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How to Spot the Confluence Zone | Pro Fibonacci Technique If you are struggling with the identification of accurate trading entries, you definitely should try confluence zones. Note: there are hundreds of variations of confluence elements. In this example, we will discuss trend lines and fibonnachi. ❗️To identify a confluence zone, the price must follow a trend line (it should match higher lows if the market is bullish ; it should match lower highs if the market is bearish ). Once the trend line is confirmed by at least two touches and consequent reactions, you can look for a confluence zone. 1️⃣Project a trend line and identify the next POTENTIAL touchpoint of the market with a trend line . 2️⃣Take the last impulse in the direction of the trend. Draw a fib retracement based on it (swing low to swing high in case if the market is bullish , swing high to swing low in case if the market is bearish ). 3️⃣Take the previous impulse (it must be in the same direction as the initial one). Draw a fib retracement based on it. 4️⃣Look for a match of retracement levels of the last two impulses and a projected trend line . In case if two retracement fib.levels & trend line match, you found a confluence point. 5️⃣ Apply it as a safe entry point. You will get a perfect trend following opportunity. Let me know, traders, what do you want to learn in the next educational post?
Education
by VasilyTrader
9
Best advice for achieving success in trading!✅Here's the deal, guys. If you want to make this year a successful year in trading, you got to have an edge. It doesn't have to be rocket science, just a solid strategy. There are plenty of resources out there, so don't be shy to do your research. Once you got a strategy, test it out with a small account or paper money before committing fully. And when you commit, commit fully. Don't be that person that changes their mind after one loss. Ignore the noise on social media and focus on your own system and 'PnL. It's none of your concern how other people are trading. Don't buy the hype. You're not going to turn chump change into a fortune overnight. Trading has its ups and downs. So, don't be caught off guard and expect the unexpected. And always be ready for the ride. And here's the truth, not every trade will be a winner. But there will be a select few that'll make up for the majority of your 'PnL increase. Just make sure you have enough capital to cover 'bills, taxes, and other boring stuff. And don't be dumb and emotional. Risk management and trading psychology are crucial. If you're having panic attacks before executing a trade, it's a sign you're either not suitable for trading or you're taking excessive risks. Take a step back and assess your current financial situation and the amount of money you're putting in. Embrace failure as fuel. It's not a setback, but a lesson in disguise. Realize that success is not a straight path, but a journey full of ups and downs. And lastly, come prepared. Write down a plan for each day, whether it's a simple excel sheet or a written plan. It'll help you stay focused and aware of what's happening in the markets. And remember, trading is hard. Don't fall for the social media hype that makes it seem easy. Happy trading!
COINBASE:BTCUSDEducation
by TradingEdgeHQ
Learn to Read the Strength of the Candlestick | Trading Educati What it is? Candlestick rejection strategy is a pure price action swing trading strategy. It makes use of the concept of price rejection or candlestick rejection patterns to invalidate counter-trend momentum for a trade continuation. By applying such candlestick rejection strategy onto swing trading, it allows trades to capture spots at which market prices are at rest during retracements before rejoining back the existing dominant trend. How to use? Some trade recommendation for such candlestick rejection strategy is to use it as a candlestick rejection pattern on counter-trend moves. This means that we pick candlestick rejection pattern only for the sake of searching for breakout continuation with the dominant trend at counter trend waves.Entry can be made after the breakout occurs at the high or low of The Mother Bar and stop loss order can be placed at the opposing breakout side's high or low. Further trade help can also be incorporated to help increase the trade's probability of success. For instance, it can be used together with other technical tools such as dynamic moving averages and Fibonacci retracement tool. Some may even want to consolidate other trading strategies to further increase trade’s probability of success. ✅LIKE AND COMMENT MY IDEAS✅ Please, like this post and subscribe to our tradingview page!👍
OANDA:BTCUSDEducation
by EliteTradingSignals
5
