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Broke back below range highs, consolidated and gaped away. Expect bearish market
Now, here is another counter-trend trading opportunity on the bullish butterfly(cyan), the market is right now at the sell zone of the structure. Are you able to create a trading plan out of that too?
Ultimately I want to see the DXY under weekly structure ( lower yellow zone). Blue zones are 4H structure
BTC is still in a 4hr downtrend as you can see on the chart displayed so no bullish entries can be considered by myself until a break of the 4hr high of $10,658 occurs. Until this happens I will remain bearish, but still cautious to the several indicators pointing out that a potential bottom is close. Things to look out for are as follows: 1- RSI is...
Use Previous resistance as possible new support areas. Wait for support creation and look for further buys
BACK TESTING CONT.: Picking up from my last Educational post, Segment A... Pip Potential (PP) is a key component for me as it allows me to statistically determine how far a trade will run. In all my trades, I want, at the very least, a 3-1 risk to reward ratio (RRR). Basically I want to make $3 for every $1 I risk. Please understand and, this is very important...
BACK TESTING: Some traders find it helpful other do not. Back-testing is, imho, the most critical part of trading Back-testing the proper way, although arduous, provides incredibly valuable data. It is the Ditch digging of trading but well worth it. I have come to embrace back testing and reviewing my trades religiously and in this day and age of automation,...
Nice reversal from 200 SMA on daily, which is also coinside with the low of the big breakup candle on 24th June. Top end of the gap.
Awaiting to enter a short position upon break of bear flag formation. Orders already in just below trend line. Yours truly, CryptO'Reilly
Just putting out a call since I have been quiet for a bit. Congrats for anyone who opened a short position after the daily EQ break which I published a while ago. Hope you can see why I am favouring a short position here. For those who follow me you will know why I ideally like to open positions in this sort of set up. Yellow trend lines have been drawn up on...
The Dow is currently rejecting significant trend lines on the weekly time frame and we are witnessing decreasing volume from a weekly perspective also. As many of you know who follow me, these trade set ups are what I look for as it allows me to set up a good risk:reward ratio in my trade plan with significant price action changes having to occur to stop my trade...
Hi all, as you can see on the weekly time frame (also monthly) we are witnessing positive price action for the ASX. Although positive price action is generally celebrated, it needs to be backed up with positive movements in relative strength, which in this case is not happening. As you will see on the chart published, despite the positive price action we...
CGC is currently in a very tight equilibrium pattern. Although these conditions are not ideal for active trades or anyone looking to trade short term, they are ideal for those of you whom are patient and are willing to wait for a break to enter a short/long position. Equilibrium patterns are my favourite pattern to trade from upon breaking as there is generally...
As you can see on the daily BTC chart at the moment, daily exponential support has remained significantly strong. Although, when we zoom out to the weekly chart, we notice that weekly exponential resistance has remained significantly strong also. With a weekly equilibrium pattern also in play, trading conditions are not looking favourable until one of these...
As you can see on the daily chart for EURUSD, there is currently a strong downtrend in motion and we are approaching trend line resistance in which we anticipate a lower high to be formed followed by continued downwards movement. The reason this is such an optimal trading opportunity is that we only need to risk 1% of the position with the stop loss due to the...
Hello everyone, I just wanted to share one of my strategies since some of our clients have asked for it. This is a strategy that I use for trading more significant accounts. But I've found out that it works really well even with small ones, especially if you use leverage. On this strategy, we use Spectro M2 indicator by Hypester.org and Alpha-Omega Index ,...