Hello Traders. Hope everyone is staying warm. Snow and zero degree temperatures expected in Virginia.
Many traders use many different indicators. There are so many its impossible to tell which ones are useful. Simplicity is key.
The most important tool in a traders toolbox is the ability to deceiver the prevailing trend. Using higher high/ lower low analysis we...
For those who already know or simply heard about Sinewave oscillator created by J.Ehlers out of Hilbert filter formulas... The PRO Sinewave indicator will stun you !
For those who don't, well you might be missing a very interesting market approach and I suggest you to google the two names above to eventually start tipping a toe into the beautiful cyclical world of...
I want to show with this example how the price in a lateral movement oscillate in ranges between supports and resistances lines.
The target is the following, if the price bounces on a resistance, make a short until it reaches the support level.
If it bounces on a support, make a long until it reaches the resistance.
If the price breaks a resistance, make a long...
I would like to show you a good example explaining why we should use pending orders for entry the markets above/below important zones. Several days ago I wrote about possible trading opportunity for Ethereum Classic. You can find this post in related ideas. I wrote that the price bounced from the resistance zone which was formed by SMA100, the downtrend line and...
Intersection is when price is on 2 or more signal/set up that points out to the same direction.
In this example:
1. Price broke the trend line resistance and retested it as a trend line support. (Buy signal)
2. Price is at horizontal support (Buy signal)
I first heard about Supply and Demand trading from @Tradewonk, his analysis using this are great!
I also ask him about it and he gave me a link to his Ideas about it
I also tried searching the internet about it and came up with this idea. @Tradewonk, can you confirm if I got the idea correct?
Note: This idea only explains Supply Zone, but this is also true for...
In this post i wanna share one of my method in analyzing price movement.
sample 1 :
we have symetrical channel up. After channel up resistance broke up, that resistance line will become support in next wave. Price action will try to break it as correction pattern.
sample 2 :
Again, we have same pattern here, symetrical channel resistance broke up with bullish...
-is to find out if the momentum is getting stronger or weaker, if the chart make a higher high and the indicator made lower high so it refer to; the momentum is decreasing, in order to spot the (breakout from fakeout)
-in this example we have a rectangle consolidation, you can see the first breakout was a fake out, here we'll use divergence to spot this fake out...
Good chart reading and technical analysis do not have to be complicated. A trader should focus on a few key principles when trying to understand a price chart.
In my trading, I have stripped away everything that doesn’t provide value and I have optimized the points on my checklist that I use to read price charts. Below you see the current EUR/USD chart on the...
Too many traders see harmonic scans as black or white, trade or no trade, winning trade or losing trade. Exact same with forks. Sometimes, they work off each other. If I catch a scan in a fork, great. But THE BEST forks are often drawn AFTER the scan ... as the scan's swings are very significant, and using them to align a fork will almost always give-up pips after...
Here is a real life example of a Downtrend on NYMEX Crude Oil Daily Chart. This example is intended to help you identify the downtrend correctly(Same procedure goes for an uptrend). It might look confusing at first sight. However, if you start reading the chart from the left hand side and move with the price action it will make sense in no time.
Check image:...
If you hit the google search looking for the term “Trend”, one of the first results should be “A general direction in which something is developing or changing.”. And that is common sense and intuitive. The trend is a dominant bias in any aspect of life. For example, we could say that the trend for classic 19th century men caps is strongly dominant these days. And...
Many traders think pitchforks are used to only identify the trading opportunities inside the fork. While they do that, they also serve as future trade set-ups. Forks are created out of Fibonacci relationships (SH-SL / SL-SH) and thus are Fibonacci-energized. As you can see, S&R that the fork points out, remains AFTER the fork is breached. :)
So this may stir up some controversy but its not meant to be that way. Only that this is my own opinion and not meant to disparage other OP's who post trades based only on support/resistance levels.
First, let me say that yes, I firmly believe that support/resistance levels are important and that they do play a very important part in determining what happens to...
After seeing several charts on this site, I've noticed some common mistakes; re-tracement levels, pattern recognition, wave counts, and, trend-lines, along with, channel formation cover a lot of them.
Some thoughts:
Re-tracements / Projections don't always conform to 0.62 /1.62 ratios. Think about it. Is a 62% re-tracement really bullish? 38% and 50%...
Every time that we are looking for Support and Resistance, we are always wondering when will our price finally go up or down, in order not to risk your accounts, you can use the following MACD strategy and look for any price divergence.
MACD Strategy:
Fast Length: 3
Slow length: 10
Source: Close
Signal Smoothing: 16
Happy Trading!!!
