Get started

Risk

GBP/JPY - Neutral (Risk Off) Downward wedge 4 HR ChartWaiting on Japanese session reaction to GBP pullback. (PatiencePays) If there is a breakout off the downward wedge (Long position) Take profit 1: 140.000 (Resistance & just below 50% Fibonacci Retracement) Take Profit 2: 142.650 (fibonacci Retracement 61%) Fundamentals affecting decision: Long Position positive news on trade war negotiations and continuation in reversal of the DOW/S&P 500. Short position wedge continuation (Risk Off) Safe Haven Currency considering the uncertainty in the market.
by darrenkav25
BTC, a strong shorting opportunity looms Background Traders, investors, the public and the crypto world spent the beginning of 2018 fixated on the parabolic rise and equally sudden plummet from 20k to 6,000. By mid-2018, it was clear that the bull run was over and a massive descending triangle was forming with a base at around 6,000. The Minsky moment came at the end of 2018 with an introductory drop to 5,500 followed by a plummet which finally found support at 3,200. Since then, BTC has rocketed ahead, becoming one of the best asset classes of 2019, rising nearly 60% to 6,200 at the time of writing and crushing all other traditional asset classes. Resistance ahead The focus today is on 2018’s year long descending triangle and support base at 6,000 - 6,500 which provides todays opportunity. This support zone bounced sellers 5 times during 2018 and was the focus of crypto traders all over the world. Now with price reaching this important technical level, traders will undoubtedly be fixated on such an important technical level and may see this as an excuse to take profits, wait on the side lines or flip and open a short. Bearish divergence RSI levels have also been moving into overbought territory for the past month on the daily. Bear in mind that this by itself is a terrible reason to short given that BTC is so sentiment driven, however a bearish divergence (higher price with lower RSI) is forming on the daily, giving support to our thesis. Plan As we are shorting into a bullish trend, we need to be cautious, scaling into our position and re evaluating frequently. I recommend scaling into shorts around the 6,400 region, watching for double tops and signs of exhaustion on the 4hr. As price is still trending up, we will have tight stops, giving up quickly at around the 6,600 area. There are some special situations where we are just going to run away immediately, if one of Bitcoin’s infamous BGD wicks up rapidly and through our entry range, we are not going to enter any position. So, we will not leave any limit orders overnight and instead monitor our entries closely. If there is fundamental news, such as more clarity around Bakkt, US crypto regulations, or news, like a resolution to the Binance hack or Bitfinex situation then we will also have to stay on the side lines and potentially go long. Take profit levels are at the support levels of 5,600 and 5,200 with deeper profit levels at 4,200. Once again, we will be re evaluating frequently, looking for signs of weaknesses at each level before determining whether to continue.
BITMEX:BTCUSD.PShort
by RDaneelSeldon
The only way to profit from trading is discipline. Wrong Wrong !We all come to trading for freedom, financial freedom, free of work, trade whenever and wherever we want to... Now, everyone told you that you must be disciplined in order to be profitable from trading. Can you do it? Instead of discipline, you should be responsible... Yes, Responsibilities will change your trading. You are responsible for protecting your account, working on time, your health and etc... Please watch it and like and share if you think this video is useful. Thank you for watching!
Education
by FxFran
Psych Hack #0007 - decision-making - it's what we do. Everybody - I mean everybody - who is actively trading has to make decisions. Entry points, exit points, trailing stops, stop-losses and so on - they all involve decisions. But what affects the integrity of our decision-making ? Some say we don't need to make decisions, once we follow a mechanical trading plan. I disagree 100%. If everybody could follow a mechanical trading plan and be millionaires it would have happened already - it ain't happening! End of. I say that our decisions are made in our heads - our brains, our minds. I say that I (we) need to know about the pitfalls in decision-making - pitfalls that may affect our minds. I'm sharing some things I've learned with others. These may not be of relevance to everybody. However, as the hard evidence shows that between 75 and 90% of all traders lose money consistently, I think it should be of relevance to a majority. Declaration : None of this is advice - even if so construed. Opinions on the two charts shown are not be relied upon. Your losses are entirely your own.
