IMPULSE + CORRECTION in Gold - "Learn More Earn More" With USThe market makes an impulse then makes a correction before making the impulse again.
Educationalpost
Ascending Triangle in Bitcoin - "Learn More Earn More" With USBitcoin is coiling for its next move.
The higher lows suggest strength, but BTC needs to secure a close above $12,100 to open the door to the $13,000 area.
Keep an eye on $11,600 in the event of a pullback.
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Ascending Triangle in Bitcoin - "Learn More Earn More" With US
Ascending Triangle in Bitcoin - "Learn More Earn More" With USBitcoin is coiling for its next move.
The higher lows suggest strength, but BTC needs to secure a close above $12,100 to open the door to the $13,000 area.
Keep an eye on $11,600 in the event of a pullback.
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Maslow's Pyramid & Rocket Bomb Descriptions in trading 🚀💣Hello, my dear lovers of self-development !💙💛
I haven't posted any EDU Posts for a long time. For me, each of them is special, in which I put all my soul and creativity 🤗
Today I would like to talk about very interesting topic - which is called <> !
💡The first thing, that came to my mind was Maslow's Pyramid of Needs .
If you start reading modern literature, You'll understand, that most authors think, that Maslow's pyramid no longer works, or doesn't fully work. 🤷🏻♀️
⚡ According to Maslow, higher-level needs can only arise when lower-level needs are met ⚡
Someone may disagree with this, but personally for me, everything is very transparent and obvious. Only by closing the basic needs (basic knowledge in trading) we go further, we simply don't think about what we have attained the truth in a certain sense. 🙏🏻💥
Now it has become fashionable in the world to refute theories and make adjustments in it🙄 But the wisdom, that has been passed down to us for centuries can't be ignored. 🙏🏻
Today I would like to share with You Maslow's Pyramid in my descriptions for traders. Hope You'll like it 🙏🏻
⚡At the first stage , a trader tries to cover the most basic needs: most often a person comes to the market for money, and that's the physiological need in trading.
⚡Going to the second stage, he seeks safety, because he faces difficulties ... and only if he realizes, that on the first stage he made a mistake (down arrow), after re - thinking, he can move on to the third stage (up arrow).
But that's a huge work. It takes time and endurance, patience and calmness, desire and fortitude!💪🏻
⚡With the transition to the third stage , a person becomes more successful, he change his thinking . And that's a great sign on the road to success.💪🏻 He begins to be proud of himself, but realizes, that there is an opportunity to develop further.🚀
⚡The fourth stage - he start makes a good profit, the trader, by default, accepts all previous experience and moves on, filled with motivation and success.💪🏻
⚡And the fifth stage - most important thing for any trader is self-realization. A trader understands, that he is successful, self-sufficient and he has something to share with other traders ... he can motivate, inspire, and that's the highest reward !!!💪🏻
Only 5% of traders reach the 5th stage, and maybe less.🔥
Do you strive to be part of that 5 percent? ☝🏻🧐 At what stage do you feel yourself?
Thanks for Your attention🙏🏻
Stay in touch🧡
Sincerely yours Rocket Bomb 🚀💣
RISING AND FALLING WEDGES
Good afternoon.
Today we are looking at another chart pattern
RISING AND FALLING WEDGES .
Let’s get on it.
Wedges can either be continuation or reversal patterns.
Just to refresh your memory, continuation patterns are formations that show side way price action, signalling a temporary pause in the trend; whereas reversal patterns indicate a change in the trend.
Whether wedges are continuation or reversal, it’s not really significant, what matters is spotting the pattern, and knowing how to make money out of it.
Wedge patterns are classified as either RISING WEDGES OR FALLING WEDGES.
Rising wedges, as the name implies, slopes upwards, and they eventually break to the downside
Graphically, rising wedges look like the above sketch chart(Sketch 1)
notice how the slope of the support line is steeper than that of the resistance.
