Hey, I am back, this time with something, kinda unusual, and I dont know If you like this kind of stuff, but here is some education for you to make a better trading decision in your future!
Okay, so I would like to teach you a bit about MACD and how is this indicator connected to trendlines.
In this chart you can see three flags, each flag can be bullish or...
A basic guide on how to play the descending triangle breakout.
(Kirkpatrick and Dahlquist, 2010, p. 315)
(Bulkowski's Descending Triangles, 2005)
Kirkpatrick and Dahlquist state that descending triangles breakout to the downside 64% of the time (2010, p. 315).
"Price Breakout Down: Price fails to gain at least 5% from breakout 16% of the...
I'm aware the title has offended you. Read through this post anyway, I'm sure I touch up on your complaints.
Stop forming your identity around your strategy. Even I am not immune to this. it’s all too common to form a personal relationship with the tools you’re using to trade. Whether that’s the indicators on your chart, your Gann shooting star wave pattern...
I've already written my "Trading Recap" blog post for today but I wanted to share something with you guys. For you guys that have been following along with my blog you know that I've been working on an article looking at professional athletes and professional traders. One of my main comparisons is the amount of preparation and review that both do.
This is a great example of the 1-2-3-Breakout pattern on Bitcoin using the Daily chart.
This pattern can be applied to any equity. Chart patterns represent human behavior and that is a constant among all asset classes.
Point 1 - The First Test - The New High
Price reaches a new high and pulls back when investors take profits.
Point 2 - Second...
Welcome back to Lesson 6 traders. I have something interesting for y'all in this lesson. This lesson is going to be a series on Breakout Patterns. I will be posting one breakout pattern at a time, so it is easy to understand, and clean enough to follow. The following lessons are going to be posted in lesser time. So in the Lesson 6 series, since there will be...
My rules for trading this simple breakout pattern.
1. At least 5 points of contact within the pattern.
2. A breakout out of the pattern. This creates what I call the "Breakout Point" which is formed at the low wick of the candle.
3. Regardless of what price does after, we must see a breakout past the "Breakout Point." Regardless if we get a retest or not.
-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...
Hope this education helps!
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Let's start right in.
We love channel trading because it is one of the most predictable trades you can make. Many traders will spend hours going through charts trying to find channel formations by drawing horizontal lines on consistent price peaks and price drops. Doing it this...
Supports and resistances are horizontal lines on the edges (borders) of congestion areas. The bottom line is the support: the level where buyers strength overcome sellers, and buys are strong enough to reverse the downtrend. The top line is called the resistance: level where sellers strengh overcome buyers, and sells are strong enough to reverse the uptrend....
The Japanese Yen is above the 20-day ema. the last time it was above it was on January 30.
The money flow is currently downwards so we should watch for further consolidation on the 20D ema.
Those are my levels, lower Purple (0.23 fib) is the old support. The new support is the 20 day-ema and upper purple line is the resistance.
The green levels go from green...
DVLP has recently doubled in price multiple times. Back in Jan DVLP trended up 120%, trading from $.013 cents to $.029. And just over a week ago it Broke-out and ran up 160%, trading from $.019 cents to a high of $.05. It looks ready to potentially do it again.
Been observing this ticker for a few days now, notice on how the trendlines are drawn:
- From higher high to lower high to lower high
- From lower low to higher low to higher low
The two trendlines looks like they are converging to a single point.
This is a consolidation pattern of price action and price is about to break out from the pattern. On a Daily Time...