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Pitchfan From ScratchHello, traders! Today we’ll continue to speak about graphical tools of trading view. We have already completed Fib. Retracement, Gann Square and different kinds of Pitchfork. Today we’ll speak about extremely useful tool, that we are integrating in our strategies. So, ladies and gentlemen, love and favor, Pitchfan. A Pitchfan is a set of rays spreading out of the point of a trend's beginning. These rays inclined with the coefficients formed by a Fibonacci number sequence.it is recommended to apply a Pitchfan after the first wave of the trend has passed and the correction has clearly begun. To draw a Pitchfan, it's first and second points are to be set at the trend's extreme points, and the third point is to be set at the extreme point of the first correction wave. Basically, during the bullish trend, put the first point to the beginning of the trend, second to first confirmed higher high, third to the first confirmed higher low. Whereas during bearish trend put the first point to the beginning of the trend, second to first confirmed lower low, third to first confirmed lower high. When I say «confirmed», I mean two-three candles should close after the high lower and after the low - higher. Kinda difficult? Have a look at the chart and should become more clear. What does it say? Initially, if you plot it correctly, it’ll give you clear support resistance levels. This’s information, in my opinion is priceless for any trader cause it’s much easier to predict the future price movements. But the best of usage, seems to me, in conjunction with Fib Retracement or Trend based Fib. Extension. If it’s interesting to you, dear traders, write down to comments and advise the third indicator or tool. So, we’ll make the trading strategy together. Read my tutorials, write questions to comments and you are about to boost up. Have a nice trading week, dear traders! DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions at the real market.
Education
by Skyrexio
2
Fib Retracement From ScratchHello, traders! As you can see, SkyRock traders always use Fib tools for our analysis and predictions. We find Fibonacci tools a great powerful series of instruments that’s necessary to use. Today we’ll speak about one of my favorite TA tools - Fib Retracement. Fibonacci retracement levels are horizontal lines that indicate where support and resistance are likely to occur. They are based on Fibonacci numbers. Each level is associated with a percentage. The percentage is how much of a prior move the price has retraced. The indicator is useful because it can be drawn between any two significant price points, such as a high and a low. The indicator will then create the levels between those two points. Well, it seems to be not very important and attractive how to calculate Fib Retracement Levels. You should just know that they are based on something called the Golden Ratio. It’s believed that all natural laws are based on this ratio. However, the right usage of it is deadly important. To initialize it, put the first point to the previous lower low and the second to the confirmed higher high during the up-trend and vice versa during the sown-trend. What can it tell you? Initially, support and resistance. It could hardly be possible to find the tool better for such purpose. Then, the levels of it is usually reached, thus it may produce some signals. Although it’s very powerful tool, it’s kinda ridiculous idea to use it marginally. Also, the areas of sideways is also defined by it, cause of high probability of consolidation in «Golden Pocket». And at last, it helps ms to define Gartley and Elliott patterns. Well, guys, as you can see it’s really great and multifunctional instrument that can help every of you to trade and make money trading. Use it in the right way! Have a nice trading day, dear traders! DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions at the real market.
