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Key Levels are Magic 🪄 Create only the Best Risk/Reward Ideas!Someone recently asked me if the zones I draw on the chart is an indicator. This speaks to the amount of experience and level of competence that is easy to forget about. My ability to spot key level's and price areas on the chart is not something that is acquired overnight. It's a culmination of trial and error over the years and a loss of a significant amount of cash. It came at a large cost. The Latter is not necessary to understand the best key level's and price areas to trade off. Something that I recall over the years is the fact that I was never Self-Conscious about looking like a fool. We are all fools when we begin a new endeavor. I never hesitated to share my analysis with my mentors. Feedback can be quite painful but if you make it a habit, then it will return unto you by the tenfold. Take this zone (27,136$ ) which was our 4Hr Support zone. I Say "was" because there was once a time when the 4Hr timeframe respected it as a Support area on May 28th. It is now characterized as a 4Hr S/R Zone because we have seen multiple candles clearly close below it.. and it could, and I say could because there is no guarantee in the markets. It could act as a Resistance zone now and facilitate the distribution of orders as we continue our short term descent down to our next Key Level -- Weekly Level 26,770 $. If we arrive at the weekly level we will most likely have a reaction. A general rule of thumb to go by in the markets as a Price Action Trader - The Higher Timeframe the key level, the more probable it is that price will offer a good Risk/Reward trading idea off that level. The only guarantee is that there are good Risk - Reward Ideas and bad RR Ideas. So I might as well use my knowledge of the best price areas to create only the best Risk/Reward Ideas. For example, I will only trade off the 4Hr timeframe and Timeframes above that ( I have found this to be a good rule in the Forex market). I will only take trades that in which I Risk 1 to earn 3. In that way my win percentage may only be as good as 30%, yet after paying commissions/spreads to the intermediary, I earn a profit. It is important to note that the monthly candle is closing in 2.5 Hours. Th Monthly candle is closing bearish and this may cause volatile price swings as position traders and Institutions manage their trades. It seems that we have accumulated a significant amount of liquidity after the market was pushed up to 28.5K because look at the daily timeframe. The market didn't hesitate all that much to quickly drop back and retrace a majority of the gains. As we move into the next monthly candle, we may very well go to create a bottom wick first as the current monthly candle is closing bearish. This is reasonable argument. Idk what are your thoughts? Please comment below.
COINBASE:BTCUSDShort
by ShrewdCatfx
More Gas in the Tank? Eurusd 🌬️If we are trading with the trend then it would be wise of us to continue to look for short setups. However, Price has plunged to the downside plenty and it is reasonable to ask when will we see a correction. My thoughts are that we see a dip early in the week. Buyers eventually show up around our weekly level 1.06654 and we continue up for the rest of the week or consolidate after liquidating late shorts. The debt ceiling controversy may be used as an excuse to pump risk assets. It would also provide a nice opportunity for the dollar to pullback. Alot of talks about the dollar being over-extended may see a last and final burst to liquidate any dollar shorts at these level's. After that the dollar may then ease off the highs and pull down for the rest of the week. (Meanwhile EurUsd would go up) A double bottom looks like it may be forming on the 4Hr and so we may an increase on Eurusd sooner rather than later. Anything may happen and so we must follow the processes we have set in place to protect ourselves. Expect nothing from the market and it cannot dissapoint you. There is always another day to trade your setup as there is always another week to execute your strategy. Trading Talk: The way in which I execute my two setups during NY session are as follows. Setup 1: Outline the specific zone you would like to execute this setup. Set your alert(s) Setup 2: Pick your current bullish or bearish bias and write it on the chart. I only allow myself up to 15 Trades / Day But I will not lose more than the Percentage equivalent of 2 Losing trades. Beforehand my risk management strategy was only as good as my skill. But Sometimes to a fault. Now my risk management strategy is as good as my Preparation. And this will encourage only the higher quality setups. Have a good trading week.
