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Technical Analysis 101: Support and Resistance In this video I cover the basics of the support and resistance levels and how to chart it out, If you enjoyed this video please like it and share it with your friends. Also please drop a comment, feedback, suggestion for me to cover or just to work on, and that would be much appreciated. Next video I'll cover the Fibonacci retracement and extension to plot targets. So we covered the trend lines and support and resistance levels, so please practice with those and send me charts if you need someone to look over it! As the main goal is for all of us to learn from each other and become better chartist and traders!
WEducation
by jUiCE_Trades
5
FUNDAMENTALS OF SUCCESSFUL TRADINGHello traders! Trading on the stock exchange is much more than just making deals. This is a whole algorithm of actions, following which we consistently achieve success. Trading does not start with the opening of a trading session. Trading starts with preparation! Fundamental preparation - studying the laws of the market and trading rules. And daily preparation - fixing the result, market analysis. We must approach trading with confidence, without succumbing to emotions: remember the importance of risk management, not risk assets and always use SL, not make rash decisions on transactions. Finally, trading does not end at the end of the day. After the end of the session, we must analyze our work and, if mistakes were made or assumptions did not work, adjust the plan and strategy for the next day. Completing all stages of the work will ultimately bring good benefits! Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
Education
by Lingrid
10
[Risk Management trick] Tilting the "Math" in your favor!We all try to find the strategies which offer best possible win probabilities. Yet, we often overlook another crucial component of increasing your odds of winning => risk management. Today, I am going to show you how you can use a simple risk management trick to tilt the "Math" in your favor. Would you like to increase the output of your strategy by 25% without doing anything extra? Imagine a 3R win suddenly increasing to 3.75R with no change in the strategy at all. Consider this trade... We are trying to setup a sell trade with a very defined -1R risk and +3R profit. If we were to loose this trade, we will loose 1% of our capital - and if we win, we will make 3% in return (3RR). Here, we assumed that we'll exit the trade when price moves -1R completely against us. What if, we pivot our thinking and assume the trade is lost when price has moved -0.8R : because if the trade goes that much against you, there's a very high probability that it'll hit your stop loss too. There is no reason to pretend that it can still turn around at the last moment. Murphy's law truly applies here - "Anything that can go wrong will go wrong". If we do really pivot our thinking, lets see how it works in our favor! The Stop loss is now updated and set at -0.8R So a win will still give us the same 3%, but the loss will only wipe out -0.8% from our account. Now because our profit targets are still setup as per the original 1% trade, you can now see that we now get this extra reward if our trade hits its original 3R target The moment we draw 3R as per our new -0.8R stop loss, we get this - You can see how the 3R with -0.8R stop loss is achieved much before than the 3R with -1R stop loss (obviously)! That means, the extra reward you got when the trade reached your original 3R - is additional profit which you now have - without ever changing your trading strategy! 3/0.8 = 0.75 (which is 25% of your original 3R target) 0.75/3 = 25% You now have extra an 25% reward for free! New RR = 3.75 This is a very beautiful math equation for yet another reason! Imagine you lost your trade with a -0.8R => the additional 0.75R you will achieve (for free) from another trade will extremely quickly cover up anything you lost. As you can see, we can really use sound risk management techniques & Math to our benefit. This is called : Tilting the "Math" in your favor!
Education
by makuchaku
155
Types of Forex currency pairsCurrency pairs - two currencies between which trade transactions are carried out on the market. The relationship of currencies in a pair depends on the rate. So, the base currency is the one that is bought or sold. In the designation of a currency pair, the base currency is always indicated first. Quote currency - the way in which the price of the base currency is expressed. In the designation of a currency pair, the quoted currency is always indicated as the second one. Currency pairs are divided into groups according to profitability and volatility. Roughly speaking - by popularity. Majors . Currency pairs in which the US dollar participates, and the second currency is the national currency of highly developed countries. Cross-courses. Currency pairs in which the ratio of currencies is determined by their rate in relation to a third currency (usually the same - the dollar). Exotic. Currency pairs in which the dollar (or euro) and national currencies of developing countries are related. Exotic pairs are among the most difficult to trade as they have low liquidity. The volume of transactions for these pairs is relatively small. Beginners are not advised to work with them. ------------------- Share your opinion in the comments and support the idea with likes. Thank you for your support!
