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Surrender Bears! Accumulation above 26,747 ? 📽️Timeframes are closing above Weekly Zone 26,770. Unless during the next 22 hours we see a 1.22% dump below our weekly level , I'm Looking up from here. Price has returned into our range from the second half of May between Daily Zone 27,400$ and 26,747$ Weekly Zone. Price printed a solid Bull candle rejecting our Weekly level which was anticipated. Price consolidated and dropped slightly during yesterday's daily candle. We haven't started dumping and price has been consolidating along the Highs of our Daily range from the Second half of Month May. The Highs during the Second half of May being 27,400$. As the New week begins I am looking for an Increase in Bitcoin as the debt ceiling controversy ends and the Summer begins. 29,246 Weekly Level is our target for the 1st half of June. Safe Trading.
COINBASE:BTCUSDLong
by ShrewdCatfx
Forex Gods 🧞 Dare to Continue Eurusd? Well.. entering the final london session of the week here. I'd be a fool to change up on my analysis. What I have projected thus far this week has occurred exactly as I had anticipated. Would I be foolish to give up on this and outsmart my original idea so to speak. I don't want to play myself. When you stick around in the markets long enough, you begin to see things occur over and over again. Those who know, understand. It's not complicated though and it's actually pretty straightforward. When you mix an attachment to money in there, well no sh*t it is tied to our survival in the modern age. Well that's when things get complicated. Otherwise, I'm simply drawing lines and articulating what's unknown to me at this present time. I've done it long enough now to the point in which I am quite confident either way. Most of the time price bounces at my levels and so for the rest of time I will have the ability to create attractive Risk/Reward ideas. What a privilege. The difficult part is sticking around long enough to gain another perspective. I've seen many come and go and I feel lonely at times. I suppose that so long as I can draw my accurate level's/zones on the charts, the gods will have a place for me. Just as the gods do for all of us.
Long
by ShrewdCatfx
A 1 off Pump? Bitcoin Profit Taking -> ₿ BTC Bulls Investors - " We want a pump back to all time highs to earn money " Institutions/Insiders - 1) " We want pump as well to earn money, but we must wipe out investor accounts and create a reset in price. 2) " We will clear out the bull investor liquidity first. When there is blood in the streets, we may consequently re-stock our inventory of BTC and maybe we will pump to all time Highs" 3) " Or we will simply create a reset in price once again" There are a few types of fish. Stay 1 step ahead and plan your participation in the market. It may take a while to learn what works for you. But once you do, you can survive and grow you account ever-increasingly with a repeatable process in place. May gold line thy pocket with time and patience. Time and patience are the 2 greatest of warriors. Say no more. We may anticipate a retest of weekly support level 26,770 before a continued pump on bitcoin. Alot of players may be willing buy at these prices because of a fear of missing out. This could be the very reason why we will see a decrease in price. In the short term I am anticipating a return back into our Daily Timeframe range between 27,403 $ Resistance and 26,334$ Support
COINBASE:BTCUSDShort
by ShrewdCatfx
Key Levels are Magic 🪄 Create only the Best Risk/Reward Ideas!Someone recently asked me if the zones I draw on the chart is an indicator. This speaks to the amount of experience and level of competence that is easy to forget about. My ability to spot key level's and price areas on the chart is not something that is acquired overnight. It's a culmination of trial and error over the years and a loss of a significant amount of cash. It came at a large cost. The Latter is not necessary to understand the best key level's and price areas to trade off. Something that I recall over the years is the fact that I was never Self-Conscious about looking like a fool. We are all fools when we begin a new endeavor. I never hesitated to share my analysis with my mentors. Feedback can be quite painful but if you make it a habit, then it will return unto you by the tenfold. Take this zone (27,136$ ) which was our 4Hr Support zone. I Say "was" because there was once a time when the 4Hr timeframe respected it as a Support area on May 28th. It is now characterized as a 4Hr S/R Zone because we have seen multiple candles clearly close below it.. and it could, and I say could because there is no guarantee in the markets. It could act as a Resistance zone now and facilitate the distribution of orders as we continue our short term descent down to our next Key Level -- Weekly Level 26,770 $. If we arrive at the weekly level we will most likely have a reaction. A general rule of thumb to go by in the markets as a Price Action Trader - The Higher Timeframe the key level, the more probable it is that price will offer a good Risk/Reward trading idea off that level. The only guarantee is that there are good Risk - Reward Ideas and bad RR Ideas. So I might as well use my knowledge of the best price areas to create only the best Risk/Reward Ideas. For example, I will only trade off the 4Hr timeframe and Timeframes above that ( I have found this to be a good rule in the Forex market). I will only take trades that in which I Risk 1 to earn 3. In that way my win percentage may only be as good as 30%, yet after paying commissions/spreads to the intermediary, I earn a profit. It is important to note that the monthly candle is closing in 2.5 Hours. Th Monthly candle is closing bearish and this may cause volatile price swings as position traders and Institutions manage their trades. It seems that we have accumulated a significant amount of liquidity after the market was pushed up to 28.5K because look at the daily timeframe. The market didn't hesitate all that much to quickly drop back and retrace a majority of the gains. As we move into the next monthly candle, we may very well go to create a bottom wick first as the current monthly candle is closing bearish. This is reasonable argument. Idk what are your thoughts? Please comment below.
