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XAUUSD Outlook 24/7/23 Major daily zone 🚨Good evening gold gang .. its finally upon us. The new week!! Im excited to get back to business. Gold is now approaching a daily structure point where we can either start climbing up to the 1993 key level as i talked about last week .. or we break the trend and start coming back down. DXY in pull back phase currently but looks like it can turn at anytime allowing gold to push up .. lets see! Reversal point on the chart at my algo level would be amazing if we can get it in london tomorrow .. if not, buys above break and retest style is the next best option. Sells tucked away below the trendline there incase we violently drop .. wait for retests before you shoot! A big news week too with red folders every day! so lets expect fireworks. We love it. A reminder to follow along if you are not already .. don't miss my updates during the day! catch you in london session my friends tommyXAU
OANDA:XAUUSDLong
by tommyXAU
9
EUR/USD Prediction on 14.07.2023Despite some fluctuations and occasional rallies, the Euro (EUR) remains in a bearish state. Several factors contribute to this ongoing bearishness in the EUR. Firstly, the economic performance of the Eurozone has been underwhelming. The region continues to face challenges such as high unemployment rates, sluggish growth, and structural issues within individual member states. These factors weigh on the overall confidence in the Euro, discouraging investors and contributing to a bearish sentiment. Secondly, political uncertainties within the Eurozone have further weakened the EUR. Disagreements and divisions among member states, particularly regarding fiscal policies and the future direction of the European Union, have created uncertainty and hindered the Euro's strength. Issues such as Brexit and the ongoing concerns surrounding Italy's debt situation have also added to the bearish sentiment. Additionally, the divergence in monetary policies between the European Central Bank (ECB) and other major central banks, such as the US Federal Reserve, has also had an impact. The ECB has maintained an accommodative monetary policy stance, with low interest rates and quantitative easing measures, while other central banks have started tightening their policies. This divergence creates a less favorable environment for the Euro, making it less attractive for investors seeking higher yields. Furthermore, global factors such as trade tensions and geopolitical risks also contribute to the Euro's bearishness. Uncertainty surrounding international trade relations, particularly between major economies like the United States and China, can lead to market volatility and risk aversion, which typically favors safe-haven currencies over the Euro. It is important to note that market dynamics can change quickly, and the Euro's performance is subject to various influences. However, as of now, the prevailing factors mentioned above suggest that the Euro remains in a bearish state. Investors and traders should carefully consider these factors and closely monitor the economic and political developments within the Eurozone to make informed decisions regarding the Euro.
by mazayafx
Bitcoin Breakout Today?On the hourly timeframe there are some small developments with bitcoin that are nonetheless deserving of one's attention. Just prior to the weekend, BTC put in a low, followed by a dramatic move to the downside which put in a lower low. However, if we look to the Relative Strength Index, we can see that a low was also put in but after that, a higher low was painted. This of course would be referred to as bullish divergence. Over the weekend, while trading volume is low, the price simply consolidated sideways but the question now is are we due for a move to the upside off of this divergence on the RSI, or was the consolidation it? The price around 30450 has been stubborn resistance as we have tested it 3 times now since the divergence was put in. This of course is bearish, but... levels, as they are tested over and over again, typically break and give way the more they are tested. And if this level were to finally give in, it would not be a surprise to see a run to 30833 occur. This would be a nice target area for profit taking. But if 30450 can flip as support theres reason to believe that an attempt to push even higher would be in the cards. Keep an eye on this as the new trading week gets underway today. We have been ranging sideways for a while now but theres no reason one cannot capitalize on the opportunities that present themselves until this range is finally broken.
COINBASE:BTCUSDLong
by TradeVibez
5 Trades this week & +2.40% 😆 / Part 1In this Weekly Review I breakdown my thought process for my first 4 trades of the week. The video was cut short due to a 20 Minutes max length for tradingview. I just learned about this since I am new to video analyses on tradingview. I will be uploading the Part 2 for my final (5th) trade of the week at some point this weekend. If you enjoyed the video, please leave a rocket or a comment 😁 I will be making more video analysis for the channel as I have been enjoying them myself. Anyways have a nice weekend.
