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Profitabletrading

Bitcoin going to make some correction or will make new highs XOHello Everyone, We have seen a lot of activity of Bitcoin because it was deemed as real money by DC laws so masses purchased bitcoin and are now holding because it is digital gold (named) so my analysis is Bitcoin is in my top resistance and support area. The major resistance is at 11391 area and major support is at 9600 area but there are many internal supports that bitcoin needs to cross if it is planning to go to that area. A correction is a must after this massive pump according to supply and demand we have seen a lot of demand this week so there must be a correction. Each time when previous resistance has been tested uptrend is in a critical phase, failure to cross the previous peak or unable to bounce the near support usually means that the existing trend is changing. Now bitcoin has made a new high that is 11394 if it fails to cross that resistance then surely it will retrace the path, nearest support is at 10832 which has tried to cross 3-4 times but failed to cross it thus giving us a good support area. An individual can take a long order whenever the price retests that support if the candle on 1 hour succeeds crossing that resistance, do not go for long order if the candle is unable to cross that support and makes a wig that exactly touches or is near support wait for the next candle if next candle crosses the previous candle high I would go long there with a stop loss that will be 3% down from support. Please do examine MACD and RSI before going for long I suggest this for every order MACD and RSI plays an important role in telling us about demand and supply so that can be of great help. --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Ichimoku Components - Kijun - REDLINE Tenken - BLUELINE Senkou A - Upper Border of cloud when the trend is bullish and Lower border of cloud when the trend is bearish Senkou B - Upper Border of cloud when the trend is bearish and Lower border of cloud when the trend is bullish Chikou - The green color shadow of price moving 26 period back ..................................................................................................................................................................................................................... Ichimoku also gives a great idea that is the price is still bullish there are many signs of that like Kijun and Tenken crossover that happened few hours ago and still in motion, they are parallel that means the price is consolidation but major signs are still bullish. Another sign I want to talk about is the price is still above Kijun which means bullish until and unless it crosse the Kijun and closes below as well as the Kumo cloud, Price is above Kumo cloud which means the price is bullish and has 4 supports to cross which are TENKEN, KIJUN, SENKOU A and SENKOU B. Crossover of Senkou A and Senkou B is a little bit troubling me because Senkou B is above Senkou A which indicates us of a bearish sign but still bullish signs are a lot more than bearish signs so we can say that price is in the uptrend. Chikou line has also crossed the previous price line so that also means that trend is bullish. If you have any thoughts regarding this idea or if I am wrong at any point, do tell me in comments :)
by TheTradingo
1
How to Capture more Profit through Trend Line AnglesTheory: When I'm trading trending markets above the 4hr and daily timeframes, I often use trend angles to understand the rate of change as the market gets faster and steeper. Today I'm going to use Gold as an example. I have been trading this asset for a while as it has been trending well on a casual upward slope of approx 14 degrees. Around July 20, the angle changed to 30 degrees... This is twice as steep, indicating stronger momentum. Around the July 23, again the angle increased and this time to 52 degrees - almost double again. On July 27 (today at time of publishing) the angle changed again to 76 degrees. Using the trend angle tool, I can see the rate of change and how steep the trade has become. Trading Tactics: Each time the angle changes, I draw a new trend line and add an alert to the most recent inner trend line. This is now my priority. As the trade develops, I can review the progress. If the most recent inner trend is broken, that's the first red flag for me. I can choose to sell a few contracts/shares/units and begin to scale out. At the break of the most recent support directly below the inner trend line, I will scale out even further. If a second trend line or a major channel is broken in addition to the inner trend and support, I will scale out completely. Summary: This tactic has allowed me to capture maximum profit without having to set up a trailing stop loss. Although a trailing stop can work exceptionally well in some circumstances, this is an alternative option. Hope this helps! Have you used similar tactics or a similar strategy? NOTE - This is purely educational content and none of it should be taken as financial advice. I am sharing a tactic that works for me personally, with no guarantee of results being replicated.
OANDA:XAUUSDEducation
by glennleese
6
EURAUD developing into a nice trading oportunityHello Traders. Hope you are doing well. On EURAUD we have a setup that might be very profitable in the next few days. As I am seeing, the pair is bellow a trend line resistance and if it breaks that resistance it has potential for a move towards 1.64 even 1.6450. That is more than 150 pips for the trade. The other scenario, resistance holds and the Australian dollar goes towards the 1.60 area against the euro. This is also a good trade with around 200 pips. My personal opinion is that it has higher chance for the upside, however I will not enter in the trade unless price action confirms any of the scenarios presented above. Share your toughs and Ideas in the comments. Let's grow together!!! Good luck out there.
by opentrader08
Two Ways To ProfitWe're on the 4H chart on EUR/CAD and what we're honestly seeing is consolidation in the zones of 1.53 & 1.55. Being bullish overall on eur/cad, it's it's in our best interest to look for buys. If you're experienced in counter-trend trading then catching this retracement in the level of 1.54 will be very profitable in over 60 pips ... I mean if your price action skills is accurate and timely. (Setting an alert should help with timing.) Let's look to go long after a break above the resistance level closing above to form a support level. This will put you in profit over 100 pips if your price action is on point. You may look for a retest and then an entry especially if you're a newbie to swing trading or trading in general. - Once you're a pro, you'll know where to go!
by ISmokeFlorals