COINBASE:BTCUSDShort
by ShrewdCatfx
More Gas in the Tank? Eurusd 🌬️If we are trading with the trend then it would be wise of us to continue to look for short setups. However, Price has plunged to the downside plenty and it is reasonable to ask when will we see a correction. My thoughts are that we see a dip early in the week. Buyers eventually show up around our weekly level 1.06654 and we continue up for the rest of the week or consolidate after liquidating late shorts. The debt ceiling controversy may be used as an excuse to pump risk assets. It would also provide a nice opportunity for the dollar to pullback. Alot of talks about the dollar being over-extended may see a last and final burst to liquidate any dollar shorts at these level's. After that the dollar may then ease off the highs and pull down for the rest of the week. (Meanwhile EurUsd would go up) A double bottom looks like it may be forming on the 4Hr and so we may an increase on Eurusd sooner rather than later. Anything may happen and so we must follow the processes we have set in place to protect ourselves. Expect nothing from the market and it cannot dissapoint you. There is always another day to trade your setup as there is always another week to execute your strategy. Trading Talk: The way in which I execute my two setups during NY session are as follows. Setup 1: Outline the specific zone you would like to execute this setup. Set your alert(s) Setup 2: Pick your current bullish or bearish bias and write it on the chart. I only allow myself up to 15 Trades / Day But I will not lose more than the Percentage equivalent of 2 Losing trades. Beforehand my risk management strategy was only as good as my skill. But Sometimes to a fault. Now my risk management strategy is as good as my Preparation. And this will encourage only the higher quality setups. Have a good trading week.
Short
by ShrewdCatfx
2
Eurusd Longs " Where art thou ? " 🔭As Bank Holiday Trading comes to a close, we can observe another Bearish Daily candle. The Eur is weak through the holiday trading and the U.S dollar advance is yet to give in. The dollar index is a little bit better than B.E. on the day. For Eurusd : - Watch 1.07116 4Hr Support zone closely. A Strong 4Hr candle closure rejecting this level may send us quickly back up to 4Hr resistance Zone 1.074 and next we may retest our most recent Daily Level ( Daily S/R Zone 1.076 ) - A touch into our 1.0665 Weekly Zone In my opinion is very likely and will coincide with the 6 Red folder news releases we have this week. - We have alot of news this week and we must be aware during our trading - Bull targets for the week include 1.08125 Daily Resistance Level - Bear Targets for this week include a touch into 1.06245 Daily Support Level No trading today since it is a bank holiday. Less opportunity in a low volume market. At least when it comes to the parameters of my trading plan. Safe Trading.
Short
by ShrewdCatfx
Jobs Data 🏗️ / Weekly Level 1.06643 Eurusd Jobs Data was expected to ease over the prior period as the U.S. may have had a smaller amount of job opportunties for it's citizens during the month of May. It turns that the U.S. had more about 160,000 more job openings than was expected. So this is positive for a few reasons - Data was expected to ease over the prior period but we didn't ease and instead the U.S. gained job opportunities during May. - Data was better than expected by a significant margin when compared to previous job openings data releases. This is Optimistic for the U.S. Economy. The impact of the News on price action has initially gone down and dropped from our 4Hr S/R level at 1.07018 Moving Forward I anticipate consolidation or a retracement in price while we hold above 1.06643. If we continue our descent and USD news turns out to be strong enough, our next target is 1.06235. After that, and with NFP data on friday, we may continue to drop to 1.05435. I took a buy at our weekly level 1.0665 when price creased the initial low created during the first 1 minute of news. I have since been stopped out by a small margin before price retraced in my anticipated direction but would take the trade once more given the chance. Weekly Level's are quite strong area's on the chart. Stronger than Daily Level's! They Hold quite frequently as we can observe from the trading earlier in the day. 2 Hours after London open was when we initially tapped into 1.06643 Weekly Level. It coincided with the new 4Hr candle and explains why you can observe no bottom wick on the previous 4Hr candle. Big Players trading on the Higher timeframes are supporting a demand area here. As a scalper I have them to help with my intra-day activities.
