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How I Shorted the NY top on EUR/GBP **Educational** 4/26/24First thing I did was identify the trend. The market is clearly locally in a downtrend, so I was looking for a short today. The next step was to wait for New York's Initial Balance (NY IB) to form. (The NY IB is the high and low of the first hour of NYs open.) Once the IB is formed we wait to see how price interacts with it in order to make an educated decision. In this case price broke above the IB and failed to find enough buyers to push higher, so price simply re-entered the IB, and formed a failed auction. The Next thing I look for is confluence to support my idea. You can see just above the IB high, we had the Fib golden pocket and the VWAP. (The golden pocket is the 0.618 to 0.66 fib retracement, and the VWAP is the Volume Weighted Avg Price) One of the final things I look at is Volume and footprint. You can see here when I zoom in there is alot of buying into the resistance level. And that buying is followed by even heavy selling that is causing price to reject from the resistance. You can even see the delta is heavily negative as price moves away. It is obvious bears are in control here Now that everything is aligned, and I have a plan, the last part is to enter the trade. This is simple, price gets acceptance back inside of the IB, and I entered on the backtest of the IB. Stoploss above the high and I look to take profit at the IB low.
by peytonfin2
Bitcoin 10k crash! Reposting from Aug 19, 2023This is a republishing of my original post of title: Bitcoin 10k crash‼️ - 🤔 will it happen? Can it be avoided? The original version was removed - for reason I care not to explain. BITSTAMP:BTCUSD BINANCE:BTCUSDT BINANCE:BTCBUSD KUCOIN:BTCUSDC BINANCE:BTCUSDT.P I wanted to do an update to my original post and below you will see what charts and findings including the original post from August 19th to help you decide on if you want to invest. Please be advised. 🚫Do not allow this to frighten you into selling, or consider this as financial advice, understand the risk and understand this may be hypothetical so bear with me BTC -fans or any of those that follow my content, take this with a grain of salt. Like, laugh, make fun of this prediction, but I just wanted to give everyone a heads up of my findings. So by the 19th to the 20th of this month, we maybe in more trouble than we think, we may need to start the recovery process soon as this is effecting a great deal of the market and not just cryptos if this issue is not recovered soon - or - see Bitcoin fall in price to the range of 10k by September 25, 2023 or late October 2023. I will add updates to this post as it progress. Be sure like, follow, and subscribe for more tips and prediction from me. Grandmaster_oz Will be creating a streaming channel soon so I will be covering future events live or on recording. Below the current status of the market today.
Short
by Grandmaster_Oz
24
Trading Lesson 👨‍🏫#2 - Understanding Consolidations in CryptoIn today's lesson I will explain the difference in consolidations. Some of you are new to the market and are probably wondering what's happening exactly when it's not moving in price and when it's moving down more than up but would later return to the last price it was. Well to best answer that question. It's called consolidation: It's a thing that happens in the crypto market where waves of prices fluctuate up and down calculating the sells and buys of the market until it meets a point of exit - after consolidating the actual price of the market you're in, and only has two places it can go. There are two types of consolidation. The first is where it does a price correction where you have rapid 📉drops or rapid 📈rises. An lastly is a repeated wave🏄🏼‍♀️ that can run in the same location for a few hours, sometimes days, give or take how many orders were made within the past few minutes - hours - days - weeks or months. Consider it like a balloon🎈 being blown into until it 💥pops!