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Choch

HOW TO TRADE CHOCH IN FOREX - SMART MONEY TRADERThe "Change of Character" (ChoCh) is a trading concept used to identify potential trend reversals in financial markets. It signifies a shift in market sentiment, such as from bullish to bearish or vice versa. ### Key Elements of ChoCh: 1. **Trend Breaks**: ChoCh occurs when a price trend fails to continue, such as not making a new lower low in a downtrend or a new higher high in an uptrend. 2. **Volume Spikes**: An unusual increase in trading volume accompanying a price movement can indicate a ChoCh. 3. **Candlestick Patterns**: Patterns like engulfing or doji candles can signal a shift in market sentiment. ### Trading Strategy: 1. **Identify Points of Interest (POIs)**: Use higher time frames to find significant levels like order blocks or support/resistance areas. 2. **Analyze Lower Time Frames**: Look for changes in trend around these POIs, using signs like price failing to break previous highs/lows. 3. **Entry Points**: Enter trades aggressively after a ChoCh is identified or conservatively after a return to the fair value gap created during the ChoCh. 4. **Stop-Loss and Take-Profit**: Set stop-loss orders just beyond reversal points and take-profit targets at next significant levels or using a fixed risk-reward ratio. 5. **Confirmation**: Use additional indicators like RSI or Moving Averages to confirm ChoCh signals. ChoCh helps traders anticipate market reversals and make informed trading decisions across various markets, including forex, stocks, and cryptocurrencies.
Education
by FrankFx14
AKRO At Least 1500% Move Is On The Table! New ATH Is ComingAKRO Has One Of The Most Clear And Perfect Charts Among The Market. In Classic View, It Formed So Sweet Patterns And All Of Them Did Exactly Well, Now We're Going To Look At It's Chart From Super-Big Picture And Find The Very Ultimate Pattern . Let's Go. 1- The First And The Most Important Thing Is The Monthly Change of Character ( CHoCH ) That Happened In Aug 2023 In Form Of a Powerful Big-Ass Candle. Monthly Chart Is One Of The Most Important Time-Frames Among The Others, Isn't It? As You Can See On The Chart Below, It Broke The Last High Caused the Bottom, So We Identify It As The CHoCH. From That Date, We Were Looking For The Best Entry Opportunity Until Now, Maybe The Best Time To Enter. Because The Break-Of-Structure (BOS) Is Going To happen In Coming Weeks. Price Reached The Monthly Support Zone Which Formed As a Red Hammer Candle. Do You See It? The First Step Was Detecting The Support Zone, The Second Step Is To recognize Reversal Elements Forming On That Support. So Let's Dive Into It! 2- There Is No Reversal Pattern Seen On The support Yet But : Very Strong RSI Bullish Divergence Seen On The Daily Chart Exactly On Monthly Support That I Mentioned Before. Price Is Making Lower Lows While RSI Is Making Higher Lows On Daily. The First Sign ... 3- Trend-Line Just Broke On weekly To Gather Liquidity, So a Heavy Come-Back To The Upside Is coming, Which Will Lead To Shatter All Of The highs And Perhaps Reach a New All-Time-High. There Are Two Weekly FVGs That Should Get Filled In The Future Highlighted On The chart. Take It So Serious ... 4- There Was a Head And Shoulders Pattern, Done In The Weekly, The PullBack Phase Almost done On The Weekly! Are You Ready To Rebound? 5- Now, Take More Distance From The Screen, Watch The Chart From Bigger Picture. The Ultimate Pattern That Akro Is Making On The Monthly chart, Is a Huge Cup And Handle. After Breaking The Top Side Of The Handle, It Will Throw Into The Sky, Probably In Search Of a New All-Time-High ... 6- Just See The Other Side Of The Box! Price Action Is Making a Three-Drive Pattern In Weekly Towards Major Liquidity Pool. The Only Concern ... But Don't Be Worry, After That We Can See Jump In Price In form Of a QM Pattern. Follow, Like, Share And Comment Below If You Enjoyed This Idea. See You On Top!
Long
by Trading-Mechanics
2
BTC daily baisBTC UPDATE: At this point we really need a lot of patience in the market before we can say we want to bag spot…. There is a potential that BTC will first pump to 68.9k before dumping to buy wall zone on daily bullish OB below at 51.6k…. My little advice is don’t rush into market at this point and wait for a better correction in market. My view is we will start seen retracement in market to the daily bearish OB above before halving and the final correction will take place after halving to take down the liquidity below…. Don’t be in an haste at this point Follow for more market update and trade setup
by MICHELXM