by ShrewdCatfx
2
PLN/TRY Strong Buy Fundamentally the Poland economy is showing green signs to recover,while new crisis ae threathenning Turkish economy Technically A long solide series of Higher Highs and Highe Lows is giving a stong bullish picture The Bullish volume is creating more often while the short setups get quickly stopped by very low volumes. PLN boke aleady 20-50-76 and 193 Higher highs succesfully by veyy high volumes that indicates the beakouts have been valid. The strategy is trend. One possibilitiy is to buy the minor trends pullbacks in direction of the major trend
Long
by DaveBrascoFX
15 Key Principles for Trading SuccesHello fellow traders! I have compiled an article containing valuable insights and practical advice to help you navigate the trading world. Covering essential topics such as technical analysis, risk management, and adapting to market conditions, this resource is designed to enhance your trading skills. Dive in, learn, and apply these principles to your trading journey. Wishing you success and happy trading! 1. The Importance of Risk Management in Trading The key to successful trading lies in managing risks effectively. You need to have a solid plan to protect your capital and stay in the game. Some risk management strategies include using stop losses, limiting margin usage, diversifying your portfolio, and risking only a certain percentage of your portfolio on any given trade. Remember, the best traders know how to limit losses while maximizing profits. 2. Building a Solid Trading Plan Every successful trader has a well-thought-out trading plan that they follow religiously. This plan should include your trading goals, strategies, risk management, and entry and exit points. Crafting a solid trading plan helps you stay disciplined and focused, ensuring long-term profitability. 3. The Value of a Trading Mentor and Learning from Others Having an experienced trading mentor can significantly boost your trading performance. A good mentor can provide valuable insights, guidance, and constructive criticism, helping you refine your strategies and avoid common pitfalls. Also, don't hesitate to learn from other traders by subscribing to high-quality trading YouTube channels or participating in online forums. 4. A Comprehensive Education in Finance and Economics To conquer the financial markets, you need a strong foundation in the basics of finance, macroeconomics, and microeconomics. This knowledge will help you understand the driving forces behind market movements and make more informed decisions. Khan Academy offers excellent free courses in these subjects, and for technical analysis, consider reading "Technical Analysis of the Financial Markets" by John Murphy. 5. The Power of Charting and Technical Analysis Mastering charting and technical analysis is essential for making accurate market predictions. Spend time learning how to use your charting platform, like Trading View, and familiarize yourself with various indicators, tools, and strategies. Knowledge is power, and the more you know about your tools, the better your trading results will be. 6. Staying Humble and Detached in Trading Leave your ego at the door when it comes to trading. It's not about being right; it's about making money. Stay humble and unemotional, and don't let pride or personal attachments cloud your judgment. Remember, every trade has inherent risks, and past performance does not guarantee future success. 7. The Benefits of Keeping a Trading Journal Maintaining a trading journal helps you track your progress, learn from your mistakes, and refine your strategies. Record your insights, trading plans, and the outcomes of your trades. This practice will make you more disciplined and focused, ultimately improving your overall trading performance. 8. Avoiding Speculation and Emotional Trading Successful traders make decisions based on data and analysis, not speculation or emotion. Keep your feelings in check, and never enter or exit a trade based on fear, greed, or personal attachment. Stay objective and remember that data-driven decisions yield the best results. 9. Staying Informed and Recognizing Market Trends Pay close attention to market trends and financial news. Be aware of what's happening in the world, and use this information to inform your trading decisions. However, be cautious of hype and mania, as they often signal the peak of a trend, rather than its beginning. 10. The Art of Strategic Entry and Exit Points Before entering a trade, plan your entry point, stop loss, and profit target. Always ask yourself how much risk you're willing to take for a potential profit. By carefully considering these factors, you'll make more informed decisions and improve your overall trading success. With these principles in mind, you'll be well on your way to mastering the financial markets and achieving consistent profitability in your trading endeavors. Remember, the key to conquering the financial markets lies in continuous learning, discipline, and adaptability. Keep refining your strategies, stay informed about market trends, and always be prepared to adjust your approach as needed. 11. Adapting to Different Market Conditions Markets are ever-changing, and it's crucial for traders to adapt their strategies to suit different market conditions. Develop various strategies for both bull and bear markets, and be prepared to switch gears when the market demands it. Flexibility is the key to long-term trading success. 12. Utilizing Diversification for Risk Mitigation Diversification is an essential part of risk management. By spreading your investments across different assets, sectors, and even trading styles, you can reduce the impact of losses in any single area. This approach helps to protect your overall portfolio and ensures more consistent performance. 13. The Importance of Breaks and Mental Health Trading can be intense and emotionally draining. It's essential to take regular breaks and maintain a healthy work-life balance. By stepping away from the charts, you can recharge, gain perspective, and ultimately make better decisions when you return to trading. 14. Networking and Building Connections in the Trading Community Engaging with the trading community can provide valuable insights, ideas, and opportunities. Attend trading events, join online forums, or participate in social media groups to network with other traders. Sharing experiences and learning from others can greatly enhance your trading skills. 15. Constantly Improving and Evolving as a Trader Finally, never stop learning and evolving as a trader. The financial markets are constantly changing, and what works today may not work tomorrow. Stay curious, keep learning, and be open to new ideas and strategies. By embracing change and growth, you'll ensure long-lasting success in the trading world. In conclusion, conquering the financial markets requires a combination of solid education, discipline, adaptability, and a willingness to learn from others. By implementing these principles and continuously improving your skills, you'll be well-equipped to navigate the complex world of trading and achieve lasting success. So, roll up your sleeves, dive into the markets, and start your journey towards becoming a master trader.