💥 Now this is where the problem begins - we don't know where it may go once it's done, could go up or down and when that balloon has popped it's rapidly going there. We could see the 0.00002000 - range within a few hours or just see 0.00000900 range within a few minutes, depending on the orders made for shib and the rest of the market as a whole, this can last for days, weeks depending on the amount of buys or sells. Also note these are when you get the same surprise jumps like we did in 2021. It started off from the 850's and jumped to the 0.00001300 within a day. However; right behind it, is a price correction waiting for a peak in the returns to meet its end. Once that happens it'll just fall or rise back to where the price actually suppose to be and starting the process all over again. You may not know it but there are all forms of consolidations on ever chart from 1 minute to 4 hours to 1 day to 12 months. You're in a consolidation right now and you don't even know it. Like the ones that occur on a weekly chart, This is what I call "a Seasonal Trend" the day, week, or month, is in a seasonal consolidation and is trending high or low. But note anything can stop a seasonal trend and disrupt the flow of it, but it will continue the process as long as the damage done was not to bad such as major crashes in a seasonal up trend due to outside interferences such as massive sell-offs, regardless it'll still attempt to rise back because it's in a wave that's trending up-word, if the wave was trending down then it would do way more damage than expected. But the worst thing to do in a consolidation day - is to sell while it's consolidating, the price may not go no higher or no lower, and if you sell while at a low price in a consolidation you will likely lost position and will have to wait for it to finish to get more shares let alone the original shares, that's if it drops, so best to hold while in a consolidation day, at least until closing. So I hope this answers anyone question as to why your crypto stock of choice is not moving anywhere, it may not move for hours or even days. you'll just have to wait for closing hour to see if it will pop - hopefully on a positive outcome. So Happy Trading Everyone
Education
by Grandmaster_Oz
PSA#1 - Early 🤕(Crashing Warnings) for day and swing traders.This is a head's up to anyone who is a day trader or swing trader and wondering when and if it's going to crash, let me say this now. Please do me a favor and reframed from asking that cause I can't call it when the 4 hour chart is not at a peak high. This thing will kill your wallet in a day and take away over 30% or more of what you gained, but the best way for me to call it - is when it's at a peak high, no where else. I get it, you want to turn a profit with a day trade, take my opinion I will be giving a lesson soon on - but don't day trade with crypto, it's to volatile and can rapidly change in mere moments, so day trading crypto in my opinion is a death trap for your money. Swing trading however; has a better chance of making gains in this scenario. I try to warn everyone one day ahead of the suspected 4 hour chart and day chart crash, giving you time to save yourself from loses, I'm not always on point but the best I can do is warn you, it is up to you if you want to take the risk of selling. Once the day reach a peak high - it's coming down, I literally will warn everyone a day before - that drop is coming and there is hardly anything outside a whale or rally can do to stop it. This thing creates panic selling issues which adds on to the problem and makes it drop even worse. But once it starts to recover those that sold either get back in before it grows to fast gaining more shares in return, or miss out and be stuck with a lost. An even calling that can be hard to do when this 4 hour chart is rapidly crashing and a stopping point is just as hard to determine, you can over shoot the target for a rebuy or under shoot and take on loses with everyone else. So remember when the Day is announced as having a peak high and I see red on the 4 hour chart peak - be ready to sell and don't buy back in for at least 1 full trading day or even 2 - it'll be none stop crashing even with support. Anywho Happy Trading everyone.
