As the name of the Elder trading system suggests there are three “screens” that we apply to every trade. The three screens used by Alex Elder can be summarized as follows:
First Screen used for establishing a trading bias.
The second Screen applies technical indicators to identify retracements against the trading bias established earlier.
The third Screen is...
By the time you are done with this tutorial, You will understand Structure, Trends, Reversals & much more! This tutorial will teach you how to dig deep into the charts & analyze where price is likely to go next!
Reading Structure can be difficult when you first start trading, however most professional traders (if not all) understand structure very well and it is...
I wrote a series of articles on harmonious patterns. On the coin, which I trade from time to time for about two years, a harmonious ABCD pattern is now formed. I decided to publish the information here on the site. I combined a teaching idea with a trading one. Immediately I showed the options for working on a coin, so as not to spam trading ideas and spend time...
Conditions of a Perfect Hammer:
. Body height must be short.
. The total height of the candle must be taller than the Daily ATR-264. The taller the candle is, the stronger the Hammer is.
. The lower shadow’s length should be very tall. It is better to be over 75 percent of the Daily ATR-264.
. The upper shadow does not exist, or if it does, it is very small. It...
Hammer, The first sign of the beginning Ascending wave:
Hammer shows that the war between buyers and sellers, at the beginning of the day sellers could create significant reduction in price, with their high investments. But when the price had come to the lowest extent of it, many of buyers have entered with more investments than sellers. And again they could...
Hammer Candle Stick Definition
If there was a large drop in price in the middle of the day, but before the day ended it increased to what it was at the beginning of the day and even more, a significant upward return occurred. The candlestick of this change (move) will be a Hammer in a daily time frame. A Hammer formation on the daily time frame is a very strong...
"Countertrend trading" and "We are oversold" these sentences just sound so stupid, I have a hard time believing this is a thing.
Here are a few of my finest comparisons:
"I put a pillow on my face and practice suffocated breathing".
"I compete in sprints with my legs tied together" Huh but why? "Well 2 legs have more power than 1 obviously duh silly" You keep...
Shooting Star Candlestick Pattern Definition:
When the price highly increases during a day, but decreases to what it was at the beginning of the day or even lower, a considerable bearish retracement is occurred.
The candlestick of this price action in the daily time frame is a Shooting Star.
The Shooting Star in the daily time frame is a very strong signal for...
For having successful and steady transactions, Simple detection of market patterns is not enough. But with a deeper look, we should calculate the success possibility of each pattern. One of the determining power Parameters of hammer stick is about Descending or ascending that the body can be. Thus, if the body of hammer is ascending, Possibility of...
Hey, I am back, this time with something, kinda unusual, and I dont know If you like this kind of stuff, but here is some education for you to make a better trading decision in your future!
Okay, so I would like to teach you a bit about MACD and how is this indicator connected to trendlines.
In this chart you can see three flags , each flag can be bullish ...
Weak Hammer (Example):
The chart shows the price of Bitcoin vs. US Dollar. In 02/02/2018, as it says, buyers couldn't raise the price above the day open price, the D1 candle seems a Hammer with bearish body. So the final result wasn't clear and the next day, sellers could pullback the price. (Consider the red thick arrow)
You can use it for different things. my main use for it is to project targets based on impuls legs. not always will an ABCD pattern have the AB=CD 1:1 ratio. CD will often be in a fib ratio to AB like indicated on the chart. using the tool you can find different levels quickly and even set your own custom level values.
You can find it in your drawing toolbar by...
3 Simple Tricks to Recover from a Drawdown like a Pro.
In our private client area, we often talk about the importance of understanding drawdowns.
The first step in dealing with drawdowns is to acquire the right mindset that is conducive to trading.
Do you want to learn how to live through the daily drawdown that is almost inevitable and all traders must go...
We went to 80 no problem this is our second chance to jump on the train. -50%,+23%,+61% is all we have to look for. And here Ive marked all the over sold/bought dates to see if they track one another. If the 2 go with each other you see another bread and butter move. Over sold means buy and over bought means sell.
To find out if price is in bullish or bearish global trend a half year ACD should be applied.
Only half yearly Initial Balance can do this.
If weekly price stays primarily BELOW HALF YEARLY OPENING RANGE (INITIAL BALANCE - IB ) AND in-between IB and lower A-PIVOT = BEAR MARKET
If weekly price stays primarily ABOVE HALF YEARLY OPENING...