SP:SPXEducation
by Julien_Eche
The Case for the Dow Jones Breaking the 30,000 levelThe latest US GDP growth was 2.7% for Q4 2022. Unemployment rate is 3.4% in January 2023. Annual inflation rate is 6.4% in January. Fed Fund Rates is 4.50%-4.75% and climbing. Manufacturing and Industrials are struggling, but not bad. Yearly retail sales minted at 6.4% in January. The Fed Rate Monitor is showing an increase for a 0.25% at a 74.50% probability and for a 0.50% at 25.5% probability. Next month, the US NFP will be released March 10th, along with the unemployment rate; March 14th is the Inflation Rate YoY; March 15th PPI MoM; and finally the FED Interest Rate Decision. This all looks good for the FED to keep raising rates and the question is, "how long can the DJ keep holding on above the 30,000. Yes the inflation data could potentially come out lower, but I am thinking that the FED thinks they have more room to raise rates and if it is true, that they are planning on raising rates a couple more times after the March Rate Decision, might be what is needed to start hammering the Dow Jones. I am thinking the inflation data before the meeting will push the thought of a 0.50% rate hike higher or lower, depending on what the printing looks like. I give it to the DJ, it is highly resistant and is managing to stay above the 30,000. But it is only a matter of time until it breaks lower.
FOREXCOM:US30Long
by DollarSaenz
Building Your First Trading Plan | Step By Step Guide 📖What is a trading plan? A trading plan is a comprehensive decision-making tool for your trading activity. It helps you decide what, when and how much to trade. A trading plan should be your own, personal plan – you could use someone else’s plan as an outline but remember that someone else’s attitude towards risk and available capital could be vastly different to yours. 📚Why do you need a trading plan? You need a trading plan because it can help you make logical trading decisions and define the parameters of your ideal trade. A good trading plan will help you to avoid making emotional decisions in the heat of the moment. ✳️TRADING PLAN CREATION STEPS: 1️⃣Outline your motivation Figuring out your motivation for trading and the time you’re willing to commit is an important step in creating your trading plan. Ask yourself why you want to become a trader and then write down what you want to achieve from trading. 2️⃣Decide how much time you can commit to trading Work out how much time you can commit to your trading activities. Can you trade while you’re at work, or do you have to manage your trades early in the mornings or late at night? If you want to make a lot of trades a day, you’ll need more time. If you’re going long on assets that will mature over a significant period of time – and plan to use stops, limits and alerts to manage your risk – you may not need many hours a day. It's also important to spend enough time preparing yourself for trading, which includes education, practising your strategies and analysing the markets. 3️⃣Define your goals Any trading goal shouldn’t just be a simple statement, it should be specific, measurable, attainable, relevant and time-bound (SMART). For example, ‘I want to increase the value of my entire portfolio by 15% in the next 12 months’. This goal is SMART because the figures are specific, you can measure your success, it’s attainable, it’s about trading, and there’s a time-frame attached to it.You should also decide what type of trader you are. Your trading style should be based on your personality, your attitude to risk, as well as the amount of time you’re willing to commit to trading. 4️⃣Choose a risk-reward ratio Before you start trading, work out how much risk you're prepared to take on – both for individual trades and your trading strategy as a whole. Deciding your risk limit is very important. Market prices are always changing and even the safest financial instruments carry some degree of risk. Some new traders prefer to take on a lower risk to test the waters, while some take on more risk in the hopes of making larger profits – this is completely up to you. It is possible to lose more times than you win and still be consistently profitable. It's all down to risk vs reward. 5️⃣Decide how much capital you have for trading Look at how much money you can afford to dedicate to trading. You should never risk more than you can afford to lose. Trading involves plenty of risk, and you could end up losing all your trading capital (or more, if you are a professional trader). Do the maths before you start and make sure you can afford the maximum potential loss on every trade. If you don't have enough trading capital to start right now, practise trading on a demo account until you do. 6️⃣Start a trading diary For a trading plan to work it needs to be backed up by a trading diary. You should use your trading diary to document your trades as this can help you find out what’s working and what isn’t.You don’t only have to include the technical details, such as the entry and exit points of the trade, but also the rationale behind your trading decisions and emotions. If you deviate from your plan, write down why you did it and what the outcome was. The more detail in your diary, the better. ❤️Please, support our work with like & comment!❤️ What do you want to learn in the next post?
TVC:GOLDEducation
by UnitedSignals
7
Will Silver be able to hit and break the 20 levelThe FED is increasing rates higher and higher and it is looking like they will increase rates past 5%. The next increase comes in March and it will either be 25 basis points or 50. A 50 basis point increase will definitely push Silver below the 20 level. Inflation is still high across all major countries and it is a battle between Central Banks fighting inflation and winning, but potentially pushing their economy into recession. Which one is more important. Fighting inflation, but pushing the economy into a recession or keeping inflation high and possible pushing a recession further out. But my plan is to get into Silver once price pushes lower. The lower the better. If price can hit 18 or lower, that would be a big opportunity to get in. I think Silver will break above the 50 lvl in 2025 as I keep thinking it is going to be a big year for all these new technologies coming out (Space, Robotics, AI, Medical, so on). Since the sentiment for the USD pushing higher is very strong, it is only inevitable for Silver to keep pushing lower. The lower it goes, maybe other countries, just like they have been doing with Gold, will start to buy it up in droves. But this is going to be around a two year play, maybe longer. So it is best to build up slowly and stay tuned for further developments in my plan.
