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BTC/USD H4/D1 charts (1/24/2019)Good morning, traders. As you may be aware at this time, the VanEck ETF was pulled so there will be no decision in February. Normally, such news would've seen Bitcoin drop a few hundred dollars at the very least and if we listen to the most emotionally bearish among us we should've seen a drop through the 2018 lows. However, we only saw a drop of $40-$50 as price bounced off the EQ of the pink TR and, as of this morning, price has recouped that loss and moved higher. This doesn't mean it won't still dump, but it's encouraging at the moment. The smaller TFs are starting to show some signs of life, but we absolutely must see follow-through into the higher TF. As I mentioned to our Discord members and on Twitter, yesterday, the lack of a strong negative reaction to this particular news may be a sign that price is ready to mark up. Market participants should pay close attention to this pair's movement over the next few weeks. After yesterday's news, I told our Discord members that they should be watching the yellow and white resistance/support lines in RSI. A break and close above both colored resistance lines should indicate that price is healthy and strong which would suggest movement up through the overhead supply and an initial target of $3780. Price is currently attempting to move higher than the H4 McGinley Dynamic after testing the descending dashed line as support and RSI has moved above the white resistance. If price happens to fall, I will be looking for the green demand zone around $3390 to provide initial support. As I said in yesterday's update, price still needs to close above the pivot and POC on the H4 and D1 TFs. When it comes to the D1 chart, I'm still watching for price to breach the noted white dotted resistance. Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life. Remember, you can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own.
BITSTAMP:BTCUSD
by Chris_Inks
2
BTC/USD H4/D1 charts (1/23/2019)Good morning, traders. There hasn't been a lot of action over night. As discussed during yesterday's live stream, Bitcoin's current price position has supply and demand searching for enough liquidity to get a trend going. Yesterday's drop and $200 rebound appears to have led to the printing of a flag. If so, then the target is the same supply zone that rejected price about 4 days ago. Popping into that supply again may be enough to take out the remaining orders so that price can continue up. Remember, price has to close above the ascending dotted resistance to signal that continued upward momentum, but if it does then the target based on the widest point of the horizontal broadening wedge is a minimum of $240 above the point of breach. The full target would be $400 above that breach point. This means that we should expect price to reach the R3 pivot on the H4 TF, and possibly even the R5 pivot. As discussed yesterday, a breakdown of this wedge should have price targeting the S2 pivot followed by the S4 pivot. RSI moved above its resistance and then retested it as support. The D1 chart shows the large, possible flag, pattern still printing. There are three targets associated with that pattern. The lowest target would print a possible double/triple top around $4200. This target is based on a possible descending wedge that is printing as noted within the large, possible flag. The next higher target is based on the height of the descending channel that makes up the flag. The highest target is based on the height of the flagpole leading up to that possible flag. Notice the two higher targets complete within the supply zones noted. So there remains a lot of possibility at this time, but until price follows through the are only possibilities. As such, traders need to remain vigilant and should be spending most of their time bettering their risk management. As mentioned yesterday, what we really need to see in the short term is price closing above the pivot and POC (Point of Control) on both TFs. The POC is the orange line and the pivot is the bright yellow line. If it does, then the odds of reaching these much higher targets is significantly increased. Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life. Remember, you can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own.
BITSTAMP:BTCUSD
by Chris_Inks
1
Possible GBP/USD Short PositionSELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Chart time frame - H4 Timeframe - 1-2 Days Actions on - A – Activating Event Currency Pair creating a Double Top . B – Beliefs Market will be rejected at @1.299 level and move towards the first Target 1 level @ 1.2835 FX_IDC:GBPUSD Trade Management Entered @ Sign up for details Stop Loss @ Sign up for details Target 1 @ 1.2835 Risk/Reward @ 3.3 Happy trading :) Follow your Trading plan, remain disciplined and keep learning !! Please Follow, Like,Comment & Follow Thank you for your support :) This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Short
by SMPTrader
BTC/USD H4/D1 charts (1/22/2019)Good morning, traders. Bitcoin continues to trend slightly lower but has yet to make a strong, continual move down. This morning we saw price drop, hit demand and rebound just under $200 very quickly. There is no doubt that moves like this are causing traders to lose money as their stops are taken out. The market is attempting to find/create liquidity to get price moving in one direction or the other. This has resulted the local white H4 TR outlined in this chart, as well as the much smaller pink TR. We can also see price wicks printing a horizontal broadening wedge (inverted symmetrical triangle) with higher highs that have been rejected at supply and lower lows that have been rejected at demand. This particular pattern tells us that, neither, buyers nor sellers are in control at this time. The H4 MACD is curled up and nearing a bullish cross while RSI has recently bounced just above oversold. As of right now, we have a recent bullish SFP on the H4 and a possible similar candle on the D1. There is still a lot of time left in the D1, so this latter bullish SFP could change but if it holds then we should expect some upward movement over the next day or two, but we ultimately need to see price moving above the noted overhead supply. Generally, we watch for the fifth swing in this pattern to determine direction. If that fifth swing breaks resistance or support and continues, then price should continue in that direction. If, however, it is rejected on that fifth swing, then we usually look for price to continue in the other direction. In this particular case, the recent drop and $200 rebound was the fifth swing and it was rejected at support suggesting price should continue upward now. Whichever direction price ultimately breaks, we should be looking for a minimum of $240, up to a possible $400, of movement beyond the support or resistance of the pattern. Traders need to understand that while this is what is generally expected with this pattern, the reality is that the pattern is not very reliable so risk management is of the utmost importance (or just waiting for a clean signal to enter). Price continues to flirt with the D1/D3 pivot, consistently pushing above but closing below it. The basic trendlines are outlined on the D1 chart. Price breaking any of these would suggest continuation in the direction of the break. We can see that this morning's move hit the EQ of the D1 demand, so the bounce should've been expected. However, what we need to see is follow-through. As mentioned above, the market is unsure at this time and is looking for liquidity in either direction to provide confidence. The first side to give this confidence will control direction in the short-to-mid term. Where does price need to get above to continue moving up? On the H4, we need to see price moving above the POC at $3630.51. On the D1, that would be $3809.16. These orange lines denote the area where we should expect to see the most local resistance and, therefore, provide good support if moving above them. To push above them indicates that demand is more dominant than supply. For now, volume and price action seem to suggest some sort of upward movement, but traders looking to limit their risk will usually wait until price closes above the pivot and POC on a TF before entering. Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life. Remember, you can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own.