Education
by ShrewdCatfx
GOLD buyXAUUSD aka Gold we will know have multi time frame anylsis and we start from daily TF in which gold is going to complete a falling wedge and has taken all the Sell orders on daily time frame through a fake out candle and now it will reach its buy zone soon 2- now as we see on H4 time frame on 1924 level it has given a beautiful Bearish engulfing which gives us a short term signal to short this commodity to our level at 1913 so we have take a scalp trade from our M15 bearish Engulfing zone 3- now on Daily time frame we have a buy confluance as gold is showing us rejecton and 200EMA also showing a buy side potential
OANDA:XAUUSDLong
by Wakeel_Saab
1
🕰️ The 4 Pillars of Trading Timeframes🔷Scalping: Scalping is a trading strategy that involves making multiple quick trades within a short time frame, typically holding positions for just a few minutes. Traders who employ this strategy are referred to as scalpers. The main objective of scalping is to capitalize on small price movements and accumulate small profits that can add up over time. When engaging in scalping, traders focus on short-term charts, such as 1m,5m,15m charts, to identify rapid price fluctuations. They often use technical analysis such as order flow and volume , to spot entry and exit points. The key is to identify highly liquid instruments with tight bid-ask spreads and sufficient volatility. Scalpers must closely monitor their trades and maintain discipline, as the rapid pace of trading can be mentally demanding. Risk management is crucial in scalping and it is advised towards experienced traders that backtest their strategy before taking on scalping. 🔷Day Trading: Day trading involves executing trades within a single trading day, with all positions closed before the market closes. Day traders aim to profit from intraday price fluctuations and take advantage of short-term trends. This style of trading requires active participation and constant monitoring of the market. Day traders typically use charts with shorter time frames, such as 15m,1h,4h to identify patterns and trends. 🔷Swing Trading: Swing trading is a medium-term trading strategy that aims to capture price movements over a few days to several weeks. Swing traders seek to profit from short-term price fluctuations within the context of a larger trend. This approach allows traders to participate in more significant market moves while avoiding the need for constant monitoring. Swing traders typically use 1H,5h or daily charts to identify potential trade setups. They focus on technical analysis tools, such as trendlines, chart patterns, and indicators like moving averages or the Relative Strength Index (RSI). The objective is to enter positions when there is a high probability of a trend reversal or continuation. 🔷Positional Trading: Positional trading, also known as long-term trading or investing, involves holding positions for weeks, months, or even years. Position traders aim to capture larger market trends and ride significant price movements. They often base their decisions on fundamental analysis, considering factors like macroeconomic data, company financials, and market trends. Position traders primarily use higher time frame charts, such as weekly or monthly charts, to identify long-term trends. They rely on fundamental indicators, news events, and market sentiment to make informed trading decisions. 👤 @QuantVue 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work, please like, comment and follow ❤️
Education
by QuantVue
5
A Volatile Climax in PricePrice did a break and retest above our 1.0918 Daily S/R Zone during Asian trading today and has increased 58 pips since then. The Daily candle reached within 9 pips of the 1.0986 Daily resistance zone formed last week. This return back to the topside of what looks to be a range forming now. Top of the range being 1.0986 Daily resistance zone and 1.08908 Daily support Zone. The NY 4hr candle dipped back to around 1.094 Weekly resistance level where it found support. 1.09435 is also a 1Hr support Zone that was created with the New York session 1Hr candle. 2 4 Hour candles have closed above 1.0957 4hr Zone. Maybe I'm just trading what I think but I prefer selling at these prices. My thoughts are that we are towards to the topside of what could now be a range as previously mentioned on the 4hr timeframe .
Short
by ShrewdCatfx
What Is "Scalping" In ForexHello Traders, We thought that we'd make a little guide to those of you who are looking at scalping as a possible trading strategy. This educational idea will give you a few things to consider and we hope that it will inform you of what you can expect from being a scalper. Our Take: Personally for us scalping isn’t our style and we wouldn’t recommend it to anyone but some people absolutely love it and are drawn into this type of trading because of the huge profit potential which is why we thought that we’d make this educational guide so that if you want to become a scalper then you know what you’re getting yourself into. Scalping can be a great way to trade but if you want to break out of that 9-5 job and not sit at a computer all day then scalping definitely isn’t your style. The reward you get from being a scalper comes with an equal risk and this is something a lot of people overlook. A Message From Us: We hope that you liked our guide and be sure to look out for our next educational guide where we’ll go over more lessons in regards to trading. If you have anything you want us to cover then please do contact us and we’ll see what we can do. We’d love it if you could show your appreciation if you liked this post and we wish you the best. Stay Safe - The JPI Team Disclaimer: This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
FOREXCOM:XAUUSDEducation
by jpeacockfx
4
News Speeches Stir the pot 🕊️// Eurusd We would like to see the Daily candle close above 1.0945 as this will confirm a breakout to the upside. The candle at that point will close above the daily resistance zone created by last friday's daily candle. The idea is that we have momentum leftover from last week and will see the curretn weekly candle push deeper into the Daily/Weekly zones above. Wild trading day for me but besides that Eurusd has seen a resurgence of bullish volume that we were anticipating after last weeks Weekly candle closure. We were anticipating a continuation of momentum this week and I mentnioned in my previous Eurusd publishing that we may pullback and conolisdate early in the week as the markets sets up. The market needs time to gather liquidity before it makes significant moves. It does that by causing alot of volatility and commotion in the short term in order to get traders on tilt and stir up the pot. Moving forward I'm looking towards a retest of the extreme 1Hr Zone 1.096 and eventually an increase to the next daily resistance level 1.0982 during the next london session.