Why you should only think about charts when looking at chartsHello? Traders, welcome. If you "Follow", you can always get new information quickly. Please also click "Boost". Have a nice day. ------------------------------------- When looking at the investment market, the first thing to do is to analyze the chart, and I wanted to say that the most important thing is how to create a trading strategy that suits your investment style with that chart. ------------------------------------------------- Most people try to predict the movement of the investment market by looking at the announcement of various economic indicators and the contents of global issues (war, corona, etc.). A big issue must be something that can cause great volatility in the investment market, but it is also clear that when such an issue accumulates, it can no longer create volatility. So, you should be careful that trying to predict the movement of the investment market with such issues can make a wrong prediction. Sudden big issues For example, in the case of a global shock due to an issue such as the 9/11 terrorist attack, it may cause great volatility without time to respond. Other than these issues, most of the chart's price movement will react first. In order to see this pre-reflection in advance, you need to look at the chart without reflecting factors that can change your psychological state, such as the announcement of various economic indicators or global issues. I don't think this kind of work is a big deal, but it is a very important factor that occupies a fairly important part of investing. We need to think a lot about how to figure out the trend only with the movement of the chart, away from the announcement of various economic indicators and thoughts about global issues. As it rises above the indicator called Low, which was created on June 19, 2022, we can see that it is splitting the flow of the chart in half. A change in the -100 indicator has always completed a low. Although it is currently showing a different look than before, it will form a low as long as the -100 indicator is created. The +100 indicator is an indicator that starts generating when a high is formed. Therefore, a rise above the +100 indicator means that the uptrend to break the high is likely. Therefore, in order to show a full-fledged uptrend from the current price position, it must rise above 38K. The high point has been holding for a long time now. However, the low point has not yet formed a clear point due to the change of the -100 indicator. However, as the -100 point is moved near the current price range, the possibility of forming a low is very high. This shows that we are facing a new trend. Keeping the price above 17941.69 is most important from a short-term perspective to create this new trend. The next most important thing is to keep the price above 20552.75. Then, it completes the appearance of a trough (a phenomenon in which the price drops more before making a bigger rise) before showing an uptrend. The StochRSI indicator is showing a fairly rapid decline. We will verify what we said above by looking at where the Stoch RSI indicator finds support and resistance when it turns upside down. This change in support and resistance points can tell you which direction the movement of the current chart is about to head. You may think my explanation is inconclusive, but the conclusion has already been drawn. We live in a flood of information. It is quite difficult to infer an objective conclusion by synthesizing such a large amount of information. Therefore, it is necessary to objectify all information using objectified tools and indicators. Many celebrities' chart analysis methods and trading methods are introduced on the Internet or in books. In order to make the contents of these people my own, it can only be acquired through numerous transactions and numerous experiences. Over time, trends change and all patterns change and evolve. In order to read the chart in line with these changes, I think it is better to use a simpler and faster way to analyze. This is because you can keep up with the ever-changing trends. It is more important to make your own mental state stable due to volatility by investing more time in the trading strategy than the time used for analysis. What do you guys think? -------------------------------------------------- ------------------------------------------- ** All descriptions are for reference only and do not guarantee profit or loss in investment. ** If you share this chart, you can use the indicators normally. ** The MRHAB-T indicator includes indicators that indicate points of support and resistance. ** Check the formulas for the MS-Signal, HA-Low, and HA-High indicators at (). ** SR_R_C indicators are displayed as StochRSI (line), RSI (columns), and CCI (bgcolor). ** The CCI indicator is displayed in the overbought section (CCI > +100) and oversold section (CCI < -100). (Short-term Stop Loss can be said to be a point where profit or loss can be preserved or additional entry can be made by split trading. This is a short-term investment perspective.) ---------------------------------
INDEX:BTCUSDEducation
by readCrypto
10
