Al Pacino played John Milton in the 1997 film the Devil’s Advocate. Milton ran a hugely successful law firm as a front. The fictional character was really the devil. The final line of the movie is, “Vanity is definitely my favorite sin.” Vanity is excessive pride in or admiration of one’s own abilities, appearance, or achievements. There is a fine line between...
Forex is not about making pips, but managing your pips per trade. There are many different areas in which you can take profit. Advise you back test to see what works best for you and your trading style. You must also take into consideration if you are trading with the trend or against the trend. When looking at trade targets look left at what barriers price may...
Wait For Price To Break Trend Line. Wait For Price To Close Below Trend Line. Watch For A Price Action Signal To Form On The Retest. Watch For A Rejection Candlestick or a Pin Bar. In the example below, the candlestick wick protrudes through EMA 10, EMA 20, Trend Line, and 50% Fibonacci Retracement Level. Enter at the close price of rejection candlestick....
The confluence is: 1) Gap at 267.76 2) Trend Line 3) EMA 10 4) EMA 20 5) Pin Bar Entry is at the closing price of the candlestick in the form of a Pin Bar. Pin Bar formed at EMA 10, EMA 20, Trend Line, and Gap.
What Is the Wedge Pattern and Its Common Characteristics? 1. Wedge patterns have converging trend lines that come to an apex with a distinguishable upside or downside slant. a. Wedge with an upside slant is called a rising wedge b. Wedge with downside slant is called falling wedge 2. It has declining volumes as the pattern progresses. 3. It breaks out...
I generally like trend lines because of the basic information that they convey - a trend. A trendline going up and to the right suggests the trend is upward! A trend line going down and to the left suggests the trend is downward! You don't need to overthink it. BUT you also have to remember that if you chose to trade a trendline you need to be willing to sit on...
It's extremely important to look at price action where you are looking to place your trendline. What I like to first start off is with looking at the areas where we have seen either gap up or gap downs. Starting at the most significant relative area to my analysis, I will continue that line, scoping out other gap areas if within reason. Some are very obvious....
This indicator always works best on higher time frame charts because on the lower time frames it becomes too noisy and not consistent. Suggest not using below the 1H chart. 4H chart or higher is always best. Sometimes it's always easier to see a real life example rather than a drawn out one or simulated one.
This video explains how easy it is to trades ? Don't make this complicated ,trading is simple
Support and Resistance The price action trader pays particular attention to pivotal price levels, often “drawing” these lines horizontally as Support and Resistance levels. The theory behind employing these lines is that the market has a sort of memory: price behaves with respect to certain levels that have previously been significant turning points in the...
A failed break (false breakout) occurs when a price moves through an identified level of support or resistance but does not have enough momentum to maintain its direction. Failed breaks may also signal traders to enter a trade in the opposite direction of the attempted breakout. Since the breakout attempt failed, the price could head the other direction. A ...
In this video I explain how I find my trend and how I will trade it .
I've been back testing this method and using it on multiple Timeframes. it's quite simple Price Action. I use this hits ass a guide for strength of the trend, and to spot the reversal area ( Strong Support and Strong Resistant) However, I do not use this method alone but also have other confluence. Mostly, when price is at this area, I will look for entry at...
1. Trendlines are not effective with the H1 timeframe. Use them only with H4 and D1 timeframes, 2. When you see the THIRD TOUCH, TAKE that trade and cash some sure money. This trade I took today moved 50+ pip in under one hour.
Educational Video: Quick and easy trick you can apply starting NOW to be ready for those big moves when they happen
Example of Bullish Divergence : Price is sideway but RSI making higher high. Bullish Divergence spotted. This is for Education purpose. Not a BUY/SELL call.
Yesterday I put my main setup on the Activision Blizzard with SMA 20,50,100,200; Horizontal Ray and the trendlines. Many would see that in the past the price often had support at the range of 89-90 Dollar and would think that the share price would jump again including with the SMA200 support. But with implementing the Trendline-Function by connecting dots of...
Hi traders Ever woundered - "can i beat the market ?" or "what is my Edge ?" try the 70 Ema !! i will use daily chart and look for clear trend direction apply indicator called Moving Avarage Exponential and set it to 70 -- UPTREND -- on an uptrend look if the line support the price. you will want to go long when price reach the blue line. on the other hand,...