This indicates that higher lows are being formed faster than higher highs. That is precisely how the wedge pattern get to be formed.
The inverse of the rising wedge is the FALLING WEDGE , which usually breaks to the upside.(Sketch 2)
Just like on the rising wedge pattern, the falling trend line connecting the highs (resistance) is steeper than the trend line connecting the lows (support).
As mentioned earlier, rising and falling wedges can either be continuation or reversal patterns.
But whether they be continuation or reversal patterns is not our focus, our focus is on making money when these patterns ‘BREAKOUT’ .
If you case you are wondering what we mean by ‘breakout’; consider the chart above(Sketch 3) of a falling wedge and a rising wedge, and how they typically break to the upside and downside, respectively
Now let’s look at how we can make money out of a RISING WEDGE PATTERN.
Let’s start by considering the chart (Sketch 4)
Now, when entering a Short trade based on a rising wedge, it’s important to wait for a break and close below the support line.
After this close, aggressive traders can ‘pull the trigger’.
But a more conservative way to enter the trade, is to wait for a retest of the previous support (now resistance) before pulling the trigger.
In this case the sequence will be something like this:
1. Wait for a close below support
2. Wait for a retest of the previous support
3. If the previous support act as resistance, then enter short trade
A Long trade based on a falling wedge is entered on the same principle (but in reverse), that is,
1. Wait for a price close above resistance
2. Enter Long trade at that close (for aggressive traders)
3. For conservative traders, wait for a retest of the previous resistance (now support) before pulling the trigger
That’s ENTRY, now let’s look at placing stop loss and take profit levels when trading wedge patterns.
Take profit target should ideally be the height of the wedge formation.
Consider the chart above(Sketch 4)
Stop loss orders should always be placed at a level that if hit, it will invalidate the trading set up.
In the case of rising wedges, this level will be the area just above resistance.
The opposite is true for falling wedges, place stop loss just below support.
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Until next time, let’s keep if Profitable!
THE ASCENDING AND DESCENDING TRIANGLE CHART PATTERN
Ascending triangles are classified as continuation Patterns . Here are the key elements that make up an ascending triangle:
1. Bottom Trend Line(Support) – An ascending triangle is characterized by a bottom trend line that is formed as the price continues to set higher lows. The more touch points on the trend line, the more reliable it will be.
2. Horizontal Resistance Line – An ascending triangle also contains a flat horizontal resistance line that is formed as the stock continues to reject its previous highs (for a given period). Once again, the more touch points on the resistance line, the more reliable the pattern will be.
You must be wondering how the chart pattern get to be formed?
What happens during the formation of an ascending triangle is that there is a certain level that the buyers cannot seem to break ( red resistance line ).
However, as evidenced by the higher lows ( green uptrend support line ), buyers will gradually push the price up, hence we end up with an uptrend of higher lows.
As buyers and sellers keep putting pressure, a breakout will become inevitable.
Though a price breakout is inevitable, the big question is, “ Who will break the price, buyers or sellers? Will the buyers be able to break that resistance level, or will the resistance be too strong?”
Well, the answer is, most of the times the price will break the resistance area and go up.
However, it is not always the case, sometimes, the resistance is too strong for buyers to break.
Now let’s look at its inverse, the DESCENDING TRIANGLE CHAT PATTERN
In a descending triangle chart pattern, as can be seen on the BTCUSD chart above, there is a string of lower highs which forms the upper line (red resistance line). The lower line is a support area (green horizontal line) in which the price seems to be failing to break.
Just as with ascending triangles, most of the times, the price will break the horizontal support line, and continue with the move lower.
Follow me closely as we will now ‘investigate’ the PSYCHOLOGY behind ascending triangles:
To make the analysis easier, let’s think of the ascending triangle pattern as a visualization of an ongoing battle between the bulls (buyers) and the bears (sellers).
The bulls keep pushing the stock up in price until they get overpowered by the bears/sellers at the horizontal resistance level.
