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BITCOIN UPDATE: WHAT IS THE TRENDThe question of BTC was if it could surpass the crucial 24K level, which marks the difference for a new bull market. So far, BTC has not yet confirmed the 24K, which means that the trend still looking for key action and it can stay for some time stable before a new breakout. From a long-term perspective, a BTC value above 18K is seen as positive , and 20K is important for the trade view that BTC should hold it. As for the current trend, there is a good chance that the volume activity can have a new volume in the range between 21,400 and 21,700. This range is considered a volume zone where BTC can have some gains. IF BTC is not able to hold this zone, then it should, at last, holds the 20200 USD as the most important zone. BTC for a low time frame BTC is still in a breakdown trend from the important key level of 24K, but it means not that it's broken into a confirmed downtrend as there is a good chance BTC will return to up 23K. Markets change with time, and it's important to stay updated with last trends in the price action of BTC.
Long
by Goldenbreakout
8
GoldViewFX - THE ART OF RANGE MANAGEMENT Hey Everyone, Here at GVFX, we are currently buying dips. What that means is that we buy on the dips and therefore only concentrate on long positions/buys with the odd sells for fun. As mentioned before, having both sell and buy positions open in your account will affect your psychology and in turn, your trading decisions. Now a question that typically arises here is why would it still be advisable to buy when the market is pushing down? Firstly, let me assure you that the same algorithms, experience and strategies that we use to achieve a 97% hit rate with our bullish directional bias also gives us the heads up, or down if you will, on when the market is going down. Don't think for a moment that we only know how to analyse a bull market or up trends. We share targets/signals for both buys and sells but choose not to hedge out of choice. Our published results remain consistently profitable month in month out!! In my experience, in the current market conditions, it is much safer to get out of a stuck buy position than a stuck sell position. That's not to mention the clean PSYCHOLOGICAL PROFILE that is achieved when trading in just one direction. And although hedging can in theory work, it requires years of experience and in the end, is simply not worth the effort. I am more than capable of hedging effectively but the fact that I do not should tell you something. Let us look at an example to further answer the question highlighted above. When you have short-term bearish momentum down, we take buys from key supports or MAs which act as dips. Remember that the market does not go up or down in a straight line (with the rare exception of short-lived parabolic moves). So, when the market is going down and hits one of our key levels, a buy from that point will go back up for 20 to 30 or 30 to 40 pips (this number of pips has been calibrated based on back testing) before resuming back down. You can think of it like this. The market moves in a zigzag manner. The zig is that part of the leg which is going down to create lower lows (if the downward trend is continuing). The zag is that part of the leg which takes a breather and pushes back up with momentum for our entry and quick pip-take range to create a lower high (if the downward trend is continuing) before heading back down again. We catch the right and safest waves (buys) in and out and surf to success. When price hits a key structural support or stops creating lower lows and lower highs, we then reassess for entries with a wider range of pip capture. Hope this post helps our followers to understand how we keep our psychology strong!! GoldViewFX XAUUSD TOP AUTHOR
OANDA:XAUUSDEducation
by Goldviewfx
18
What I've learned after backtesting So, I love backtesting. Recently I've found my self in a 3% drawdown and needed to figure out what the cause of it was and trading at this moment won't give me that answer. So, I decided to backtest. Here is what I found: 1. I'm overtrading my system I am a proud swing trader who got back into scalping the market in December 2022. It was mot my idea, but I thought I could handle it. I started out great, but then the market reminded me why I left the lower timeframes. 2. I'm not holding my trades long enough. Thanks Prop Firms! Since joining a prop firm my mind has been changed to holding trades for less time than I normally would. I don't mind holding trades for weeks or months, but prop firms give you time limits during evaluation periods. That was and still is a huge adjustment for me. Being a swing trader means I have to let my profits run. So, now, I've found a prop firm that will allow me to hold my trades with no time limits. 3. Not holding trades to my weekly and monthly targets. I need to see past my daily targets. Normally my daily risk to rewards are between 1:1 and 1:2. I'm in drawdown because I'm not recovering from my losses with these risk to rewards. So now, I'm only taking trades with RR over 1:2 and better. This way I'm trading less, holding longer(sometimes), and getting the best bank for my buck. Backtesting helped me see my mistakes and how to correct them. This is called fixing your strategy. Notice how I'm not changing my strategy. I'm tweaking my strategy to fit my mental capacity and trading style. If you find you're in a drawdown and can't see, stop trading and backtest what you're currently doing and find a way to stop the behavior thats causing your drawdown. Then, stop doing that particular thing so you can see better results. I pray this has helped you. Let me know your key takeaway by commenting below.