FOREXCOM:XAGUSDLong
by DollarSaenz
1
MLFB. Can we get a Season this year or Is it all over?I've been in MLFB for a while, since around 2018/2019. MLFB attempted to establish a season in 2020/2021, but due to COVID, they were unable too. Here comes 2022, and things were looking good. They were bringing on players, coaches, bought equipment, named teams, hand a place for a camp, and had some coverage. Things again were looking good. Around June/July, the actual camp was commencing, and out of now where, MLFB could not pay their hotel bills and left players stranded. The season went out the window and the price of the stock tanked. Now in 2023, MLFB is attempting to start up a season. They were able to get about 5 million to pay bills from last year they owed and hopefully have enough to start a season. If this is the case, and they are able to start up again, will price be able to go higher? As time goes on, I'll see if price starts pushing to $0.01 and starts hitting its high of last year around $0.03. If there is some more press releases and actual broadcasting commencing, this will assist the stock pushing higher. There are some good things about MLFB, but they are not doing great in the PR department. But if MLFB can keep fighting to start a season and one actually commencing, there might be light at the end of the tunnel. I am in this stock, and this is only my thoughts. Make your own decisions and conduct your own research and analysis before deciding to get into any stocks. I'll revisit this later on and see what happens.
MLong
by DollarSaenz
Update on GBP/CAD utilizing FXCM chart instead of OandaI came across one of my GBP/CAD thoughts and and saw a pattern that was screaming at me. I don't think I saw the pattern on Oanda's charts because the data only goes back to 2003 on the Monthly Charts and on FXCM it goes back even further (1976). With his added data it is clear the price is showing an inverse head and shoulders, which adds to the probability of price pushing lower, maybe 1.40. So my conviction on this pair pushes even higher and I am highly likely going to get back into this pair with the NZD/USD. If I look at the technicals some more there are lower higher also that have happened. A high made in the 80's around 2.90, then another high in 98', around 2.67 (lower then the previous), and finally in sometime in 2015, around 2.10. A huge drop from 2.67. Price is also in a descending channel, which if price does push higher, can it really reach past the 2 lvl. Highly unlikely. Price since 2016 has attempted to push higher (which coincides with BREXIT) pushing above the 1.80 lvl in 2018, and retracing, and attempting to break the 1.80 lvl, only to fall back lower. Last year price came close to hitting 1.40 with the issues going on in the UK Government. If I am correct and price does push lower, the 1.40 will be a safe level to chose. Price could hit the 1.30 lvl. Another pair that is throwing me off though is the GBP/CHF. The pattern on the GBP/CHF is showing a strong descending wedge, which could spell out price pushing higher, and pretty significantly. The way I see this happening is if the BOE goes Super Sayian Blue Ultra Instinct and starts pushing rates up aggressively at 0.75% to 1% in succession. But this is highly unlikely as their economy walking a tight rope that has a cut in it. Additionally, it also might be a possibility if the BOE just keeps rates at 4%-5% throughout the possible recession. If so, this will line up with the BOE Governor saying that there may be the longest recession in history for the UK.
Short
by DollarSaenz
Bitcoin situation update and Trading PlanSo, in the previous idea of February 3 (I will attach), I assumed a correction in the block 21500-20800 as you can see, our scenario from this idea is perfectly implemented, for a better understanding, I strongly recommend reading this forecast and trading plan. Now to the current situation , I am now taking the side of an aggressive buyer and getting both alt and bitcoin as I was waiting for the price to come into this range . Moving on to the technical picture - we are in a strong support block , which was previously our resistance , these are the price values of $ 21500-20800 , I believe that now there is an additional accumulation of the asset with the goals of throwing into the block 28-30 k for bitcoin . IT is IMPORTANT to keep this support block as when anchoring below , the road to the next range is open . I have shown you an approximate version of the price movement , and also noted the main levels that you need to follow . If you make a trading decision about recruiting and following my proposed trading plan , then be sure to recruit partially and from the anchors , so that the recruitment process is easy for you psychologically . I 'll write a few more words about the viola , there are a lot of new , and most importantly , relevant setups for the viola set , so check it out - maybe look at something , I repeat , I 'm also starting to gradually dial the alt in this range , I 'm typing only the one that I gave in the channel . In general , I briefly described my action plan , if something is unclear , then ask in the comments . Good luck in trading .