It is at that resistance level that bears/sellers attempt to push the price down.
Though sellers are somehow successful in pushing the price down, they are however unable to push the price to the previous low levels, as bulls/buyers are persistent, and the price sets a higher low (bottom trend line).
This pattern continues until the price action becomes confined to the vertex of the triangle, representing a pivotal moment in this battle. At this point, either the bears will win, and the BTC will break the bottom trend line, or the bulls will win and break the horizontal resistance line.
If history is anything to go by, this pattern favors the bulls, and if the horizontal resistance line is broken, the bulls will be able to push the price up, triggering a breakout.
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What is momentum?Momentum is another word for how the price on your charts moves. Momentum analysis, though, is one of the most important skills any trader can learn.
What is momentum?
First of all, we need to understand what momentum actually means but this is straightforward.
Momentum = Trend strength
There are two ways of looking at momentum. The first one just looks at the overall trend strength.
When the price is in a strong or healthy trend, traders say that the momentum is bullish or bearish (in a downtrend).
When we come to the micro level later, we will see that momentum also exists when we just look at individual candlesticks. A long candlestick without wicks (shadows) usually is considered a high momentum candlestick.
FOMO Is Real In $REKROne of the biggest problems newbie traders face is FOMO - the fear of missing out.
Case in point is $REKR.
Now, we get in at $1.20 and rode it all the way to $5.50 a share. We saw the resistance at $5.50 and new that was where to exit.
On Stocktwits, a lot of traders are chasing $REKR looking for the next move. In all honesty, the move has already happened.
We got a 358% run in 2 months. For traders to look for more is just pure greed.
What $REKR does here at $4.20 is anyone's guess. We will say the $5.50 resistance is very strong and in going long, where does one put a stop? Below the 20, 50 or 200 day moving averages?
This is too much risk in our opinion and not enough reward.
Traders need to avoid FOMO and look for better trade setups.
That's what we do.
Good luck to all!
How to trade Bitcoin with RSI in a bear marketHere's a few helpful tips I have learned trading RSI in a bear market.
Watch for trends and act accordingly. Open shorts at good entry points with a stop loss right above it. If your stop is hit, do not panic. Just admit you were wrong and go long/buy into the trend if the buying volume and price action is strong enough.
For shorting, watch for the RSI bounces. A first bounce below 30 RSI is your trigger point. The second bounce will usually result in a lower low and you can sell there to take profits.
Wait for your buy signal at 60 RSI again (or wherever your pattern fits) and repeat.
For the chart:
Blue boxes = short open boxes.
Red lines = set stop losses above each blue box.
Green boxes at first drop through 30 RSI = trigger boxes to get ready to sell.
Yellow boxes at 2nd bounce after 30 RSI boxes = short close.
Go long if stop is hit and if buying volume/price action is strong.
EDUCATIONAL GUIDE TO HELP IMPROVE YOU TRADING.. You're welcome xThis simple guide was designed to help aspiring traders understand the structure of the markets. Structure is apparent on all Timeframes so it is imperative that you familiarise yourself with it.
If u have any questions on this topic feel free to msg me x
Dont be a D#@K.... its DUCK.. honestly ;p Here we have some really strong support and resistance levels drawn on the chart ( green lines ) They are classed as strong because price touched them and then bounce a number of times ( I will let you figure these out for yourselves... I'm not spoon feeding you ) ;p
You can also see a lovely trend line TL that has been touched more than once, so this is also classed as strong.
Now because these levels an TL are strong a break of any of these could see a big move, again you can see all this on the charts.
When price is these key levels in NO MANS LAND we tend not to take a trade, we will wait for price to retest these levels and wait for a break or a bounce before jumping in a trade. I keep saying it and I will keep saying it until you get p#@sed off with me...... but patients is key!!!!!!!
Get the larger timeframe charts up ( we like to use 1 day and 4H charts ) and zoom all the way out... this will make spotting these levels so much easier.