BITSTAMP:BTCUSD
by Chris_Inks
1
BTC/USD H1/D1 charts (1/21/2019)Good morning, traders. We did see a bit of movement this weekend, which we will be taking a look at on this H1 chart. As I warned during Friday's live stream, traders had to be aware of the $3780 area as possible resistance, even though the target based on the triangle was higher. Sure enough, price was rejected at $3774 and then printed a bullish SFP at $3470 creating the possible second LPS (similar to Wyckoff Accumulation Schematic #2) which I suggested was likely to happen if price was rejected as it was. This is an important area because if we see upward movement from here, then the odds are most likely that we will see those upper $4000 and $5000 targets. Price appears to be building quite the support at the bottom of the blue TR around $3470. In terms of the local yellow TR, the recent bullish SFP appears to be a Spring (similar to the much more common Accumulation Schematic #1). We can see volume dropping off significantly from the SC suggesting that supply is exhausted. Price has moved out of oversold and is currently attempting to move through the McGinley Dynamic as it targets the pivot. As always, a close above the pivot should be considered bullish on this TF. We should expect price to print another LPS, most likely around the pivot, after pushing above it, and then an SOS at the dashed yellow line with a BUEC/LPS between that and the solid yellow line denoting the top of the TR. An SOS targeting the R2 pivot/descending green resistance line of the large flag should follow. Failure for price to follow through as described will likely see it targeting the S2 pivot at $3290 followed by the S4 pviot at $2930. This would print a Spring on the larger blue TR which should then see price pushing toward those $4000 and $5000 targets. I have outlined the possible two paths on the D1 chart, one in yellow and the other in orange. These are the same paths we've been watching play out for the past month or so. These appear to be the two most likely paths that price will take, however traders should not discount the possibility of price falling toward $2500 or lower. Currently, RSI does not appear to support such a move, but traders need to remain vigilant. Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life. Remember, you can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own.
BITSTAMP:BTCUSD
by Chris_Inks
1
BTC/USD H4 chart (1/18/2019)Good morning, traders. Nothing has really changed since yesterday. Today we are taking a look at the H4 Bitfinex chart. The red lines draw an almost perfect diamond pattern. McGinley Dynamic is currently sitting just above price which is bouncing off support at the moment. The targets based on the diamond are shown, as are immediate supply and demand zones. RSI has been printing a descending broadening wedge since December 20th, and within that an ascending triangle since January 14th, suggesting a break to the upside for price. MACD has been trending higher since January 11th and is nearing a bullish cross of centerline. However, it has slowed down quite a bit the past few days as expected due to the price consolidation within the diamond. Volume has been dropping off as a result as well. If price pops up, then I expect a test of the upper supply zone EQ at around $4120. Continuation above that level will have price pushing through the D1 50EMA. A close above that EMA should set up the $4800-$5600 targets. A move down should expect to find strong demand in the lower zone. A close below that zone should open the gates for a possible move down to $2450 if $2850-$2950 doesn't hold. Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life. Remember, you can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own.
BITFINEX:BTCUSD
by Chris_Inks
BTC/USD H1 chart (1/17/2019)Good morning, traders. Yesterday we took a look at the larger TF and today we will check out what the smaller TF is saying on the Coinbase chart. I have outlined the black TR, red possible flag, and the blue diamond that is currently printing. We can see that price is nearing a decision point. Does it go up or down? Price is at the bottom of the TR and possible flag, suggesting support will give it a bounce. It is also printing a diamond. The breakout targets based on the diamond are shown in both directions with my belief being that price will target the S1 pivot if dropping and the R1 pivot if rising. Furthermore, targeting the R1 pivot should have price ultimately targeting the upper red resistance and, if this happens, then there is a lot more reason to believe price will push through it and head up to those higher targets that have been in play for 3-4 weeks now. However, if price heads down then it will break that flag and likely retest the 2018 lows. It doesn't have to, and we could realistically see a bounce from the S1 area, but with a move down like that it seems more likely to retest those lows. RSI and MACD are printing their own triangles in unison with price's diamond. We can also see volume dropping off pretty well over the past four days. With the price, RSI, and MACD consolidations occurring, a strong breakout is imminent and traders would likely do themselves a favor by waiting for confirmation of direction before entering a trade. As I have continued to warn traders, we need to see volume increasing as price increases to provide the fuel needed to push through that nearby overhead resistance. Failure to do so means price is most likely headed down. However, down may not be bad. If there is a move down from here to the ~$2900 target, then it could very well just be a Spring which would indicate bullish momentum incoming and we could expect a very nice move up. However, we would have to wait until that point and evaluate price action and volume at that time. Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life. Remember, you can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own.
