SIlver has again faced resistance at these levels giving a strong bearish bar.
It can be shorted for a positional trade.
Other things are explained on the chart.
( Related Idea - The older silver setup that worked )
This is for people who trade the main Indian index "Nifty" .
tomorrow is the day when Indian union budget will be presented and a lot of movement is expected.
You'll get a lot of calls/ideas saying this will happen, that will happen, go long, go short, etc.
But, as professional traders, we know that predicting is not our job, our job is to make money.
here I have marked important lines and price levels you should keep an eye on.
White lines are coming from previous weekly levels.
Black lines are for daily.
White lines are stronger than black.
trade the lines.
Buy if shows support, sell if it penetrates good.
on this chart,
I have drawn, important weekly and daily support marked by green line.
Then I have drawn a parallel channel ( almost, a bit modified due to price fulucatations ) which displays the price reaction points.
My view is that FTSE would rise,
and touch the upper trendline.
I have also posted instructions on the chart itself.
Hi fellow traders,
I have published a new script to assist you in trading.
As day and short term traders, we need strong movement,
to save our time and
allow us to trade only when we expect a lot of movement,
I have built this script.
Simple Rule : Trade when it enters green zone. That's it.
Avoid trading when in red zone and preferably, blue zone too....
Continued from Educational Series - Part 1 (link below) ;
3. Expectancy :
So, now we have got our risk reward ratio and winrate.
We move on to calculate the expectancy of our trading strategy.
The formula is,
Expectancy = (Probability of Win * Average Win) – (Probability of Loss * Average Loss)
So, in our scenario,
this post is intended for novice or intermediate traders, professional traders can skip it or read it to refresh what they already know.
For the benefit of other traders,
I am starting an educational series where i will be covering lots of topics related to trading which everyone should abide by.
It will be in simple language and easy explanation so...
Go long on BITSTAMP:BTCUSD | CMP = 902
LONG : the low of the bar is above the upper channel .
STOP LOSS : high of the bar is below the upper channel.
TARGET : according to follow up price action.
Here, I analyze NASDAQ:FB according to trendlines.
Lower green trendline is important, tracing back to earlier months, hence thickest .
Upper green trendline is of lesser time, hence less thicker .
The red lines show the most recent levels to keep a tab on.
The black lines are another set of trendlines to look.
Watch how how the stock...