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Predict SELLING eur/jpy before tonight's CPIEUR/JPY remains up slightly as it consolidates the previous day's declines around 148.380 early on Wednesday. In doing so, the cross shows a bullish pennant chart pattern in the hourly shadow chart. , giving the recent confirmation score. It should be noted, however, that the MACD line and the Relative Strength Index (RSI) (14) are slow to challenge the quote's upside momentum, alongside the immediate barrier at 148.40 Even if EUR/JPY buyers confirm a bullish pennant breakout, the 50 SMA around 147,500 could act as an additional hurdle before directing the pair towards its theoretical target near 148,000. Conversely, a breakdown of the aforementioned pennant support line, near 147.500, could challenge the bullish histogram and possibly direct the pair towards the support of the line. SMA 200 near 146.400.
Short
by DNA_TradingFX
3
GBP/USD: 15/05: Bears counterattack, nice entry point for sell.OANDA:GBPUSD GBP/USD is building strength to recover from near the 1.2455 support as the US Dollar Index (DXY) has posted downside momentum after seeing a high of 102.70 early in the European session . It is expected that Cable will strengthen its force after breaking through the immediate resistance of 1.2485. GBP/USD has slipped below the Rising Channel chart pattern formed on the four-hour scale. Cable is on a make or break, so absolute volatility is widely anticipated. The 20-period exponential moving average (EMA) at 1.2520 has acted as a major hurdle for the British Pound bulls. The Relative Strength Index (RSI) (14) is hovering in a bearish 20.00-40.00 range, suggesting more weakness to come.
Short
by DNA_TradingFX
AUD/USD: 15/05: Short term signal todayOANDA:AUDUSD AUD/USD refreshes the intraday high near 0.6666 as it bounces off key short-term support to record its first daily gain in three days early Monday. In doing so, the Aussie pair also justifies the recovery of the RSI line (14) from the oversold zone. It is worth noting that the bullish MACD signals also support a reversal from the two-week-old horizontal support zone around 0.6645. Even if the AUD/USD pair surges past 0.6685, the 200-HMA and the horizontal zone comprising multiple levels marked since May 5, close to 0.6756, could challenge buyers. before giving them control. Alternatively, a downside break of the aforementioned horizontal support near 0.6645 will not hesitate to challenge the late-April swing low around 0.6570. The RSI has now broken out of the oversold zone. At the same time, the MACD line has started to cross the Sinal line. These are the factors that are currently supporting the AUD/USD rally.
Long
by DNA_TradingFX
GOLD 12/5: Keep watching SELL to the price area around 2000Gold prices remained pressured on Thursday for the second straight day despite a weaker US economy. The reason may be related to the market rushing into the US Dollar amid concerns about the expiration of the US debt ceiling and the collapse of the banking system. The news becomes even more important and negatively impacts risk appetite as the US Treasury has signaled the possibility that the Federal Government could default on its debt as soon as June 1 unless the debt ceiling is raised. Gold prices confirmed the pennant break on Thursday, indicating a bearish bias in the metal. The metal's downtrend break also justifies the upbeat signals from the Moving Averages Convergence and Divergence (MACD) indicator, as well as the steady Relative Strength Index (RSI) line, is set at 14. TVC:GOLD SELL GOLD zone 2020 - 2023 Stoploss: 2027 Take profit 1: 2015 Take profit 2: 2010 Take profit 3: 2005 BUY GOLD zone 2005 - 2000 Stoploss: 1995 Take profit 1: 2015 Take profit 2: 2030 Take profit 3: 2040
TVC:GOLDShort
by DNA_TradingFX
2
GOLD 11/05: Scalp ahead of tonight's PPI newsTVC:GOLD Gold prices increased their bid to refresh the intraday high near 2,035$ early Thursday, reversing the previous day's retracement from a one-month-old horizontal resistance. Precious metals benefit from broad US Dollar weakness. The XAU/USD pair maintains a neutral to bullish view in the daily chart. The pair is growing above all of its moving averages, although the 20 Simple Moving Average (SMA) has lost its positive momentum, currently hovering around 2,010$. The 4-hour chart shows that XAU/USD holds above the bearish 20 SMA, while the longer moving averages are not below it. Technical indicators head south but remain neutral, not enough to confirm another drop. Gold could extend its decline, but buyers are likely to reappear around 2,026$ as the US Dollar's current strength may be temporary. BUY GOLD 2026 - 2030 Stoploss: 2022 Take profit 1: 2033 Take profit 2: 2037 Take profit 3: 2043 SELL GOLD 2045 ́2048 Stoploss: 2052 Take profit 1: 2040 Take profit 2: 2035 Take profit 3: 2025
TVC:GOLD
by DNA_TradingFX