COINBASE:BTCUSD
by Chris_Inks
2
BTC/USD D1 chart (1/16/2019)Good morning, traders. Yesterday's $100 move to the downside created a descending broadening wedge, out of the previous bull flag, which price broke out of this morning. Currently, price is testing resistance as support, and if this is successful we should generally expect continued upward movement. The 15 minute McGinley Dynamic aligns with the previous resistance and price has closed above the blue pivot, even pushing briefly above the R1 pivot before this retrace. Is this still wave 4 of the C wave? We don't know yet. If so, then we can expect to move to the lower pink box, most likely, before moving up with the next set of impulse waves. Currently, tensorcharts.com is showing significant visible supply on the order books immediately overhead. There is also strong visible demand immediately below price as well. Volume has continued to drop on the H1 suggesting that we may still be in the corrective wave. The next set of impulsive waves up should break through the volume downtrend on the H1/H4 TFs. As always, traders should be utilizing strong risk management and waiting for confirmations before entering a position. The H12 shows the recent upward breakout being rejected at the McGinley Dynamic, but it also shows higher lows and highs from the January 13th low. The lack of a green (white on my chart) D1 candle yesterday makes the January 14th bullish engulfing candle reversal suspect, so we must continue watching the daily closes. The bigger picture remains. We have what appears to be an accumulation TR without a Spring currently printing, denoted by the horizontal blue lines. We have the outer resistance levels denoted by the horizontal red lines (these are ultimately the levels traders should be watching). We have the impulsive move up from the ST. Volume has continued to drop since the PS, suggesting consolidation toward a significant move in either direction. We can see the descending green dashed line, which is aligning with the 50 EMA, and a move above that should see volume increasingly significantly. We can also see there is a possible support building along the ascending dotted black line. The blue zones above the TR note D1 supply. D1 MACD is curled up suggesting bullishness building, as well as having printed bullish divergence on the histogram between December 7th and January 13th. D1 RSI continues printing higher lows and highs so far. A move above the D1 pivot will likely target the upper pink box and then the descending green resistance. My belief remains that if this occurs, then price will hit that green resistance, drop back for a retrace, possibly using the ascending black dotted support to bounce from, and then push through the resistance. I have outlined this possibility in orange, and it would align with the expected movement of this TR completing without a Spring. A move to the lower pink box could still see price following this movement, but it also increases the chances of a retest of the lows at the lower red line. So, as mentioned above, traders need to remain cautious. We will discuss this in detail, as well as look at the smaller TF charts during this morning's live stream. As I have continued to warn traders, we need to see volume increasing as price increases to provide the fuel needed to push through that nearby overhead resistance. Failure to do so means price is most likely headed down. However, down may not be bad. If there is a move down from here to the ~$2900 target, then it could very well just be a Spring which would indicate bullish momentum incoming and we could expect a very nice move up. However, we would have to wait until that point and evaluate price action and volume at that time. Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life. Remember, you can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own.
BITSTAMP:BTCUSD
by Chris_Inks
1
BTC/USD H1/H12 charts (1/15/2019)Good morning, traders. Not a lot has changed since yesterday's pop. Price is currently printing a flag with a target of around $3890 if price moves up within the next hour or two. That's just above the $3840 target based on the height of the descending wedge that price closed above. It is also just above the 1.618 extension off the swing low to the local swing high. This would suggest that it would be a wave 3, and the 1.272 extension off waves 1-3 would be $4000 which is also the top of the flag. As suggested during yesterday's live stream, this would create a larger wave 1 with a wave 2 pullback before seeing wave 3 pushing through that resistance. That general area is also the 50 EMA, so as I have continued to state, a close above that would be significant. As always, traders should be utilizing strong risk management and waiting for confirmations before entering a position. As noted above, price is printing a bull flag with a target of $3885 and is sitting above the H1 McGinley Dynamic. However, we could see an extension up to the R1 pivot just above it at $3925, if price moves up. A 50% retracement after reaching the $4000 level would be around $3740 and place price on top of the H12 McGinley Dynamic and blue pivot which would be bullish. A 61.8% retracement would put price right about where it is now, so my initial expectation, if price follows that path, is to see it retrace to between the 50% and 61.8% levels before blasting through the overhead resistance. The H12 MACD is curled up and targeting a bullish cross. Yesterday's D1 candle printed bullish engulfing which usually signals a bullish trend reversal, and the D1 MACD histogram printed bullish divergence between December 7th and January 13th. As a matter of fact, it closed above the past 4 days. This should indicate that we see at least a few days of bullish momentum. However, we need confirmation today in the form of a green D1 candle. The D3 candle is printing a very nice possible reversal bullish hammer as well. That D3 candle closes at the end of the trading day, today, so if we see a move up we will get confirmation on the bullish trend reversal for the D1 as well as a strong bullish reversal candle on the D3. Last week's W1 candle was not pretty, but it found support at previous resistance, so a move up through this week could see a reversal off that candle and fuel the tanks for higher targets. Failure of the weekly candles to sustain growing upward momentum will result in hidden bearish divergence forming on MACD's histogram until price moves above $6550. So, even if price makes the move up toward $5000, it could still succumb to W1 hidden bearish divergence which is continuation of the downward trend. While things are looking bullish in the short term, a breakdown of price would suggest a move into the lower pink box and a re-evaluation at that time. As I have continued to warn traders, we need to see volume increasing as price increases to provide the fuel needed to push through that nearby overhead resistance. Failure to do so means price is most likely headed down. However, down may not be bad. If there is a move down from here to the ~$2900 target, then it could very well just be a Spring which would indicate bullish momentum incoming and we could expect a very nice move up. However, we would have to wait until that point and evaluate price action and volume at that time. Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life. Remember, you can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own.
BITSTAMP:BTCUSD
by Chris_Inks
1
BTC/USD H1/H12 charts (1/11/2019)EDIT: Sorry, guys, you're going to have to scroll the chart. Tradingview hiccuped when I published them apparently. Good morning, traders. Price bounced exactly where I said it would yesterday, so where does that leave us today? The bounce created a bullish SFP on the D1 and price has consolidated around the $3630 level since then. During yesterday's live stream I spoke a bit about the volume which was greater on the second leg down on Bitstamp. However, I have gone back and added the global volume indicator (top of the chart) and it shows that, across the major exchanges, volume was less on the second leg down which is a good sign. H1 chart: As mentioned, price has been consolidating around the $3630 level since yesterday's bounce. This is the 78.6 retracement from the swing high to swing low. We can see price possibly printing an ascending channel which gives it room to pop up to the 50% retracement level at around $3800. Initially, I'm expecting price to find resistance at the EQ of that yellow supply zone at $3780-$3785. However, this is only the H1 supply, so if the demand is significant enough on a move up, it could push right through it, in which case we should expect a move all the way back up to $4000. RSI is just barely out of oversold at this time, but as mentioned yesterday we could still see price drop and create bullish divergence. Currently, MACD's histogram is printing bearish divergence over the past couple of days (from the $4000 area to these current candles). What this means is that if we don't get a strong move back up to that $4000 area sooner rather than later, the likelihood that we may see price attempting to push further down is increased significantly. We want to see RSI push through the noted resistance, and if it does it is likely that price will be pushing through the McGinley Dynamic thereby creating bullish momentum on this TF. On the positive side, we do see price attempting to push through the orders in the current yellow zone. H12 chart: We can note the bullish SFP on this TF as price wicked below the swing low at $3566 and closed back above it. However, since then we have yet to see any strong movement up. As shown, price bounced out of the H12 demand zone. As I have mentioned recently, we may be seeing a double top playing out as well. Traders should use caution with long positions if we get a close below $3566. This would appear to confirm the double top and the measured move would be a target of around $2935 which is also the S5 pivot. Until a close below $3566, it is only a possible double top. As I have continued to warn traders, we need to see volume increasing as price increases to provide the fuel needed to push through that nearby overhead resistance. Failure to do so means price is most likely headed down. However, down may not be bad. If there is a move down from here to the ~$2900 target, then it could very well just be a Spring which would indicate bullish momentum incoming and we could expect a very nice move up. However, we would have to wait until that point and evaluate price action and volume at that time. Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life. Remember, you can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own.
