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Candlestick Analysis

EURUSD Long Idea After a nice expansion to the downside last week we have seen a pause near 1.0950 which I this is the next stop prior to lower prices long term. For now we have seen a pause from Friday all the way to this week Tuesday. Tuesday after CME open we see a minor expansion to the upside and a consolidation which lasted all the way to 3pm where we then saw an expansion which left an imbalance on the hourly chart. I am interested on a further expansion after midnight NY to the upside to take out buyside liquidity above Monday's high before another weekly expansion leg to the downside.
Long
by FranckIlunga
Backtesting GBPNZD WB 07/24Order Block Strategy Overview: The order block strategy is based on identifying key levels in the price chart. Order blocks are essentially areas on the chart where institutional traders placed significant buy or sell orders. These orders can create strong levels, which are relevant to other market participants. The strategy aims to capitalize on potential market reactions when the price returns to these order block areas. Step-by-Step Guide to Trading with Order Blocks: Step 1: Identify Order Blocks Begin by analyzing the price chart of the asset you want to trade. Look for areas where the price has shown a significant change in direction, forming clear swing highs or lows. These swing highs and lows may represent potential order blocks where institutional traders executed large orders. Step 2: Confirm Order Blocks To validate an order block, look for a price move that shows a strong impulse (sharp price movement) followed by a consolidation or a pullback. The consolidation or pullback phase indicates the potential presence of buy or sell orders, confirming the order block's relevance. Step 3: Draw Levels Once you've identified the order blocks, draw horizontal lines to mark the levels created by them. These levels act as areas of interest for potential future trades. Step 4: Analyze Price Action Observe how the price behaves around the identified levels. Look for signs of price rejection (pin bars, doji candles, or engulfing patterns) that indicate the market's reluctance to move past those levels. Step 5: Plan Your Trade If the price approaches a bullish level, consider going long (buying) if you observe bullish price action, suggesting a potential bounce from that level. If the price approaches a bearish level, consider going short (selling) if you observe bearish price action, indicating a potential reversal from that level. Step 6: Set Stop-Loss and Take-Profit Levels Always use proper risk management to protect your capital in case the market moves against your position. Set a take-profit order at a reasonable target level based on your analysis. This could be the next level. Remember: The order block strategy is not foolproof and carries risks like any other trading approach. Always practice proper risk management to protect your capital from significant losses. Never trade with money you cannot afford to lose. It's important to conduct further research and practice trading with order blocks on historical price data or in a demo trading account before implementing this strategy in live markets. Additionally, consider combining order block analysis with other technical or fundamental indicators to increase the robustness of your trading decisions.
Education
by RayPerezEmpire
What can BTC price tell us about BLACKROCK etf chances ?News of blackrock and traditional finance filings for bitcoin have been taken as if they'll be a simple clean process to success. Perhaps it will be smooth sailing. I do think theres a decent chance for it to be a rockier road than many are currently thinking. This gives time for the process to influence btc and crypto prices in the meantime. Should a roadblock be hit it seems likely that it will cause pressure to the downside. Personally I do not think this is the worse thing. Maybe even a good thing. There is a large range open to price now (roughly 15k to 60k us$). Holders and traders alike need to be prepared for movements within this range as there is plenty of time till halving. As always will keep an eye out for emerging news // information // data. Thanks for reading and give us a like and follow for future posts. GeorgeOnTv
by SoftQuant
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