Long
by UnknownUnicorn18582611
ICP Trading plan for those who are out of position / long setupSo , today I decided to share with you my trading plan for this coin , this is due to the fact that most likely now a lot of people have missed the growth and comfortable entry points for altos , and in the market as a whole , and there are probably such among my readers , too , so right now I will tell you the whole plan for recruiting positions with excellent medium - termgoals . Let 's start with the current situation , we have a clearly formed head and shoulders figure , its border is broken , which means it is confirmed . I believe that the price will continue its decline to the key support block of 5.2-4.9$, this decline fits perfectly into the structure of the market, it will demolish the stops on a similar decline in Bitcoin, thereby cooling the overheating. Why is the decline in this particular block ? This. the range is very strong and valid , and also confirmed by time , pay attention to how the price reacted in these price values . Now , after we have identified a block that is comfortable for a position set , we begin to gradually gain a position , in this range we gain 50% of the allocated amount and put a stop that I marked on the chart , the execution of this stop in my opinion breaks the ascending structure and shows weakness . In general, you scored 50% of the amount that you allocated for this transaction and set a stop, now it remains for us to observe and get a position according to the buyer's reaction (noted on the chart), IT is IMPORTANT to do this on a clear confirmation and fixing on local time intervals (4h), so you have carried out another set already with CONFIRMATION that on our market is extremely important . Congratulations, the main work is done, now we are just waiting for the full absorption of sales (falling) and already after the breakdown of $ 6.1 we add the final remaining amount to the position and hold it to our goals, after a bold breakdown and exit for $ 6.2, you can safely transfer the stop to no loss, it is important to note that your amount of addition should decrease, thatit would be hard not to shift your entry point . If you have any questions about the transaction , I will answer in the comments , write . There are also a lot of current setups on the channel . Good luck in trading
Long
by UnknownUnicorn18582611
4
📊HOW TO CREATE A TRADING PLAN📊 📖What is a trading plan? A trading plan is a comprehensive decision-making tool for your trading activity. It helps you decide what, when and how much to trade. A trading plan should be your own, personal plan – you could use someone else’s plan as an outline but remember that someone else’s attitude towards risk and available capital could be vastly different to yours. 📚Why do you need a trading plan? You need a trading plan because it can help you make logical trading decisions and define the parameters of your ideal trade. A good trading plan will help you to avoid making emotional decisions in the heat of the moment. ✳️TRADING PLAN CREATION STEPS: 1️⃣Outline your motivation Figuring out your motivation for trading and the time you’re willing to commit is an important step in creating your trading plan. Ask yourself why you want to become a trader and then write down what you want to achieve from trading. 2️⃣Decide how much time you can commit to trading Work out how much time you can commit to your trading activities. Can you trade while you’re at work, or do you have to manage your trades early in the mornings or late at night? If you want to make a lot of trades a day, you’ll need more time. If you’re going long on assets that will mature over a significant period of time – and plan to use stops, limits and alerts to manage your risk – you may not need many hours a day. It's also important to spend enough time preparing yourself for trading, which includes education, practising your strategies and analysing the markets. 3️⃣Define your goals Any trading goal shouldn’t just be a simple statement, it should be specific, measurable, attainable, relevant and time-bound (SMART). For example, ‘I want to increase the value of my entire portfolio by 15% in the next 12 months’. This goal is SMART because the figures are specific, you can measure your success, it’s attainable, it’s about trading, and there’s a time-frame attached to it.You should also decide what type of trader you are. Your trading style should be based on your personality, your attitude to risk, as well as the amount of time you’re willing to commit to trading. 4️⃣Choose a risk-reward ratio Before you start trading, work out how much risk you're prepared to take on – both for individual trades and your trading strategy as a whole. Deciding your risk limit is very important. Market prices are always changing and even the safest financial instruments carry some degree of risk. Some new traders prefer to take on a lower risk to test the waters, while some take on more risk in the hopes of making larger profits – this is completely up to you. It is possible to lose more times than you win and still be consistently profitable. It's all down to risk vs reward. 5️⃣Decide how much capital you have for trading Look at how much money you can afford to dedicate to trading. You should never risk more than you can afford to lose. Trading involves plenty of risk, and you could end up losing all your trading capital (or more, if you are a professional trader). Do the maths before you start and make sure you can afford the maximum potential loss on every trade. If you don't have enough trading capital to start right now, practise trading on a demo account until you do. 6️⃣Start a trading diary For a trading plan to work it needs to be backed up by a trading diary. You should use your trading diary to document your trades as this can help you find out what’s working and what isn’t.You don’t only have to include the technical details, such as the entry and exit points of the trade, but also the rationale behind your trading decisions and emotions. If you deviate from your plan, write down why you did it and what the outcome was. The more detail in your diary, the better. I Hope you guys learned something new today✅ Wish you all Best Of Luck👍 😇And may the odds be always in your favor😇 Do you like this post? Do you want more articles like that?