BITSTAMP:BTCUSD
by Chris_Inks
BTC/USD H4/D1 charts (1/9/2019)Good morning, traders. Price has moved sideways, extending the local TR, since yesterday but we may be nearing upward momentum as I'll explain below. H4 chart: MACD's histogram is printing hidden bullish divergence between 1/5/19 at 10 p.m. and the current candle. We can see higher lows between those two price points, but the histogram is printing lower lows. Hidden bullish divergence is a bullish continuation indication so we should expect price to push higher sooner rather than later. This divergence will be invalidated if price drops below $3780. Hidden bullish divergence would suggest that the horizontal TR that price has been in since the top of the impulsive candle on 1/6/19 is re-accumulation in anticipation of pushing up and through the major resistance just overhead, setting up the move up to the low-to-mid $5000s. I am watching for RSI to push through resistance which should be the point at which price makes the move through its own resistance. The McGinley Dynamic is still below price which is a positive sign for now. A close above the recent swing high at $4112 should have price moving upward toward the higher targets as it would be a break of the descending resistance that has been keeping price in check for the past 2.5 weeks or so. A close below the swing low at $3934.73 would have me watching the $3750/$3800 level for support. Failure of that level to support price is a strong indication that we may be headed to the 2018 low once more. D1 chart: RSI is nearing a break of a key level that it hasn't been above since August/September of last year. If it breaks this level, denoted by the horizontal blue line, then we should expect price to be breaking through its major nearby overhead resistance as well. Yesterday's volume was just shy of the December 29th volume as I suggested it was likely to be near or potentially even break. Bears are calling for people to short this because they believe it has already failed. While it is a possibility, I would be wary of shorting without confirmation as the overhead resistance is strong so this could also be nothing more than consolidation to gain the strength needed to push through that resistance. Many bears got burned terribly during the April short squeeze by not waiting for confirmation. The significance of a break of the overhead resistance shouldn't be underestimated as the 50 EMA is sitting right on top of price so that kind of movement would put price on top of that EMA which is strongly bullish. Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life. Remember, you can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own.
BITSTAMP:BTCUSD
by Chris_Inks
1
BTC/USD H4/D1 charts (1/8/2019)Good morning, traders. As I spoke about during yesterday's live stream, price made a final move down toward the H1 pivot before this morning's breakout of the flag, stopping just about $14 above it. The target is now $4342 based on the height of the flagpole. H4 chart: The aforementioned bull flag target should bring price up to the possible ascending channel's EQ. Just above it is the R2 pivot. The swing high that denotes the upper boundary of the D1 TR's resistance is right above that at $4409.77. I am expecting price to potentially get as high as $4540 before retracing a bit and then pushing higher, however these are areas of significance and could provide resistance for price as it does. That being said, price must first close above the swing high at $4090 before we can even look at price targets. D1 chart: RSI broke bullishly out of its symmetrical triangle as price broke out its own symmetrical triangle. Price continues to print similarly to accumulation schematic #2 (accumulation without a Spring) as I outlined a few weeks back in orange. I have outlined the expected movement based on this TR with orange once again. Price following this path would basically be a repeat of its move up from $3100. D1 volume should at least print higher than January 4th's volume which will provide the expanding volume that we need to see. A potentially strong move up may even see it print higher than December 28th's volume. We must remain aware of the diagonal resistance that looms just above price. This is the descending dotted black line and denotes the neckline of the possible IHS that may be printing. The grey price range tool provides the target based on the flagpole of the large flag that price recently broke bullishly out of and the green price range tool provides the target of the IHS if it plays out as such. We need to see volume expanding and the candle spread continuing to print large on the rallies to validate the IHS. Anything else makes that particular pattern suspect, but it does not invalidate the large flag. Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life. Remember, you can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own.
BITSTAMP:BTCUSD
by Chris_Inks
2
BTC/USD H4/D1 charts (1/7/2019)Good morning, traders. As suggested was most likely on Friday, volatility came in and Bitcoin moved up over the weekend. Many traders were caught off guard as they expected price to drop (a symptom of the corrective market whereby traders expect every rally to fail). H4 chart: We can see that price broke upward out of the symmetrical triangle. The target based on the widest part of the triangle is denoted by the red price range tool at around $4275. Price is currently printing a bull flag with a target of about $325 above the point of breach based on the height of the flagpole. Breaking out during this candle or the next should align that target with the R2 pivot which is just under the TR's upper resistance. D1 chart: RSI broke bullishly out of its symmetrical triangle as price broke out its own symmetrical triangle. Price continues to print similarly to accumulation schematic #2 (accumulation without a Spring) as I outlined a few weeks back in orange. I have outlined the expected movement based on this TR with orange once again. Price following this path would basically be a repeat of its move up from $3100. We will take a look at this repetition during this morning's live stream. But we must remain aware of the diagonal resistance that looms just above price. This is the descending dotted black line and denotes the neckline of the possible IHS that may be printing. The grey price range tool provides the target based on the flagpole of the large flag that price recently broke bullishly out of and the green price range tool provides the target of the IHS if it plays out as such. We need to see volume expanding and the candle spread continuing to print large on the rallies to validate the IHS. Anything else makes that particular pattern suspect, but it does not invalidate the large flag. Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life. Remember, you can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own.