Long
by ShrewdCatfx
2
5‌ ‌Best‌ Crypto‌ ‌Scalp‌ing ‌Trading‌ ‌Strategies‌Cryptocurrencies are known for their volatility. While that may put some traders off, it creates many potentially lucrative scalping opportunities for those with significant experience and who can react quickly. In this article, we’ll explore five top crypto scalping strategies and help you learn how to scalp crypto effectively with a simple framework. What Does Scalping Mean in Crypto? As in any other financial market, in cryptocurrency trading, scalping refers to a type of trading where traders aim to profit from short-term market movements. This approach involves entering and exiting trades within minutes, or even seconds, aiming to capitalise on small fluctuations in price. Scalpers typically use high leverage and execute many trades to accumulate small profits over time. The objective is to make seemingly insignificant gains that add up rather than seeking larger, less frequent returns. Scalping is particularly popular in crypto trading, as digital assets are inherently volatile and experience extreme daily price changes. How Easy is Scalping in the Cryptocurrency Market? Compared to longer-term trading styles like swing or position trading, scalping requires more discipline, stronger risk management skills, and a solid understanding of market mechanics. As such, scalping is a more advanced technique and can be considered more complex than other styles. However, through practice, scalping crypto can become easier. What Is the Best Time to Scalp Crypto? While crypto markets are open 24/7, volumes often pick up during regular trading hours for other markets. Generally, the London and New York sessions, particularly their overlaps, are the most active, with plenty of volume and volatility for scalpers to take advantage of. In terms of timeframes, scalping is usually done on the 1, 2, or 3-minute charts. 5-minute and 15-minute charts are often used to help set a directional bias. Pros and Cons of Scalp Trading Cryptocurrency Scalp trading in the cryptocurrency market has its advantages and disadvantages. Let’s examine some of the most notable pros and cons. Pros: - Frequent Opportunities: The volatility of crypto can present more scalping opportunities compared with other assets, boosting the potential profits a scalper can make. - Lower Risk: The frequent in-out nature of scalping means that scalpers have less exposure to adverse market events, like regulatory changes or macroeconomic events. - Psychologically Easier: For some traders, scalping is preferable since it allows them to bank small profits. This can be easier psychologically since there’s no anxious wait to see if a trade hits a longer-term target. Cons: - Risk of Significant Losses: As mentioned, scalping requires discipline. Given the need for high leverage, poor risk management can wipe out a scalper’s account within a few trades if they aren’t strict with their strategy. - Time-Consuming: Scalping requires constant monitoring of the market, which can be both time and energy-consuming. The ongoing need for quick decision-making may also be particularly draining for some traders. High Costs: The fees associated with frequent trading, like spreads and transaction costs, can eat into profits. 5 Cryptocurrency Scalping Strategies Let’s dive into particular strategies. Range Trading Range trading is a popular strategy among crypto scalers. It involves identifying a specific consolidation range that an asset is likely to fluctuate within. Scalpers aim to buy at the lower end of the range (support) and sell at the upper bound (resistance). To get started with range trading, traders first need to identify a ranging market on a low timeframe, like the 1 or 5-minute charts. Then, support and resistance levels near the highs and lows of the range are identified. These levels then serve as entry and exit points, with a trader entering at support looking to exit at resistance and vice versa. Some will look for reversal candlestick patterns, like hammers or shooting stars, at support or resistance, respectively, before entering with a market order. Others will simply set limit orders at their chosen entry point. Stop losses are typically placed beyond the range’s high or low, depending on the direction of trade. Scalpers usually use a 1:1 risk/reward ratio or don’t place stop-loss orders, but the latter is a highly risky approach. Breakout Trading Breakouts occur when a level of support/resistance is broken through, often indicating the start or continuation of a trend. There are several ways you can take advantage of breakouts, but it’s not uncommon for a false breakout to occur. We can use a filter to increase our chances of success. To start, we need to identify a support or resistance level. The easiest way is to look for relatively equal highs or lows forming, like in the chart above. When the level is broken with a strong impulsive move, we can enter on the close of the breakout candle. However, if the move isn’t particularly strong, like at a) and b), then we could wait for a pullback. Traders can place a stop order to enter as the pullback itself breaks out, as marked by the dotted lines. Profits can be taken at an opposing support or resistance level. However, some scalpers may prefer to attempt to ride the trend and trail their stop loss above or below swing points as the move progresses. Similarly, stop losses can be placed above or below the nearest swing points. Chart Patterns Chart patterns can be a powerful tool for scalping, helping traders to identify potential trend continuations and reversals. While there are many different chart patterns out there, it’s best to