in this tutorial i'll explain how to interpreter candlestick Wicks, or Shadow to get a better understanding of the price action, and market behaviour.
in this example we have a range with a lot of wick's at the bottom. A lot of you learned that wicks means rejection in the opposite side, that's right in some way.
Possible buys on GJ.
waiting for GJ to break above the current consolidation and retest it, since is in a downtrend im looking to buy after price form a market structure
otherwise if it brakes velow i'll look to take a buy after bounce off the level that i marked
Hello everyone, today i got my first tutorial on tradingview, I hope is gonna be helpfoul.
You have to follow those rules and with practice you can be a consistent trader.
1- Identify the trend and trade in the direction of the trend:
can be so simple to identify a trend using structure, you don't need any EMA or any indicators,
as the theory of Dow...
im waiting for this current 4H candle to create a Wick to the downside, and a flip of candle with the breaking of the previous wick.
If that happen im gonna be looking for long, once we get 30 pips SL to BE.
if this trade dosen't work out im gonna be waiting for a retracement with a continuation to the upside
we are currently retesting the previous HH,
im expeting a continuation if we get some rejection
unfortunally is the end of the week so i'll see next week if we get something intresting
if the candle close below the previous high this trade is invalid
we broke above an important level leaving space for continuation, i bought GJ once the candle high was broken, targetting 3 times the SL, i'll set the stop loss to brake even once the trade reach 30 pips
im looking for a sell once the current 4h candle breaks the low of the previous 4H candle
as continuation of the donwtrend and price should move to create a new lowerlow,
once it hits the 1:1 ill close 70% of the position and im place my stoploss to BE.
buys on BTC with a 8:1 RR, we just broke above this important level with a clean zone on the left,
it should continue to the upside, im looking for securing 1:1, then stop loss at BE and scaling the
profits on the way to the TP
we have a possible duble top formation on EUR/USD we can think about a short
the market it's obiusly over extended so let's wait till there's a fromation
of an market extention showing us rejeciton in that zone an then we can enter a short
A short term sell for gold, i expect it to go down if he reach the previous low
the 1H candle is showing us rejection from the S/R so it's possible to have downward momentum
it's a clean zone, for this kind of trade i suggest a low target and a small stop loss
RR aproximatley 1.5/1.0
you can even set the stop loss on the max price of the previous 15/30 minute...
we reached a important daily level on GBPJPY, showin us some form of rejection, waiting for the level to hold
the only thing that keep me away from this trade is the fact that we broke a potential Bearflag structure
with a retest, with a brearish engulfing.
i'm gonna keep uptadeted the idea, waiting for confermation...