The A-B wave should be between 38.2% and 50% Fibonacci X-A wave. The B-C wave should be between 38.2% and 88.6% Fibonacci AB wave. The C-D wave is at the level of 88.6% of the X-A wave or is between 161.8% and 261.8% of the B-C wave.
Note that this is not a trade recommendation but simply illustration of a particular approach. There are multiple reasons that I wouldn't execute this particular idea at this time, but those considerations are for another post. Those of you who have followed my work for the last few months know that I prefer simple. The triple screen chart perspective is...
It’s an unavoidable reality that your forex trading success or failure will largely depend on your mindset. In other words, if your Forex trading psychology is not right, you aren’t going to make any money! Unfortunately, most traders ignore this important fact or are unaware of how critical having the proper mindset is to Forex trading success. If you do not...
Today I want to share with you another price analysis method which was indentified and first described by high level trader from Russia D.B. Krasnov. This method is used to predict price target zone. If you spend enough time training to indentify Spinning point on chart, you will be able to find quite a lot of them and it will help you to improve your trading...
as we can see in the chart, we have an historical support, if it will be break out the price of BTC will continue to down and maybe he will keep going to 20K $
EURO under pressure - Key element to watch Context : Since 2000 EUR/USD is evolving between 0,82 and 1,60 providing two clear floor and cap level following the trend of global macro economy and the strategies deployed in the differents major central banks. The last past weeks following the decision to lower the Quantative Easing, the different actions took in...
Today we had the highest volume hourly bearish candles on BTC for the year, taking the rest of the market with it (except for a few --> ( ) Because this is a zero-sum market, short term traders will no doubt still be buying the dip if not already in shorts. The best short opportunities would have been from tokens that had the highest 24hr price gains, most which...
The National Regulator openly manipulates the exchange rate to the benefit of the economy, undervaluing it when there is a trade deficit, thereby helping exports, and overvaluing it when there is a surplus, so that citizens and businesses can buy more imported goods. The real exchange rate of a nation's currency is determined by its purchasing power abroad. In...
Hello fam , this is an educational post : Classic downtrend structure : We usually have the creation of new lows Valid supply levels Liquidity grabs Sell opportunities at the first Retest Valid Suppyl levels & Orderblocks
Today I am backtesting trades on EURUSD to further improve my strategy and my ability to apply my strategy. It is important to keep your tools, and mind, sharp so that you can execute your trades in a live market that has major market players, news events, volatility, liquidity with experienced traders with high end technology with a high end education trading...
I start off by stating that I do not actively trade in indexes but would like to share my thoughts on SPX similar to what I did with DJIA. The SPX has had an incredible run since March 2020 (2194) to the high of 4808 made at the beginning of the year. What were the reasons for this? 1) Low to no interest policy of the FED 2) Optimism of recovery from Covid and...
I do not trades stocks or indexes at all but technical analysis can be applied to any instrument so this is my view on the DJ Index. The DJI has had an incredible run since March 2020 (18183) to the high of 36855 made at the beginning of the year. What were the reasons for this? 1) Low to no interest policy of the FED 2) Optimism of recovery from Covid and...
‼️ Forex traders use Fibonacci retracements to pinpoint where to place orders for market entry, taking profits and stop-loss orders. Fibonacci levels are commonly used in forex trading to identify and trade off support and resistance levels. After a significant price movement up or down, the new support and resistance levels are often at or near these trend lines...
Forex - the market for exchanging currencies of one country to another Let's analyze the main points in the Forex market on the example of the EURGBP currency pair Currency rates are proportions of currency units of different countries in relation to each other The aims which are pursued by every participant of the market. There are no buyers and sellers...
‼️ What is a Marubozu in forex? A Marubozu is a long or tall Japanese candlestick with no upper or lower shadow (or wick). The candlestick pattern comes in both a bearish (red or black) and a bullish (green or white) form and is easy to spot due to its long body. It basically looks like a vertical rectangle. ‼️ How can you tell if Marubozu is bullish? The...
✅ A cup and handle is a technical chart pattern that resembles a cup and handle where the cup is in the shape of a "u" and the handle has a slight downward drift. A cup and handle is considered a bullish signal extending an uptrend, and it is used to spot opportunities to go long. 🎯 Cup Handle Pattern William O'Neil's Cup with Handle is a bullish continuation...
hree black crows is a phrase used to describe a bearish candlestick pattern that may predict the reversal of an uptrend. Candlestick charts show the day's opening, high, low, and closing prices for a particular security. For stocks moving higher, the candlestick is white or green. 🎯 The three black crows candlestick pattern is considered a relatively reliable...
BINANCE:ALGOUSDT In this post I take a look at some of the patterns I trade and how often they show up. This is a30min chart over the last couple of weeks of ALGORAND. Firstly is a 3 DRIVE into the high. This pattern often occurs at highs or at lows and normally has an ABCD pattern with it. Next we have the 135 pattern which occurs when leaving a high or a...