So don't be a D@#k and practise this... it will make you a more profitable trader.
I hope this has helped you.
Dont be a D#@k... its DUCK honestly ;p Here we have some really strong support and resistance levels drawn on the chart ( green lines ) They are classed as strong because price touched them and then bounce a number of times ( I will let you figure these out for yourselves... I'm not spoon feeding you ) ;p
You can also see a lovely trend line TL that has been touched more than once, so this is also classed as strong.
Now because these levels an TL are strong a break of any of these could see a big move, again you can see all this on the charts.
When price is these key levels in NO MANS LAND we tend not to take a trade, we will wait for price to retest these levels and wait for a break or a bounce before jumping in a trade. I keep saying it and I will keep saying it until you get p#@sed off with me...... but patients is key!!!!!!!
Get the larger timeframe charts up ( we like to use 1 day and 4H charts ) and zoom all the way out... this will make spotting these levels so much easier.
So don't be a D@#k and practise this... it will make you a more profitable trader.
I hope this has helped you.
'
BROKERS ARE BAST@RDSblue arrow marks a 360 pip manipulation spike, these are used by brokers to wipe out peoples trades who have set orders or have SL set around key support or resistance areas, its easy money for the brokers!
You can see how much of a key area this price was from our orange arrows pointing out where price entered the box and bounced using it as support, now the sneaky, slimy little brokers would have seen this lovely key level formed and knew that loads of people would be setting orders or SL around this area and they would be rubbing there grotty hands together because they were getting ready to manipulate the market and wipe everyone's trades out.
You can spot manipulation spikes easy because all they are is a unusually long shadow of a candle that form in the opposite way to the trend of the market, after this spike the price will come back to the market and carry going with the trend.
To sum it up brokers are BAST@RDS.
Walk the plank.......( circled ) here you are in no mas land half way in-between strong support and strong resistance, would you open a trade here? if you said YES then you really are gambling and should go to a casino, just ask yourself why would you throw money away on a trade that could go either way? you may as well put your money on RED or BLACK.
You have to be patient and wait for a retest of either support or resistance or set some orders around these levels so you can catch a good trade, you really need good self control in trading or it will f#@k you up.
Just remember you don't always need to have a trade open on your account, We have gone weeks without trading before either due to in correct market conditions, all our criteria's for taking a trade not been met or just down to personal circumstances, if you are not in the correct mind-set you will not make good trades, so step away from the markets until your head is straight.
I hope you take this on board... if not you will go over board hahaha you will walk the markets pirate plank... How can a plank walk the plank you ask yourself ;p
Ive lost my wife... has anyone seen her? ;pI'm not going to point out where price touches these lines as it really is simple to see that these levels have been used as both SUPPORT and RESISTANCE, how do people not spot these? Do they constantly walk around with eyes closed? or more likely with heads in phones on dating apps looking for there next sexual transmitted infection ;p
It is so simple but yet people complicate trading or are lead to believe that you must have 1000000 indicators and lines on your chart to spot the next move..... WRONG!!! Look at our charts and you will see how clean they are and that we use NO indicators at all and only trade off support/resistance levels, Trend lines and the candles going into these levels... And we are not doing bad ( Which Lamborghini do I take out today? ) ;p
But honestly just listen too yourself, learn too trust your own setups, erase people out your life who are not on the same mission as you ( because they will only drag you down, I have lost my wife... has anyone seen her? haha ) And you will see an improvement in trading.
If you have any questions about trading or life in general then just send us a message and I will be happy too help.