by Grandmaster_Oz
HELP VICTIMS OF TURKEY EARTHQUAKE..OANDA:XAUUSD Here's how to help the victims of the earthquake in Turkey: You can send compatible tokens to the addresses in the link below to Ahbap Organization's crypto wallets which the Turkish government approved for donations. CRYPTO ADDRESSES YOU CAN DONATE TO & TRACK: crypto.ahbap.org Alternative campaigns: Turkish Red Crescent: www.kizilay.org.tr AFAD (Ministry of Interior Disaster and Emergency Management Presidency en.afad.gov.tr Comment: AHBAP Accounts for International Bank Transfers: ahbap.org Turkish Red Crescent Accounts for International Bank and Credit Card Transfers: www.kizilay.org.tr
FX:XAUUSDEducation
by INVESTRONE
Bitcoin Day Trading Setups, Scalping Entries🖥️ We have determined there is a 75% chance Bitcoin will RISE from our current entry point. 📉 LONG - BTC : $16,605 📉 💵 Length of trade: we are expecting BTC to hit a $250 scalp, with a high end of $350 - minimum expectation $175. 🕰️ Duration of trade: we are expecting a possible fast spike going up 150-200pts, then BTC to makes its way up to the prior level 16.85-17k by market close Friday. 📊🖥️ INDICATOR SHOWN ON CHART : Scot Signal Indicator
Long
by VirlVideo
1
Institutional Supply: AUD/USD ShortHi traders, Max here with a second chart to share today! Similar like the AUD/CAD play, I am waiting for price to also reach the AUD/USD supply zone shown on my chart. Of course the similarities are clear, and the correlation is high. Yet, it is possible that one of the two chart develop nicer on the lower-timeframes, doubling the potential to see a clean and nice setup to execute. This is one of the reasons that I always like to check pairs that are similar or correlated with eachother, all because my lower time-frame criteria is very strict! Let's see how it shapes up. Kind regards, Max Nieveld
Short
by newcapitalfx
1
Your Uniqueness in the MarketTake a look at this chart, or any chart of your choosing, and tell me what you see! Not just the technical terms and the direction of the market but explain what you are seeing, thinking and feeling as you read the market data from start to finish. If you got the responses from twenty different people, you'd receive twenty different perspectives with twenty different interpretations. Some of them overlapping in their theories and explanations while others violently contradict and oppose each other. The beautiful thing about trading is that we all at one time or another are correct. "Correct" being that their was a legitimate opportunity to place a trade and make money based on your unique perspective of the information. The difficult thing in trading is really understanding what we see and perceive in all of the market data. I want to emphasize... The difficult thing about trading is in truly understanding how we see and interpret market data in our own unique way. Some people see long, while others see short, and depending upon the system; on any particular trade, on any particular day, both sets of people are correct. All systems have winners and losers, its an unavoidable fact. The acceptance of this fact will help you understand that you don't necessarily need to go searching for someone else's way of trading, you only to need gain a thorough understanding of how you view things. What resonates with you and your uniqueness? Maybe its moving averages and RSI, maybe its price action and support and resistance, or maybe its simply the day of the week at a specific time. When you start to unpack your way of making sense of the market you can find your unique way of operating in it. If success in the market was primarily based on technical skills, and the use of tools, indicators, and spreadsheets. There would be a lot more profitable traders. Trading attracts some of the most brilliant minds, intellectual beasts, and academic rockstars, and yet over 90% of traders fail and are unsuccessful. You yourself, as you read this may realize you are a brilliant person yet you struggle to stay consistent with your trading. The answer to your problem is not solely in the technical skill, its likely hiding in the unexamined parts of your personality. If you know this, then you also know that awareness and application are two totally different things. You can be aware that you have a personal problem with following a trading methodology but feel totally powerless in correcting it. My question to you would then be, how much time have you spent experiencing your own unique style of trading? Stop fighting your nature, and embrace your expression. There are market fundamentals and market basics that every trader needs to understand. Price Action Structure Trend Risk Beyond this your style of trading is likely a combination of many different skills that you've accumulated from various sources. The important thing for each trader is to understand which skills resonate most with them. Which skills fit your unique market perspective. Which skills can you use to build a system of trading that allows you to account for the mixture of wins and losses, while keeping you in an optimal mental space, so that you may execute on your level of understanding. I think the challenge for every trader, is to take the time to identify a purpose in their trading. To understand why it is that you feel drawn to embark on such a challenging task. Those traders who stick with it, and generate some answers to these questions will have taken huge strides in understanding how the market serves as mirror. Reflecting back at you, the potential for you to fulfill your desires coupled with everything that you need to work on, and improve upon, on a very personal level. If you don't come from a trading and investing background, either from family ties or academia, then all of this becomes even more important. Self- taught traders need to understand their uniqueness in the market. You are the most important part of your trading system. It would be crazy not to give yourself the time and attention you deserve. Happy Trading!