Short
by ShrewdCatfx
2
Eurusd Longs " Where art thou ? " 🔭As Bank Holiday Trading comes to a close, we can observe another Bearish Daily candle. The Eur is weak through the holiday trading and the U.S dollar advance is yet to give in. The dollar index is a little bit better than B.E. on the day. For Eurusd : - Watch 1.07116 4Hr Support zone closely. A Strong 4Hr candle closure rejecting this level may send us quickly back up to 4Hr resistance Zone 1.074 and next we may retest our most recent Daily Level ( Daily S/R Zone 1.076 ) - A touch into our 1.0665 Weekly Zone In my opinion is very likely and will coincide with the 6 Red folder news releases we have this week. - We have alot of news this week and we must be aware during our trading - Bull targets for the week include 1.08125 Daily Resistance Level - Bear Targets for this week include a touch into 1.06245 Daily Support Level No trading today since it is a bank holiday. Less opportunity in a low volume market. At least when it comes to the parameters of my trading plan. Safe Trading.
Short
by ShrewdCatfx
Jobs Data 🏗️ / Weekly Level 1.06643 Eurusd Jobs Data was expected to ease over the prior period as the U.S. may have had a smaller amount of job opportunties for it's citizens during the month of May. It turns that the U.S. had more about 160,000 more job openings than was expected. So this is positive for a few reasons - Data was expected to ease over the prior period but we didn't ease and instead the U.S. gained job opportunities during May. - Data was better than expected by a significant margin when compared to previous job openings data releases. This is Optimistic for the U.S. Economy. The impact of the News on price action has initially gone down and dropped from our 4Hr S/R level at 1.07018 Moving Forward I anticipate consolidation or a retracement in price while we hold above 1.06643. If we continue our descent and USD news turns out to be strong enough, our next target is 1.06235. After that, and with NFP data on friday, we may continue to drop to 1.05435. I took a buy at our weekly level 1.0665 when price creased the initial low created during the first 1 minute of news. I have since been stopped out by a small margin before price retraced in my anticipated direction but would take the trade once more given the chance. Weekly Level's are quite strong area's on the chart. Stronger than Daily Level's! They Hold quite frequently as we can observe from the trading earlier in the day. 2 Hours after London open was when we initially tapped into 1.06643 Weekly Level. It coincided with the new 4Hr candle and explains why you can observe no bottom wick on the previous 4Hr candle. Big Players trading on the Higher timeframes are supporting a demand area here. As a scalper I have them to help with my intra-day activities.
by ShrewdCatfx
2
Bet on metaverse now? 📲 Unity - company provides its own engine for creating games with virtual reality support. For example, almost all multiplayer cryptocurrency games are made on the Unity engine: BINANCE:SANDUSDT , BINANCE:AXSUSDT , DAR, MANA and others. Also, a huge number of games without the use of blockchain technologies. This tells us about the growing demand for services of this company. From the historical maximum, the stock has already fallen by -85%! The company is currently unprofitable, but revenue is growing at a good pace. Company's P/S multiplier is normal: P/S~7. The company is expected to reach net income next year: Forward P/e ~33. Should you buy Unity stock now? According to technical analysis, stock has been moving sideways for a year now. During this time, volumes of paper have grown, which means that investors are accumulating shares. However, there are no insider buying yet, which means we haven't seen great prices yet. 📊 Outcome: According to fundamental analysis, the business still looks bad, but the Unity direction is very promising. According to technical analysis, the paper looks attractive for long-term purchases, but we can still see a lower price. Ticker: NYSE:U ❇️ Forecast "optimistic in long term" 💵 Recommended buy prices: $25, $21, $16 💰 Volume per idea: up to 1.5% of the deposit 🎯 Goals: $45, $58, $76 📈 Growth potential up: to 150% by the end of 2023. 📉 Potential to drop up: to 50% by the end of summer. Write in the comments on what other assets you want to get an analysis 🔍 If you are interested in receiving promising ideas on market, dont forget subscribe to channel! In profile you will find a lot of interesting things.