Ive lost my wife... Has anyone seen her? ;p I'm not going to point out where price touches these lines as it really is simple to see that these levels have been used as both SUPPORT and RESISTANCE, how do people not spot these? Do they constantly walk around with eyes closed? or more likely with heads in phones on dating apps looking for there next sexual transmitted infection ;p
It is so simple but yet people complicate trading or are lead to believe that you must have 1000000 indicators and lines on your chart to spot the next move..... WRONG!!! Look at our charts and you will see how clean they are and that we use NO indicators at all and only trade off support/resistance levels, Trend lines and the candles going into these levels... And we are not doing bad ( Which Lamborghini do I take out today? ) ;p
But honestly just listen too yourself, learn too trust your own setups, erase people out your life who are not on the same mission as you ( because they will only drag you down, I have lost my wife... has anyone seen her? haha ) And you will see an improvement in trading.
If you have any questions about trading or life in general then just send us a message and I will be happy too help.
Forex trading is NOT hard...Drawn on the chart we have a key monthly support and resistance level ( been used as resistance in this chart ) On the monthly chart this level has been respected and touched the past 4 months... Get the chart up yourself and check you lazy bas#a'rds haha, You can also see this key monthly level has been respected on this chart ( 4H )
Now you can see why it is so important to check other timeframes once you have drawn these key levels on, Because the more timeframes your levels are respected on then the stronger setup it is!
Simplicity really is key to success in trading, all these so called gurus put charts out there that look like they blew up a paint factory, this is because they want to confuse people and make them think you have to be clever ( I'm living proof this isn't true haha ) and put 20 years practise in before you start seeing returns, And also if people believe this bull#h't they are more likely to buy there services when really it is probably just some lad from a shitty council estate who lives in his mums basement and hasn't got a clue about trading and the only support line he knows is the addicted to wa#nk'ng support line his mother makes him call once a week.
Coolio Gangstas Paradise, Support and ResistanceIf you can find a good support and resistance level or zone it will keep your bank account fed well for years.
As you can see the 1st purple arrow marks where price 1st tested this zone as resistance in 1995 when Coolio was at number 1 with "Gangstas Paradise" ( sorry if I've just made you feel old ) :p Then the price passed through this zone for the next few years eventually using it as resistance again in 2010, 2013 and 2017, Now price is currently in this zone again and has used it as resistance many times in 2018 and 2019, So 14 years ago this zone was 1st used and is still been used today, See why zones and levels are so important?
The same can be said about our bottom support and resistance zone but I'm sure your not that stupid you need that explaining also! Actually it is 2019 and there are a lot of brainwashed zombies about courtesy of the government, media and failing school system ;p
Anyway stop using your laptop to watch naughty adult movies and use it to find these key levels... you will also have a happy ending if you find them :p haha.
MARKET PSYCHOLOGY & CYCLEYou will often come across the term market psychology. This is different from your personal psychology. Market psychology is the same as market sentiment we just discussed. Market psychology is the overall feeling that the financial market is experiencing at any given particular time. There are several factors that contribute to this market psychology and include economic circumstances, expectations, fear, greed etc. All these factors taken together actually contribute to the trading patterns of the investors. There is nothing much you can do about this because, apart from hardcore economic circumstances, human psychology also plays a very vital role in determining the overall market sentiment.
The problem is that all humans cannot be rational. Many of the traders will be driven by emotions like fear and greed. As an individual trader, no matter how rational you are, the moment you see that majority of people thinking that market will move in a particular direction, your rational mind will face a revolt from your emotional side and even if you know that majority of the people are thinking wrong, you may still end up trading in the direction they are trading.
It is because of this weird conflict between rational mind and emotional side that you cannot really depend solely on fundamental analysis of market. Often times, it is very important to go for technical analysis too because it will tell you, without taking account of emotions, the direction or the pattern that the market is following. Technical analysis is based on historical price data. This is crude data we are dealing. They are numbers that are brutally true. The numbers don’t speak emotions. But again, technical analysis cannot alone give you the true picture and you will have to use fundamental analysis at times. So, market psychology can be like a dreadful nightmare but that is what you need to deal with by balancing between your fundamental analysis and technical analysis. Knowledge and education is key to success in binary options market. You cannot afford to be irrational but you cannot even ignore those irrational traders who can and do affect the market as a whole.