Education
by ProSignalsFx
4
Overcome Fear of Missing Out 🤮MAIN TALKING POINTS: What is FOMO in trading? What characterises a FOMO Trader? Factors that can Trigger FOMO DailyFX analysts share their FOMO experiences Tips to overcome FOMO WHAT IS FOMO IN TRADING? FOMO in trading is the Fear of Missing Out on a big opportunity in the markets and is a common issue many traders will experience during their careers. FOMO can affect everyone, from new traders with retail accounts through to professional forex traders. In the modern age of social media, which gives us unprecedented access to the lives of others, FOMO is a common phenomenon. It stems from the feeling that other traders are more successful, and it can cause overly high expectations, a lack of long-term perspective, overconfidence/too little confidence and an unwillingness to wait. Emotions are often a key driving force behind FOMO. If left unchecked, they can lead traders to neglect trading plans and exceed comfortable levels of risk. Common emotions in trading that can feed into FOMO include: Greed Fear Excitement Jealousy Impatience Anxiety WHAT CHARACTERIZES A FOMO TRADER? Traders who act on FOMO will likely share similar traits and be driven by a particular set of assumptions. WHAT FACTORS CAN TRIGGER FOMO TRADING? FOMO is an internal feeling, but one that can be caused by a range of situations. Some of the external factors that could lead to a trader experiencing FOMO are: Volatile markets. FOMO isn’t limited to bullish markets where people want to hop on a trend – it can creep into our psyche when there is market movement in any direction. No trader wants to miss out on a good opportunity Big winning streaks. Buoyed up by recent wins, it is easy to spot new opportunities and get caught up in them. And it’s fine, because everyone else is doing it, right? Unfortunately, winning streaks don’t last forever Repetitive losses. Traders can end up in a vicious cycle: entering a position, getting scared, closing out, then re-entering another trade as anxiety and disappointment arise about not holding out. This can eventually lead to bigger losses News and rumours. Hearing a rumour circulating can heighten the feeling of being left out –traders might feel like they’re out of the loop Social media, especially financial Twitter (#FinTwit). The mix of social media and trading can be toxic when it looks like everyone is winning trades. It’s important not to take social media content at face value, and to take the time to research influencers and evaluate posts. We recommend using the FinTwit hashtag for inspiration, not as a definitive planning tool. As well as affecting traders on an individual level, FOMO can have a direct bearing upon the markets. Moving markets might be emotionally driven – traders look for opportunities and seek out entry points as they perceive a new trend to be forming. DAILYFX ANALYSTS SHARE THEIR FOMO EXPERIENCES Traders of all levels of experience have dealt with FOMO, including our DailyFX analysts: “Trade according to your strategy, not your feelings” – Peter Hanks, Junior Analyst “Strategize. Execute. Stick to the plan and don’t be greedy. All types of traders make money; pigs get slaughtered” – Christopher Vecchio, Senior Strategist “Trade decisions are not binary, long vs. short. Sometimes doing nothing is the best trade you can make” - IIya Spivak, Senior Currency Strategist “If you don’t deal with and temper FOMO in trading – it will deal with you” – James Stanley, Technical Strategist “No one trade should make or break you. With that said, if you miss an opportunity there is always another one around the corner” – Paul Robinson, Currency Strategist TIPS TO OVERCOME FOMO Overcoming FOMO begins with greater self-awareness, and understanding the importance of discipline and risk management in trading. While there is no simple solution to preventing emotions from impacting trades and stopping FOMO in its tracks, there are various techniques that can help traders make informed decisions and trade more effectively. Here are some tips and reminders to help manage the fear factor: There will always be another trade. Trading opportunities are like buses – another one will always come along. This might not be immediate, but the right opportunities are worth the wait. Everyone is in the same position. Recognising this is a breakthrough moment for many traders, making the FOMO less intense. Join a DailyFX webinar and share experiences with other traders – this can be a useful first step in understanding and improving trading psychology. Stick to a trading plan. Every trader should know their strategy, create a trading plan, then stick to it. This is the way to achieve long-term success Taking the emotion out of trading is key. Learn to put emotions aside – a trading plan will help with this, improving trading confidence. Traders should only ever use capital they can afford to lose. They can also use a stop to minimise losses if the market moves unexpectedly. Knowing the markets is essential. Traders should conduct their own analysis and use this to inform trades, taking all information on board to be aware of every possible outcome. FOMO isn’t easily forgotten, but it can be controlled. The right strategies and approaches ensure traders can rise above FOMO. Keeping a trading journal helps with planning. It’s no coincidence that the most successful traders use a journal, drawing on personal experience to help them plan. Overcoming FOMO doesn’t happen overnight; it’s an ongoing process. This article has provided a good starting point, highlighting the importance of trading psychology and managing emotions to prevent FOMO from affecting decisions when placing a trade. TURN YOUR FOMO INTO JOMO Now you know how to spot and stop FOMO in its tracks, find out how to embrace JOMO in trading and change your mindset for greater success. Source: DailyFX
OANDA:XAUUSDEducation
by Hsan_BenAhmed
2