Education
by ShaquanLopez
53
Sold the USDCADThis is a sell trade of which analysis I did before now however I did not publish it. For the sake of learning and journaling I am publishing it now. This trade like every other trade I take is a trend trade. The USDCAD is trending down and gave a new low, I simply find and mark out the high and label my preferred sell zone represented by the red box. A sell limit order is good for a trade like this. As we see the price pulled back to the sell zone and continued its trend down creating a new low. I took good profit with a 1:2 risk to reward ratio. What to expect? I keep it simple and repeat the same steps the gave me this trade. keep following! I will be updating the chart analysis on USDCAD and publishing it.
Short
by StephenAdeniken
ETH - 2 Selling StrategiesBYBIT:ETHUSDT.P 4H time frame - ETH forms a potential HS According two uptrend(UT) lines, there are 2 opportunities to open short. - 1. Entry: if getting resistance from short-term uptrend again(~1577) TP: 1465 or reach lower uptrend SL: 1615 2. Entry: BO the long-term UT (~1521) TP: 1405, 1340 SL: High of right shoulder (~1663) - Notice: All price are set from the predicted trend, can set it more accurate based on the actual trend/pattern after opening short
Short
by EthanTW
Microsoft: You can do it 💻Despite the recent outage, Microsoft is fighting its way back to the top and should exceed the resistance line at $265.00 soon to continue its upwards slope. Our alternative scenario with a probability of 40% implies that the stock could tire and drop below the support line at $212.25, instead of rising to the top. In this case, the course would sink into the grey target zone to fulfill the superior grey wave alt. IV before heading back North in the longterm.
NASDAQ:MSFTLong
by MarketIntel
Trading Strategy. Basic principlesThe following clearly outlines my trading strategy, every day I seek out deals based solely on this strategy. Without regular backtesting (trade by trade), the results of trading are random and uncertain. The cumulative outcome of the R-multipliers should be positive, but, if a routine backtest is conducted (after executing numerous trades based on sequential trading processes that offer us an edge) The primary focus of our trading strategy is the risk-to-reward ratio (RR), where a large number of losses can be offset by a single profitable trade. - Entry requirements are sufficient to prevent market noise. - Position sizing ensures we have a consistent (fixed) risk every transaction, and we adhere to this algorithm on each and every trade. - Maintaining the advantage afforded by our trading method requires mental preparation for the fluctuations that will effect our account balance. Short-term losses should have no psychological impact! Entry Standards: We join the market based on key supply and demand sectors that play a significant impact in the structure of the market. We identify them by emphasizing the M15, H4 points of interest responsible for the structure's collapse. Once the price reaches our point of interest, we will watch for a reaction in this area, which will indicate if the price intends to move higher or lower. The objective is to identify where a substantial position was taken and wait for the price to return to that point in order to reduce the repercussions and ensure the price follows its actual intentions. Countertrend: - Monitor price action and reaction points closely. - Do not be greedy; if required, close such deals sooner, but not before 3R; bring the trade to the following supply/demand zone. - Keep a close eye on price movement and response points when entering a trend. - Enter a trade based on the candle that triggered the CHoCh, move it to the next high/low level, and partially close if momentum appears to be waning. - There is no need to move the SL aggressively; instead, let the price to fluctuate and move the entry to break even only after the initial LH/HL is created. 4H Definition of Market structure Determine the price's response to important zones on a daily/weekly basis. How should I mark the chart? 4H - swing highs and lows - B.O.S - Supply and Demand zones - Liquidity H/L, EQH/EQL, internal liquidity trend - Orderflow structure HL - HH or LH - LL 15M How should I mark the chart? - fluctuate between highs and lows - ChoCh/BOS - Demand/supply zones - Liquidity, liquidity zones/points, strong/weak H/L, liquidity before poi - Premium/Discount - short discount and long premium. - Order flow 1-5M How should I mark the chart? - Liquidity grab (sweep) - Mitigation/RTO - S/D flip
BITSTAMP:BTCUSDEducation
by Crypto4light