Education
by Captain_Walker
AUDCAD (1D): Possible short positionAUDCAD (1d) can break north or south. The position here is very tricky. Long squeezes of momentum and ATR resistance can be followed by price going either way. At this time only, there's more on the chart suggesting probability for the south. On the last bullish limb up to 3rd Dec 2018, price retraced down to a 76.4% Fib before a struggling recovery from 1st March 2018 of a 50% fib. This latest retracement noreth looks weak - but of course strange things can happen. My probability estimate is for the south. How wrong I am will be limited by a stop loss. No pain, no gain. :)
Short
by Captain_Walker
COTD - 12/04 XAUUSD Revisiting our Chart of the Day from Tuesday, where we took a look at the safe haven asset of Gold. On Tuesday we were seeing Gold catching a bid and trading higher on the back of a softer dollar and investors cycling out of riskier assets and aligning themselves with the risk-off assets. We discussed the longer-term setup of the head & shoulders pattern forming and also the declining trendline that has been capping the asset and causing the lower highs. As we look at it now, the U.S. dollar was on the front foot yesterday and as investors cycle back out of safe-haven assets we can see that Gold meets the declining trend line and fails just as it touches it, we have some support today on the weekly pivot level, but for the time being the original two ideas are still in play as we are yet to see a break of the neckline on the head & shoulders formation or a convincing push above the trendline. OANDA:XAUUSD
OANDA:XAUUSD
by Alex_GoMarkets
END OF DOWN TREND? POSSIBLE 600 PIP TRADEGood day risk takers, The Market has been in an intermediate down trend since early April 2018, for the first two months of the downtrend it had a strong momentum. Market then started to run out of steam but slowly pushing down until entering an 11 month channel with occasional fake outs to trap sellers and buyers. In November 2018 Market tested support at 1.1216 which is a very important level which held in May-June 2017 and November 2016. Price failed to break through and continued in its channel until testing the support again in 09 March 2019 and now which is current market price (02 April 2019). We see divergence on the weekly time frame for the 14 period RSI which indicates a reversal is eminent. The question we have to answer now is that is this the end of a downtrend(intermediate), there is an 11 year old trend line which the market respects and could possibly be the long term target if the market were to reverse which is also a resistance for the primary downtrend. In terms of fundamentals the US-China trade talks are still the main issue of concern, there is also Brexit for the Euro and Quantitative Easing, all these would be instrumental in driving the pair up to the 1.1800 which is possible were the trend line would extend to at the time.
Long
by ZAYN1001
Further downside unlocked in GoldWe have some important updates here on Gold after the previous chart (see attached: "Large triangle forming...?"). It is now clear we are in the final leg of an ABC sequence. It is time to start paying attention to the Gold chart over the coming weeks, there is a very strong argument to be made for a top being formed here. This can retrace as much as 1255 here in another leg lower. To the other side, if we price starts to stabilise around 1325 then we may have set the low in the "E" chapter for those following the triangle. So to put it simply, what we have on the menu here to trade is the possibility of a top at 1325. If resistance holds here then we are unlocking a move back towards 1255 before eventually putting scaffolding up around a material low. Alternatively, I will be ready to add upside exposure should be crack the 1325. Good luck all those trading Gold for Spring.
FOREXCOM:XAUUSDShort
by ridethepig
[ADX/BTC] ADEX COULD BREAK HIGHER [ 100-500% POTENTIAL PROFIT ]#ADX / BTC ( Binance, Bittrex ) Buy Range : 3000-3100 Stop Loss : Not recommend Target 1 : 5450 Target 2 : 9900 Target 3 : 15450 - Adx backed to support on USD term and a bit lower on BTC currency - Very nice risk/reward to invest right now and wait for huge gains - Weekly RSI near touched oversold zone - Daily Chart looks good on the last days ( Rsi going up , MACD crossing, Moving averages started to support ... ) - 4H Ichimoku cloud has been broken and is below candles like support - Good fundamentals behind this project - Very cheap coin - Altcoin bull run could offer 5x of profits - Remember manage correctly your stack
Long
by MikeCryptoSignals
3
Short USD/JPY via risk=> Here we are isolating the Yen once more and expecting a worsening outlook of US assets to continue which will raise the prospect of asset repatriation out of the US. Whilst risk may be rebounding temporarily as the FED attempts a dovish shift, and US-China trade tensions are likely to continue de-escalating, USDJPY will still like remain on offer amid broader USD weakness. Here we also expect the rebound in risk sentiment to be temporary rather than fixed, meaning JPY will see some inflows. If Japanese banks tighten conditions further we will have a greater incentive for real money to reduce their exposure in the US. The only risk here is if risk on sentiment stays supported and the US macro outlook improves. For those interested in more details on the "flash crash" please see our previous USDJPY weekly chart! Good luck and all the best for those invested in the US.
Short
by ridethepig
4
Leg D completed on the Weekly... expecting bears to come in hereThose who have been following our commentary on Gold will have known 1180-1220 was our initial entry for longs when the position was anti-consensus. Once it started working we released the idea of longs towards 1345 and finally we are here after 14 weeks. Expecting a large retrace here as bulls unwind their positions and book profits, we have an opportunity to ride this retrace leg to the downside. Inflation is starting to edge down, the only card we need to be aware of is risk. For those tracking the macro side, via inflation 1225 is the only level in play for bears on this final leg E. There is plenty of room below current levels and we see great value in shorts here. Best of luck to those trading live, please remember to like and comment and keep the support coming. Thanks
FOREXCOM:XAUUSDShort
by ridethepig