BITSTAMP:BTCUSD
by Chris_Inks
BTC/USD H4/D1 charts (1/3/2019)Good morning, traders. The Proof of Keys event is scheduled for today but so far we don't see any issues from the exchanges. As I have been suggesting was likely, there seems to have been a lack of participation, at least on a large enough scale to be meaningful. Granted the U.S. is just coming online this morning, but we have seen no follow through with the East so far and their day has been ongoing for a while now. Traders utilizing EW should continue to remain cautious as price lows are not aligning between the various exchanges. This leaves one exchange showing a higher low while another shows a lower low. Be sure you're looking for other indications of price movement such as volume and price action, patterns, and/or momentum indicators such as RSI or MACD. H4 chart (Bitstamp): Price continued up into the local TR's resistance, peaked over the pivot and descending purple channel/bull flag's resistance, and then retraced about $60. It appears that price may be readying itself via this retracement for the push through that flag resistance as it targets the yellow supply zone on the next leg up and then $4200 at the R1 pivot. Ultimately, that should bring price into the $5200-$5500 range, as I have been talking about for the past month or so. What happens after that will most likely be the most telling in relation to where price is probably headed. For now, the next two legs up are looking to target that yellow supply zone and then the R1 pivot. D1 chart (Bitfinex): Nothing has changed on this TF. Price has been correcting overnight before it makes its way through the bull flag's resistance. This gives us a target of around $5000 on this exchange, which is about $4860 on Bitstamp, based on the height of the flagpole. One final leg up afterward should have price targeting about $500-$600 higher than that as mentioned above. We can see that volume has increased over the past couple of days and we should expect to see that continue as price moves up. As I am keen on reminding everyone, this current bullish momentum does not guarantee that price will not notch a lower low. However, the possibility that a low price may have been found continues to increase. We haven't seen overly-exuberant buying which is a good sign. Buying that is initially excessive after a move down tends to be corrective in nature due to the overly excessive selling that usually precedes it. Buying that takes a more measured approach is what we want to see because that is the one that is full of disbelief. It is the one that shows us ever-expanding volume and widening candle spreads on the rallies and contracting volume and diminishing candles spreads on the reactions all while the bearish among us continue to call it a sucker's rally. As such, it is never identifiable immediately. Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life. Remember, you can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own.
BITSTAMP:BTCUSD
by Chris_Inks
BTC/USD H4/D1 charts (1/2/2019)Good morning, traders. We saw price break through its resistance on the H4 and D1 charts over night. Now we just need to see follow through. Trace Mayer's Proof of Keys event happens tomorrow, but has its significance been blown out of proportion? How many people do you really think are going to go through the hassle and expense of pulling their BTC off the exchanges? Human nature tells me very little of the overall bulk, so I don't believe people should be too worried about it, but this is just my opinion. H4 chart (Bitstamp): In terms of the local blue TR, price is nearing its resistance once more. The large wedge's target of $3960 still remains. RSI has closed above its resistance and retested it as support. I have also noted support and resistance lines that I spoke about a few days back with dotted black lines. These are potentially forming a symmetrical triangle. Rejection at the current level would have me watching the bottom of the triangle for support. Of note is also the descending dashed red line which is the D1's resistance line. Price's large green candle pushed through it and price then retested it as support a few candles later. As we can see, all of this is taking place within the large purple descending channel that is possibly printing. A close above that channel's resistance should see price ultimately targeting the $4900 level at the least, which would be the next leg up. Since yesterday's large candle, price has ranged between the McGinley Dynamic and the H4 pivot. When it comes to HVNs, price appears to be attempting to push through the current one which would allow it to move up to the aforementioned target which is in close proximity to the swing high. D1 chart (Bitfinex): Price action continues to look like demand is in control at this time. We can see clearly impulsive movement up with candle spread widening and volume expanding until about a week ago. Since that time, we have seen choppiness with smaller red candle spread and decreasing volume. Price and RSI have pushed through their resistances, but can easily fall back below them by the end of the day. So, until that time, we should view the longer term TF breakout as suspect. Price remains above the pivot and McGinley Dynamic signalling bullishness for now. A close below those would suggest supply is possibly taking control and the blue box on the H4 chart would remain my initial target with a secondary target of the S1 pivot on the D1 chart. Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life. Remember, you can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own.
BITSTAMP:BTCUSD
by Chris_Inks
2
BTC/USD H4/D1 charts (1/1/2019)Good morning, traders. Welcome to 2019. I am seeing a lot more of the doom and gloom lately, which should be interesting in terms of overall retail sentiment. Bakkt being delayed once again has traders sure that price will rollover and continue further down now, but as we know the market rarely does what the herd thinks it will. That doesn't mean it won't fall further, only that there is a certain greater level of risk associated with following the herd at certain levels within price movement. We will take a look at the monthly and yearly candles during this morning's live stream. Not a lot has changed with the charts since yesterday, so we will zoom out to the H4 and see what there is to see. I have noted a horizontal blue TR as well as a descending channel or wedge that is currently printing. The reactions continue to lose steam while the rallies have become increasingly stronger during this likely corrective movement from the recent $4236 price high. As we can see, the most recent candle shows a large wick through the pattern's descending resistance and is capped by the McGinley Dynamic in pink. Could this be a stop run before a thrust up? We will have to continue to watch, but let this be a reminder that traders should never set their stops and entries just on the other side of support or resistance as they run the risk of being caught in a liquidity engineering event such as a stop run. RSI is trending down within a possible channel or wedge as well. The latter, as with price, suggests upward movement while the former suggested downward, so a close above resistance is what you are looking for if you want to see price rising. A move up and through the price pattern's resistance should send price targeting the swing high at $3970. If price falls below the swing low at $3566, then my expectation is a move down to $3340-$3440, with the greatest emphasis on the yellow zone within it, especially around its EQ at $3391, as that gets price to the 78.6 retracement of the impulsive move up. Failure for that box to hold will have me looking at the S2 pivot at $3209 for support. My concern continues to be that RSI has not dipped into oversold yet since it hit overbought. That doesn't mean it can't go up from here, only that it causes me to use more caution with any potential shorter-term long trade. The D1 chart shows price sitting on the pivot and just above the McGinley Dynamic. A close below those increases the likelihood that price will be headed toward that lower target mentioned above. However, a close above the descending resistance line will likely see price heading above the R1 pivot. Traders can also watch for RSI to close above its own resistance as an indication that price is headed toward the R1 pivot. Volume is dropping off and the MACD is evening out, so we will likely have a bigger move coming sooner rather than later. Make sure you notice that the H4 chart is Bitstamp while this D1 chart is Bitfinex. Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life. Remember, you can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own.