EUR/JPY: 11/05. Expectations for SELL BREAKOUT BEFORE PPI NEWSEUR/JPY has printed consecutive bearish sessions breaking last year's high of 148.48, extending its losses past the 18-day Exponential Moving Average (EMA). The evening star three candlestick pattern shows that further downtrend is expected. But the Relative Strength Index (RSI) indicator remains bullish, while the 3-day Rate of Change (RoC) depicts the momentum sellers are gathering. If EUR/JPY falls below the current week low of 147.02 and the RSI breaks through the 50 moving average, it will exacerbate the decline of the 50-day EMA at 146.00. A decisive break will reveal the right price to enter a sell point at 146,800 today. Conversely, if EUR/JPY recovers and confirms the 20-day EMA, it can move above the 148.60 mark. Once cleared, the next stop would be last year's high of 148.50, followed by the 150.50 figure. OANDA:EURJPY
Short
by DNA_TradingFX
EUR/USD keeps range below 1.1000, looks to buy ahead of CPIThe EUR/USD pair is struggling to extend its recovery above the 1.0980 immediate resistance at the start of the European session. The pair has felt the downside pressure as the US Dollar is seeing some renewed buying interest ahead of the important US CPI data release. The EUR/USD currency pair has dropped below the 20-day Simple Moving Average (SMA) for the first time since mid-March. While the main bias remains bullish, the Euro is currently lacking strength, raising the risk of a deeper correction. To open the door for further upside, the common currency needs to have a daily close above 1.10150 or a firm break of 1.10530. Ahead of the Asian session, EUR/USD is showing a bearish bias, but it has found support above 1.0952 and the 200-period SMA on the 4-hour chart. However, a drop below this level could increase downside pressure, exposing the next support around 1.0927. If the pair dips below 1.0905, it can cause volatility and accelerate the price decline.
Long
by DNA_TradingFX
Buyers and sellers face each otherSPDR Gold Trust, the world's largest gold exchange-traded fund (ETF), net bought 1.8 tons of gold on May 5. In two consecutive sessions, the fund net bought a total of 5.5 tons of gold. The gold volume of this fund holds up to 931.8 tons. I will activate the buy breakout strategy when it breaks out of the 2032 zone and closes the candle above it Next I will activate the sell strategy at 2045, 2048 Sell Gold 2045-2048 Stoploss 2054 Take profit 1: 2040 Take profit 2: 2035 Take profit 3: 2020
OANDA:XAUUSDLong
by DNA_TradingFX
1
MASTER THE MARKET WITH CONFIDENCE & DISCIPLINEIf you asked me to distill trading down to its simplest form, I would say that it is a pattern recognition numbers game. We use market analysis to identify the patterns, define the risk, and determine when to take profits. The trade either works or it doesn't. In any case, we go on to die next trade. It's that simple, but it's certainly not easy. In fact, trading is probably the hardest thing you'll ever attempt to be successful at. That's not because it requires intellect; quite the contrary! But because the more you think you know, the less successful you'll be. Trading is hard because you have to operate in a state of not having to know, even though your analysis may turn out at times to be "perfectly" correct. To operate in a state of not having to know, you have to properly manage your expectations. To properly manage your expectations, you must realign your mental environment so that you believe without a shadow of a doubt in the five fundamental truths. Today, I am going to give you a trading exercise that will integrate these truths about the market at a functional level in your mental environment. In the process, I'll take you through the three stages of development of a trader. The first stage is the mechanical stage. In this stage, you: 1. Build the self-trust necessary to operate in an unlimited environment. 2. Learn to flawlessly execute a trading system. 3. Train your mind to think in probabilities (the five fundamental truths). 4. Create a strong, unshakeable belief in your consistency as a trader Once you have completed this first stage, you can then advance to the subjective stage of trading. In this stage, you use anything you have ever learned about the nature of market movement to do whatever it is you want to do. There's a lot of freedom in this stage, so you will have to learn how to monitor your susceptibility to make the kind of trading errors that are the result of any unresolved self-valuation issues I referred to in the last chapter. The third stage is the intuitive stage. Trading intuitively is the most advanced stage of development. It is the trading equivalent of earning a black belt in the martial arts. The difference is that you can't try to be intuitive, because intuition is spontaneous. It doesn't come from what we know at a rational level. The rational part of our mind seems to be inherently mistrustful of information received from a source that it doesn't understand. Sensing that something is about to happen is a form of knowing that is very different from anything we know rationally. I've worked with many traders who frequently had a very strong intuitive sense of what was going to happen next, only to be confronted with the rational part of themselves that consistently, argued for another course of action. Of course, if they had followed their intuition, they would have