EURAUD - Long EOD set upThe technicals give me the signal but if anyone is interested in rate hikes and fundamentals, may be take a slice of advice from Bank of America. © Oliver Levingston Merrill Lynch (Australia) oliverllewellyn.levingston@bofa.com • The RBA will likely deliver a third consecutive 25bp hike next week. A cooler monthly inflation print has investors betting on a lower terminal rate in 2023 • The AU curve still looks too steep and we see inflation risks as increasingly skewed to the upside. Slowing down, not a slowdown We expect the Reserve Bank of Australia (RBA) to hike the cash rate by another 25bp to 3.1% at its 6 December meeting. Markets are pricing in a 76% chance of a 25bps hike (24% chance of a pause) as at the time of writing. The message will echo its determination to keep the economy on ‘an even keel’, balancing the challenge of suppressing rising inflation with the risk that rate hikes could tip the economy into recession. The RBA has moved cautiously on rate hikes: not only was it slow to lift off, waiting until May 2022 to do so; it also surprised markets by downshifting to a 25bp hike in October, becoming the first major DM central bank to slowdown the pace of rate increases. It then stuck to its gradual hiking pace at its November meeting, despite a strong 3Q CPI print (see RBA review: Sticking to 25, 1 November 2022). The RBA has cited the high frequency of its meetings – the RBA meets 11 times, the FOMC and ECB each have 8 meetings scheduled per year – as a reason why it can afford to take a gradual approach. Market pricing reflects increasingly dovish sentiment – markets are now pricing rates to rise to just 3.5% in mid-2023, down about 30bps in a month. Optimism on rates grew after the RBA’s monthly CPI for October, released on 30 November, showed both the headline inflation slowing to 6.9%YoY (vs. 7.3% in Sep) and the trimmed mean measure easing to 5.3%YoY (5.4% in Sep). However, we caution that for October, the new monthly series contains only 62% of the price data used in the Australian Bureau of Statistics’ (ABS) quarterly CPI – it omits, for example, new information on many administered prices such as utilities, which are not priced until the final month of the quarter. For these reasons, the RBA has stated that “the quarterly CPI is likely to remain the principal measure of CPI inflation in Australia for the foreseeable future,”1 making it premature to call for a peaking in inflation based on the October monthly CPI print. Nor does it change the fact that inflation is likely to remain well above the RBA’s target band of 2-3%. Yet the RBA will likely remain less hawkish than its counterparts overseas. Australia’s Wage Price Index (WPI) has only recently started to pick up above 3%. The RBA does not yet see signs of a wage-price spiral, though it has stressed the need to remain vigilant. It noted in its November Statement on Monetary Policy (SMP) that “reports of higher labour costs contributing to price increases have so far been largely contained to price increases have so far been largely contained to a few specific sectors.” A softer retail trade print (-0/2% MoM) and Governor Lowe’s apology before the Senate for the RBA’s (abandoned) promise to hold interest rates steady out to 2024 have added to growing expectations of a lower terminal RBA rate. For these reasons, the risk of a recession in AU in 2023 remains a low probability and the risks to inflation remain skewed to the upside, in our view. The RBA’s restrained approach, sustained strength in the labour market and a continued boost from a record term of trade make an economic contraction less likely than peers. We do not have cuts in our profile. Waiting for the wave The main risk reflected in market pricing and the RBA’s published commentary is that households have not yet sustained the full impact of rate hikes. We have pencilled in hikes until May 2023 just before the mortgage rate reset wave accelerates in mid-2023. The maturity profile of fixed-rate mortgages taken out when lending rates were as low as 2% suggests the “cliff” may have traction. The line of questioning at Governor Lowe’s attendance before the Senate Economics Legislation Committee and public speeches from the RBA confirm that fixed-rate mortgage resets are at the front of their minds when they consider risks to the economy. Yet Australia continues to enjoy meaningful protection from downside risks, in our view. A positive terms-of-trade shock that has reduced Australian Government funding requirements also means the challenges of housing headwinds should be easy for policymakers to counteract should we see signs of household distress in 2023. At the same time, a long period of low unemployment is likely to generate higher wages and partly offset the dampening effect of rising loan payments on consumer demand, reducing the risk of a housing-led downturn. On the upside, the prospects of a substantial shift away from COVID Zero policies in China continue to gather pace as a steady stream of announcements suggest the country is like to gradually reopen in 2023. The Chinese reopening could boost Australian GDP and increase the scope for the RBA to tighten rates further. We see the RBA holding rates at 4.1% from May 2023. A rise in cash rates and signs of economic resilience should mean a flatter curve. We have also maintained a view that the AU 2s10s curve is too steep relative to other developed markets (a positive slope of 40bp for AU government bonds compared to -72 for the US). We continue to like a box flattener (AU steepener vs US flattener) and outright AU curve flatteners.
