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AUDUSD - Multi-Timeframe Analysis- 4HR Entry & Monitoring. LONGI have been watching this pair from last week; 26/10/2020. I have been motoring and awaiting confirmation from its reaction to a previous identified level of possible support around 0.70931. If price breaks it as resistance on its way up. So far I have seen evidence of a possible turn around from a bearish to a bullish market. I have set a BUY STOP ENTRY ORDER for just above the identified level at 0.70963. I am aware that this week with see a lot of noise and uncertainty from the US Elections.
Long
by geraldodiachiobb
Bullish Deep Crab (4H)“ The Deep Crab pattern evolved from two patterns (invalid Bat patterns and a specific type of Crab pattern). It was developed by Scott Carney as a further refinement of the basic structure. The Deep Crab is similar to the original Crab pattern, as it is a 5-point extension structure that utilizes exclusively a 161.8% XA projection for the defining level in the Potential Reversal Zone (PRZ).The difference can be found at the B point which must be an 88.6% XA retracement. In fact, the Deep Crab pattern usually possesses a B point that is beyond the 88.6% level but does not violate the initial point X. The 88.6% B point requirement is special to the Deep Crab. When the structure is in the midst of completing the CD leg, the violation of the B point AND the X point typically creates a situation of severe price action. In essence, the price action is violating two important prior support or resistance points. When this happens, the result is frequently a sharp move that quickly extends to the 161.8% XA projection. Another difference in the Deep Crab pattern is the AB=CD structure. The AB=CD pattern is a more important consideration in the Deep Crab, although the structure typically possesses the 127%AB=CD alternate variation it is common for these structures to possess equivalent AB=CD patterns in certain circumstances. ”
Long
by Cryptsyxalt
Bullish Shark PatternENTRY = 1.18213 STOP = 1.18494 TARGET = 1.17646 The Shark Pattern was initially released in 2011 by Scott Carney in his Patterns into Profits course. The pattern is the primary structure that precedes a 5-0 formation. This structure is outside the typical M and W framework. It possesses a unique formation called an Extreme Harmonic Impulse Wave that retests defined support/resistance while converging in the area of the 88.6% retracement – 113% extension of XC. In all cases, the completion point must include the powerful 88.6% support/retracement as a minimum requirement. In addition, the unique extreme Harmonic Impulse Wave employs a minimum 161.8% extension of the BC leg. This combination with the 88.6% retracement defines a unique structure that possesses two profound harmonic measures to define the minimum level. In many cases, the price action will retest the initial starting point of the pattern and define excellent opportunities to take advantage of a market that has moved to far too fast within a limited period of time. This pattern frequently defines excellent opportunities but these reversals are often sharp and require specific management strategies to capitalize on the phenomenon. In many situations, the price action will retest the prior support/resistance level and typically result in a limited counter trend move. Due to the Complexity of identifying The Shark pattern I have not and do not intend to publish a tutorial on this pattern. However should it be requested I will attempt to do so. Due to the fact this pattern is in general considered a precursor to the 5-0 pattern, closing a minimum of 50% of the position at the initial target is advised
Short
by Cryptsyxalt
Good r:r on long EURUSD positionprobable reversal point suggested by a 3 trendline intersection point, an RSI divergence and the base of a big Andrew's Pitchfork. Nice risk reward ratio since the SL will be positiond near a tiny swing low structure but the target is far away towards the center of the pitchfork and another 3 trendline intersection point, one being very important since it's the daily resistance (and it would make the third rejection, usally the most valid one). I think this would make a good trade as we wait for the major reversal on the upper daily resistance (see my previous post). Leave a like if you like...money. XD
Long
by PinkiePips
GBPJPY 4H ADX STRATEGYThe Best ADX Strategy The ADX indicator trading rules will ensure that you only trade when there is a strong trend on the 5-minute chart up to the daily chart. In this regard, the best ADX strategy is a universal strategy that performs the same, regardless of the time frame used. Moving forward, we’re going to look for selling opportunities. Step #1: Wait for the ADX indicator to show a reading above 25. Before we even look to see if the market goes up or down, we must first wait for the ADX indicator to show a reading above 25. Based on the ADX indicator trading rules, a reading above 25 is signaling a strong trend and the likelihood of a trend developing. We all know that the trend is our friend, but without real strength behind the trend, the newly trend formed can quickly fade away. In order to gauge the direction of the trend, we also need to look at the actual price action. This brings us to the next step of the best ADX strategy. Step #2: Use the last 50 candlesticks to determine the trend. For sell signals, look for price to develop a bearish trend. No matter of your time frame, we need a practical way to determine the direction of the trend. By using a sample size of 50 candlesticks to determine the trend we ensure that we trade in the moment of now. We like to keep things simple, so if the price is heading lower during the last 50 candlesticks we’re in a bearish trend. Step #3: Sell when the RSI indicator breaks and show a reading below 30. For our entry signal, we’ll be using the RSI indicator that uses the same settings as the ADX indicator settings. Normally the RSI reading below 30 shows an oversold market and a reversal zone. However, smart trading means looking beyond what the textbook is saying. In a strong trend as it’s defined by the ADX indicator that’s precisely what we want to see. We want more sellers coming into the market. So, we want to sell when the RSI indicator breaks and shows a reading below 30. Step #4: Protective Stop Loss should be placed at the last ADX high. In order to determine the stop-loss location for the best ADX strategy, first identify the point where the ADX made the last high prior to our entry. Secondly, find the corresponding high on the price chart from the ADX high and there you have it your SL level. Step #5: Take Profit when the ADX indicator breaks back below 25. The best ADX strategy seeks to only capture those profits resulted from the presence of a strong trend. Once the prospects of a strong trend fade away we look to take profits and wait for another trading opportunity. To accomplish this we take profits as soon as the ADX indicator breaks back below 25. An ADX reading back below 25 suggests the prevailing trend is running out of strength. Note** The above was an example of a SELL trade using the ADX indicator trading rules. Use the same rules but in reverse, for a BUY trade. Conclusion - ADX Indicator The best ADX strategy gives us very useful information because a lot of the time, we as traders don’t want to get into something that’s moving nowhere and not trending in a strong fashion. By applying the ADX indicator trading rules one can take advantage of the strength of the trend and cash in quick profits. The bottom line is that the best profits come from catching strong trends and the best ADX strategy can help you accomplish your trading goals.
by Tradingstrategyguides