NYSE:ULong
by Dorado_Crypto
Best AI stock for 2023 🤖 Recently, everyone is talking about AI. So which companies to buy and is it worth it now? At the moment, leader among commercial implementation of artificial intelligence is a non-public company OpenAi. Microsoft ( NASDAQ:MSFT ) has made a big contribution to development of OpenAi - therefore its a direct beneficiary of spread of GPT chat. 📱 The rest of Big Tech shares: NVDIA, Tesla, Meta - also have a direct participation in development and popularization of AI. That is, now AI is about the growth of Big Tech shares, which have already grown by + 50+70% since the beginning of this year! It's a lot. For example, Apple is generally ~4-5% of its historical maximum 😱 In context of incoming data, we see that conditions in world's economies are destroying, which means that IT sector will not be able to pull market for a long time and will go into correction. Sp500 will also go down accordingly. And this means that the hype around AI will soon cool down ♨️ But, we would like to highlight one company that will be interesting in the medium term. She is engaged in development and training of AI. ➖ Of the minuses, the company has no profit. Strongly overbought by P/S ~12 (up 200% YtD). ➕ The company has no debt. There is a very promising direction. There is a revenue of $266 million. Huge stock volumes starting in 2023 📊 The next report will be June 1st. If the company makes a profit, there is a chance to grow by +50%, but then the stock will fall. ❇️ Ticker: NYSE:AI ✳️ Buy limit orders: $25, $20, $17 📈 Growth potential: up to 200% by the end of the year. 📉 Downside potential: up minus 50% by the end of summer. Write in the comments on what other assets you want to get an analysis 🔎 If you are interested in receiving promising ideas on market, dont forget subscribe to channel! In profile you will find a lot of interesting things.
NYSE:AI
by Dorado_Crypto
Only a few days left before rocket! Latecomers are not welcom 🙅LTC coin continues its slow upward movement for past 7 months, while most of crypto market is in a bear market. The main reason for growth of this coin is next halving, which will happen in about 2 months. Check out BINANCE:LTCUSDT chart, which shows almost the entire trading history for this coin. As you can see, the price of LTC started to rise a few months before the halving: 1. Halving 2015. The price started rising 126 days before the halving. Moreover, the price grew for 77 days and then went to correction for 49 days. After that, there was a halving. 2. Halving 2019. The price started rising 238 days before the halving. Moreover, the price grew for 189 days and then went to correction for 49 days. After that, there was a halving. 3. Halving 2023. The price started rising 280 days before the halving. The rest of the data is still unknown. With the naked eye, there is a clear trend that the price is rising before the halving. However, this year the price of the coin is in no hurry to grow, and there is not much time left! Even more interesting is that each cycle of the beginning of growth before the halving comes later. But what remains unchanged in history is that the beginning of the growth correction comes 49 days before the halving. Also note that pre-halving growth is historically over 500%! Ticker: $LTC/USDT Buy market order: 92,5$ Goals: 105$, 132$ , 180$ Growth potential: up to 200% by the end of the year. Write in the comments on what other assets you want to get an analysis 🔍 If you are interested in receiving promising ideas on market, dont forget subscribe to channel! In profile you will find a lot of interesting things.
Long
by Dorado_Crypto
BUY BTC MOMENTUM CYCLEBUY BTC MOMENTUM CYCLE: I am delighted to share with you today my in-depth analysis of Bitcoin cycles. This analysis is the result of many hours of research, study, and deciphering various financial and economic indicators. However, it is important to underscore that this analysis is based on information available up to today's date and may not reflect future price movements. Therefore, it's essential that you conduct your own research before making an investment decision. For this study, I used several indicators. Some are classic technical indicators, like moving averages, the RSI (Relative Strength Index), the MACD (Moving Average Convergence/Divergence), and the transaction volume. Others are more specific to Bitcoin and cryptocurrencies, like the NVT ratio (Network Value to Transactions), the network's hash rate, and the number of active addresses. In addition, I analyzed previous Bitcoin cycles in detail to try and understand the trends and patterns that have repeated over time. I also took into account external factors, such as technological developments, regulations, and geopolitical events, as well as the impact of interest rates and unemployment (which I estimate to be imminent) that could potentially affect Bitcoin's price.
