The Rising Wedge (also known as the ascending wedge) pattern is a powerful consolidation price pattern formed when price is bound between two rising trend lines. It is considered a bearish chart formation which can indicate both reversal and continuation patterns – depending on location and trend bias. Regardless of where the rising wedge appears, traders should...
Introduction to Algorithmic trading An educational thread/post about Algo trading – what you won’t learn anywhere else. 1 year ago, I started bot trading and coding TV algos in Pinescript. My goal has been the same since the beginning: find a way to have a bot that trades automatically for me, day in and day out, whether the market goes up, down or ranges. This,...
There are a number of reversal patterns that playout time and time again. The most reliable of the reversal patterns is the "Head & Shoulders" top and bottom. Some technicians don't like to use the term head & shoulders as it's used quite a bit and not all reversal patterns are confirmed and end end up being consolidation patterns instead. Whatever you like to...
Hello, I am a dummy, so often it takes a long time for things to sink into my thick skull. Loss of money (or failure to make mony) is often where I learn the best. Instead of learning from my mistakes I enjoy repeating them many times...just to make sure. Anyway there are four important points in common price action (FOR TRADERS), and they have acronyms:...
I am a beginner in trading market so I want to learn and practice how charts work....
This is my observation compared to the School chart article: As the name implies, the Bump and Run Reversal (BARR) is a reversal pattern that forms after excessive speculation drives prices up too far, too fast. Developed by Thomas Bulkowski. Bulkowski identified three main phases to the pattern: lead-in, bump and run. Lead-in Phase: The first part of the...
Hello every one 🟡WHAT IS A FALLING WEDGE PATTERN? The falling wedge pattern is a continuation pattern formed when price bounces between two downward sloping, converging trendlines. It is considered a bullish chart formation but can indicate both reversal and continuation patterns – depending on where it appears in the trend. 🌳HOW TO IDENTIFY A FALLING WEDGE...
Hello Traders! As you can see this is a simple method of trading short term and long term. If you study this on your charts on the daily you will see how many setups are offered to you the trader. As you get better you can also find these setups on the Weekly and Monthly. Do not ever say I did not tell you about this trading method.
Hello traders! This is a detailed and most importantly a correct analysis of the previous pump and dump. There is always a reason behind everything and there is also a reason behind this whole formation. There is a complete cycle that forms before this formation and this formation is a reaction of that cycle. Let's talk about this formation After a deep...
What is a Symmetrical Triangle? Triangle patterns are probably the most popular chart patterns studied by traders. There are three different types of triangles: The ascending triangle, the descending triangle, and the symmetrical triangle. Symmetrical triangles occur when price is consolidating in a way that generates two converging trend lines with similar...
This is an educational post on Elliott Impulse Wave structures, and how the theory can be applied to Bitcoin's chart, in order for us to identify the overall market trend. Disclaimer: This is not investment advice. This is for educational and entertainment purposes only. I am not responsible for the profits or loss generated from your investments. Trade and...
Now that it looks like that blip on the radar is behind us on CME_MINI:ES1! and AMEX:SPY , I wanted to take some time to go over a couple of things I look at to gain confidence that the end of the dump is near whenever these drops happen. These are purely price-action and volume related, no fancy indicators or anything involved (thought I do use other things in...
What is a rising wedge? A rising wedge is a technical pattern, suggesting a reversal in the trend . This pattern shows up in charts when the price moves upward with higher highs and lower lows converging toward a single point known as the apex. There are 4 ways to trade wedges like shown on the chart (1) Your entry point when the price breaks the lower bound...
Hello Traders! Here I briefly show what we as traders should be looking for when in buying or selling conditions. Banks Buy in a Discount and Sell in a Premium. I do understand people do draw their fibs wick to wick. However I prefer body to body because that is the truest price action. Everyone charts are going to have disparities because of broker spread....
Hello Traders! This video explains how these markets move on a week to week basis and day to day basis. SUNDAY OPENING PRICE is something every trader should keep on their charts. It will help fine tune which side of the market you should be on when bullish or bearish. I give 4 examples, 2 bullish and 2 bearish. All example shown are also from the same...
Hello Traders! Here is another example of the Asian Session Sweeping equal lows within the late N.Y session or what I call the New York Lunch 12pm - 8pm. We were looking for the DXY to make the high of the week on Mon. Tue. or Wed. and we did get that. Which means we were bearish on the Dollar. (Check recent post of my DXY mark up for proof) When trading...
✅This pattern is not as popular among traders as "Head and Shoulders", "Double Top" and other classic patterns of technical analysis. However, this does not mean that it is not so effective. In fact, the "Cup & Handle" pattern is in no way inferior to the above patterns in its reliability and, if used correctly, can bring considerable benefits to the...
Hello Traders! Here I speak on how I typically mark up all my charts. 1. I always use IPDA look back data ranges on the 1st of every month 2. I Mark off the highs and lows within the look back ranges as those level will be important 3. Mark off our most recent trading range and find equilibrium 4. I look for PD arrays above and below price (i.e., Order...