Price is currently in a strong supply zone in the 4h time frame. If the price falls and surpasses the first CHOCH position, gold will continue to fall again. If gold continues to rise and breaks the Swinghigh creating a BOS signal, a strong Swinglow bottom will be created.
I just upgraded my Trading View account to Premium so I could get access to the premium chart patterns. I did this over Black Friday so I think it costed a $1 more per month with their deal and they gave me 13 months for the year. This video goes over the some of the automatic chart patterns and candle indicators that Trading View provides. I think it could be...
The market moves in two phases; Impulse and Correction. Impulse is composed of a strong bullish or bearish momentum while Correction is composed of a sideways move, which is always a serious consolidation. Trades are taken at the break of the correction
In the bustling realm of Forex, a single minute carries an abundance of activity, steering markets through rapid fluctuations and intricate maneuvers. Understanding the flurry of events that unfold within this brief window is pivotal for traders aiming to capitalize on these micro-movements. This article provides an insightful exploration into the dynamics of a...
Here's a weekend update on both Bitcoin and the prop firm trading.
RSI, as conventionally understood, does not oscillate between 70-30. This idea explains the RSI behaviour during bull market phase. Stay tuned for similar idea explaining RSI behaviour during bear market phase.
Copy this exactly onto your tradingview because its what i have to help you setup trading
From the experience I have in trading I have identified 3 pillars on which my success is based. I can't say that one is less important than another, so I try to combine all of them: 1) Psychology - is one of the most difficult aspects to master, which requires a lot of theoretical and practical knowledge, so I recommend first of all to study yourself, after you...
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I always ask myself: What's my favorite chart pattern for finding high probability entries? I look at my stats, I look at my various strategies, and I always find I like one type of trade best: Trend Continuation trades using double tops for shorts and double bottoms for longs. The strategy is simple: Using 1 hour wickless bars, (I'll show you how in the...
I'm here to simplify your approach, offering clarity to decipher market movements. Let's demystify multiple timeframe analysis and pave the way for a more straightforward and effective trading journey. Subscribe now, hit the like button, and let's embark on this knowledge-packed exploration!
Inducement is the most popular phenomenon in the smart money concept, but most traders don't know how to label it properly and what its definition is. This post will definitely improve your ability to pinpoint the exact location of the inducement and how to use that inducement to your advantage. What is Inducement? Inducement is labeled IND on the chart,...
Anchoring bias is a psychological trap that subtly influences decision-making in forex and gold trading. This cognitive bias anchors traders to specific reference points, hindering rational analysis and leading to skewed perceptions. In this article, we'll explore the pervasive impact of anchoring bias in trading, shedding light on its effects and strategies to...
The Relative Strength Index (RSI) is a momentum indicator that measures the speed and magnitude of price movements. It is a versatile tool that can be used to identify overbought and oversold conditions, as well as divergences and trend strength. Overbought and Oversold Conditions The RSI oscillates between 0 and 100. Traditionally, the RSI is considered...
Here are some insights I've gathered over the years of trading experience 1. Position Sizing: A common issue for traders stems from taking positions that are too large. Emotional decision-making often takes over when you see your account balance decreasing. I've observed traders exiting trades prematurely to free up capital for what they perceive as a 'better...
Introduction In the world of trading, we often hear about harmonic patterns. These are very special tools in the trader's toolkit. They are complex but very important. In this article, we look into these patterns, how traders use them, and why they are crucial. Understanding Harmonic Patterns Harmonic patterns are part of technical analysis in trading. They...
Divergent trading is when you compare the movement of a currency pair to the movement of a related indicator. We can see price is making new highs but our volume flow (Moving average) is making lower highs. Consider this a potential reduction in price to come.
☝️Dear traders, no one here has superpowers, and I'm as well just a human. Please take everything with a degree of doubt and critique. I'm just sharing my view and one of the possible scenarios of price action. When I enter I try to predict as little as possible and actually follow what the market is doing, joining the market and not arguing with it or forcing my...