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Algo

Candles continued.So here I am following on from the previous post, we have moved to the 4H chart, and I have taken a deeper delve into how to filter the candles out to find optimal ones, and look here, all the Bullish engulfing under the moving average... very poor performance, but the Bearish engulfing that is rejecting the moving average, remember previous post we talked about what price is attempting on pullbacks to the moving average? also has an orderblock rejecting as the moving average is down, remember what that tells us?? I will post the links to them under this post so you can go back over it. The Bollinger band squeezed just before aswell before the expansion. What to take away... Patience and optimisation! make the rules to your system click! do not react to every candle, find where price has action!
Education
by ZenFlo
CandlesPrice action is a very good way to trade, it produces clean and clear charts, but the clue is in the name... 'Price action' if I made a bot to literally enter every single time a bullish or bearish engulfing appeared Id be broke very fast! this is because these candles by themselves are not as a effective as when used in conjunction with trendlines, moving averages, and supply and demand zones. So remember if using candle analysis be sure to use it with other confirmations to find the best trades... I personally recommend a Volume profile! this is a great tool designed to show orders... Dont you agree that using 'Price' action on areas where price is transacting makes sense? Volume profile measures the orders, and the candles tell you the action. Just a quick and simple post to make you think!
Education
by ZenFlo
Average True Range... and BollingersATR is a great indicator designed to show you the previous ranges of the previous candles depending on the value chosen, in this example I have done 6 periods, so you can see in this chart I have highlighted when we have peaks and troughs and one thing to do is compare the times of day this activity happens, you can see at certain times the atr climbs, it stalls at others or can fall, so ATR is showing us previous candles range, so if you are in a trade you want the range to be growing usually so that your trade can head to TP, but the important thing to takeaway is the fact that price is moving alot, this is because it is experiencing higher level of trading activity price is trending, where as a falling ATR reading means typically things are slowing down or accumulating, remember this doensnt give direction though as price can still move up or down despite a falling range per candle. However what it can do is tell you good times to look for trades, you can filter down by time the best time to take trades based on your strategy winning or losing in the peaks of troughs. ATR can also be used to determine stop losses of TP, by taking the the reading and using a 2xreading stop loss or TP, the more volatile the market the bigger your stop losses and tp will be, but more volatility generally correlates well with that idea, not only does it offer greater protection it also prevents missing out on good moves. So 2nd part is Bollinger bands we can see how it works, it basically again is telling you the range of things, so Id like you to compare the reading on ATR to the Bollingers, and you can see when ATR falls and the Bollingers are squeezing tight we have very little to trade, energy is low and range is small, In crypto I have heard this term called the crab which I have to say... I do find quite amusing. When ATR is rising the Bollingers expand creating a wide cloud, so on the last box, where price falls despite ATR falling... what is the difference this time? That is right, Bollingers are not squeezed together, which tells us the ATR reading is acting like it is small and stuck in a squeezing formation but in fact we are just in an expansion of the Bollinger moving slowly. What do I want you to take away from this? Just a deeper thought about which market conditions are best for your strategy and how to avoid times which will not really offer a good trade yet ect, and have a look for patterns in how you trade around these volatility indicators! Happy trading... More to come
Education
by ZenFlo
What is a moving average and do they work?Moving average is an average of price closes over a certain amount of time, so at a base level they rise when price rises and fall when price falls, so why are they important? Because they give you a sense of the average direction of price over a certain amount of time, if you take the chart at face value you are not even witnessing one price close at that specific moment in time! unless you are then well done you lol, so the moving average is giving us data of maybe 89 or 50 or 200 ect, this overall analysis of the trend can defiantly aid your decision making, for example if you use two moving averages like the ma8 and ma89, what we can look at is the moving average MA8 reverting back to test the baseline which is the MA89 in this example, so price is now attempting to some extent to change trend, if it breaks lower than the baseline the line will start falling! MA89 will start declining as negative closes come in and alter the formula, that is why these areas can offer great buying opportunities or selling depending which side of the baseline you are, Price will test the baseline and bounce in strong trends before price will eventually break the baseline down the line. I will follow this post up with a post on moving averages being used on indicators now we have the first bit out the way.
