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BTC - Back to 20k?!BTC - Back to 20k?! You either going to love this or hate this but I think we should re-visit the 19-20.5k areas, now what I think really doesn't matter. However, the technicals is what really matters. If we don't stay above this elevated areas 19-20k but if we get bulls above and go above key resistance sure 25k easily but we do have FOMC this week and that is critical like I've stated many times no one really knows the definite outcome of FOMC and it is same as technicals but when you create edge you have mental support but right now FOMC that's coin flip event it's messy if you buy or even sell now you just get frustrated because you're stuck in this range. I've done this many times myself and I still do at times. Also,reality those who follow signal providers that's not real trading, that's just you wanting to get rich quick thinking trading is some kind of side hobby when it's not. Now in front technically we know the levels where bulls can gain control and bears can gain control. You can even get a better view on daily but I wouldn't be surprised if we revisit 20k areas however, even if we get break above or below - I will be making sure it isn't a fake break out etc either direction and that's when your own trade plan helps. When becoming a professional trader you have a plan and you execute with that plan. The 'wannabe' trader either usually follow signal provider or listening to outside noise. That won't help, unfortunately I haven't came across a successful trader which hasn't had yrs of struggles or there own trade plan. Not every trade plan is the same, that's what makes trading amazing, there no one set way. You can to choose the way you want trade by creating your own edge! A great trader once stated ' Trade what you see, not what you think'. It's important to keep your emotions in check at all times, you must be strong to ignore the noise. Have a great week ahead, Trade Journal
COINBASE:BTCUSD
by Trade_Journal
2
📍 The 5 Step Process1️⃣ MARKET STRUCTURE The market structure has a significant impact on the formation of prices, dissemination of information, and execution of transactions. In the context of stock trading, market structure can also refer to the pattern of price movements in a downtrend, characterized by lower highs and lower lows. This pattern indicates that prices are consistently decreasing over time and that selling pressure is outweighing buying pressure. The market structure in a downtrend can provide important information to traders and investors about the overall sentiment in the market and can inform their decision-making process. 2️⃣ PSYCHOLOGICAL LEVEL A psychological price level in trading refers to a price point that is believed to have a significant impact on market participants' behavior and decision making. These price levels are usually round numbers, such as $50 or $100, or important milestones, such as all-time highs or lows, and are often used as reference points in trading. Market participants often view psychological price levels as significant barriers that need to be breached or defended in order to signal a change in market sentiment. 3️⃣ FIBONACCI Fibonacci retracement is a technical analysis tool used in stock trading to identify potential levels of support and resistance. It is based on the idea that prices will tend to retrace a predictable portion of a move, after which they will continue to move in the original direction. The tool is used by drawing a trendline between two extreme points and then dividing the vertical distance by the key Fibonacci ratios of 23.6%, 38.2%, 50%, 61.8% and 100%. 4️⃣ TRENDLINE A trendline in trading is a straight line drawn on a price chart to identify a current trend in the market. The trendline is drawn by connecting two or more price points and is used to identify the direction of the trend, either up, down, or sideways. If the trendline is sloping upwards, it is considered an uptrend, and if it is sloping downwards, it is considered a downtrend. 5️⃣ CANDLESTICK A twizzer bottom is formed when a long green candle is followed by a red candle that closes below the midpoint of the first candle. This pattern indicates that the buying pressure that was present in the first candle is being replaced by selling pressure, and suggests a potential reversal from an uptrend to a downtrend. It's important to note that a twizzer candlestick pattern is just one piece of information and should not be relied upon solely when making trading decisions. It is often used in conjunction with other technical analysis tools and indicators to form a more comprehensive view of market conditions. 👤 @AlgoBuddy 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work, please like, comment and follow ❤️
by QuantVue
2
AUDNZD AUDNZD Another day, another great opportunity for us trades to take advantage of. AUDNZD We are at key resistance when it comes to higher time frame including daily and weekly. We could say we are within the channel for now but if we break below 50 EMA & of trendline support expect 1.09170 areas to be target areas. However, if we break the highs of 1.09865 then I expect we retest the highs again. There are really clear levels in this, you could call this bear flag but let's wait and see! Don't forget ...It is a Friday! Trade Journal
by Trade_Journal
2/13/2023 Upcoming SPY and Market diveIn this Video I discuss upcoming events quickly, then dive into the weekly analysis of the SPY ETF which is a good proxy for the S&P500 that is often a tell on general market movements. We also discuss some recession indicators, and some pattern analysis. Also dont Forget CPI is released on the 15th. You can jump to the below links and hit the play from the dates submitted and it will play out the bars from publishing until now. I will keep this going so we can follow outcomes to analysis!
AMEX:SPYLong
by Markets-Sniper
BTCUSDTHello my dear friends Looking closer at Bitcoin, the four-hour timeframe We have an ascending wedge pattern at the end of the uptrend, which is accompanied by a negative divergence. But the support area of $22,213 has not been fully consumed, due to the fact that this area is not consumed, there is a possibility that the increasing trend will continue to higher areas. But if the range of $22,213 is consumed, our wedge pattern is valid and we can expect the formation of a downward trend similar to the drawn scenario. We would be happy to hear your opinion.
Short
by FiboTech
4
j.Hejazi | GBPCAD Bearish TrendThe GBPCAD currency pair has failed to make a higher high and instead made a lower high. It then broke the monthly trend line and the 50-day moving average, immediately testing the neckline of the double top pattern. On the last day of the previous week, the price managed to break that line with a high momentum candle engulfing all of that week's candles. Now, the price is clearly targeting the next support level at 1.58000 to make the first lower low in the bearish trend. Jumping into this trade right now is not recommended due to the close target and far stop loss. Those who have not yet entered the trend can do so by waiting for any pullback and trying to sell from the highest available price. ---------------------- Let me know your thoughts in the comments, and show your support by liking the idea. Please follow if you're interested in more ideas like this. Your support is greatly appreciated!
Short
by Candlestick_OB