BITSTAMP:BTCUSDLong
by AnalysisBOMB
Riding 🏇 Manufacturing Data 🎯 2%+ Risking --> [ .30% ]Last Week the Weekly Candle closed Bearish but with no wick Last week the Candle closed below Weekly S/R Level However, the candle closed in between our two Daily Level's Manufacturing Data Was Expected to be negative for the USD Red Folder News and in theory good for EUR Strength Price had been going up on EU since the new Weekly Candle opening yesterday. From Experience I was anticipating an early in the week push up away from our previously mentioned Level's. The Red folder news was a catalyst for a continuation of momentum. From here we can anticipate a continued early in the week push or Consolidation structure as NYSE Open falls back to our mentioned Weekly and Daily Level's. I can see price holding these level's for a few sessions because the Bulls have a great interest in protecting these levels. Or else EU will fall back to 1.076 rather easily Weekly Target for Bulls if we hold these levels is 1.0948 More Analysis: I observed that London Session had a nice bullish breakout. Price had pulled back for the new 4Hr candle leaving a wick to fill in momentum and additionally to create a bottom wick for the new 4hr candle. So it could blast off like a spaceship away from our previous mentioned levels. Zone to Zone. My TP was at next technical level 1.0889 1Hr Level
Long
by ShrewdCatfx
BTCUSD: Revisiting Key Support at 21500BTCUSD (Bitcoin) I expect BTCUSD to revisit the key support level at 21500 in the near future. A rebound from this level would signal a potential uptrend, with a target of 26k after breaking through the key resistance at 25200. If the support level at 21500 fails to hold, we could see a deeper correction, with a potential drop to 19k or lower. Therefore, it's important to closely monitor the price action around this support level. In summary, my trading idea is as follows: Entry: Buy at the sub-21500 level with a stop loss below 19500 Target: 26k Invalidation: A sustained break below 19500 Please note that this is just my opinion and not financial advice. Always do your own research before making any trading decisions.
INDEX:BTCUSD
by Bitsleader
2
Believe in the Gods! -->🔱--< But do not count on them for help Dollar Bulls Take the Win? We have dropped below our Last Daily Zone at 1.09219. I have been talking about dollar bulls Since we had FOMC data coincide with our extreme highs at 1.1095. A Coincidence? I thought this may be Suspicious! And it turned out that way. That was a good tell for the beginning of this descent. FOMC was last Wednesday and dollar bulls have blessed swing traders with 190 Pips in 1 Week. Everyone says EU is Weak in comparison to the # of pips it gives to most other pairs... It Doesn't give that much , heh 😉. It Respects level's very nicely! Very clean price actionnn. From a Technical Standpoint.. As Long as we stay below 1.09211, only sells for the rest of week. The Price I like are 1.0897 as the next Pit stop. Ultimately with Friday's daily candle I'm liking 1.0866 Weekly Level as mentioned in previous publishing's. Also I like the Daily level just beyond that at 1.08535. As long as NY and our last remaining 4Hr Candle prints below 1.09219, Sells are fantastic. I would prefer that we waste no time and close below 1.09112 4Hr zone. Trading : Trading today went quite well. Looking at my data.. my Thursdays are typically good. --<< I've seen that remark impact my trading psychology before. The brain is a wonder. Managing trading psychology is a large part of trading. Given that I am profitable, I still cut my winners a bit short sometimes. Why? Out of Fear. Complicated.. But for now we must stay consistent and discplined to the system. the trading plan. 3 Setups today.. The First one I ran because i was scared and closed for B.E. It would've been a nice +5 Pip scalp. The Second was a great. Just closed a little early. The third was a great! Closed a little early once again. I can complain because green is green. Profit is profit and we must learn and move onto the next day. On Thursday's.. 1. The Market sets itself up early in the week. By the time Thursday comes around, the weekly candle is ready to extend itself in the preceding direction from Monday/Tuesday Etc. 2. New and Struggling Traders are Tired and Exhausted from trading since Monday. They begin to make mistakes and become sloppy with their execution. Leading to larger losses than are necessary. I have been there.
Short
by ShrewdCatfx
EURO/USD price is below 20, 50, & 100 EMA Currently Euro/usd price is below 20, 50 & 100 Exponential Moving Average which indicates the chances for short in 4 hours time frame, further today news for Core PPI and Fomc may direct the market for a long term momentum in short. The US Dollar (USD) is the world’s dominant currency and the Euro (EUR) is the second most-traded. As a result, business in EUR/USD accounts for almost a quarter of trading in global foreign exchange markets according to the BIS triennial report, which covers institutional trading. EUR/USD is a highly liquid pair.
Short
by OrkEye