TRADING - TRUTH VS LIE 📉📈 A financial background can be useful for understanding how forex and other markets work. However, more beneficial are skills in math, engineering and hard sciences, which better prepare traders for analyzing and acting on economic factors and chart patterns. It doesn’t matter how much awareness you have about financial markets – if you can’t process new data quickly, methodically and in a focused manner, those same markets you thought you knew so well can eat you alive. ANSWER: LIE EXPERT TIP: To prepare for trading, focus on developing analytical skills rather than boning up on financial knowledge. Trading is like running a business. In order to be successful, you need to learn from mistakes and have rules in place to help protect your capital. Like a business, it’s crucial to have appropriate strategies on hand for varying market conditions. Setting up a business is easy, and similarly, trading is easy too. Developing successful strategies and making money? That’s the hard part. ANSWER: TRUTH EXPERT TIP: It will seem easy if your early trades go well, but long-term profitability is a different matter altogether. Make your life easier by researching your trades, using the right position size, setting stops and keeping a handle on your emotions. Can you be successful with a small trading account? It depends on your definition of successful. An account needs to be large enough to accommodate proper risk parameters. But success is relative; a high rate of return is based on percentages and not on monetary amounts. For example, a 20% return is a 20% return regardless of the account size. However, if your 20% return isn’t worth enough in hard cash, it might be hard to incentivize yourself to improve as a trader. ANSWER: IT DEPENDS EXPERT TIP: Your account size will depend on your goals and your prior success. Naturally, experienced traders will have a larger account but to begin with, concentrate on that rate of return percentage. Bragging rights be damned: the number of trades you win is irrelevant. Profitable traders simply make more money than they lose. Say you win five trades and make $5,000, but lose one trade and lose $6,000 – you have won more trades than you have lost but are still down overall. Profitable traders will set rigid risk-reward parameters for a trade – for example they might risk $500 to make $1,000, a risk-reward ratio of 1:2. If a trader makes five trades using this method, loses three of them and wins two of them, the trader is still $500 in profit ($2,000 profit-$1,500 loss). Don’t be afraid of taking a few hits: if your process is sound, one big winning trade can reverse your fortunes. ANSWER: LIE EXPERT TIP: Many successful traders will be losing more trades than they win, but oftentimes it won’t bother them. Focus on getting the right setups rather than worrying about the ones that got away. How much time you spend trading, and monitoring trades, will depend on your trading style. Those employing a scalping strategy, for instance, will make a large number of transactions per day, entering and exiting many positions, and will need to pay close attention to their trades on the shortest timeframes. However, position traders won’t need to spend as much time monitoring, as their transactions may last weeks, months or even longer – meaning long-term analysis will account for short-term fluctuations. ANSWER: IT DEPENDS EXPERT TIP: Ask yourself what type of trader you are. Shorter timeframes will mean monitoring and analyzing constantly – being ‘always on’. If you favor a more relaxed approach you may be suited better for position trading. Some traders advocate a ‘mental stop loss’ when the market gets tough – that is, relying on oneself rather than a computer to set a level at which to exit a losing position. The problem is, a ‘mental stop loss’ is just a number that makes you worried about the money you’re losing. You may fret about the direction of the market - but you won’t necessarily be compelled to exit your trade. A fixed forex stop loss is completely different – if your stop loss price trades you are out of the position, no ifs or buts. Exercising proper money and risk management means setting solid stops. Period. Answer: TRUTH EXPERT TIP: It can be so easy to neglect your stop loss. When a trade is going your way, the dollar signs can blind you - but you should protect yourself against the market turning. Spreads may represent the primary cost of trading, but they aren’t the be-all-end-all when it comes to choosing your market. You may find an asset that has a wide spread but represents a strong opportunity due to its volatility. Similarly, you may find an asset with high liquidity and a tight spread, but that isn’t showing much trading potential. Above all, you should let your trading decisions be governed by setups presented by the market, not the size of the spread. Answer: LIE EXPERT TIP: The spread can represent a significant cost to traders – but don’t let it be the sole factor dictating your choice of asset. The economic analysis key to a fundamental approach helps give traders a broader view of the market. Sound knowledge of the underlying forces of the economy, industries and even individual companies can enable a trader to forecast future prices and developments. This is different to technical analysis, which helps to identify key price levels and historical patterns, and provides conviction for entering/exiting a trade. It’s true to say that expertise in economic analysis is important. However, so too is expertise in the technicals. Many successful traders will look to combine fundamental and technical analysis so as to be in a position to draw on as wide a range of data as possible. Answer: TRUTH EXPERT TIP: It may be worthwhile to devise a strategy accounting for the nuances of both technical and fundamental analysis. News can create big moves in the market, but that doesn’t mean trading the news leads to the biggest opportunities. For a start, the volatility of important news events often makes spreads wider, in turn increasing trading costs and hitting your bottom line. Slippage, or when you get filled at a different price than you intended, can also hit your profitability in volatile markets. On top of these drawbacks, traders could get locked out, making them helpless to correct a trade that moves against them. ANSWER: LIE EXPERT TIP: ‘Trading the news’ can seem like a fashionable thing to do, but market movements can be unpredictable at the time of major releases. It’s often best to steer clear during such high volatility. Excluding emotions from trading is an impossible endeavor. It can lead to more internal conflict than benefits, which is why managing emotions is a better way of looking at it. You have negative emotions like fear and greed that need to be managed without suppressing positive ones like conviction that help drive you towards the best opportunities. Answer: TRUTH EXPERT TIP: Even the most experienced traders feel emotion in the heat of the markets, but how they harness that emotion makes all the difference. Source: DailyFX
OANDA:XAUUSDEducation
by Hsan_BenAhmed
2