2017 brought incredible popularity to cryptocurrencies and the market now contains a lot more people prone to 'fear of missing out' and panic selling. As a result the chances of a currency finding price stability at the end of a consolidation are slim, so as price amplitude gets narrow it tends to drop (or shoot up) and enter yet another consolidation pattern. In...
I would like to show you one of possible variants how to trade trend reversals. I use SMA100 as the signal line confirming bullish or bearish trends. If the price drops below SMA100, for me, it's a trend reversal signal and time for searching sell opportunities. If the price moves above SMA100, a new uptrend begins and I search for buy opportunities. In this...
In the world of cryptocurrencies it is so difficult to know when to buy. Instead of trying to 'time the market', just draw some trendlines or use an automated tool (the one I use is: Auto-Trendline from Patternsmart ). Make your purchase once price breaks above the trendline. In this case, looking at Ethereum on the daily chart, you could have picked some up...
As a currency trader, it is important to be able to flip your bias on a market as soon as possible provided you have objective technical evidence to support this flip. Too often, traders are influenced by a third party’s opinion about a long term trade bias that may be generated from fundamental analysis which is highly subjective. They tend to hold this bias for...
PFF formed a downtrend parallel channel. A downtrend parallel channel (bearish channel) is a continuation pattern that slopes down and is bound by an upper and lower trend line. The upper downtrend line it is called main line and marks resistance and the lower downtrend line it is called channel line and marks support. For a bearish channel, the main line extends...
The odds are lining up against the bulls. They may see a holiday cheer with a kiss of 2600 if lucky. However, the pullback from 2597 is incomplete and Bears are preparing for their feast. Continuing last week's issue the pullback is underway for an eventual total of 2-3% from the 2597 peak. Elliott wave count, a Fibonacci level of 1 from the the 2/2016 low, a...
This downtrend line on BAC, represents a resistance where traders can take advantage of selling opportunities in rebounds. It is recommended confirm the downtrend line. It could be after a third rebound, then, you can sell in any rebound and hold the position before the downtrend line get broken. When the downtrend get broken you must buy.
Time for a pause of the upward trend while the Bears to welcome cooler times. Their romp will be brief, but I expect their volume to be loud. A pullback of 2-3% has been long anticipated and is finally here. For the Bulls it provides a breather before the next advance. A much larger tussle is ahead in Dec/Jan. For now, there is something for everyone.
Intersection is when price is on 2 or more signal/set up that points out to the same direction. In this example: 1. Price broke the trend line resistance and retested it as a trend line support. (Buy signal) 2. Price is at horizontal support (Buy signal)
there are some examples for trend, BUT picture D is game changer TREND ends there remember: 1. last 2 peaks or last 2 valleys connect and make TREND line 2. if you dont know , dont plan trade there
Hello guys, GU got its support on the green line . This was a resistance line now become a support line. But a red ascending trend line broke at the beginning of Aug which is a bear sign too . On such chart, a retest of the trend line is possible. after that the green line could be test one more time too. Less is more!
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Observe the chart for a moment, and you will see the support trendline. Now, price on the 4h candles has broken below this support trendline, but has never closed below it. After the first three points on the trendline, illustrated by the first 3 circles, the trendline was established as valid. (It generally is considered that 3 points are necessary for a...
Sell GBPJPY (educational) "kalbotical retracement confluence 1" 1. Up Trend line broken 2. down Trend line formed 3. second leg has a strongest momentum so possible third leg for some kind of 1-2-3-4-5 structure ) You can catch momentu e.g with Squeeze Momentum Indicator 4. Look left for S/R zone 5 perfect Fib level - .618 6. Kalbot RSI ...
Hi traders, here at Unique4xPro we are firm believers that price action trading is the way to go in these markets and for that reason we do not use any indicators. We base our trades solely on price action and we only trade in the direction of the overall trend to ensure that all of our trades are backed by the banks and institutions that are backing the direction...
Hello, i posted before a chart about this trading system, you can check it on related ideas below. Here is another good example real-time on AUDUSD. I wanted to repeat the process and share some tips based on my own experience. 1) We found a clear downtrend (series of HH,HL) 2) The downtrend is broken and a Higher High is formed (convergence) 3) We confirm the...
*Correction: It's a LH not LL on the weekly chart This is an attempt to demonstrate one way I use to approach the market and find potenital trades. Starting from the higher time-frame - Weekly Chart identinfied highs and lows to clearly identify the trend(Bearish) Drawn the main falling trend line, and the fibonacci retracement levels. The latest upside...