Weekly chart shows price nearing the apex of the ascending wedge with a target of $45. RSI is hitting resistance and MACD's histogram is possibly printing hidden bearish divergence. H4 chart shows RSI, and possibly MACD, printing bearish divergence. The nearby demand has already been tapped once making it much easier for the next drop into it to potentially fall...
In the chart above, we have a bullish pin bar that formed on the USDJPY weekly chart. .This pin bar formed at a previous resistance level, which is now acting as support. This price action signal tells us that the market is likely to see higher ground in the weeks ahead. "BUT" instead of trading the weekly time frame, we can move to the daily chart and watch...
NATGAS Descending channel on a weekly chart. The pattern is valid for the period of almost 10 years. Always start your analysis on a weekly chart. Once you identify the pattern on a weekly chart, you can rely on it for a long time in the future. Remember: The stronger the trend is, the harder it changes its direction. Cheers!
Hey guys, after a time of inactivity I"m back. Today I show you how you can trade EUR/USD with the help of correlations. You can see in the chart positive correlations and negative correlations. Be careful the arrows on the chart are no trend direction. If for example Oil change its direction the trend direction is turned. But be careful with long...
Understanding trends within a pattern gives analysts the ability to better understand sentiment and directional pressure. In this example, pattern extremities were highlighted. Then, on a lower timeframe, trends within said pattern drawn. Overlaying timeframes is a necessary part of a complete analysis, and a complete commodity analysis can help piece together...
Pictured above is a graph of Royal Dutch Shell vs brent crude, the correlation coefficient between them, and the commodity channel index tracking the volume weighted moving average of Shell. I tested this indicator on a few energy stocks: RDS, MRO, BP and XOM. Negative correlation between brent crude and an energy stock coupled with an overbought CCI seems to...
SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Below are 3 essential trading routines that i follow on a daily basis. This has been a critical component to my success. Morning Routine 1. Meditation (10 Mins) 2. Gratitude 3. Trading Affirmations (2 Mins) • I am a successful trader • I have a very strict risk management plan • I use a trading journal • I am...
Everything is linked to the price of oil. Our food, our phones, our computers, our clean water, our electricity, everything we use each day is dependant on oil. If oil prices were to pump due to a new peak (which is inevitable), the price of everything will climb. As a result, it will reach a point where we can't afford to consume the same amount of things,...
When we look at correlations in charting, we sometimes see certain #FX pairs are correlated to a #commodity or #index, in this instance I am giving you an example of #EURNOK vs #UKOIL #BRENT. These charts can help you make distinctions in the trend of the commodity, so when we see a #bullish EURNOK, you want to be looking a trades that are bearish Brent/UKOil,...
SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Technical Analysis 101!! Interpreting the candlestick This type of chart is an extension of the bar chart as discussed and is actively utilised by the investors in China for more than 500 years of time period. It helps in providing the information regarding open, close, low and high in the dimensional format. It can...
SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Creating your own Trading Strategy!! Below is a quick run down of things to think about when creating your own trading strategy 1. How much time during the day do you have to devote to trading? .................................................................................. 2. How much money do you need to live on...
SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Elements of a Successful Trading Plan 102 2. Risk Level Managing a risk in trading is essential if a person wishes to make profitable investments. As a trader, one cannot control the market but he/ she do have the capacity to change what can be done as circumstances require. They need to adapt the changes as the...
A 3 day chart is very useful in terms of being able to see a major trend reversal. It eliminates the noise of daily or lower timeframe charts and shows the change in trend faster than the higher timeframes such as the weekly and monthly. Keep track of the candles and look for a higher high and higher low candle for the first signal. The USOIL chart above shows a...
This is a 9 minute video that covers how to ensure you are trading on the right side of the trend. Lots of good stuff on this topic, unfortunately it's impossible to cover everything in the 10 minute limit provided by TradingView for videos, so if you have any questions please feel free to get in touch.
SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Financial Market Introduction 101 a) Market participants Market Participants include those parties that are involved in the operations of investment companies. Their control in the market is necessary and they should be well aware of the changes in the market. 1. Brokers and dealers handle trade activities between the...
All data about CME futures is available on their site. Same with ICE, same with the euro indices future exchange(s). For the rest I hunted around the internet and tried finding several sources that said the same and made sure it made sense. ***** Currencies ****** All the forex pairs: I do not really know, but the volume is huge don't worry. EURUSD alone is...
RV Simplified: I get this question all the time, and even though the concept is simple, many people have a hard time getting their heads around it. Here is snapshot of above at time of publish. Sept 19, 2018, 7:30am ET. As the above LIVE chart will not last more than a day.. accurately. ——————- Q- When DXY falls, WTI follows right? A- No.. they fall and...
Been long since I touched this, just compiling articles from the net to make sense of whats going on in the Oil market. Feel free give your own opinions. Venezuela Crisis, Iran sanctions, rising demands, tightening supplies, these factors have drive up Oil prices to their highest level in over three years in May. To address potential supply shortfalls, Saudi...