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Tradeplan

Trade Plan for BTCUSDThis trade plan consists of 2 possible entries First entry begins now on the long side at 61,897 SL: 60,768 TP: 64,407 This is a 1:3 Risk to Reward Setup Now if we end up getting stopped out, I'll look to enter again on the long side at the 60,000 support handle with a stop loss below the lowest point onscreen and the target remaining at 64,407. Something to consider: If stopped out on first entry, double up on the second entry. Important Notes: To mitigrate risk, best to place an alert at the 60,000 handle rather than placing a pending buy limit order. This will allow us to monitor momentum to ensure the 60,000 area will remain supported.
BITSTAMP:BTCUSDLong
by Michael_Harding
1
Learn Your EDGE - Trust Your EDGEYou can learn a methodology trust the methodology and be consistent. This weekly planning session is based on the H4 Indices, the idea is to do another major basket analysis after Tuesday trading. This analysis examined the AUD/USD, GBP/USD, USDJPY & USDCAD. H4 Indices Portfolio Selection BULLISH: AUD, JPY, GBP, CAD, NZD BEARISH: USD, EUR, ------------------------- BUY PAIRS: AUDUSD, GBPUSD, NZDUSD SELL PAIRS: EURAUD, USDCAD, USDJPY
by Charts247TradingAcademy
What's Next for Bitcoin?Taking a look at the daily timeframe, price action continues to trend lower in the bearish channel. In the event we get another daily candle that closes below the last, I would expect to see further downward momentum towards 55,000, and then 52,000. Stochastics is overbought and RSI is holding below 50. These are 2 additional technical confirmations that this pair is likely to trend lower. This week we also have Core CPI data on Wednesday. If we get a strong report, we may see a crypto selloff as the dollar will likely strengthen.
BITSTAMP:BTCUSDShort
by Michael_Harding
🔆 Trade Plan for GRT (The Graph) 🔆🔍 Analysis: Support Found: GRT has potentially found support at $0.333, signaling a possible reversal. Entry Consideration: Entry at $0.333 provides an opportunity to capitalize on the anticipated reversal, with a clear support level identified. Take Profit: Targeting the next areas of resistance at $0.419 or $0.485 to capture potential gains as GRT moves higher. Risk Management: Implementing a stop-loss at $0.3190 helps mitigate downside risk and protect the trade from adverse price movements. 💼 Trade Plan: Entry Strategy: Enter the trade at $0.333, acknowledging the support level and potential for reversal. Profit Taking: Consider taking profits at the next resistance areas of $0.419 or $0.485, adapting to market conditions and price action. Risk Management: Utilize the stop-loss at $0.3190 to manage risk and safeguard against unexpected price fluctuations.
Long
by Richtv_official
How to Trade EURUSDThe daily chart shows bearish continuation following the pullback of the 61.8% level from early March. On screen I have two bearish targets. The first one around the 1.0650 where we may find support from the descending trendline. My final bearish target is currently set at the 1.05 handle where we had support back in October of last year. == How to trade this pair == 1. Wait for bullish pullbacks to scale short positions with small lots relative to your equity and aim to hold with a trailing stop. 2. If you decide to go long with this pair, I would only seek small targets.
Short
by Michael_Harding
📉📈 PYTH Support and Potential Upside! 🚀💹 📊 Analysis: Support Zone: PYTH is compressing down to $0.905, indicating a support zone. Building Up: Signs of building up are observed in this support area. Laddering In: Consider laddering into positions at this level. Next Support: If $0.905 fails, next support likely at $0.80. 📈 Trade Plan: Entry: Initiate a trade around $0.905. Take Profit: Target set at $1.10 for potential upside. Stop Loss: Place just below $0.78 to manage risk. 🌟 Note: Stay vigilant for any shifts in market dynamics and adjust strategies accordingly! 🌐🚀 #PYTH #Support #TradePlan 📊📈
PYTH:PYTHUSDLong
by Richtv_official
Gaps and How Markets Move In Contraction and ExpansionThere are several ways to trade gaps but first, there should be a solid understanding of what Gaps are and how they show up. Markets aren't that hard to read if we have some simple ways to see them that adhere to the principles of movement. All markets move in contraction and expansion. A Gap is the sudden supply/demand imbalance that comes out of the contraction and shows up as the expansion. These expansions can even be used to measure how far the next expansion will go. Start with a simple bar chart and erase everything else off the chart. Look and simply see the dense areas of contraction (Range). Then see the expansion (Gap), followed by another contraction. Look for same-size contractions and expansion and you will start to see how organized price flow can be. It's no different than swings in that minor contractions and expansions make up the major contractions and expansions. Shane
NASDAQ:KTOSEducation
by ShaneBlankenship
19
EURUSD - Likely to ConsolidateTo start the week, this pair continues to consolidate above the 1.08 handle amid mixed market sentiment from last week. On the 15 min timeframe I placed two areas of interest (aoi) with horizontal lines. Should price action reach either of those lines within the next 2 trading sessions, I'll take look to see if there's a low risk trade. Continued talks of lowering interest rates this year could weigh on the US dollar. This Friday is a holiday, (Good Friday) however we do have the month's end PCE report which may cause this pair to continue it's sideways motion.
