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Candles

How I Treat Candle Opens/Closes and Their SignificanceIn my view, there is nothing fundamentally important about a candle closing above or below a certain price. Yet, I still regularly use a candle close or open to describe a trading idea, and for good reason. To start with, most people clearly understand what I mean if I say something like 'If the weekly candle closes above 8100...' but the significance of a weekly candle close above 8100 has nothing or very little to do with the fact that a market traded above 8100 at 00:00 UTC on a Monday. The distinction I use for price action with regards to candle closes is nothing more than the inclination for a market to trade near a certain price range and not instantly get rejected. . In our example above, it is very different if price has been trading at 7600 on Sunday at 10 p.m. and proceeds to climb to 8100 by 00:00 a.m. on Monday, than if price has been trading at 7900-8100 for a whole weekend and closes above 8100. There is a lot of value in understanding how a candle opened or closed and to not assume all candles are created equally if their OHLC numbers are identical. This is why a trading strategy with multiple time frames is a must when using bars/candles to read price action. Wish I had more time to go over a couple of examples, but the concept is very simple and I hope all of you understand the gist of the idea behind it.
XEducation
by coinselor
AUDCAD on the first confirmation onto the demand zoneAUDCAD hits the first confirmation onto the demand zone. The First bearish candle to hit our key zone is around 5/13/19 and the low before the reversal is set at 0.093542 on the minor demand levels before jumping out the zone. This will be a break shorting oppotunity at the next major demand level since price hasn't been back around this aera since the end of feburary. We can go long around the 0.93091 area and scoop 20 pips at the 0.93281 and stop at the 0.92219 area
Long
by Trellz_
ETCETH Extremely bullish! My next PlayI hope you guys took some great profits from my DASH call. Looking into moving some funds to a currency that's been flying under the radar. None-other than the overlooked, good old ethereum classic! While bearish on the 1-4 hourly and daily(Short-term), ETC proves to actually be extremely bullish. We can see that it broke through a very strong resistance trend line. Further more, a bullish MACD Divergence is evident. The odds are LIKELY to the upside, still placing a stop loss.
Long
by BlacksmithShinobi
Long Term Short Setup Using Raghee Horner's IndicatorsIn addition to the elliot count short setup posted previously I'm going to be scaling into a short on btc using the 34 ema indicators often used by Raghee Horner. The basic idea is to short into touches of the 34 ema of the day lows with a stop a bit above at the 34 ema of the day highs. The darvas box shows that price is forming a poor low which is likely to be retested and after a few strikes on the propulsion dot area it is likely to break lower and make a measured move to the $2 to $1k region.
BITFINEX:BTCUSDShort
by mljones
1
AUDJPY Short ScenarioHey Whats up guys, so looking into the trend Change, of AUDJPY with a Potential Reversal zone @ Pricepoint 83.70 as the markets had opened up, we scapled into our longer term hold over possibly the holidays as a short to around the 81.50 areas. :) Boy oh Boy that looks very nice as do alot of the Yen pairs do across the board, Remember to handle with care, Yes their is a hint of Divergence, which alot of my avid followers definetly like to see ;) Have fun with this one ladies and gents!
Short
by TheOzarkTrader
XRPUSD (RIPPLE) POTENTIAL LONG OPPORTUNITY RIPPLE POTENTIAL LONG I have been monitoring the cryptocurrency markets lately and Ripple has now officially caught my attention, and I'm sure the attention of others, this is why I wanted to make a post on it. Based on this last weeks volume I had seen a very strong momentum push by the buyers showing me the very strong interest in a potential purchase in this currency pair. Lets take a look at my analysis on it ! 1W Chart: *if you look on the weekly chart you can see the biggest push of momentum in MONTHS *buyers had showed very strong interest from the .20-.25 cent and had sent price up into the .80 cent levels *weekly candle has left a very large and strong bullish candle 1D Chart: *on this chart price had broken structure around the .47 cent price area *look for a weak seller pullback if we see one back into the .47 cent price levels *watch for strong buyer momentum in this price are Always make sure to approach the markets with a consistent and disciplined approach. It's about letting the market tell YOU what it wants not YOU telling the market. Make sure to always implement good risk management into every trade and approach it as a strategic business decision. Keep an eye out ! Cheers! Please like and follow my page for more Trades on TradingView!
BITFINEX:XRPUSDLong
by JosePips