Get started

Learningtrading

NZDUSD LongI looked at this setup last night and set an alert. After the Sto RSI bottomed out on the 1H and the price tested the bottom zone I opened a 1:3 RR at 0.67599 with TP at 0.68299 and Stop Loss at 0.67327. I'm trading on a very small account or I would place a partial TP at 0.67936. I'll be watching and move the Stop Loss up to a zero risk trade once it clears 0.67936. I would be surprised yet admit my fault if it falls lower from here. As always, I'm still learning and welcome any and all constructive criticism or advice. If anyone knows any good resources for studying pitchforks I am open to suggestions. Thank you.
Long
by UnknownUnicorn2349278
CADJPY Pitchfork with SpacemanBTC Key LevelsI've been playing around with different indicators but trying to keep it simple. I really like the SpacemanBTC Key Levels. I think CADJPY was trying to break bearish out of the pitchfork but caught resistance from the monthly high and monthly open. The 4H and Daily MACD and Sto RSI may be moving to flip bearish. I wouldn't trade at this point because I don't have 3 or more indicators for a setup. If the MACD starts flipping bullish, Sto RSI falls below 20%, and price recovers and retests the 2nd deviation on the pitchfork I will consider a long with a TP near the center line of the pitchfork.
by UnknownUnicorn2349278
USDCAD Testing zone FX:USDCAD The MACD on the 4H indicates USDCAD is starting to lose bullish momentum but the Daily shows it is losing bearish momentum. Sto RSI is between 80 and 20 on the 4H but trying to cross into a bullish reversal below 20 on the Daily. Since it has rejected the bottom of the zone I marked for the last four days while below the first deviation band of the pitchfork, USDCAD is likely to turn bullish. My buy signal will be when it clears 1.25621 as it returns to the center line of the pitchfork. The other scenario is if it falls below the zone, in which case I will reassess if it rejects the bottom of the pitchfork and returns to center line or continues down to the bottom zone I marked. *My friend challenged me to post one chart a day this year to build confidence and my skill set. I am still learning so I wouldn't trade off of any of these ideas. If you have any constructive criticism or advice I would be grateful to hear it.
by UnknownUnicorn2349278
GBPJPY Another PitchforkI like these clean pitchforks. If it reverts to the centerline I will enter a long if the volume looks good. I did have to search around for the first point to place on this Andrews Pitchfork. I think the false pivot I labeled doesn't work at the first point or any point in the pitchfork because it's just sort of a blip on the trend and not a true reversal. I'd love to hear other people's opinions on this though. I would also love to hear some reading recommendations for Andrews and Schiff Pitchforks.
by UnknownUnicorn2349278
2
SHIBUSDT Support Levels #SHIBI do not hold any Shiba and have no plans to buy any. I just wanted to draw what I think are support lines and a significant zone. I think the ATH and price action immediately after was mostly a result of positive social media sentiment and retail chasing the meme coin aspect so it's a lot less significant for a long term support/resistance zone. The lines I drew are where I believe it started settling back into more reliable levels. My personal opinion is Shiba will likely have another pump if the rest of the market turns bullish. I'm just not really big on any of the meme coins so take everything I say about them with a big grain of salt. *My friend challenged me to post one chart a day this year to build confidence and my skill set. I am still learning so I wouldn't trade off of any of these ideas. If you have any constructive criticism or advice I would be grateful to hear it.
by UnknownUnicorn2349278
6
Vechain #VET. Multi-Month Schiff PitchforkBINANCE:VETUSD After several months of the descending pitchfork, VET broke out and the pitchfork became resistance as seen in early December. I've been holding VET since 2018 and I'm not actively trading it. I will buy more when it follows the resistance line into Zone 2 with a take profit in Zone 1. I will consider this idea invalidated if it breaks below Zone 2 and continues down the multi-month pitchfork as resistance. I'm not a pro and nobody should trade off of my ideas. Just verbalizing it for commentary and criticism to learn. If it breaks above Zone 1, 1) I will be happy for my long-term bags, 2) Will revisit this chart.
BINANCE:VETUSD
by UnknownUnicorn2349278
2
Bitcoin. A multi-month correction? #BTCI've been hesitant to try TA on Bitcoin. With the institutional interest growing over the last year I haven't made very many good calls, so this idea is entirely for entertainment purposes. I hope it generates some comments and conversation more than anything. I put a horizontal ray near $41000 after it switched from resistance to support in early January, mid-June, and again in late September. I'm still learning the vast complexities of Elliot Wave Theory but at first glance this is what I think is going on.
COINBASE:BTCUSD
by UnknownUnicorn2349278
1
Beginner's Charting Attempt 1: COSTFirst: Any constructive criticism is very much appreciated and helpful! :) So here I am, an absolute beginner with a couple crayons of knowledge: I just drew in what I observed to be wedges. The first a rising bullish wedge that continued to a bullish trend. That wedge was followed by a falling bearish(?) wedge. I thought a continuation pattern (bearish) was more likely than a reversal (bullish) because of resistance (COST had previously hit that high before and didn't break through). I might've used some of the terminology wrong, honestly. But I'm just trying to journal out my thought process to be able to communicate and work through my own ideas and opinions.
NASDAQ:COSTShort
by bexlua
CADJPY(UPDATE)After being stopped out in the previous trade, I've taken another short on CadJpy 4H time frame. There is a slight divergence and a 1H OB on the left, probably this is to grab liquidity as to why my previous trade was a lost.There is an reaction on the 1H OB, its as to why i've taken this trade. Any kind of strategy still face losses, include SMC, nothing has a win rate of 100%, we face lost all the time. For those who are taking trades on CADJPY, please risk on your own risk management, I'm just showing my analysis and I'm not a financial expert advisor.
Short
by Student_of_Forex