by Michael_Harding
🔗 Chainlink (LINK): Consolidating at Support! 📊🔄📉 Current Situation: LINK is consolidating at a support level. Opportunity identified for a long trade. 📈 Trade Plan: Entry: Ladder into a long spot trade in the $17.50 - $19.00 support area. Take Profit: Target the next resistance areas at $21.00 - $23.00 or $26.00 - $28.00. Stop Loss: Set just below $16.00 to manage potential downside risk. 🔄 Strategy: Utilize laddering to enter positions strategically. Monitor price action for confirmation of upward movement. Manage risk by adhering to stop loss levels. 📊 Note: Keep an eye on LINK's price dynamics and adjust the trade plan accordingly based on market conditions! #LINK #TradePlan #SupportAndResistance 📈🔗
Long
by Richtv_official
A Bad Trade Plan Is Better Than No Trade PlanTraders often talk about the need to be patient but to be patient, we must know what we are being patient for. That is why we have a trade plan and know ahead of time exactly where to enter, where to place a stop, where to exit, and how much size to put on. In this post I continue with our trade planning exercise of 30 planned trades by making a trade plan for LEN. Keep in mind that the exercise is all about learning consistency and discipline and not about the method or whether the trade wins or loses. In the video, I speak of not being worried about losing all 30 trades in a row. It's not that I have steel nerves, it's that i have planned ahead of time for 30 losses with my position size. Shane
NYSE:LENLong
by ShaneBlankenship
Defining Target for Risk Reward: Maybe you shouldn't?The trade plan is broken up into parts. We have an objective and consistent entry, stop, and exit plan. Here I will be talking about the exit plan and setting targets that will give you a particular risk/reward ratio. There are no absolutes when it comes to what risk/reward you should be aiming for, a lot has to do with how you handle risk and loss and your overall understanding of markets. Defining the stop (risk) is relatively easy compared to defining the target (reward). Mostly you need a clean set of statistics on an objective method. This will give you an average distance that the swing will run in relation to your method. The reward part of the equation is a function of how far your stop is to your entry. There is no one-size-fits-all when it comes to trading. For many, it may be best not to set a target, but instead use something simple and objective like a moving average to exit the trade. This way, you get what the market gives you while incorporating consistency and objectivity into your exit plan. Keep it simple, objective, and consistent, and learn as you go. In the video, I make something up on the spot that may give you some ideas. I use a 20ema as a profit stop only after price has made a new high. It's simple, principle-based, and it's objective. No matter what your method, knowing where you are in the swing cycle will help in defining entry, stop, and target, and this will directly influence the risk/reward ratio. Shane
AMEX:IWMEducation
by ShaneBlankenship
2
🚀 SEI Price Discovery and Upside Potential! 📈💹📊 Analysis: Price Discovery: SEI is in "price discovery" mode, testing the $0.77 - $0.83 support area. Laddering In: Planning to add to the position in this support area. Upside Potential: Anticipating further upside over the next few weeks. 📈 Trade Plan: Ladder In: Between $0.77 - $0.83. Targets: Aiming for targets at $0.96 - $1.00. Stop Loss: Set just below the white support line, slightly below $0.70. 🌐 Note: Keep a close eye on market dynamics and adjust strategies accordingly! 🚀📊 #SEI #PriceDiscovery #TradePlan 📉📈
Long
by Richtv_official