Order blocks are price zones on a chart where large market participants, like institutional traders, have amassed significant buy or sell orders.
Identify bearish order block as mentioned in previous post. Go to lower time frame to check consolidation phase and mark its support level. Check point where price went below support level and comeback to retest. Enter short trade once it breaks below again. so now we have 4 confluences for short entry. 1. 4 Hour's Bearish OB 2. Price Consolidation at...
Explaning the Bearish Order Block A bearish order block is a price area on a chart that indicates a potential sell opportunity because it suggests a shift in market sentiment from bullish to bearish. It's essentially a zone where a large number of sell orders were placed, creating a temporary imbalance between supply and demand.
DAY TRADING WHILE HOLDING A 9-5 JOB Embarking on the exciting journey of day trading while managing the demands of a full-time job is indeed a challenging yet achievable endeavor. Thanks to the rise of user-friendly mobile applications offered by trading platforms, individuals now have the power to execute trades seamlessly from various locations. This creates...
On January 22, 2020, the rising cycle on the S&P ended and the declining cycle began. Apart from this one tool, there was no indication that we were about to experience historic declines and the biggest panic in the markets so far. On March 6, 2020, the correction ended and the oil market entered a downward cycle. Only one group of traders was not surprised...
Here's an analysis of various candlestick patterns commonly used in technical analysis of financial markets: Dragonfly Doji: This candlestick has a small body with a long lower shadow and no upper shadow, indicating significant price exploration lower but closing near the opening price. It is often interpreted as a signal of a potential bullish reversal. Morning...
Challenge: Inner Strength - Uncertainty. Uncertainty is also a weakness that must be eliminated. It is the negation of "inner strength." An investor or trader who is uncertain about himself, his skills or his system is an investor who suffers systematic losses. Remember, however, that both overconfidence and overconfidence lead to losses. Mature traders are in...
A day ago, I released the " Leveraged Share Decay " indicator for those who trade or invest in leveraged shares. What the indicator does is it tracks the consistency of returns and the rate of decay of a leveraged share against its benchmark. Leveraged shares tend to be seen as "risky" and grouped into the "option-esque" category of trading. From my experience...
Forex trading, also known as foreign exchange trading, buys and sells currencies to make a profit. It is the largest and most liquid financial market globally, with trillions of dollars traded daily. The forex market operates 24 hours a day, five days a week, allowing traders worldwide to participate. The Importance of Patience 🕰️ Patience is a fundamental...
Today we continue our deep dive into support and resistance levels and explore how traders can effectively utilize Renko charts and Donchian channels to identify these price zones. Renko charts, known for their simplicity and ability to filter out market noise, provide a unique perspective on price movement. We'll discuss how Renko charts work and demonstrate...
Welcome to "Thinking in Pine" short video series on the topics of Pine Script. Today's discussion point is debugging and tools that Pine script provide us to debug our programs. 🎲 Points Discussed Debugging using `plot` for numerical series values. Using Pine Logs to debug for cases where `plot` is not suitable 🎯 Example Program - Debugging using...
"This strategy incorporates an Elliott Wave base, but I've simplified it. Typically, it forms at the end of an upward or downward movement. When you connect the lows and highs and observe the expanding WEDGE pattern: wait for the candle to close above the upper SIDE. If it retraces below, specifically closing below the upper SIDE, it's a signal to sell. The...
We are at the beginning of a huge crypto bull run when it is possible to make millions of dollars with strong altcoins. So how is it possible to know if an altcoin strong or it is weak? Look at the community around the altcoin you want to profit with. I prefer to count the traffic which comes to its official website first. Is the traffic rising or it is...
YOUR QUESTION ANSWERED! What on earth are Fake outs, Shake outs and Whipsaws? After this you will know… Fake-out: (When the price makes a false breakout of a chart pattern) A fake-out occurs when the price of a market appears to break out of a certain chart pattern. This could be a trendline, support, or resistance level. But then quickly reverses and...
In the complex world of forex trading, a myriad of factors contribute to the ever-shifting landscape of exchange rates. Among these, geopolitical risks stand out as potent catalysts capable of triggering significant fluctuations in currency values. This article delves into the intricate relationship between geopolitical events and forex markets, exploring how...
Introduction to E-mini S&P Futures E-mini S&P Futures stand as a testament to the intricate dynamics of financial markets, capturing the essence of broader economic trends and investor sentiment. As we navigate through 2024, these futures face a situation reminiscent of the prelude to the 2008 global financial crisis. This article embarks on a journey to analyze...
Price eventually comes back to an older price. Similar to a return to mean strategy. Today: Try to find where the price actually rebounds. Small PineScript doubts are welcome.
Price eventually comes back to an older price. Similar to a return to mean strategy. Today: Quick test about removing second condition not related to trailering. Small PineScript doubts are welcome.