sell position. using the fibonacci with edited percentages i was able to set up the buy and sell. the square is the 50-60% on the fib. its all based on where the majority of traders can/will put in there trades i decided to enter for some quick profits.
Solana Analysis Depression period My whole strategy is based of the emotional attachment investor have to there money , when i look at cryptos i find a euphoria point (the highest its ever been) and a depression point(where price drops and holds) , i use my Fib to find my Euohoria and depressions points , so far solana has been holding my 81 dollar price @1.618 FIb level , the hold of 81 we take it to the next euphoria TP, passing the high of 120
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BTC $31k 70% chance A repeated test line could play out here. down to 31300-3100 a 70% chance IMO, and then a bounce. Why? Because Vol is low, we are not flat we are watching exhausted bulls lay down to rest. 3100 is critical support and the longer and lower we go, the faster we will rise. US inflation, Russia, and China are all helping keeping this down. Time after time we seen lost support and almost every chart busted, even in chat the most conmen quote is "what's going on? and WTF. I think we need to tread softly here and wait. This is going to go down more for sure IMO, I do believe 30k to 32k is where support will be found, if not, then 10k and a bad month of March with an explosive April but only if BTC falls lower than 30k. When ever Rockets do load for the moon, it's going to be extremely fast with pit stops at 40k and topping at 60k to 70k The bulls are mad and waiting for revenge. Seat belts are mandatory, popcorn is recommended. GL all.
Sterling strength looking likely...Pound has picked up some strength off the back of the GDP growth rate this morning. Referring back the the current state of the USD on a fundamental level, it provides a nice confluence to look for long opportunities on the weekly, daily and 4-hour timeframes on GBP/USD.
The 1.3700 handle just over 100 pips north of the current market price could provide a nice landing spot for the pair with some great risk:reward spots lining up.
Overall we can see this bullish mood continuing into the next trading week.
How Much Can You Make Trading Forex?Mark Twain once said: “There are lies, damn lies and statistics”. People lie, numbers usually don’t, unless manipulated by liars. If you ask somebody trying to sell you a course or some other products related to the market, they’ll promise you 3x of your money in a week and convince you can start in couple days. Sounds too good to be true? Because it is.
One way to return to reality in the industry where everybody is showing off their gains and concealing loses is to look at other financial aspects of life (not in a self-diminishing way, but rather self-awaking).
Average General Doctors make 41.000$/year in UK. What makes you think you can make that much in a month with even a 100.000$ account?
Banks deposit interests are currently at low of 0.1-0.25%/year. This is self-explanatory as banks are perceived as one of the most conservative ways of keeping your money.
S&P500 averages around 9.4%/year. 47% of Americans have invested one way or another (pension funds and 401k’s) into S&P500 as a good balance between security and profitability. What do you think is the risk should be to make 25x of that in a year? Answer: 3.5-5% per trade.
Most of the market participants don't risk more than 1%/trade. Why wouldn’t they risk 5% per trade for more gains? Answer: you’ll get wiped out in couple trades :/
Becoming a lawyer takes 7 years on average. Why would somebody think that watching 2 videos on YouTube or reading 7 articles is enough to place a trade? Answer: Here, unfortunately, some brokers and traders try to convince newbies, in order to take advantage of them quickly. However, trust us, trading is no different than other full-time skills you have to acquire over long periods of time.
Leading investment funds experience ROI drops every 3.4 months. Would you still think profitability 12/12 months a year is realistic? Answer: It is not.
Bottom Line: Trading Forex is an interesting and rewarding way of making money, but the truth is even the best traders don’t usually make more than 5-15% a month on average. On the other hand, %s don’t matter. What matters is your personal demands! If you need to make 1000$ as a side income to add more comfortability to your life a 10.000-20.000$ account with a proper trading plan should do the job. If you’re trying to become financially independent do the math accordingly 😊
Oh and also, if somebody tries to tell you something marked red in the Myths section, respectfully, stay away from them! (RUN!)