Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. Today I want to share a basic trading plan that you can follow to quantify your trading edge. 📌 Step 1: First, start from the higher timeframes like Daily/Weekly to identify the current long-term trend. is it bullish, bearish or stuck inside a range? If the price is...
This is to help a follow trader here on #Tradingview @TradingView @blong8797 This is mainly for you. The problem is that Fractals print late and can not be relied on for use in a any automated system. They will literally BLOW YOUR ACCOUNT. Fractals look nice once they are plotted out but they are to be used as PREVIOUS price data and not CURRENT price...
Advantages of Technical Analysis in Financial Markets. Technical analysis is a widely used method of evaluating financial markets by traders, investors, and financial professionals. It is based on the idea that the price and volume of a security can provide valuable insights into the underlying trends and patterns of the market. In this comprehensive guide, we...
In this video I am going through the trades I took last week and how I managed them.
Hello As in the previous ideas that I had published and explained and linked about my strategy, this time I did a sample trade with a very small loss limit. Gold and the dollar index have a long-term opposite relationship, and gold and oil have a delayed correlation. I have colored the gold daily channel with a simple indicator to make it clear on the weekly...
☑️A trader with a plan is someone who has a well-defined trading strategy that outlines their entry and exit points, risk management approach, and overall trading philosophy. ☑️They have a clear understanding of the markets they are trading and make decisions based on objective analysis and research. They are disciplined and stick to their trading plan, even...
Quick tutorial on a strategy I use to identify key levels for day trading. Leave your comments/questions below! Safe trades everyone!
📚The risk-reward ratio (or risk return ratio) measures how much your potential reward (or return) is, for every dollar you risk. 📚For example: If you have a risk-reward ratio of 1:3, it means you’re risking $1 to potentially make $3. If you have a risk-reward ratio of 1:5, it means you’re risking $1 to potentially make $5. You get my point. ⚠️Now, here’s the...
1. People are born traders. While it is true that certain personal characteristics make it easier to trade, no one is born a trader. One of the main themes of the Market Wizards books written by Jack Schwager is that almost none of the market wizards was successful from the start. They all worked hard at it. 2. You have to have a high IQ to trade. Just not true....
In trading, the term "breakout" refers to a price movement that "breaks" past a certain level or range. It's important to note that breakouts can be false, meaning the price could reverse its movement after the breakout. Hence, traders often use confirmation techniques to confirm the validity of a breakout. A breakout is a potential trading opportunity that occurs...
There should be a maximum of 4-6 candlesticks at the base. The less number of candlesticks at the the base the more the strength of the zone and vice versa . other features of a good zone include : -tight candle bases with bodies less than 50% -strong departure , 2nd leg (IMPULSE) with at least 2 ERC candles closing at its high (about 80% of the whole candle...
Hey Everyone, Hope you’re having or.. well had I guess pretty much, depending on where you are located I suppose, a great weekend! So next week, is a pivotal week. You may be wondering why. And that is a good question. Its not because there are any fundamental catalyst. Its not because there are major news releases. Its actually very simple really. Next week,...
1. Introduction: Cryptocurrency is a relatively new concept that has gained a lot of attention in recent years. But what exactly is it, and how did it become so popular? Definition of cryptocurrency: At its most basic, cryptocurrency is a digital or virtual currency that uses cryptography for security. Cryptocurrency is decentralized, meaning it is not...
Consolidations are range bound. The rules for a breakout (impulse) is to retrace it to confirm the exit, and then strike the low signaling the continuation...the beginning of a trend. Notice the red arrow. The impulse exited a range of a trending zone, but the retrace failed and there wasn't a continuation. That is why to wait to strike bullish reversal....
Notice the swing areas, and the volume indicator. Had the indicator been used for "trend strength" it would of sold off. Rather, use the Accumulation/Distribution to identify bullish or bearish swings...if the volume increases or decreases lower in the consolidation zones.
The Three Black Crows or as otherwise known Three Soldiers are a formation of price continuation showing how the bears are taking control over the bulls to reverse the trend as we can see here. Price comes down buyers try to push it back up only to be reversed by sellers overpowering them so it falls back down the buyers try again but realise the bear is the...
Nice quick and easy method for everyone to be able to measure pips for their risk reward ratio and risk management.
OBSERVATIONS :- 1) . As we know Cup with Handle is a Bullish pattern 2) After being in uptrend , stock will some correction near to 50% forming like a cup 3) Then it bounces back to form a cup and then consolidate in range for sometime to form a handle 4) Within the handle it slightly forms a range. 5) You can LONG / BUY the stock if retests , breaks the handle...