Education
by ZenFlo
6
How to generate more profitsTrading requires entries similar to how a computer would enter positions, what I mean by this is entries should be so disciplined it hurts, when you are sitting there bored in the early hours of the morning and you take sloppy trades this has an effect on your results! you should create enough discipline to be able to trade a specific time frame when your entry and exit system provides better returns. Adding rules for confirmation will also lead to better entries, things such as a Baseline, what this will do is create a layer of the bike lock, now you never take buys below the baselines, meaning you no longer take reversals, your winrate will improve and your profits improve. For GBPUSD it is wise to trade over the London session and you can see just how much the pair moved over this session, your trades have a better chance at delivering profits in this zone. You may find your strategy works well in other timezones, and I suggest following the path, dont be restricted if it works elsewhere, but get some good backtest results.
Education
by ZenFlo
ALGO/USDT - Potential Short ScenarioHello Traders! ALGO price continues to move within the descending trend completing the previous market cycle. The culmination of the falling phase will be an aggressive downward exit of the price under the support level of $0.25 Medium-term purchases can be considered at $0.1440 - $0.1900. The targets of such purchases will be price levels of $0.25 and $0.36 Good luck and watch out for the market P.S. This is an educational analysis that shall not be considered financial advice
COINBASE:ALGOUSDShort
by UnknownUnicorn10064030
1
$BTC RSI is beautiful right now, let's see if the same happen?$BTC RSI is beautiful right now, let's see if the same happen? You can see at the last cycle, it broke the RSI downtrend and slowly played around for a few weeks, then back up. To me, because this current drop is so slow, because we are so oversold, and because other major indicators are showing a sign of reversal within the next month or so, we are close to the bottom. Of course, anything can happen, but I think that $20,000 BTC will be held and protected. ANYTHING CAN HAPPEN DCA your position.
COINBASE:BTCUSD
by Maddrix_club
Algo.Algo saw a clean 5 wave impulse which had begun back in march of 2020. The impulse was completed in November of 2021. Since that top, Algo has put in what looks to be a zig-zag (labeled a-b-c). -it has retraced roughly 61.80% of the entire bull run. -quadruple bullish divergence on the daily time-frame is present (very rare). -indicative that this dip could potentially be a wave (2). if i'm right about all of these alts being in a 1-2, then we are in for a ride into the skies. --- things definitely don't look too good in the world right now, the economic crisis which is happening right now would be the single biggest argument against what i'm portraying here. the only way this scenario could play out, is if something drastic changed in the world in the near future. --- i will continue to entertain the idea that these could indeed be 1-2's, but i'm also going to approach this very conservatively and with extreme care \ caution; making sure to use proper risk management if i ever was to play any of these. nothing in this market is certain, in fact, it's all extremely uncertain right now; and there is an infinite amount of possibilities which could potentially be at play. this is merely the bull case, nothing more. there is also a very probable bear case, so you gotta be very careful. don't be attached to either side, just let the market show you what it wants to do, then simply go with the flow. --- Best of luck!
by notoriousbids
$ALGO at key levelThe point of control level is $0.3005 very significant. Dating back to Algorand 's inception, this has been a key level of resistance/support. ALGO stopped nearly to the penny on the volume shelf at the bottom and bounced off it multiple times. Previously it was resistance, now it seems to have become support. ALGO seems to be running out of sellers. Soon the bulls will take control. Targeting the $0.5380 level which would be a 50% return and the VWAP from the most recent high at $1.0172 would be a nearly 200% gain. Algorand is green, efficient, and has extremely low gas fees (I believe it's $.001 please correct me if I'm mistaken).
COINBASE:ALGOUSDLong
by EBITDAtiger
2
💡Don't miss the great buy opportunity in ALGOUSD  Trading suggestion: ". There is a possibility of temporary retracement to the suggested support line (0.6418). . if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . ALGOUSD is in a range bound, and the beginning of an uptrend is expected. . The price is above the 21-Day WEMA, which acts as a dynamic support. . The RSI is at 65. Take Profits: TP1= @ 0.7444 TP2= @ 0.7727 TP3= @ 0.8096 TP4= @ 0.8968 TP5= @ 0.9881 SL= Break below S2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex / Crypto trader ? Now, It's your turn ! Be sure to leave a comment; let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Long
by ForecastCity
4