experienced a very satisfying outcome. Instead, what they ended up with was usually very unsatisfactory, especially when compared with what they otherwise perceived as possible. The only way I know of that you can try to be intuitive is to work at setting up a state of mind most conducive to receiving and acting on your intuitive impulses. The mechanical stage of trading is specifically designed to build the kind of trading skills (trust,confidence, and thinking in probabilities) that will virtually compel you to create consistent results. I define consistent results as a steadily rising equity curve with only minor draw downs that are the natural consequence of edges that didn't work. Other than finding a pattern that puts the odds of a winning trade in your favor, achieving a steadily rising equity curve is a function of systematically eliminating any susceptibility you may have to making the kind of fear, euphoric or self-valuation based trading errors I have described throughout this book. Eliminating the errors and expanding your sense of self-valuation will require the acquisition of skills that are all psychological in nature. The skills are psychological because each one, in its purest form, is simply a belief. Remember that the beliefs we operate out of will determine our state of mind and shape our experiences in ways that constantly reinforce what we already believe to be true. How truthful a belief is (relative to the environmental conditions) can be determined by how well it serves us; that is, the degree to which it helps us satisfy our objectives. If producing consistent results is your primary objective as a trader, then creating a belief (a conscious, energized concept that resists change and demands expression) that "I am a consistently successful trader" will act as a primaiy source of energy that will manage your perceptions, interpretations, expectations, and actions in ways that satisfy the belief and, consequently, the objective. Creating a dominant belief that "I am a consistently successful trader" requires adherence to several principles of consistent success. Some of these principles will undoubtedly be in direct conflict with some of the beliefs you've already acquired about trading. If this is the case, then what you have is a classic example of beliefs that are in direct conflict with desire. The energy dynamic here is no different from what it was for the boy who wanted to be like the other children who were not afraid to play with dogs. He desired to express himself in a way that he found, at least initially, virtually impossible. To satisfy his desire, he had to step into an active process of transformation. His technique was simple: He tried as hard as he could to stay focused on what he was trying to accomplish and, little by little, he de-activated the conflicting belief and strengthened the belief that was consistent with his desire. At some point, if that is your desire, then you will have to step into the process of transforming yourself into a consistent winner. When it comes to personal transformation, the most important ingredients are your willingness to change, the clarity of your intent, and the strength of your desire. Ultimately, for this process to work, you must choose consistency over eveiy other reason or justification you have for trading. If all of these ingredients are sufficiently present, then regardless of the internal obstacles you find yourself up against, what you desire will eventually prevail. The first step in the process of creating consistency is to start noticing what you're thinking, saying, and doing. Why? Because everything we think, say, or do as a trader contributes to and, therefore, reinforces some belief in our mental system. Because the process of becoming consistent is psychological in nature, it shouldn't come as a surprise that you'll have to start paying attention to your various psychological processes. The idea is eventually to learn to become an objective observer of your own thoughts, words, and deeds. Your first line of defense against committing a trading error is to catch yourself thinking about it. Of course, the last line of defense is to catch yourself in the act. If you don't commit yourself to becoming an observer to these processes, your realizations will always come after the experience, usually when you are in a state of deep regret and frustration.Observing yourself objectively implies doing it without judging about yourself. This might not be so easy for some of you to do considering the harsh, judgmental treatment you may have received from other people throughout your life. As a result, one quickly learns to associate any mistake with emotional pain. No one likes to be in a state of emotional pain, so we typically avoid acknowledging what we have learned to define as a mistake for as long as possible. Not confronting mistakes in our everyday lives usually doesn't have the same disastrous consequences it can have if we avoid confronting our mistakes as traders. For example, when I am working with floor traders, the analogy I use to illustrate how precarious a situation they are in is to ask