Education
by DeGRAM
10
Trend following - a different way.As folk who follow my posts know, I don't keep any secrets. I explain some of my methodology in this chart. It is bespoke. To be 100% clear, this will not work 'for you'. No methodology works 'for you'. You work the methodology through experience to create your advantages. I'm not saying that people should change to this way. I do not interfere at all with what traders want to do in their favoured methodology. There is no one road to the promised land. Controlling loss is the highest priority. The markets are there to 'eat you alive'. Price action is an important part of all this. As well, it is important to understand your particular market and learn its ways. Oh yes - with time you can come to figure out certain probabilities that may not be shown in the 'technicals'. What you see in this chart can be done on any time frame from 3 min to 1-day. I can't explain everything in one chart. I've done videos on this before. Note carefully: I do not sell anything. I do not do trainings or take anybody's money. I do not sign up to any services. I do not provide evidence of winnings or losses. Disclaimers : This is not advice or encouragement to trade securities on live accounts. Chart positions shown are not suggestions. No predictions and no guarantees supplied or implied. Heavy losses can be expected if trading live accounts. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, kindly sue yourself.
FOREXCOM:US30Education
by Captain_Walker
EDUCATION: Fibonacci Extensions Hello, dear subscribers! The topic of this article is Fibonacci Extensions. What is Fibonacci Extensions? This indicator demonstrates the hidden potential resistance levels for the uptrend and support levels for the downtrend. Here is as example of the uptrend Fib Extensions. Let's make a reservation right away that the Fibonacci Extensions is not the same as Fibonacci Retracement. The second one is usually used for the pullback levels definition after a huge dump, but not for the potential targets of the uptrend. How to define the Fibonacci Extensions? For the levels definition we should find the lowest (point A) and highest (point B) points of the last global swing. After that we should define the lowest point of current swing and the beginnig of the uptrend (point C). The extensions are defined with the Fibonacci numbers and the corresponding levels are 23%, 38%, 50%, 61%, 78%, 100% and 161%. This levels are calculated automatically in the TradingView. How to use Fibonacci levels? As you can see on the chart these levels are usually associated with the difficulties for the price to break it through. These are resistance levels and if some of these levels is broken by the price it is likely to see the next Fib level. For example, now the BTC price is testing the 161% Fib level and if it break this level confidently the next price target could corresponds to the next Fib extensions level.
Education
by Skyrexio
2
EDUCATION: Ichimoku - Part 2Today we continue to study Ichimoku Indicator trading strategies. Last time we analysed in details the conversion, base and lagging span lines. In this article we apply Kumo cloud which is formed by Leading Spans A and B. The formulas for the calculation you can see on the chart. The Strategy Before considering the strategy we should understand that the Kumo cloud is projected forward for 26 periods. The simpliest version of the Ichimoku strategy employs just the Kumo cloud. We just should define the point where the Lagging Span A crossed the Span B from down to up and execute the long position. It is also recommended to define the long positions entry points more strictly. The price should be above the Kumo cloud and the conversion line should cross the base line from down to up near the Span A and Span B crossover. When to exit? You can exit long positions with three possible ways on your own preferences: 1)When the price crossed the Kumo 2)When the Span A crossed the Span B from up to down 3)When the conversion line crossed the base line from up to down You should test it by yourself.
Education
by Skyrexio
EDUCATION: MACDHello, dear subscribers! Today we will examine another one lagging indicator - MACD. It is very useful indicator but you need to use it carefully because usually it is just adds other indicators and can to generate a lot of fake signals. What is MACD? MACD consists of: 1)MACD (blue) = EMA(12) - EMA(26) 2)Signal (red) = EMA(9) 3)Histogram = MACD - Signal The MACD line is the long EMA value substracted from fast EMA value. It shows the trend direction. If the MACD>0 the market is bullish, if MACD<0 - bearish. The difference between MACD and Signal line is the proxy of trend strength. How to trade with MACD? The classical approach to MACD is to search the MACD and Signal line crossovers: when the MACD crossed the signal line from down to up it is the bullish signal, in opposite case - bearish. The MACD and zero line crossover means the trend confirmation. But this approach is not good enough to make profit. As you can see on the chart it can generate fake signals or signals which are too late - the price have already grown. If you want to use only MACD, please, find really strong signals. For example, if the price demonstrated higher low and MACD - lower low, it is the hidden bullish divergence. With the further MACD and signal lines crossover it gave a really nice long signal. Summary 1)Find the price/MACD divergence 2)Wait for the MACD and signal line crossover 3)Enter an appropriate position 4)Be careful about weak signals 5)Use MACD with other indicators as an addition confirmation sign
Education
by Skyrexio
EDUCATION: Commodity Channel Index (CCI)Hello, dear subscribers! Today's topic is the Commodity Channel Index (CCI). To be honest, in sole use it is almost useless indicator but a lot of profitable strategies and indicators contain it, this is the reason we need to understand how does it work. Definition The CCI formula demonstrated on the chart. To make it clear it is the some math manipulation with the typical price momentum, the same as in momentum oscillators calculation, but here we have unbounded value. The CCI value higher than 100 associated with asset overbought condition, lower than -100 - oversold. It measures the strength of the trend, but usually this information is not actual. How to trade with CCI? According to fact that CCI is lagged indicator we are not recommended you to trade with it in sole use, because it generates a lot of fake signals or does it when it's too late. We can give you some signals which help you to build the complex strategy. When the CCI in overbought zone it can be the evidence of future price drop, in opposite case - the price increase. You can see on the chart the potential short and long exit and entry points, but keep in mind that there are a lot of cases when this analysis is invalid. Summary 1)Don't use CCI as sole indicator 2)The main feature of this indicator is overbought and oversold conditions. When the other indicator demonstrates the potential price movement direction you can use CCI as confirmation.
