DISCLAIMER - Your money is not in danger but guaranteed to disappear if you follow my trades. These ideas and trades are mostly for my personal use as a journal, but I try to provide as much value as possible to the community
Cypher patterns supposedly have 80% completion ratio. This one failed
X - recent bottom
A - recent top
B - must touch 0.382 fib...
Hello dear friends,
this is more of a study than a chart.
Here is what i did:
* I sampled 16 IHS that showed over the past year and were visible on the 4hr chart.
* I took in consideration sloppy patterns but ignored the ones that didn't complete or patterns that were too small or too big to discern on the 4hr.
* targets are calculated roughly based on the...
Review to see how trade plays out:
Bullish:
- Kumo Edge to Edge
- Previous TK crossover however not as strong as it was below the cloud.
- Kumo cloud is flat...price tends to be attracted to this.
Bearish
- Future kumo cloud is bullish
- Potential double top formation
- Similar pattern back in July when it did drop down before further gains
- Low volume
Buy:...
Is buy & hold a strategy for penny stocks?
Some says yes, some says no. The answer really depends how skillful the investors are.
In this penny stock example, buy and hold is definitely a poor choice.
A 30% gain in 171 days VS a 255% gain in 80 days.
I pointed out many alert positions. Please move your cursor to the blue spots.
These alerts tell you to think...
My CURRENT definition of RISK.
RISK ON
USD down, moving XXX/USD currencies up and USD/XXX currencies down.
or
RISK OFF
USD up, moving XXX/USD currencies down and USD/XXX currencies up.
Mid term (3 wks-6mo) I lean bias towards 2018 trading in RISK ON mode. Which means
EURUSD is a buy mid-term.
USDCAD is a sell mid-term.
In the last several months we have...
price has been in bearish run making lower highs, and lower lows in form of pullbacks. seeing price now making a retracement can give us an opportunity to short this market once identifying a trend continuation off our fibonnacci levels and take profit at the lows where buying demand is identified, leaving stop loss right above previous structure high and manage...
Fib extensions.
Draw a high from the previous high to the bottom of it's real correction (4h retraces to the 20MA, in BTCUSD's case, work.)
Now, extend to the current peak.
Is it failing to retest the 0.236? Get out, prepare a to buy at the 0.618 if it holds.
0.618 holds? buy but prepare to sell at 0.382.
0.618 fails? try at 1.0
Buy at 1.0 but prepare to...
Price dropped to 50% fib retracement then reversed long. First Entry would have been after 1 candle pullback @ 8010.00. Original buy stop was 8110.00. First take profit would be swing high. Price hit swing high and broke above it. Nice to watch and learn how this pair reacts to fast drops in price.
The odds are lining up against the bulls. They may see a holiday cheer with a kiss of 2600 if lucky. However, the pullback from 2597 is incomplete and Bears are preparing for their feast. Continuing last week's issue the pullback is underway for an eventual total of 2-3% from the 2597 peak.
Elliott wave count, a Fibonacci level of 1 from the the 2/2016 low, a...
Time for a pause of the upward trend while the Bears to welcome cooler times. Their romp will be brief, but I expect their volume to be loud. A pullback of 2-3% has been long anticipated and is finally here. For the Bulls it provides a breather before the next advance. A much larger tussle is ahead in Dec/Jan. For now, there is something for everyone.
Hello there, everyday i look in the chat and i see people making trades based on fomo, chasing price and news and i wanted to bring to life a few steps that i have in place before making a trade. I hope this is helpful! best of luck!
PRO-GAP Tutorial
Today is Monday and GBPAUD formed a PRO-GAP
Definition of pro gap is:
the gaps' direction is the opposite of the last candle's direction.
We can see Last Friday's closing price was 1.6793
and this morning's opening price was 1.6849
which means all the sellers who sold in the last candle were trapped.
Therefore a good trading plan was...
Thanks to Fibonacci we have many tools helping with everyday analysis. Fibonacci channel is one of them. It is a simple tool which can cover whole swing and when used properly can find a lot of possible places for PA to bounce and create small intraday swings. Educate, practice and trade with Fibonacci cause this math algo is everywhere. In single atom, in plants,...
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...
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. :)
This is my trading plan. You can look through my published ideas to look at other examples.
I need 3 reasons to enter a trade.
1. A clear direction. I use 3 emas 50, 100, and 200 as shown in the chart.(Required)
2. A horizontal support/resistance area. (Required)
3. Price retrace to one of the emas to act as resistance. (preferably than fib)
4. Fib continuation...
This news strategy lets the wind die down from the price reaction of the news. You have time to place your fib on the news candle and watch the retracement develop. Price has had time to pick a direction from the markets reaction to the news. Sometimes to catch the best price for the retracement you will be using a 1m or 5m chart. SL is easy to see and place. TP...