BITSTAMP:BTCUSD
by Chris_Inks
1
BTC/USD 15min/H4 charts (12/31/2018)Good morning, traders. The descending red resistance line I spoke about on Friday turned out to be exactly what we should be watching as price popped up and through as I was publishing my outlook. The H12 bullish divergence on the MACD histogram also was key. As I continue to tell traders, if you are intent on using EW you should also remain aware of patterns, divergences, etc. that may be setting up. This becomes especially important when the EW count is trying at best. At this point, the count remains anything but easy, so we will look for patterns and we can see a large possible flag printing. The target based on the size of the flag (descending channel) is $535 above the point at which price breaches the top of the flag. The target based on the flagpole is about $1115 above the point at which price breaches the top of the flag. Within that flag, we should also note the impulse wave on December 28th and the corrective nature of the waves since then. This leads me to believe we have more movement to the upside in store before any possible significant movement to the downside. At this point, price has already retraced almost 61.8% of the entire move up, so it would technically be an opportune place to bounce. As of this time, the flag only has one touch of the top which means we can't definitively state it is a flag/descending channel. In order to do so, we need four alternating touches of support and resistance. I have drawn in the smaller possible channels as they are playing out inside that flag on the H4 chart. A breach of the smaller descending channel should provide a target of the larger descending channel's resistance. Remember, price could potentially be printing a large IHS as well, but we really need to see volume expanding and candle spread increasing as it completes the right shoulder and breaks through the neckline. Failure to do so will most likely lead to failed follow through toward the proposed target around $5300/$5400. Currently, I am watching the H4 RSI for a breach through its resistance to signal bullish momentum. On the 15 minute chart, we can see that price is bouncing between the pivot and the S1 pivot. Like the H4 RSI, I am watching the 15 minute RSI for a break through its resistance as well. Notice that in both charts, price is consolidating at the HVN and is sitting just under the McGinley Dynamic. With RSI trending upward from oversold on the 15 minute, and nearly so on the H4, logic would suggest that we will see that move up and through all that resistance, but traders should still use caution and look for confirmations before entering. Price took the road more traveled this past year and moved to the downside a bit. As I warned yesterday, traders should've been waiting for a confirmation in either direction which could've been either the close above the swing high or below the swing low, or it could've been the close above the triangle's resistance or below its support. The thing I'm watching most at the moment is the H12 MACD histogram. It is currently printing hidden bullish divergence (lower lows on the histogram but higher lows on price between December 3rd and today so far. I say so far because we need to see a shorter histogram print to confirm this divergence. As such, price could fall further before printing it. Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life. Remember, you can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own.
BITSTAMP:BTCUSD
by Chris_Inks
3
BTC/USD 15min/12H charts (12/28/2018)Good morning, traders. Price took the road more traveled this past year and moved to the downside a bit. As I warned yesterday, traders should've been waiting for a confirmation in either direction which could've been either the close above the swing high or below the swing low, or it could've been the close above the triangle's resistance or below its support. The thing I'm watching most at the moment is the H12 MACD histogram. It is currently printing hidden bullish divergence (lower lows on the histogram but higher lows on price between December 3rd and today so far. I say so far because we need to see a shorter histogram print to confirm this divergence. As such, price could fall further before printing it. The H12 chart shows the possible 5 waves up as well as the bull flag that is printing. A move up and out of this flag should have a target that is about $1114.56 above the point at which price pushes through and continues out of the flag. This could get price up into the $5000s if it happens sooner rather than later. We also know that a potential HS is printing as well, though I remain concerned about the volume in the head of that pattern. A completion of this pattern should have price targeting the mid-$5000s if it happens sooner rather than later. I'm still not convinced of this wave count at the moment, though, so I am watching for signs of movement as price and RSI push through support and/or resistance. If the count is correct, then I have a proposed target on the 15 minute chart. But the shortness of the proposed B wave is giving me pause as to the correctness of the count. This 5 waves down could also be the A wave, with the 3 wave B upcoming, followed by a possible 5 waves C down if it is a zig zag. So, if price pushes through the red descending dotted line then my expectation is up, whether it be for the larger wave 3 or the smaller wave B. The latter should give us a target of $4050/$4100 or so. I'm just having trouble at the moment squaring up a fifth wave down if it does push through that red resistance at this time. Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life. Remember, you can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own.
BITSTAMP:BTCUSD
by Chris_Inks
2
BTC/USD 15min/4H charts (12/27/2018)Good morning, traders. Not a whole lot to talk about this morning but I'll do my best to give you multiple views of current price action. Bitcoin's price continues to trade sideways within a small TR which I have labeled on the 15 minute chart. We can also see that a possible Adam and Eve double bottom is building. This won't be confirmed unless price closes above the swing high between them at $3863.34. We can watch the RSI for a sign of strength which should manifest itself as RSI passing through the descending resistance line. If price closes above that swing high, then we should be looking for a target of around $4050 based on the height of the proposed double bottom. However, a close below the swing low of $3674.73 would suggest further downward momentum. Price is currently printing a symmetrical triangle. As usual, these patterns have no directional bias. The height of the triangle is about $170, so traders can use this as an initial target upon a close above the triangle's resistance or below its support by adding it to the former's point of breach or subtracting it from the latter's point of breach. So, as we were yesterday, we continue to watch the swing high and low for entry signals. Beware of possible bearish or bullish SFPs, which is why we always wait for a close and we don't immediately buy or sell the breach. The 4H chart shows us the large blue accumulation TR and the much smaller purple distribution or re-accumulation TR. Looking closely, we can see that price is currently ranging around the pink pivot at the bottom of the purple TR. It also shows us the red descending wedge and related target as well as the black descending channel and related target. As we can see, price is utilizing the top of that channel as support at this time. These targets suggest further upward movement, rather than down, but risk management demands that we see movement progress in that direction before we go long from here (i.e. a close above the swing high on the 15 minute chart). The two lower yellow zones give us an idea of likely reversal or, at the very least, consolidation areas if price heads down. A drop through that dashed ascending black support line would signal a likely move toward these areas. Traders need to be aware of possible hidden bearish divergence printing on the MACD's histogram if price can't get a surge up similar to the recent drop from the top of the purple TR. The histogram is quite short so the longer it takes price to move up once it goes, the more likely that is to play out. As always, another way to look at that move down and current sideways action, is that it is a checkmate pattern playing out which means we would expect a move back up to the drop's point of origin (top of the purple TR) in the same sudden fashion thereby eliminating the risk of hidden bearish divergence. Normally, I would at least expect a move up toward the top of the purple TR again, but we may not get that. Traders should not be too anxious to enter at this time, rather they should wait for price to give them a signal of likely direction. The most promising bit of data I am seeing at the moment is that volume on the reactions on the 15 minute chart continue to drop. The first step is for price to close above the pivot on this short TF, then above the red triangle, and finally above the swing high. If we can continue to see volume dropping on the reactions as price does that, we should be good to go toward the aforementioned targets. On the 4H TF, we want to see RSI push through its descending resistance line to signal stronger likely upward momentum which would suggest a move up to the top of the purple TR. As mentioned during yesterday morning's live stream, price has hit the 50% retracement of the move up so far. Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life. Remember, you can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own.