Education
by Skyrexio
1
EDUCATION: Williams Alligator IndicatorHello, dear subscribers! Today's topic is Williams Alligator (WA) Indicator, which is very important and efficient trading tool at any timeframe. Definition WA consists of three lines: Jaw = Moving average with length 13 and offset 8 Teeth = Moving average with length 8 and offset 5 Lips = Moving average with length 5 and offset 3 But you can choose your own settings. This indicator usually use for trend confirmation and works perfect with other indicators, which will be examined in next topics. How to trade with Williams Alligator? Alligator has 2 states: slleping and feeding time. The yellow areas demonstrate the sleeping time, when the lines are intertwined. During this period is not recommended to trade. When the lips start rapidly move down it means the downtrend start. After this the jaw starts open and the feeding time confirmed. When the red candle closed lower than all three MA lines, this is the perfect moment to entry short position. The exit condition is the crossover the lips and teeth lined, but you can do it earlier - when the price broke up the lips or teeth lines. For the long position the opposite is true, the lips line have to rapidly move up and be above other MA lines. Summary 1)Define the alligator sleeping time 2)Find the moment when lips line starts to move down and below other lines for short and move up and above for long 3)Wait the candle close below/above all three lines for short/long and entry position 4)Exit the position when the lips line crossed the teeth line This indicator is also has not perfect performance in sole use, but with other indicators it can bring a great profit. We will talk about it next time.
Education
by Skyrexio
2
EDUCATION: Volume-Weighted Average Price Hello, dear subscribers! The next topic is the Volume-Weighted Average Price (VWAP) indicator. The vo;ume based indicators are very significant for full price movement analysis. Definition The VWAP is a measurement of ratio of value traded to total volume traded for the particular time period. The calculation formula is represented on the chart. This indicator helps to know whether the market is bullish (price above the VWAP) or bearish (below the VWAP) now. How to trade with VWAP? The classic approach to VWAP is the execution long position when the price clearly broke up over the VWAP, the short position - if the opposite is true. The 15 min timeframe is usually used but you can use shorter timeframes, but not longer. The VWAP is not good for the sole use because it generates a lot of fake signals, which need to be filtered with the another indicators. The particular strategy we will examine later. Summary 1)Set 15 min or shorter timeframe 2)Long when price broke up the VWAP 3)Short when the price broke down the VWAP 4)Use another indicator for entry point confirmation
Education
by Skyrexio
2
EDUCATION: Pivot LevelsHello, dear subscribers! Today we are going to talk about one of the most useful indicators in cryptotrading - pivot levels(points). We have already considered the lagging and leading indicators and decided that the second one is the most valuable. Definition Pivot levels is the leading indicator which define the potential pivot levels for the next trading period (in our example - month). The formulas for the levels calculation you can see on the picture. It is known that when the price is up of the central pivot - the market is in the uptrend, if the opposite - in the downtrend. How to trade with pivot levels It is great to use pivot level with some lagging indicator to confirm the entry points. This indicator can give the information about levels when the price can bounce off or reverse. You can see the points with small red arrows where the price bounced off pivot levels and went down after it - this points can be used for the short position. The green arrows demonstrate the potential price growth points. But there are also a lot of breakpoints (blue circles), to avoid the trade execution next to these point you need to use some confirmation with lagging indicator. Summary 1)Define the trend direction 2)Open short if downtrend, long - if uptrend 3)Define the entry points next to pivots 4)Find the confirmation with some lagging indicator to avoid the pivot break points 5)Execute the trade, set the sloploss level Good luck!
Education
by Skyrexio
EDUCATION: Double Bottom PatternHello, dear subscribers! Today we discuss a very important special case of support line - the Double Bottom chart pattern. Definition The double bottom usually occurs when price is in the downtrend and bounced off some level (First bottom). After this bounce it seems that the price is going to fall down, but bounces off this level again (Second bottom). If the price reached the neck line (purple line), the probability of the trend reverse is high. How to trade with double bottom? You need to specify that price now is in downtrend. After the double bottom is formed, you can wait the price and neck line crossover and enter a long position with some stoploss to eliminate the possible downtrend continuation. Be careful to sole use this pattern, in case of trend reverse it is also confirmed by technical indicators, which we will examine in next posts. Summary 1)To wait the full double bottom pattern formed 2)To entry a position on the price and neckline crossover 3)To take a stoploss for the downtrend continuation
Education
by Skyrexio
1