them to imagine themselves walking across a bridge over the Grand Canyon. The width of the bridge is directly related to the number of contracts they trade. So, for example, for a one-contract trader the bridge is very wide, say 20 feet. A bridge 20 feet wide allows you a great deal of tolerance for error, so you don't have to be inordinately careful or focused on each step you take. Still, if you do happen to stumble and trip over the edge, the drop to the canyon floor is one mile. I don't know how many people would walk across a narrow bridge with no guardrails, where the ground is a mile down, but my guess is relatively few. Similarly, few people will take the kinds of risks associated with trading on the floor of the futures exchanges. Certainly a one-contract floor trader can do a great deal of damage to himself, not unlike falling off a mile-high bridge. But a one-contract trader also can give himself a wide tolerance for errors, miscalculations, or unusually violent market moves where he could find himself on the wrong side. 1. all our beliefs are in absolute harmony with our desires, and 2. all our beliefs are structured in such a way that they are completely consistent with what works from the environment's perspective. Obviously, if our beliefs are not consistent with what works from the environments perspective, the potential for making a mistake is high, if not inevitable. We won't be able to perceive the appropriate set of steps to our objective. Worse, we won't be able to perceive that what we want may not be available, or available in the quantity we desire or at the time when we want it. On the other hand, mistakes that are the result of beliefs that are in conflict with our objectives aren't always apparent or obvious. We know they will act as opposing forces, expressing their versions of the truth on our consciousness, and they can do that in many ways. The most difficult to detect is a distracting thought that causes a momentary lapse in focus or concentration. On the surface this may not sound significant. But, as in the analogy of the bridge over the canyon, when there's a lot at stake, even a slightly diminished capacity to stay focused can result in an error of disastrous proportions. This principle applies whether it's trading, sporting events, or computer programming. When our intent is clear and undiminished by any opposing energy, then our capacity to stay focused is greater, and the more likely it is that we will accomplish our objective. You have to be able to monitor yourself to some degree, and that will be difficult to do if you have the potential to experience emotional pain if and when you find yourself in the process of making an error. If this potential exists, you have two choices: 1. You can work on acquiring a new set of positively charged beliefs about what it means to make a mistake, along with de-activating any negatively charged beliefs that would argue otherwise or cause you to think less of yourself for making a mistake. 2. If you find this first choice undesirable, you can compensate for the potential to make errors by the way you set up your trading regime.
Education
by moonypto
When should you trade ALTs? Here's the level to watch:The market cap of Altcoins is currently facing a significant challenge in surpassing the HKEX:630 billion benchmark. However, a notable surge in Altcoin activity is expected once this level is breached. Notably, the current BTC dominance of 48% can be attributed to the fact that most ALTs have broken their BTC-pair support. Consequently, if BTC experiences a downturn, the ALTs will likely be adversely affected since they have limited support! Therefore, it would be prudent to closely monitor the $630B mark if you are considering trading ALTs. A breach of this level could signal a favorable opportunity to enter the market. Still, it is crucial to stay vigilant and manage your risk accordingly, given the current market dynamics. ------------------------------------------- Recent Altcoin trades: ARB / USDT: 5% profit DOGE / USDT: 20% profit XRP / USDT: 9% profit ------------------------------------------- Ongoing trades to keep an eye on: DOGE / USDT: TP1 met and still going XRP / USDT: TP2 met and still going ------------------------------------------- If you like the content, then make sure to comment and like the post :D Follow me for daily profitable trading setups. BTC dictates the market. If BTC falls, then Alts will drop as well. Trade safe!
CRYPTOCAP:TOTAL2
by MBM_Crypto
1
GOLD Bearish SignsHello Traders I think the Gold price Stabilized under 1880 area and its time for more decreases. As you can see on my chart we Broke 1880 support Area with a Long Red Belt candle. and after pullback to this area now its time for a few crash. I thnik the Gold price decrease till area created by 38.2% Fibo Retracement of last long leg (yellow channel above) and a strong support level around 1800 and 1820. Also the price Breaks 50EMA and Retest it too. JUST... If you take a TRADE , DONT FORGET TO SET A REASONABLE STOPLOSS. Thank you all for reading my idea. please teach me something in comments.
TVC:GOLDShort
by TraderAmin-KZ