UEducation
by LevelsArchitect
1
Bitcoin for the "W"Whats Up guys? I Posted an $ETH analysis a few days ago showing you why the charts are telling us that another move to $2000+ is in the cards, before the reality of a recession hits, and new lows under 1k are put in I posted it below if you want to check it out. Though its in a different Pattern than $ETH, I will show you why Bitcoin is also screaming that another pump is around the corner. During the crypto rally in July/August, Bitcoin made a choppy move up Vs. Eth's more "straight up" impulsive move. After a few weeks of downside, Bitcoin is once again sitting on that July Bottom. If you look closely, Almost every bottom pattern in financial markets resemble (variation on the theme) one of two Patterns. 1. Inverse Head and shoulders. 2. "W" Pattern. I believe we're looking at an almost complete W pattern on the 4H and Daily Time frames, in which the next move up would complete the second "leg" of the W. Seeing what you believe is A strong corrective pattern on the higher time frames is one thing, but I personally don't have conviction in a trade unless there is also confluence on the lower time frames as well. Well, Bitcoin is showing us exactly that. Since August 28th, Bitcoin has presented choppy behavior (also a strong sign of a potential bottom) while holding a 6 day low. Again, on top of the strong bottom structure (support) from July. On top of that, we re even seeing it chop down over the last 48 hours into those 6 day lows, for even more confluence. Its hard to call how high or low a particular move will go, but I think $25,000 is a conservative target for this next leg up. A few daily closes below $17,000 would invalidate the pattern and therefore the trade for me In conclusion, BTC is showing us that the downside in august was just a correction in a bear market rally, and that one more move up to $25,000 is likely before a final collapse. Ultimately, I think this bear market lasts well into next year. But there will always be Bear market Rallies. Cheers!
COINBASE:BTCUSDLong
by Brenvest
Emotions in Trading VS Emotion in Life Emotions in Trading VS Emotion in Life It needs to be understood that emotions are a part of life and can’t not be ignored or locked away. The important thing is how we deal with them. Do you let your emotions control you or do you take control of them? We first need to understand why we have emotions: Emotions help us to take action, to survive, strike and avoid danger. To make decisions and to understand others. They can help a decision-maker determine which aspects of a decision are the most relevant to their specific situation. Emotions are like a double-edged sword: They help you see problems in a new light or they create problems that aren’t even relevant. Emotion reduces anxiety or increases anxiety. Eases depression or creates depression. Let’s move onto emotions when it comes to trading: Emotions are great when you are with friends, writing or watching a movie but when it comes to trading, they are pure kryptonite. If you feel like you need to rationalize or defend the trade you have just made, then this a clear sign of emotion. Be surgical with your trades! Do not let one bad trade ruin your day, this is counterproductive. Stay focused and reject the emotions and self-loathing. Move on! We should be following structure as long as it is profitable, all the while looking for signs of rotation. You can never go broke by taking profit. Be mindful of your mood and confidence level. How actively and carefully you define your risk will have major implications on the long-term health of your wallet. Your goals should be humble, and your approach to reaching them methodical. Money is made waiting. If you spend your time obsessing over old losses you have a high probability of generating new ones. After a big loss – Thinking you have to make the money in the next trades is a bad idea as you do not have a good feel for the trade and so you are likely to repeat the same mistakes that cost you money in the first place. Always stay patient, stick to the System and don’t let yourself get caught up in the emotions of trading. Be patient, be careful and choose your trades wisely. You should be a cold calculated sniper, focused on the mission at hand. Monitor your emotion and aim to be neither too high or too low – stay grounded and focused. If you are not willing to lose it. Don’t put it on the exchange. Learn to accept and embrace the risk. Traders should put on a trade without the slightest bit of hesitation or conflict, and just as freely without hesitation or conflict, admit when you were wrong. If you are unable to trade without the slightest bit of emotion or discomfort (specifically, fear and greed) then you have not learned how to accept the risks inherent in trading. This is a big problem, because to whatever degree you haven’t accepted the risk, is the same degree to which you will avoid the risk. Trying to avoid something that is unavoidable will have disastrous effects on your ability to trade successfully. Redefine your trading activities in a way that allows you to completely accept the risks is the key to