BITSTAMP:BTCUSD
by Chris_Inks
1
BTC/USD 15min/4H charts (12/26/2018)Good morning, traders. I hope you are enjoying the holidays and had a great time with friends and family yesterday. I am still battling these cedar allergies, so we will see how long I can keep the live stream going this morning. The last analysis I wrote had us working on wave 4 as a running flat as well as a re-accumulation without a Spring. Since that time, price dropped below A which could make it an expanded flat, and re-accumulation could still be the plan that's playing out with this drop below A being a Spring. Wave C will generally retrace about 1.62% of Wave A. That means we could see price ultimately heading toward $3520 before making a higher high. We also know that an expanded flat usually targets the 50% retracement of the previous move which is where we hit exactly with the lowest part of this move down. The blue TR denotes the large accumulation zone and the purple TR denotes the smaller distribution or re-accumulation zone. There is also the possibility that we could've completed 5 waves up with this current move down being wave 2. In that case, a move toward $3500/$3600 would be the 61.8% retracement of wave 1, which is what we generally look for as a sign of another strong impulse wave readying itself. That level is also the next area of support. However, we have just seen price print a descending wedge which often, but not always, marks a reversal. This current level of support also means that price is hovering around the 4H pivot while printing a small accumulation or redistribution pattern. The thing that bothers me the most at this time is that the 4H RSI did not return to oversold yet, which leads me to believe that if price continues up from here, it is most likely completing wave 5. The corrective larger wave 2 should then take RSI back down to oversold. Most noticeable is that the volume on this drop back down has been much smaller than the volume on the push up. Remember, expanding volume with wider-spread candles is a sign that volume and price action are in agreement which means it is a trend. In this case, that is what we saw with the move up from the price lows, so demand is in control at this time. In either case, we should at least have one more leg up toward the low-to-mid $5000s. Whether that is a wave 3 (if we've had 5 waves up for the first larger wave) or a Wave C is yet to be seen. Zooming in to the 15 minute chart, we can see the recent descending wedge as well as what appears to possibly be a descending broadening wedge. The two lows which I have marked with the blue arcs could potentially be a double bottom. This, as always, won't be confirmed until price closes above the highest point between them which is $3863.34. If it does, then the target based on that pattern would be around $4050. This puts it close to what would be the completion of wave 3, which makes sense. The key levels I am watching are the swing low at $3674.73 and that $3863.34 swing high. A close below the former or above the latter indicates the direction traders should be looking for price to continue taking. A closer look at this TF also shows a small blue TR. This appears to be accumulation on this small TF as we can see demand building and supply shrinking as denoted by the volume and price action. We can also see that the proposed wave movement lines up well with the volume nodes and the TRs, with this 5th wave up on the smaller TF coming to a halt right at the top of the purple re-accumulation? TR/large blue accumulation TR. Taking a step back to look at the 1D, we can clearly see accumulation printing out. If we get a bounce anywhere from here to around $3500, then we should likely see accumulation playing out with a Spring. Instead, the low where we bounce would be the LPS. As I have mentioned numerous times before, a Spring is never required though it happens more times than not. This may also print the lowest point of the right shoulder of an IHS, as we have discussed many times before, which would give us that low-to-mid $5000s target. If that is a wave 3, then we can expect wave 5 to ultimately notch a top around $6000. If it is a wave C, then we can expect price to head back toward the 2018 lows. If price, in the near-term, continues lower than the $3500 general area, I would be looking for a break below the 2018 price low, creating a Spring, and then the bounce back up and out of the large blue TR. Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life. Remember, you can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own.
BITSTAMP:BTCUSD
by Chris_Inks
BTC/USD 1H/1D charts (12/21/2018)Good morning, traders. Bitcoin has held relatively steady between $3900 and $4100. We know that it should be retracing after such a bullish push up, but we don't know whether it is done rising for the time being or if it has just a bit further to go. There is a case to be made for a $4200/$4360 target as we discussed in yesterday update as well as the morning live stream. As a matter of fact, the 1H R5 pivot sits at $4305. Additionally, we can see a diamond pattern forming, as well as an ascending triangle in the right side of that diamond. A successful close above that triangle's resistance produces a target of $4250 and above the diamond's descending resistance would provide a target of $4360. That move up toward the diamond target would also print an ascending wedge thereby likely marking the end of the upward momentum. We should also look for any upside movement to likely be halted by the ascending resistance of the diamond, which happens to align with the proposed diamond target. An indication of upward progression getting under way would likely be 1H RSI pushing through it's descending resistance. A close below the swing low at $3886 should signal that the retrace is in progress while a close above the swing high at $4172 sets into motion the higher targets mentioned. Traders can also watch for a close below the ascending green channel's support. The local red TR suggests possible distribution, as price consolidates just under the large blue TR's resistance, but the final thrust up just a bit higher could be the UTAD before markdown into that retracement. The move into the area between the blue TR's AR and failed upthrust (denoted with the black horizontal line around $4415) is generally what we expect with accumulation after the TR's Phase B ST has printed. I will be looking to go short in either of these cases but for right now will just continue watching the chart to find that entry. Currently, I am expecting the retracement to target the $3500-$3600 level, but that level may change slightly depending on whether price heads up for one final push or not. Attempting to trade this area is extremely risky and, in my belief, not worth the profit one may potential make. For me, there's not enough profit available to make it worth my while for that level of risk that I would need to take on in order to enter right now. Looking at the 1D, we can see that we've had five days of green candles and this current sixth candle creating, at the very least, a pause. We still have a target of $4850 based on the large descending channel that price closed above yesterday. Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life. Remember, you can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own.