Education
by Skyrexio
4
SPX & S&P 600 & RUSSEL 2000,which is a leading indicator "2.0"Indexes "Band of Brothers Edition 2.0 " Decoding the relation!!! (No copyrights here feel free to redistribute and spread the knowledge) In a nutshell, divergences between small caps and SP500 index has a kind of leading volatility relation " Heads up" kind of a signal !!! *** When you see minus " -.59 / -.62 " Divergence's reading between SPX & SLY You need to be out of the market period. *** When you see minus " -.48/ -.65 " on RUSSELL 2000'S INDEX you need to be out of the market period. *** SPX 600 has 10 signals Vs. 7 for RUSSEL. ( 3 more signals for SP600) ***SPX 600 has 4 lagging signals VS. 6 for RUSSEL 2000. ( 2 less lagging signals) *** SPX 600 has a Median of 36 days Vs. 57 for RUSSEL 2000. ( SP600 better Median) *** ETFs are slightly better than indexes in the sense that they are more "SENSETIVE. -----------------------------------------DATA------------------------------------------------------------------- Lagging Lagging # SINGNALS # SINGNALS MED.RUS Med.SPX russel spx 600 6 4 6 10 57 36.5 62 2 Percentage SPX'S DAYS FOR A PULLBACK RUSSELL 2000 SPX'S DAYS FOR A PULLBACK S&P SMALL CAP 600 61 36 10% Laggeing by 3 days 2 Days heads up 36 13 35% NO SIGNAL !!! 36 days before Covid 19 57 91 20% Double signals 62 days & 8 days 13 days 28 37 12% 61 days Triple signals: 91 days & 81 days & 38 days 48 35 3% Lagging by 1 day NO SIGNAL 91 28 3% Lagging by 9 days Lagging by 8 days 67 3% NO SIGNAL !!! 37 Days 61 5% Lagging by 7 days Lagging by 7 days 91 13% 36 Days 35 days 4%+10% 1 day + 57 days from double pullback NO SIGNAL 2% Lagging 1 day Lagging 1 day 11% 28 days 28 days 21% NO SIGNAL !!! 67 days 6% 48 days 61 days SLY STOPPED HERE 8% 91 days 91 days IJR USED HERE INSTEAD 31% Lagging during a crash 35 day lagging during a crash 35 day During a crsh NO SIGNAL During a crash During a crash
TVC:SPX
by samitrading
2
Introduction To Gann Theory | Gann Square From ScratchHello, traders! Today we gonna start one of the most complicated topics. Please pay as much attention as it possible and ask any questions you like. Gann technical analysis methods are a bit complicated because they are based on geometry, ancient mathematics, astrology, and astronomy. Popular technical methods like Gann Angles and the Master Charts are at Gann’s disposal. The Gann Square is also among the several powerful tools that Gann developed. How to use? It can be used in a variety of ways. One way is to start at the previous major pivot point (normally the end of the last 5 wave sequence) and draw it so that the 1 X 1 line follows the current market support areas to a good degree. Simply put, if you want to draw it from the higher high, the end should be at the previous lower low to follow the price cycles. And if you are drawing it from lower low, finish it at previous higher high. Another way is to highlight geometric formations that can forecast key support and resistance levels by counting forward from the all-time low or all-time high. Well, I understand the difficulty of the instrument. It's kinda difficult to use it from scratch. However, tomorrow I will elaborate this article with short analysis using this powerful tool. DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions at the real market.
BEducation
by Skyrexio
4
ES1! - PREPPING FOR TRADING FUTURES - STUDYThis will be my first analysis of futures, forgive me if there's a shit load going on here. Due to the lower cost options, lower risk, and higher liquidity; I am going to begin trading options on futures. I'll be closely monitoring this to see how price follows this analysis. Please, if there's any futures traders out there, I would kindly take your criticism and/or any helpful tips and tricks as I begin this journey through trading futures. Thank you! So there's a few things here, I wouldn't feel comfortable entering anything at the time but there's key levels that i'll be watching: 1. If 4237 resistance can break, I see long continuation with clear profit targets at the 4310-4340 range. 2. If price falls below 4199 there's a chance it could fall hard with the first stop being the .382 fib retracement at 41.57 and possibly further being that I am seeing weakness in price structure on the daily. 3. I noticed a nasty double-top on the daily chart with a rounding top indicating the aforementioned weakness in price structure. Seems like momentum is being lost. The fact that it didn't fall immediately after that last 1day doji gives me hope for the bulls The daily: double top + rounding top
CME_MINI:ES1!
by GeneticHustle
1
SPX's weekly update. 2ed week of April 2021- P/E : @ 40 .93 .Third highest reading since "1875"!!! Tops land. " Usually bottom of crashes not tops". - SPX's Dividend Yield: @ 1.45 Possible target is 1.10 2000's bottom !!! US10Y @ 1.666 historically 10y note underperforming SPX in April & it has a sideway movements in April as well. - Insiders: 6 Sell, 2 Buy. No up date on the website, still April 1st reading !!! - Seasonality: April is the best month of the past 20 years & 2ed past 10Y. Max 12.5% Min (-6.1%) with Q2 of post presidential election, since 1950, gain of 5% (already 3.5 % in the firs 10 days LoL !!! - Deviation : Daily - @15.37 % (80 % single pullback) weekly - @39.06% (76% single pullback) and at the edge of a 54% double digits pullback. - Candles Auto recognition : White Marubozu 84 % bullish move NEXT. Nothing 7 months for monthly. - Putt/Call composite @.600 Vs. .597Vs. last week = Still holding Higher Highs/Higher low. Kind of bouncing from 50d MA. Golden Cross looming -Total Option Volume: 478329 Vs. 378667 big increase 25% up from last week. - VIX : In our safe green zone, we hit 16.69 Vs. 17. 40 last week Lowest seen # since last years crash + Closed 2020's "GAP" - VWAP: @ 58.30 = No man's land, closer to up swing.. - DIX : 44% No man's land closer to a bottom or up swing. - GEX : @ 22,999,000,000. 55% tops land, 35 % up swing 10% false signal. (HIGHEST READING IN 2Y) - SPX : Above averages . We are getting 3 of them in the 90s very rare bullishness move here. !!!! - NYSE: Above average nothing to mention. -------------------------------------------------------------------------- Key for this week : 1/ Bullish Barubozu Candle 84% success rate. 2/ Higher Deviation = Higher probability of a pullback. 3/ GEX is the highest in 2 years !!!
