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EURUSD TD outlook for 4 hrsThat is how we see it, pretty simple. One can use ATR stop for stops (pretty accurate tool), which is based on average true range (the input can be changed). The broken demand line is more important than descending one (trendline value is measure by the number of consequent highs or lows above the extremums). I saw some of you draw a descending triangle but by TD rules we can not make a triangle, because there is no relevant TD point below the top TD P5. We have 2 horizontal levels below on the way which price has to get through (with struggle of course) and to retest those after the breaks (!). DM projection sends price into the "free fall zone". We will see. Good luck! THIS IS NO FINANCIAL ADVISE. You are solely responsible for you trading decisions:) Top Positive Correlation 4 hrs 1 EURUSD - NZDUSD 83.2% 2 EURUSD - AUDUSD 80.5% 3 EURUSD - GBPUSD 79.7% 4 EURUSD - AUDJPY 78.2% 5 EURUSD - US2000 75.8% 6 EURUSD - GER30 74.9% 7 EURUSD - SPA35 73.7% 8 EURUSD - AUDCHF 71.3% 9 EURUSD - FRA40 70.7% 10 EURUSD - AUDSGD 69.3%
Short
by ICFX
2
BTC is going to cream everyone then move to the sky.With all the added pressure on the currency market due to corona virus, Bitcoin is set to sail. I predict that most economies are going to tank a lot further yet also. It is not wise to buy yet, wait for all the "dumb money" to buy, get wiped out by market makers, then buy. See how easy it is to see stop losses, do you not think that big institutions can't see them??? Liquidity for the taking. I will be looking to buy coins around the orange price. Also I will not be trading bitcoin, I will be buying the coins and storing them into a secure offline wallet. Must better to invest in bitcoin for long term than to try trade it. This is long term idea and is NOT a trade but an INVESTMENT.
BITSTAMP:BTCUSDLong
by joebrownFX
7
GBP/NZD - LONG... Did you just get stopped out? Here's whyDid you just hand back over some money to the market after what you thought was a great entry? But why, that "support" looks fantastic? You might have thought; Multiple touches in the past, strong zone. Price created some nice bullish Price Action, it must be bouncing off the support. We had a huge strong move up not too long ago. This is accumulation within that strong move now is a good entry. Lets enter and place our stops underneath that strong zone, surely price will fly! All the banks and the big investors see is a nice zone full of stop losses, great liquidity for the taking. Why would the banks try and fill their massive orders at a worse price, when they can manipulate it downwards and gain a much much better entry. Trade smarter not harder. Follow the big money in the markets. Wait until the liquidity (stops) have been cleared out, then enter!
Long
by joebrownFX
LET THE MARKET SHOW YOU WHERE TO GONotice the 5 touches of previous resistance marked by the blue arrows. This "strong level" entices people to sell and place their stops just above the level. See how price begins to fall from this level marked at the red arrow? This also draws more sellers into the market; people don't want to miss out; then BOOM! Price breaks the level and wipes out everyone who shorted earlier. The banks know people place stops here. It is great liquidity for them to take then drive price further down. Think of it like this, if you could enter above the level with a sell order you are already getting a better entry price. Currently CHF and JPY are strong as they are safe haven currencies, so it is a good time to short commodity currencies against them. I'm in this trade. Results to follow.
by joebrownFX
IS IT WORTH TAKING THE TRADE? THE FINAL DECISIONSSo you have the "perfect" setup; all the stars align and you feel utterly confident in taking the trade, but should you? I have a process that must be completed before I even think about pressing the trigger. Fundamental analysis points me in one of two directions, then from there I'm either short or long. I then look if there is a technical entry point that lines up in the way I want to enter. The final step to take is too see what target will be and what my R:R is. For those that don't know R:R is risk to reward. So if you have 1:1 R:R and you risk 1% of your capital on a trade, then you stand to gain only 1%. This is pretty much a 50/50 gamble, and we don't gamble in trading. If all the stars align and the R:R is 1:1 DON'T TAKE THE TRADE, MOVE ON! We win by having better winning trades than looser's. Ideally I want a 1:1.5 R:R, ideally 1:2 (So if i risk 1% and my trade reaches TP I gain 1.5% or 2%). If I have a R:R less that this I stay away or risk 0.5% on a trade, but I advise you stay away from the trade and look for another opportunity. After all, there are infinite entries in the future. Happy Trading.
by joebrownFX
STOP HUNTING- Institutional trading,beat the banks!. AUD/CAD-1hrAs we can see the black area indicates a potential zone where retail traders are tricked into going long by the illusion of fake support. Large institutions and experienced traders know most novices will have their stop losses just below this level. Institutions and banks manipulate these levels and take out stop losses to gain liquidity in the market. Once a stop hunt has occurred we enter a trade in the direction that we are fundamentally inclined to do so.
Long
by joebrownFX
$GME, Gamestop, will come to a STOP!Look, the truth is no one buys games from Gamestop anymore like we use to. We can easily download games via our console or we go to stores like Best Buy, use Amazon or buy used games or consoles through Craigslist or Facebook Market. There is nothing special about Gamestop, anyone can do what they do. What they should focus on is selling classic old vintage games. Maybe that'll revive them. But, the way things are...I only see it going away like a Blockbuster.
NYSE:GMEShort
by OfficialGoon
Looking at the MACD, 4EMA and bollinger bands shows BTCUSD LongFor the upcoming week (several days), I would say there will be a price increase for BTC/USD symbol, by just looking at: RSI (not in current graph (sorry I don't have a pro account) MACD for sure! See the cross coming up on the 1D chart 4EMA is getting ready as well The price is less volatile and low in the bollinger bands Currently I bought BTCUSD futures at Bybit with 3x leverage for long in the coming days. See the dotted green lines for both stop-loss and take profit limits. Future plan: looking at the super trend later on..
BYBIT:BTCUSD.PLong
by Melroy89
6