BITSTAMP:BTCUSD
by Chris_Inks
1
How To Read Charts (Sec. 2) Mastering Reversals, Trends & RangesHey Traders, Here is Section 2 of the "How to read structure (Charts) Tutorial". In this Section, you will learn some of the methods that professional trend traders use to bring home a profit week after week, month after month, & year after year! In this Section, I will be explaining- - The Characteristics of a healthy trend (Chart 6) - A simple method that makes identifying trend reversals easy (Chart 7) - Why you should not rush your trades plus when & why you should have a neutral biased as a trend trader (Chart 8) - Mastering Reversals & how to trade them properly (Chart 9) - Continuation of GBPUSD Structure Analysis ~ How To Identify & Avoid Trading Ranges To Improve Your Trend Trading Strategies ~ The Importance Of A Candles Closing Price. (Chart 10) - One of my trend trading rules to avoid trading ranges & Intro to the 1st part of Section 3. (Chart 11) Section 1 of this tutorial is linked below. Please start with section 1 as it will lay some of the ground work for this section & will also show these methods on actual charts. This section of the tutorial is a breakdown of the methods taught in section 1 and when studied together, can really give you a good understanding of how trends, reversals, ranges etc work. Please feel free to leave feedback below regarding if these tutorials have been helpful. I will be releasing many more of these tutorials in future ideas and your feedback really helps me to improve them! It may take you a couple minutes to get use to the format of these tutorials so take your time & read over the charts multiple times as there is a lot of good information provided within these tutorials. Chart 6- Characteristics of a healthy trend Chart 7- A simple method that makes identifying trend reversals easy Chart 8- Why you should not rush your trades plus when & why you should have a neutral biased as a trend trader Chart 9- Mastering Reversals & how to trade them properly Chart 10- Continuation of GBPUSD Structure Analysis ~ How To Identify & Avoid Trading Ranges To Improve Your Trend Trading Strategies ~ The Importance Of A Candles Closing Price. Chart 11- One of my trend trading rules to avoid trading ranges & Intro to the 1st part of Section 3. You Have Completed Section 2 Of The "How To Read Structure (Charts) Tutorial. Charts 6-11"! Thank you for taking the time to finish this section of the tutorial! I hope Section 1 and 2 have been helpful to you! In section 3, we will start looking at how you can use price action/structure & the methods taught in this tutorial to design your own trading strategy! After all of the sections are complete, you will have the tools needed to read structure, create your own rules based trading strategy and much more so please stick around as this is only the beginning of a very educational tutorial. Thanks Traders!
Education
by Alec40
16
How To Read Structure (Charts) Tutorial- Section: 3 Charts 12-18The highly anticipated release of the How to read structure tutorial is finally here! Thank you for your patience traders, lets get right into it. In Section one and two of the how to read structure tutorial, we spent a lot of time going over the process that I use to identify potential reversals as well as what I consider to be confirmation of a trend reversal. In this section we are going to learn why I use this process & how it helps me identify the difference between a pull back and an actual reversal. We are also going to take our first detailed look into how this process is used to identify trading ranges as they are occurring & we will end with a brief introduction regarding how to properly use multiple timeframes to increase your strategies performance and overall returns. Section 3 Will Consist of 7 Charts: Chart 12- Simple Pullbacks Explained. Chart 13- One Simple Way To Identify A Fake Reversal + Identifying The Complex Pullback. Chart 14- My Method Of Identifying Trading Ranges Before They Occur. Chart 15/16- Continuation Of Chart 14 & Why The Complex Pullback Method Is Effective. Chart 17/18- An Effective Way To Use Multiple Timeframes With A Strategy. Chart 12- Simple Pullbacks Explained & Ground Work For Learning The Complex Pullback Method The majority of people who try their hand at trading, do not have any formal training or education of any kind therefore most of the trading related knowledge they learn is obtained through free sources, books or online courses that never fully go all the way, leaving them with a ton of questions and confused. Proper chart reading and structure analysis is one of the most commonly misunderstood aspects amongst novice traders, and at little to no fault of their own. It is important to understand that not all structure analysis is the performed the same, each trader may have his/her own process for reading structure so if this is a topic you wish to learn, I highly recommend learning one traders specific process to avoid confusion and conflicts with education that you may have learned elsewhere. Chart 13- One Simple Way To Identify A Fake Reversal & Identifying The Complex Pullback (my process) It is said and assumed that- "In order to identify a trading range, price must trade in it for an extended period of time". This is true with the traditional method of technical analysis however the Complex Pullback is an advanced structure analysis method that I have used to successfully identify trading ranges as they are occurring for years... With this method, we do not have to wait for a trading range to be established before identifying it as one, which gives us the ability to spot & avoid many false reversals. Incorporating this method into your strategies, can dramatically increase its performance & returns. Please see the chart below to get a better understanding of how this method works. Chart 14- My Method Of Identifying Trading Ranges Before They Occur Chart 15/16- Continuation Of Chart 14 & Why The Complex Pullback Method Is Effective Each 4hr candle represents 4hrs of price action therefore, each 4hr candle can be seen as 4- 1hr candles. Lower timeframes, can be used to obtain more information about price action. For example- If your strategy uses a specific candlestick as an entry signal, dropping down to the 1hr chart would give you an additional 3 candles which would result in 3 more opportunities for your entry signal to appear. Chart 17/18- An Effective Way To Use Multiple Timeframes With A Strategy As always, I hope this tutorial was helpful to you. Please leave your feedback in the comments below, & if you got value from this please share & give the tutorial a thumbs up. Your Shares & Likes really help to get these tutorials out to traders who are trying to learn, While your feedback lets me know that these free tutorials are helpful to you. I will continue to share them if they are of value. If you would like to learn more about how to read charts, and structure based trading please see sections 1 & 2 of the "How to read charts, structure based trading tutorials" (linked in the related ideas section below) or head over to TradersNsights: Courses/Lessons Forex Coaching To request a tutorial or topics you would like to see in the future, Fill out a quick request form and enter "Request" in the subject field or simply comment below. More Free Trading Related Education
Education
by Alec40
40