The wicks on HA candles are quite pronouced. Never used them before but the information the provide in addition to volume data can be very pronounced which means clearer signals. Look for long wicks at key support and key resistance with accompanying volume. Cant use HA candles in replay mode. More to foloow.
Trying to memorize the names of candles and trying to spot 2 and 3 candle patterns can be difficult and in many ways a waste of time. To make your life easier what I think is more valuable and easier to do is analyze the individual candle and its associated volume. The green horizontal is a previous support. Support, resistance, EMA's and fib are the areas where...
As posted last night in my analysis. We saw an amazing rejection off the 4h zone. Amazing 1:4 risk reward. Key levels are the most important
As posted last night in my analysis. We saw an amazing rejection off the 4h zone. Amazing 1:5 risk reward. Key levels are the most important
When I started trading I was extremely excited about the possibilities that lay before me… The dream of changing your work ethic from “working for your money” to “putting your money to work for you” was intoxicating. I took every class, read every book, followed every “guru” I thought would help me get that ‘edge’, that secret sauce, to make me a great trader....
XAUUSD GOLD SUPPLY AND DEMAND ZONES. Identifying high volume levels is very important. The reason behind this is because in high volume levels there are unfilled orders from the banks which are pending to be activated once price returns to that area. My trading is based off 4h with high level zones.
Low pressure at resistance ; increased pressure at support and the resulting action. Think 2-3 moves ahead. The strength of any uptrend is going to correlate to the amount of buying that took place during the last down move (in general). Buy low/sell high.
BTC can be surreptitious in its volume. The good thing is that when you hav large volume spikes in BTC at your target it tends to play out. Just a simple example of volume increasing as price nears support. Schematic to the right to help. Large wick at the bottom of a candle with low volume means? Large wick at the bottom of a candle with high volume...
UPDATE: GBPJPY ANALYSIS REJECTION. Beautiful trade today with an easy R:R of 1:4. This zone had formed on Wednesday and we had waited for price to return to this area. As you can see it was a really power zone sending the price back up.
Trade closed: stop reached: We had a trailing stop loss which took us out on 136.350 on a still very nice R:R result of 1:4. Satisfactory results.
Yesterday analysis playing out nicely. We have now entered as planned on 137.200 with a 20pip stop loss. The plan is to hold the trade for full 4 days for R:R of 1:8. Please check out my analysis yesterday for this.
XAUUSD GOLD SUPPLY AND DEMAND ZONES - key levels. Trade with the flow. Ride the wave. Easy money on these zones. Watch my previous weeks analysis.
XAUUSD NEW DEMAND ZONE ADDED - We should see a very nice rejection of this zone. Planning entry tomorrow if price enters the area.
Ever since the invention of the Mutual Fund, then IRAs, or even going back to the ownership of individual stocks, the “common man” has been taught to “Buy and Hold” when it comes to their investments. Even today, investors are taught to put their hard earned dollars in a “lock box” and told to "let it grow"... We are told things like “Let time be on your side”…...
GBPJPY SUPPLY AND DEMAND ANALYSIS - High volume, high probability levels. Please see my previous weeks analysis.
How to trade consolidations, ranging markets. Most of the time, markets move sideways. lets find out 3 ways to get advantage of these periods.
The volume creates a "peaks and valleys" effect. The valleys are areas of low pressure and the peaks are high pressure. You can see here how price is drawn toward a path of least resistance (low volume) and the resulting price action depending on wether there is strength in the background or weakness. reference.