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Candlestick Analysis

Trade Recap: USDJPY - LONG, 09/10/2024UJ Bias Analysis: Price had begun distributing higher on the 4H & 1H TF's following a pullback into the 4H, 1-sided Fair Value Gap, so Resistance entries were in consideration given we were pulling back higher into premium on the 1D TF. I opted for the conservative entry after a 15M TBL sweep into a 15M Breaker Block once entry confirmation was received. Grade: High Quality Valid What I did well or could've done better: - I Forecasted multiple possible entry points and opted for a conservative but riskier entry from a shallow protraction point which ended up being where price distributed from.
Long
by The_Modern_Day_Trader
Nasdaq (NQZ2024) - Conditions You Want To AvoidFor the swing traders out there with patience to wait before entering, i salute you! Market conditions are torturous at the moment making it challenging to dictate where the next daily draw on liquidity will be. Only those who scalp and utilise the 15,5,1 min timeframes will be able to get a better understanding for what the market is doing and what signatures are being left. With the dollar index printing risk off conditions, is it normal for Nasdaq to still be trading at a premium? Is there a lag? For how long? What will break first: NQ, ES or YM? These are some of the questions I ask myself when faced with conditions like this. I want to see short term, relative equal lows swept @ $19,818
CME_MINI:NQZ2024Short
by LegendSince
Dollar Index - Finally, A Take-Off!If you have watched my previous analysis on the Dollar Index, you will know that the area of 101.994 was a target for weeks but we kept on seeing relative equal highs created. This incentivised smart money to hold proce below in a discount in order to pile in more sell stops as classic retail minded traders would think that because LL and LH's are being formed, their stop will be safe at the next recent highs as the 'trend is your friend' I capitalise of this mantra What we saw was a low resistance liquidity run above daily buy stops, trading back into a macro premium. The question is, will price hold in a premium above 101.994? Price bullish above 101.994 = risk off conditions which equals a higher probability for traders to capitalise on a short-term/medium-term/long-term bearish trend in FX, stock index, precious metals, crypto etc.. Price bearish below 101.994 = risk on scenarios which equals to a higher probability for traders to capitalise on a short-term/medium-term/long-term bullish trend FX, stock index, precious metals and crypto.
TVC:DXYLong
by LegendSince
Weekly Forecast & GBPJPY SHORT Trade RecapBias Analysis: Daily is in premium on the minor swing and at equilibrium on the major swing but with the 4H structure still bullish (CT) there is upside potential on this pair. Long entries were within the 1H bullish range and after a correction into EPD at NY open, entry confirmation was received after trade parameters were met. Grade: High Quality Valid What I did well or could've done better - Used pair correlation to increase discretion during entry confirmation Stayed focus during my NY Killzone despite being on the road which avoided a missed position on GJ. DXY: Structure is bullish on DXY from the HTF down to the LTF's but with price in a 1D OB, we could see the reversal from this KI area. The development of price over the initial days of the week will signal how the weekly will distribute. Today, price is within a bullish 1H range with protraction lower at KZ open.
Long
by The_Modern_Day_Trader
Top 3 Must-Know Candlestick Patterns for BeginnersGet your cup of coffee or tea ready we are doing a crash course on Candlesticks today I’m walking you through three candlestick patterns every beginner trader should know—Doji, Engulfing Candles, and Hammers (including the Inverted Hammer). These patterns are super helpful when you’re trying to spot market reversals or continuations. I’ll show you how to easily recognize them and use them in your own trades. Let’s keep it simple and effective. Key Takeaways: Doji: Indicates indecision, potential reversals. Engulfing Candles: Bullish or bearish reversal signals. Hammer & Inverted Hammer: Bullish reversal after a downtrend. Trade what you see and let’s get started! Mindbloome Trader
Education
by Mindbloome-Trading
4
EURUSD - When the 2618 Technique Comes Into PlayAfter a wild reaction to end the week, it's time to reevaluate the markets for the week ahead & plan our attack. After violating a previous level of structure to the downside, the EURUSD has ran right back into another level of major structure support & has held. We've already seen a double bottom form at this level so it's a little late to enter based off that classic price pattern. But don't worry I've got an alternative option for you called the "2618 Technique." If you have any questions or comments about the setup (or anything else trading related) please let me know. And I wish you guys the best of luck in this upcoming trading week! Akil
Long
by Akil_Stokes
When to expect a trend or when to expect a range sessionWhat I look for on the open to help define whether I expect a range based open or session...or a trend based trading session. By using an Anchor chart and a trading chart, I am able to define the price action with regards to momentum and price direction. From there, it is then a process of waiting for the setups to develop. ANY QUESTIONS, JUST LEAVE IN THE COMMENTS !! ** If you like the content then take a look at the profile to get more ideas and learning material ** ** Any Comments and likes are greatly appreciated **
CBOT_MINI:YM1!
by TradeTheStructure
Pre-NFP Analysis - Technicals Align For A Bearish DollarAfter an aggressive appreciation of the dollar, we see the DXY trading within the 1D 1-sided FVG and now within the 1D range EPD. While I'm positioning myself for a sell off, I'd be wear of further appreciation as a result of NFP volatility before the real move takes shape over the course of the month. While I'm observing multiple scenario's on most pairs, my primary biases are as follows: EURUSD - SHORT GBPJPY - SHORT USDJPY - SHORT AUDUSD - SHORT (Wildcard)
Short
by The_Modern_Day_Trader