Long
by Macrobriefing
EURJPY long End of Day trend follower (EOD)Here is what the fundamentals are following the ECB rate decision today, words from ©Lloyds Bank European Central Bank (Dec): We're not pivoting The European Central Bank (ECB) raised interest rates today by 50bps, in line with expectations. It follows 75bp hikes in the last two meetings in September and October, and a 50bp rise in July. There was broad agreement (not unanimity) on the decision and it brings the deposit rate up to 2%. There were similar increases in the main refinancing rate and the marginal lending rate to 2.5% and 2.75%, respectively. Policy rates have been raised by a total of 250bp since July (Chart 1). Although the hiking pace was reduced today, the ECB warned that interest rates will “still have to rise significantly” and that they will be kept at “restrictive levels” to dampen demand and guard against second-round effects on inflation. President Christine Lagarde indicated that more 50bp rises could occur early next year (the next update is on 2 February). She said, “we’re not pivoting” and that the ECB is “in for a long game” and there is more ground to cover. Current inflation was described as “far too high” (Chart 4) and forecast to stay above target for what is seen as “too long”. The ECB’s new quarterly economic projections upgraded inflation for 2023 to 6.3% (from 5.5%) and for 2024 to 3.4% (from 2.3%). The first forecast for 2025 is 2.3%, still above the 2% target (Chart 2). The ECB envisages a “short and shallow” recession – while next year’s GDP growth was revised down to 0.5%, it remains above the consensus forecast (Chart 3). Detail on the start of quantitative tightening (QT) – the reversal of QE – was also provided today. The ECB said that from March it will no longer reinvest fully the proceeds from maturing assets held in its Asset Purchase Programme (APP) portfolio. From March until the end of Q2 next year, the average decline will be €15bn a month, meaning that about half of estimated redemptions wil be reinvested (Chart 7). This degree of detail could also be interpreted as hawkish, because it reinforces the impetus to reduce the ECB’s balance sheet (Chart 6). Overall, while today’s interest rate decision was expected, the messaging was nevertheless surprisingly hawkish. There seems to be increasing disquiet about persistent upside surprises to inflation and the extended period in which it is expected to remain above target, while the economic downturn is now perceived as potentially less severe than previously feared. The market reaction saw the euro rise above $1.07 for the first time since June, while the pound fell below €1.15. Markets now expect the ECB ro raise interest rates above 3% next year. Hann-Ju Ho Senior Economist That may be the fundamental reason and may be I am a little early in my trade idea as today's candle hasn't closed.I am assuming that we don't make a new higher high before the end of the NYC session.
Long
by Macrobriefing
What makes you start trading (trading strategy)Hello? Welcome, traders. By "following", you can always get new information quickly. Please also click "Boost". Have a good day. ------------------------------------- The HA-MS indicator is a combination of the previously disclosed HeikinAshi_Point (HA-P) and MACD-Total (MACD-T) indicators. (The formula for this indicator will be released again soon.) The MS-Signal indicator that can confirm the trend was created using the formula of the MACD indicator. Using Heikin Ashi, H.A. (Heikin Ashi body), HA-Low, HA-High indicators were created. The HA-Low and HA-High indicators were created for trading purposes. Therefore, you can proceed with trading depending on whether you are supported or resisted by the HA-Low and HA-High indicators. In addition, the H.A. indicator (Heikin Ashi body) can also be used to view trends along with the MS-Signal indicator. In order for the price to rise 1. The Heikin Ashi candle should switch to an uptrend. 2. It should rise above the HA-Low indicator. 3. It should rise above the MS-Signal indicator and the MA-Signal indicator should turn into a bullish indicator. When all three of the above are satisfied, it can be interpreted that the price has turned upward. For the price to continue its uptrend (for the price to surge), it must rise above the HA-High indicator and hold the price. In particular, in order to see the mid- to long-term flow of MS-Signal indicators, the M-Signal lines corresponding to MS-Signal indicators corresponding to 1M, 1W, and 1D charts are displayed on all timeframe charts. Therefore, we wanted to avoid the part where you could miss the big flow when you keep looking at the lower timeframe charts. In addition, the 5EMA line of the 1D chart was displayed in the low frame chart to prepare for sudden movements. This is because we see the price rising along the 5EMA line on the 1D chart to indicate that the price is soaring. If supported by the HA-High indicator, it is likely to surge. Conversely, if you encounter resistance on the HA-High indicator, there is a possibility of a sharp decline, so you need to be careful with your movements when you touch the HA-High indicator. the start of the downtrend 1. Heikin Ashi body turns into a bearish indicator. 2. Receive resistance at the HA-High indicator. 3. As it falls below the MS-Signal indicator, the MS-Signal indicator should turn into a bearish indicator. Therefore, if such a movement is detected after the price has risen, it is better to preserve profits with an appropriate response. In order to preserve profits by split selling, it is good to do it while the price is rising, but after a sharp rise, it is necessary to split sell in order to preserve profits in line with the above-mentioned signs of a downtrend. A fall below the HA-Low indicator means you never know when it will rise. Therefore, it is necessary to review whether stop loss is possible to preserve profit and loss when resistance is received in the HA-Low indicator. If it rises above the HA-High indicator, there is a high possibility of a sudden movement, so a quick response is required when making additional purchases. Also, if you find resistance on the HA-High indicator, you should consider whether you can sell in splits as this could lead to a sharp downtrend. We believe that this indicator provides minimal information to proceed with the trade. The important thing in trading is your trading strategy. To create a trading strategy, you need to think in terms of 1. the duration of the investment, 2. the size of the investment, 3. the way the trade will be done and how the profit will be realized. 