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Trendanalyisis

The Value of PriceA basic concept in price action trading is that when it comes to the analysis process of price, some candles are more valuable than others. By "more valuable" I mean, some candlesticks have more weight in the analysis process of price than others. Before I explain which candles have more inherent value, let me explain a bit of price action philosophy. When it comes to an asset's price, or even the market in general the price action trader believes that it is a living breathing entity. Just the same as you and I, the market's movements differ from day to day and past behavior does not predict future behavior. That said, just like you and I, the future behavior of an living breathing entity is much easier to predict if based on the analysis of recent behavior. So in other words, if I were to predict your next move, it is much easier and practical to base that analysis on your recent behavior, rather than your behavior 2 years in the past. So this core philosophy pretty much dictates how you can set values to price. Simply put," Current price is more valuable than past price in terms of the analysis process". So if you were to predict the future direction of the price of an asset, it is wise to analyze current price rather than past price; simply due to the fact that past price has less weight in terms of the analysis process than current price.So for example, if your analysis of price for the last 3 months was stating that price will rise in the future; however this week's price is stating that price will fall, the price action trader will not hesitate to sell as dictated by their analysis of current price. So the next time you find yourself confused about the future direction of price due to conflicting signals. Ask yourself, " what is current price telling me about the future direction of price?" and let past price stay where it belong, "in the past." That's it! Have a great day! Ken
Education
by TradingForexPriceAction
1
EUR/USD: patiently waiting to pull the "BUY" trigger. No rush!Firstly, by zooming out and monitoring higher-timeframe graphs, we may observe that the sentiment of the EUR/USD market is clearly bullish as the price has managed to push above the level of the previous HTF Higher High point. Last week, we expected for some correctional moves to kick in and drive the price down in the short run before further bullish resume. However, after consolidating for a while, the USD fundamentals were able to push the price higher and form a new HH point. The price moves in cycles. In other words, step-by-step and not like a straight rocket. And thus, we are awaiting for the price to experience a short-term drop and reach the important area of support plotted on the graph that lines up with the 0.382 Fibonacci retracement level before we can execute long positions and ride the trend to the upside.
by Investroy
8
NiftyBank trend for tomorrowToday a V- shaped recovery has been seen in Niftybank from previous day's low of 41900 today it stand near 42500approx and it moves beyond that and went upto 42700. If this upward trend sustains above 42700 for tomorrow then it will hit 43000++ and will show strong momentum. But it has reversed somewhat today which shows a clear indication of inverted head and shoulder pattern on a 15 min timeframe which says if it crosses below 42300 and sustains below that then niftybank will hit 41900 and fall below that which will ruin everyone's portfolio to some extent. So, basically what I am trying to say is that opening and the market momentum after half day will clear our confusion. Moreover DIIs buying in cash market was more than the sellings by FIIs today.
NSE:BANKNIFTY
by TripuraInvescorp
2
COST - Who doesn't love costco?Costco is probably one of my favorite places to shop and I think the stock price over the last 14 years has proven that to be the case for a lot of people. The main issue I have with buying this stock is valuation and growth of the company. I don't see how they will be able to grow fast enough to support a 35+ PE ratio. Taking the fib from the 08 lows to the 2022 highs, we get targets around 395, 327, and 258 for the 38.2, 50.0, and 61.8 retracement levels. If you think about it, 258 from a valuation perspective only starts to make the stock a reasonable price at about a PE of 20 assuming 13.23 EPS. It looks beautiful from a long term trend perspective and I think it has many more years to grow, but I wouldn't touch it unless it was 308 or less purely from a fundamental perspective. Might look to short this one this year. This is not financial advice. Good Luck!
NASDAQ:COSTShort
by ChrisPtaco_32
1
(USDCAD) LOOK FOR BOUNCE FROM SUPPLY ZONE 1.35000!!Hope everyone's enjoyed a break, I took a lot longer then expected with moving in the process so I will have a mic set up very soon for more chart insight from myself! Anyway I thought id just share my view here on USDCAD and then cover some more pairs on request... The start of January is always quiet but as price picks up ill be watching this pair around the key area of 1.35200 for a possible bounce to continue in the current 4hr zone or a possible break of sideways structure for a move lower.
Long
by jamison_fx
1
BTC Bulls Next Target is $17600-$18200 After This HappensBitcoin Bulls are ready for some good green Holidays in December, The current pullback after hitting $16800 could go further down to a more stronger support range at $15800 - $15450 range. This range will provide buyers with sufficient buy capital to attempt the $16800 resistance of which I so see them clearing through it to hit $17300, but here I see market makers targeting Sellers(Shorters) stop-hunt around the $17600 all the way up to $18300. I'm staying open minded on the support and a possible worst case scenario triple bottom could arise because for now the current Dojis on weekly support shows anything can still happen, What are the chances that the bulls will make it to above $18k in Dec? I say we have over 75% chances of bulls making it to $18k and over 65% above $20k The current pullback must not go below last low of $15433 range to be more open minded, I do see that from December 2022to January 2023 will give buyers the opportunity with the current accumulation on going to achieve a little more recovery to the upside before a major more dump coming from Mid 2023 to 2024.
