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USDRUB Long term analysis for Russian Rouble !Russian rubble had a strong correction to 68.25, but after that, formed the pattern triangle with T2 and T3 trendlines (1,2,3,4 points). You can find expected movement with green lines. In my opinion RUB will stabilize a bit on christmas holidays, but after, will decline up to 84.00, if CBR will not take strong actions. Anyway CBR cann't change the trend direction, but just hold motivate the market for several months. For long term strategy, fundamental changes must be made in fiscal policy and in the economy itself. If pandemic wil end in December, this fact will not help currency, there are other fundamental reasons why RUB is declining
Long
by AmiranAzaladze
$XJO Daily (Long & Short strategies)Which way will XJO go??? I feel many investors are on the edge of their seats, whether cash or holding, there's this underlying sense of unease as the markets could swing either way at any moment... So ask yourself, and answer in the comments below if you like: a) Will we continue to melt-up and diverge from the economy? b) Will markets crash back down and catch up with the economy? c) Will we track sideways, become comfortable not knowing which way its going to swing, then bamm? e) Are we just waiting for a catalyst, Say Trump catching C-19, or the elections...? Either way, I have charted a Long & a Short play each with their own patterns, confirmations, supports & resistance. I would very much like feedback & suggestions as i'm new to charting and keen to learn Cheers,
ASX:XJO
by Spade_of_Aces
12
MP1 (Daily chart) LongHistory doesn't repeat but it rhymes On that note, it appears that there's one more leg up before a correction Strategy: Ride this leg up (Long), then with a rejection confirmation (short) down to the 61.8 fib retracement level. 1. The current triangle needs to be confirmed with another touch on the top line. 2. if (1.) is true, look to accumulate on the bottom line 3. Sell at the target price for a 28% gain 4. Wait for confirmation that there is a strong rejection at the target price 5. Wait for a bearish indicator showing reversal 6. When (4. and 5.) is true, go short 7. close short at the 61.8% fib retracement level IMO/DYOR
ASX:MP1Long
by Spade_of_Aces
2
Candlestick Reversal Patterns, Indicators, or Both?This chart demonstrates beautifully how better results might be obtained by using candlestick reversal patterns instead of just blindly following a lagging indicator. DISCLAIMER: This is not a trading strategy or plan that anyone should use out of the box. This is not investment advice, but please establish your own entry and exit rules for the securities you want to trade. And, ideally, back test, and forward test them. EXPERIMENT: Here, I am using a triangular moving average (TMA) with standard deviation bands. I thought I was very original with my TMA. But it turned out to be very similar to the popular, Chris Moody's CM Ultimate . But the TMA has been around a long time, so that figures. Not to be outdone so easily, I thought I'd try and see what it looked like by adding bands. But setting up the parameters is very subjective. I chose a length that I think lines up best with the trends that I want to capture. Then I set the bands such that they encompass most of the price action. It's not like Bollinger Bands that pretty much work with default settings every time. If there is enough interest though, I will consider releasing the indicator. Notice that even with optimum settings, identifying candlestick reversals could identify a change in direction prior to the indicator. Yet using an indicator like this does help me to identify where to look for reversal patterns. I want to see candles with long tails, or candles that reverse the high or low. I also want to look back for areas of previous Support and Resistance, volume, shorter candles, and trend lines to anticipate where a reversal pattern may occur. Consolidations inside the wide bands or near the moving average are other places to look. Multiple points of confirmation could assist in identifying where to look for good trades and stops that best fit the overall position sizing and trading plan. Note: I am neutral on DOG because the pattern looks incomplete to me. At my level of experience, I like to see a bit more confirmation. What do you use? Candlestick patterns, indicators, or some other combination? I am just getting started with this. But I hope this helps you in your endeavors. Keep looking through charts in addition to studying patterns to become a master at identifying these reversals. If you have any other ideas to improve, please let me know in the comments. Here's to your success!
AMEX:DOG
by Hellork