1. Investment period The investment period is to think about how long the coins (tokens) you are trading will be traded over a long period of time. This is because the investment size, transaction method, and profit realization method are different when making a trade through short trades such as same-day trades and short-term trades and when conducting trades for large profits by purchasing for a long period of time. Therefore, you should think about the investment period first before buying. Therefore, it should be oriented as it can lead to very bad results in the mid- to long-term to carry out trades that have been processed for same-day trading or short-term trading. 2. Investment scale The investment size will set the appropriate funds according to the investment period. Therefore, if the investment period is not properly followed, the distribution of the investment will be twisted, greatly affecting future transactions. For mid- to long-term investments, the initial investment capital should be small. Otherwise, if you spend a lot of money right from the start, you're likely to feel a lot of psychological pressure from boredom or less profit from other trades as the holding period increases. These issues will raise another issue of lost time. Therefore, the shorter the investment period, the greater the use of investment funds at the beginning, and the funds should be concentrated on mid- to long-term investments as the investment progresses. This movement of funds should be done slowly as the coin market begins to enter an uptrend. 3. How to trade and how to run profits The trading method is different for same-day trading, short-term trading, and mid- to long-term investment, but basically, when you start trading, you must first set a buy point, a sell point, and a stop loss point before proceeding. If you can't set this up, I don't recommend trading. The first buy point and the first sell point can be the start and end of a trade for same day or short trades. In the case of mid- to long-term trading, it can be the starting point of a purchase, and the second and third buying points and stop-loss points are set according to this buying starting point. The first selling point is the target point that is reached for the first time after the purchase is in progress or after the purchase is completed. This psychological stability plays a very important role in mid- to long-term investment, so it is important to sell a certain amount at the first selling point. How to realize revenue 1. Sell 100% for Cash Profit 2. Increase the number of coins (tokens) corresponding to profit by selling as much as the purchase principal No matter how you take profit, the ultimate final trade close is to sell 100% for a cash return. However, the difference in return may vary considerably depending on the investment period. 100% sold coins (tokens) can be re-entered when one cycle of wave is over. If you ignore this and start trading again when one cycle is not over, you can make the mistake of selling 100% of the profit and turning it into a loss. Therefore, 100% selling is recommended only for same-day trading or short-term trading. No one knows how volatile the coin market cycle will be in the future. As regulations on crypto assets are currently underway in countries around the world, volatility may be lower than the default. Even so, it is very important to increase the number of coins (tokens) corresponding to the profit, because the more coins (tokens) you have, the greater the profit. As an individual investor with limited funds, it is an issue that cannot be ignored in order to achieve greater returns. This is because it is important to increase the number of coins (tokens) corresponding to profits through many transactions in order to obtain greater profits with limited funds. Analysis of charts and analysis of the coin market are only analysis and are not directly related to profits. A trading strategy is absolutely necessary to profit from analytics. To create a trading strategy, you need an eye that can identify coins (tokens). In order to trade the selected coins (tokens) with such an eye, it is necessary to determine the investment period and investment size. And then I'm going on a long journey to profit. In order to overcome the many obstacles that will be faced with the start of the transaction and arrive at the desired destination, it will be necessary to respond to reduce the psychological pressure. Therefore, more time should be invested in creating and modifying trading strategies than time invested in analysis, and based on this, you should seek psychological stability. Thanks for reading to the end of this long post. We congratulate everyone on their successful investment. ---------------------------------
Education
by readCrypto
Candlestick Rejection Strategy! What it is? Candlestick rejection strategy is a pure price action swing trading strategy. It makes use of the concept of price rejection or candlestick rejection patterns to invalidate counter-trend momentum for a trade continuation. By applying such candlestick rejection strategy onto swing trading, it allows trades to capture spots at which market prices are at rest during retracements before rejoining back the existing dominant trend. How to use? Some trade recommendation for such candlestick rejection strategy is to use it as a candlestick rejection pattern on counter-trend moves. This means that we pick candlestick rejection pattern only for the sake of searching for breakout continuation with the dominant trend at counter trend waves.Entry can be made after the breakout occurs at the high or low of The Mother Bar and stop loss order can be placed at the opposing breakout side's high or low. Further trade help can also be incorporated to help increase the trade's probability of success. For instance, it can be used together with other technical tools such as dynamic moving averages and Fibonacci retracement tool. Some may even want to consolidate other trading strategies to further increase trade’s probability of success. Thank you for reading, we hope you enjoyed our educational effort!
OANDA:XAUUSDEducation
by UnitedSignals
5