by MachiavelliTrader
SPX: Be AWARE of these KEY POINTS!• In the 1h chart, the key resistance is the green line at 3,974, as this area was a multiple resistance for the index last week; • Only if the index breaks its key resistance it could resume the bull trend and seek higher levels again, like the 4,083; • On the other hand, the main support is the red area seen in the daily chart, and as long as the index stays above this area, it won’t reverse the mid-term bull trend; • The mid-term trend is bullish because the index is doing higher highs/lows and it is trading above the 21 ema since October; • The 3,911 seems to be the key support level, as only if the index loses this line it would do a technical reversal sign; • For now, it seems the index is in a “no man’s land”, and we must wait for a proper reaction. I’ll keep you updated on this. Remember to follow me to keep in touch with my daily analyses!
SP:SPX
by Nathan_The_Finance_Hydra
SPX: Bullish reaction above a support. What to expect next?• The index is trying to react this morning, and the timing of this reaction is quite good, after all, it is just above our support area, which I mentioned yesterday; • What’s more, yesterday’s candlestick indicates stabilization, while the 21 ema was working as a resistance; • Now, the index is just moving according to our previous analysis, and if it closes above the 21 ema again, it might bounce to the 4,083; • The 4,083 is a key resistance and it was a gap area; • Only if the index loses the 3,911 I see this bull trend getting weaker. So far, nothing new or surprising is going on. Another update tomorrow. Remember to follow me to keep in touch with my daily analyses!
SP:SPX
by Nathan_The_Finance_Hydra
3
SP500 Correction Alert: Supply&Demand, Ichimoku & Trend AnalysisHello friends, SP500 is going to experience a rough patch in 1H timeframe. as shown in the chart, two long term and short term upward trend lines are broken . also from an Ichimoku point of view, conversion and baseline have crossed downward with a red Kumo cloud switch and the price is below the kumo cloud. this is one the most powerful Ichimoku signals. so its probably very wise to close all speculative long positions if you have any, meanwhile I suggest opening a short position with stop loss at: 4020, and take profit at 3730 which is the next demand zone and is marked by an order block . this short position has the risk to reward ratio of 2.6 . Please manage your risk responsibly and make informed decisions. Good luck!
SP:SPXShort
by Arzesh
LIQUIDITY RUNSLiquidity runs occurs when price gives a false break out below a support or above a resistance and the purpose is usually to take out the stops or liquidity lying around those areas. This liquidity is then used by market makers to open their large positions in the opposite directions. When a false break out occurs below a support, stop losses belonging to retail traders are wiped out and retail break out sellers get trapped. The opposite happens at a resistance level. Liquidity run is my favorite strategy when I'm anticipating market reversals or at times retracements like what happened with dollar pairs yesterday (5th Dec 2022).
FOREXCOM:XAUUSDEducation
by JayForexAcademy
HullBuster | USDCAD breaking out to the upsideGann Technical Analysis: USDCAD 4 hour chart On this chart we measure the valley formed on 10 May 2021 which peaked out on 14 October 2022. Applying our Gann fans we can see a very nice symmetrical Gann pattern where all of the price action is neatly contained within the 4:1 and 1:4 lines. Overall, it’s a relatively shallow rise over the span of a year or so. However, it made a decisive move in September by piercing the 2:1 line. We’ve had some choppy trading since hitting the peak but the fall couldn’t break the descending 1:4 line. According to Gann principles this instrument is clearly going up at least until the declining 4:1 line. A break above the 8:1 line could see significant upside potential. While a fall below the 38% on the Gann Timing Box would indicate renewed dollar weakness. Happy Trading and Happy Holidays! Methodology: I use external Gann software to calculate the angles. The software uses a fixed grid calibrated per instrument. I use the TradingView Gann Fan to illustrate the analysis. It is not used in the calculation so the angles do not match your viewport orientation. Please see my angle gauge for a 360 degree representation of the calculation result using the current instrument price as of this date. The peak angle is represented using negative coordinates so as to preserve the Gann parlance and event recognition. It is not part of the formal indicator. William Delbert Gann (1878-1955): Commodities trader who developed a technical analysis method using geometric angles to forecast price movement. The core of his work relies on pivot points and lines drawn at fixed rates of speed. He is also the author of numerous finance books and trading courses. Although he developed several time and price indicators, this analysis uses only two: the Gann Fan and Gann Square. Fundamental USDCAD: The CAD is the official currency of Canada since 1858. The Canadian Dollar is a global reserve currency ranking as the fifth most held by central banks. Canada itself is a nearly two trillion U.S. Dollar economy measured by gross domestic product. It is a country rich in natural resources specifically lumber, minerals, oil and natural gas. In the forex market, the value of the CAD fluctuates in response to demand for its natural resources pegging the USDCAD as a commodity currency. In addition to its resources, Canada is a major exporter of finished goods. Namely, aircraft, plastics, equipment and machinery. Also, Canada has a vibrant local economy and is subject to much cross border activity with the United States. Needless to say, this is a very stable and widely held currency that sees its cross rate value strengthen during favorable RORO periods.
Long
by tradingtudi
2