SP:SPX
by samitrading
SPX's weekly update first week of April. Historically A+ month. - P/E : @ 40.93 .Third highest reading since "1875"!!! Tops land. " Usually bottom of crashes not tops". - SPX's Dividend Yield: @ 1.45 Possible target is 1.10 2000's bottom !!! US10Y @ 1.672 " Exactly like last " - Insiders: 6 Sell, 2 Buy. Selling is down from 137. No activity here what so ever. Are they waiting !!! - Seasonality: April is the best month of the past 20 years & 2ed past 10Y. Max 12.5% Min (-6.1%) - Deviation : Daily - @13% (64% single pullback) weekly - @35% (76% single pullback) - Candles Auto recognition : Nothing found 4 weeks in a row weekly, 7 months in a row for monthly. - Putt/Call composite @.597 Vs. .764 Vs. last week = Less puts bought last week than the weeks before. Still holding Higher Highs/Higher low. Kind of bouncing from 50d MA. Golden Cross looming -Total Option Volume: 378667 Vs 295309 big increase 30% up from last week. - VIX : In our safe green zone, we hit 17.40 Lowest seen # since last years crash + Closed 2020's "GAP" - VWAP: @ 65 = No man's land, closer to up swing.. - DIX : 40 No man's land. - GEX : @ 5,857,000,000 "No man's land". - SPX : Above averages . They had us going last week the break down of 50d MA. Was a Bottom !!!! - NYSE: Above average nothing to mention. www.tradingview.com
SP:SPX
by samitrading
1
How to read a Chart - Part I: Perspectives on VolumePart I - Perspectives on Volume A. Plain Volume Introduction As volume is the most important indicator on price and trend, it is often overlooked and more often not even used. But overall, volume is by far the easiest indicator of all, especially if used in conjunction with price and trend. As many traders are relying on indicators, trying to ready something out of it - especially trend strength, possible turning points and divergences, exhaustion, breaks, flops, fall-outs, lagging trends and so forth can be seen on a blank chart. Volume and Direction Below you’ll see trending where price is following volume and vice versa (Fig. 1). I’ve colored the volume in black, because too often the volume is colored on behalf of the close of the price range (candle or bar), which is confusing, irritating or even misleading. As you see, I’ve taken a screenshot of the 15 minute time frame of NIO, but the following doesn*t rely on any specific stock, instrument or asset or any specific time frame; but as always you should take two things into account: the higher the time frame the more reliable and valuable the data and the lower the time frame the noisier the data but the closer the perspective and the earlier the possibility to (re-)act. Below you’re seeing the same chart with slight annotations. The red arrow above the price bars is showing short selling or profit taking, while the red arrow above the volume is showing increasing volume. The green arrow below the price bars is showing rising interest and buying, while the green arrow above the volume is also signaling soaring interest. In both cases, the volume is moving in the same direction as price and so this is considered to be a healthy move. In contrast to the blue arrows above price and volume might be considered as diffident and reluctant buying. As the price is going up or even sideways, the concurring volume is vanishing and fading. According to this, the purple arrows are picturing a quite similar price action, but speaking in terms of selling. This can be considered as profit taking, restructuring open positions and overall as a regressive move. Why doesn't price go in one direction only? Why are these regressive moves occurring? As especially the big trading floors, investment companies, hedge funds and the commercials are trying to get large slices of an asset, it takes time to get and to load up the desired amount. Think of it like this: If you are getting a new furniture like a table or a lamp, you`ll easily put it into the trunk of your car, but if you’re going to move from one flat to another, you’ll need a truck a certain period of time to load up or you’ll even need to drive a few times forth and back before everything is in its new place. Trend strength Based upon the former information we are now able to see the basic price moving in trend and regression, but sometimes - or even too often - the two aren’t trodding in the same direction. This is giving clues about the strength of an ongoing move as visualized by the orange arrows in the following figure and is usually easier to spot in upward than in downward movements (the reasons why, I am glad to explain in another chapter). Divergences As being one of the most favored tools of interpretation, divergences are also one of the most tremendous and even without any special tools to discover on a blank chart. We speak of divergence if the indication is showing