stick to just one or two to avoid confusion, at least until you master their use. We’ll use rising and falling wedges in this example, as they often lead to strong moves. There are two ways to enter: either on the breakout or on the retest of the broken trendline. As you can see in the example, entering retests might be a more accurate method, but it’ll mean you miss out on some trades. Conversely, entering on the breakout is riskier, as it could just as easily be a false breakout. Your profit target and stop loss will depend on the pattern you’re using. Given that wedges typically prompt a prolonged trend, you could look for significant areas of support/resistance to start taking profits. For a more conservative approach, you might take profit at the most extreme point of the pattern. Likewise, stop losses can be set at the most extreme opposing point. For example, you may set a profit target at the high of a bullish wedge and a stop loss beneath its low. Using the Relative Strength Index and Bollinger Bands Some scalpers rely heavily on technical indicators to help them determine entries and exits. One popular combination is the relative strength index (RSI) and Bollinger Bands. Relative Strength Index (RSI): The RSI measures the strength of price movements and can be used to identify overbought/oversold conditions and divergences. RSI can be particularly valuable for pinpointing short-term reversals. Bollinger Bands: Bollinger Bands help traders identify periods of high or low volatility and potential price reversals using standard deviations. Scalpers often look to short when price reaches the upper band and go long when it touches the lower band. When RSI crosses 70, indicating overbought conditions, or below 30, showing the asset is oversold, traders can look to confirm a reversal entry with Bollinger Bands. If an asset is overbought and crosses above the upper band, a short position can be considered. If the asset is oversold and price breaches the lower band, a long position could be entered. As for exit conditions, some scalpers may prefer to take profits at the midpoint of the Bollinger Bands or the opposing band. Others take profit when RSI crosses above or below 50, depending on the direction of trade. In terms of stop losses, above or below a nearby area of support or resistance is often suitable. Alternatively, you could choose a set distance for each trade. At FXOpen, we offer both of these indicators in our free TickTrader platform. There, you’ll also discover a whole host of additional indicators and tools ready to help you navigate the markets with confidence. Bid-Ask Spread The bid-ask spread refers to the gap between the maximum price a buyer can offer (bid) and the minimum price a seller can accept (ask) for a specific asset. Scalpers can take advantage of the bid-ask spread to generate quick profits. When spreads are wide, traders place buy orders and sell orders simultaneously. They buy at the bid price and sell at the ask price, capturing the spread as profit. This strategy can be particularly effective in less liquid cryptocurrencies where spreads are naturally wider. How to Create a Scalping Crypto Strategy Now, it’s time to create your own scalping trading strategy for crypto! While your strategy will ultimately be unique to you and your preferences, you can try these steps to begin developing a system. 1. Choose a Timeframe: Select a short timeframe that suits your trading style, such as 1-, 3-, or 5-minute, to base your trades on. Try to balance choosing one that allows you to capitalise on short-term movements while giving you enough time to think through your decisions. 2. Identify Support and Resistance Levels: Use trendlines and horizontal levels to pinpoint potential entry and exit points. You can also look for psychological or dynamic levels if desired. Set a rule that you’ll only enter and exit at these levels to avoid impulsive decision-making. 3. Employ Indicators: Use indicators like moving averages, RSI and Bollinger Bands to confirm your entries and exits. You can set specific criteria to help filter out potential losing trades, like only trading a resistance level when RSI is overbought. 4. Develop a Risk Management Plan: Risk management is almost as important as your strategy itself. Use stop-loss orders, limit orders, and proper position sizing to manage potential losses and protect your capital. Set defined loss limits and rules for avoiding emotional decision-making. 5. Test and Refine: Continuously backtest and optimise your strategy using past price action, and make adjustments as needed to improve its performance. It’s a good idea to keep a trading journal to record your trades and analyse your decision-making process. Ready to Put Your Strategy to Work? Of course, these steps aren’t exclusive to the crypto market. While scalping crypto may be preferable for some traders, you can also apply a similar strategy to the forex, commodities, and stock markets – you may just need to adjust it slightly to suit these markets. Once you feel ready to deploy your strategy for real, you can open an FXOpen account to gain access to dozens of tradable assets in our advanced TickTrader platform. Or, if you want to practise before putting capital on the table, we also offer a free demo account that simulates live trading conditions. Happy trading! *At FXOpen UK and FXOpen AU, Cryptocurrency CFDs are only available for trading by those clients categorised as Professional clients under FCA Rules and Professional clients under ASIC Rules, respectively. They are not available for trading by Retail clients. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
BEducation
by FXOpen
3