thinking like a successful trader. Learning to accept the risk is a trading skill. It is one of the most important ones you can learn. Disciplined Traders: Developing Winning Attitudes. Those traders who have confidence in their own trades, who trust themselves to do what needs to be done without hesitation, are the ones who become successful. It’s when you’re winning that you are most susceptible to making a mistake, overtrading, putting on too large a position, violating your rules, or generally operating as if no prudent boundaries on your behavior are necessary. You create your own outcomes, the market doesn't care or feel anything towards you. The way you think (is extremely important) Think it - Believe it - Achieve it The best traders stay in the flow because they don’t try to get anything from the market; they simply make themselves available so they can take advantage of whatever the market is offering at any given moment. Accepting the risk means accepting the consequences of your trades without emotional discomfort or fear. Each trade is a new trade. No, matter if you won or lost your last trade, it doesn't impact your current trade. If you are fearful, you can't learn something new and it will make you forget the bigger picture. No one knows what is going to happen next, so stick to the strategy. What you think does not matter - What you see can be changed - What you feel is emotion which is not needed when trading. Every trade is different, there is no such thing as certainty in life let alone trading. To eliminate the emotional risk of trading, you have to neutralize your expectations about what the market will or will not do at any given moment or in any given situation. Learn to trade with NO expectations. Create a carefree state of mind that completely accepts the fact that there are always unknown forces operating in the market. “Losses are simply the cost of doing business or the amount of money I need to spend to make myself available for the winning trades.” When you really believe that trading is simply a probability game, concepts like right and wrong or win and lose no longer have the same significance. A Trade in three phases: Entry: The first phase commences when direction has been confirmed and requirements to enter have been established. You begin getting excited, your heart pumps a little faster, you sit up in your chair. As your entry point gets closer, you start to lean toward the screens. As the entry gets closer and closer, you start to feel nervous. You begin to think you are missing out, and that you should have already entered the trade (This is FOMO). Then it begins to pull back, which by the way you wanted to happen, but you begin to start questioning whether the entry point is still valid. You ask yourself, is this just a pullback or is it reversing? All of a sudden it does a quick spike up ... Followed by a quick dump. Now your heart is really pounding and your finger on the mouse is shaking. It looks like the right time to enter; all the right confirmations are present, but you just do not feel it is right and you are seeing all these other signals telling you that it is the wrong setup! At that very moment you need to decide if you are going to listen to your emotions or follow the process and systems you have be taught. You cannot do both. DECIDE! During the Trade: You finally make the decision and pull the trigger to enter, but that does not calm your emotions. In fact, the emotions keep coming, and keep coming even more powerfully. You hear yourself say, “Yes! Yes! It’s going in my direction. My entry was perfect.” But then, “Oh no! It’s starting to go against me. My feelings were right. I shouldn’t be in this trade but wait, it’s now coming back in my direction!” “Yes! Keep going!” “Wait! Oh no! It’s going against me again.” You start to frantically search for signals to help you decide whether or not to stay in, or exit the trade. Your heart is still pounding. Your mind is saying that since you have some profit, you should take it and run. “Don’t give it back! Exit! Exit! EXIT!” You give in, you exit. After the Trade: At this very moment, you are now calm. You survived. Your body and mind are safe from losing and you also made some profit. But wait! Your trade starts to rise again. Without you. “Damn it! I knew I was right. Why did I get out? What was I thinking? Yep, it hit my profit target too. FK!” The frustration of not sticking to your plan all of a sudden start to sink in and you begin to get angry and frustrated. Now you have to decide if you are going to keep trading or walk away. What I hope this scenario illustrated to you is that when your setup starts to appear. Your uncertainty will be unleashed. Your emotions will be triggered to protect yourself from losses, but instead you want to invoke your hyper senses, so you focus on your execution rather than the outcome. This is the emotional intelligence you are looking for in order to become profitable. I have linked any amazing idea to this article that I believe will help you just as much as this one. (NFA - Just my thoughts) Thanks for reading and have a success week ahead!
by Hybrid-Trading
4