another price direction as the chart itself is. In a regular point of view of the Dow Theory a trend is established by higher highs and higher lows, whilst a sheer price action divergence is considered to be the appearance of a lower high or a lower low in an uptrend and for a downtrend vice versa. A price/volume divergence is seen in the image below. As marked by red circles, the consecutive higher highs aren't emphasized by increasing volume, rather the opposite is true: the volume of the subsequent high is at best at the same level as the precedent. This is considered classic divergences. Volume peaks and lows For the final part of volume basics on a naked chart, we need to have a look at volume spikes. To estimate move and direction properly, we need to ask where the spike has happened. If the previous move was up, the volume should also have risen to a certain extent to display the healthiness of the move. Usually, the peak of the blank volume is appearing on the end of a move, either up or down; therefore, a reversal might happen soon indicated by the red and green arrows in the figure hereinafter). On the other hand, if a higher than usual volume is occuring at a resistance and breaking through, a future move seems likely. But if the peak is happening within a range at no specific point of interest, then sellers or buyers most probably have cashed in and closed their positions. When going for volume lows, it is quite easy: lows are usually appearing if there is no interest in buying or selling B. Volume Delta and Cumulative Volume Generally speaking, all of the analysis as written above might also be taken into account if looking at volume deltas. In the figure below. For this I’m using the “Simple CVD over MA” ( ) to exemplify the ease of use of volume; the settings are cumulative volume over previous bar, smoothed over the last 14 periods of the weekly time frame - displayed on the daily chart. Within this indicator, the asset is uptrending if the volume is above the zero line, and the histogram is colored green if the actual cumulative volume is higher than the previous. This indicator, even if not very sophisticated, is visualizing the volume trend with a quick blink. The fading cumulative volume is indicating a regression until the valley has started to form (tagged in orange); furthermore, the histogram color is providing a good - or even the perfect - entry for a quick trade or a longer term swing; whilst the summits signaling a level for profit taking or a partial close of a position. As a matter of fact, considering the upward sliding of the price just before the first green arrow whereas the volume is heavily fading, might also be regarded as divergence although they are easier to spot if either the calculated time frame or the ma period is set to a smaller value than used in the example. Just bear in mind: As nothing in life is safe to a hundred percent, reading volume is stacking up the probabilities on your side. ___ Note: As I’m writing a book about trading, I am going to post a couple of short articles on topics like trend, volume, Dow theory, auction theory and behaviorism. If you are spotting some errors or if you like to add something, feel free to comment or pm. Cheers, Constantine - co.n.g.
Editors' picks
NYSE:NIOEducation
by constantine_trading
151
BTC Fibonacci study and predictionThis is a study and short term prediction on the Bitcoin chart based on Fibonacci price action retracements and extensions, based on identified patterns in ranges of time for price movement on previous low to highs, high to lows and high to highs. The predictions are created using the previous ranges of time and the Fibonacci golden ratio on retracements and extensions to get an estimate on the possible next support and resistance areas, also considering the basic Elliot Waves patterns in impulse and corrective waves for likely direction after the areas are encountered. If the study's prediction is accurate the Bitcoin price should hold support near 43.5k with a max potential drop of 30% to 40.5k within this week / early next week, it would expect a move upwards all the way to a new resistance near 75k within 24 days after it begins, where we expect a corrective wave with the first leg dropping another ~25 - 30% where it could find resistance around 55k with a max 30% drop to 51.5k with a next potential bounce off to 63.5k range and potentially dropping another ~30% to the 43.5k support News around Bitcoin are huge, crazy and unpredictable so attempting to call out moves further in time is more unlikely to be accurate, but based off the historic March drop, we could expect sideways movement for a while before continuing its glorious rise. Recharge your laser eyes and polish those diamond hands, we're going to the moon!
COINBASE:BTCUSDLong
by sirkriz
6