INV. HEAD AND SHOULDER Reversal PatternAlso called a higher swing low trend reversal, an Inverted Head and Shoulders pattern is formed when price action within a downtrend traces a higher swing/pivot low than the previous one.
The Inverted Head and Shoulders pattern can be formed because the sentiment that was formerly producing the downtrend is now possibly shifting and selling pressure is decreasing.
Inverted Head and Shoulders patterns can be stronger when the price breaks above the "neckline", which is a trendline connecting the swing/pivot highs that created the inverse shoulders.
Traders will often seek out opportunities to buy when confirmation in the form of a "neck-line break" occurs. A neck-line break for an Inverted Head and Shoulders pattern is the failure of a resistance area drawn from the two previous swing highs on the chart.
Buy only when price will go above neckline!
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EDUCATIONAL MATERIAL- Bitcoin I was thinking about this educational material for a long time and finally I have the chance to share it with you, all of you who want to improve your trading style, to be more profitable. This is specially for those who find it too difficult to trade and everything goes against them. I spent years to improve myself and become profitable, starting from the bottom, never had a personal teacher and never went to a finance university, learning everything by myself. A lot of times I wished to have someone who could help me or give me some tips but I had to learn everything on the hard way
I will start with the thing that I think is the most important in profitable trading .
Price action. Listen, there are a lot of strategies out there which work, everybody has their own style. Boolinger bands, pitchforks, heikin ashi candles, renko and dozens of indicators. All indicators are made from price action; open/close high/low of candlesticks.
Price action is the most important tool for a trader. It is used by institutional traders, by big houses and is the most accurate indicator of an asset, for the next move. And here I will teach you how to use price action in your favor.
On a daily chart, you can put a moving average to see clear how is the trend. Is there a bullish market, bearish market or ranging. Let’s see for example on my chart the 20 period Exponential moving average. After price action, the 20- period EMA is very important, especially on a daily chart for bitcoin because it acted like a resistance for many times this year. You can check the chart. Why not a single top trader from TV is using or telling something about it is a mistery for me. Few days ago I could bet the last move up will find difficulties to march further when it touches the 20 EMA. So simple. Let’s go back on price action. I marked on my chart LOWER HIGHS and LOWER LOWS. When you see a market moving like this you don’t want to go LONG until this trend is over or is bouncing back from a strong trend line.
First rule of a reversal; keep this in mind: If there is a downtrend the price has to make a higher low and then a higher high for a clear confirmation of reversal. In case we have a trend line wich acts like a support and if price bounces from it we don’t need to wait for a higher low and higher high. Let’s say we exclude that trend line, for a revearsal, usually the price needed to stay above the previous low made on 28th of May at 7065 dollars; then move higher than the previous LOWER HIGH marked by me with yellow, and after that a retest of it. Retests of the previous lower high usually occur and that is a clear confirmation of a revearsal. This is the most important weapon you need to master to be profitable in trading.
Same thing is when the trend changes from moving up to go down. First, you have HH and HL , then usually fails to make a higher high, it drops lower than the previous low, goes a little bit up again to retest the previous low and boom, trend is changed, the market is falling. Perfect example look for Bitcoin’s price action from 25th of February to thirtheen of march (on a daily time frame- is easier on the beginning because it takes out the noise).
Look for trendlines, try to analyse how long can you do it to see everything, the details. Support and resistance zones are very important also, look at my chart white dotted lines around 7800. See how the marked reacted around them and try to memorise. You have to learn the chart patterns. The most of the time you will see wedges, flags and triangles and around revearsal zones there will be double tops, bottoms, head&shoulders. Try to learn them and practice to recognize them because it will be easier for you in future, helping you to know where the price will go. There are a lot of tutorials about chart patterns on the internet.
usd yen analysis Hi everyone so far I can see this pair going either way: I have made plans for both cases if either is to happen. I have set tps as well as well as alarms in place.
Happy trading , any questions let me know
Kris
