I thought it would be fun to share a backtesting video. Video time is limited so I couldn't get a full session recorded. I know technical analysis is only part of the picture but this is a fun exercise.
I calculate the important lines of support and resistance in my own way. They are good for determining the end or beginning of new trends, as well as for intraday trading and swing trading. In any case, this is a very important confirming moment for my trading strategy. Try it and tell me your opinion. Thank! TICKER S3 S2 S1 Pivot Point R1 R2 R3 EUR/USD 1.072...
Beginner Technical Analysis 101 - Support and Resistance. When you are first learning to trade, the charts can seem very daunting. I wanted to share with you a quick lesson in market structure that will help you understand a few things. You know how you don't see any nice cars around until you buy a nice car, and then they are everywhere? Actually they were...
----------------------------------Support And Resistance – The House!---------------------------------- Support and Resistance explanation: Imagine that you are looking at a vertical cross-section of an "Old fashioned dolls house " which is shown in the schematic. Now you can see all the floors and ceilings in the house, and as you can see here we have a...
Corona took a hard hit on the market. Lets watch these next levels.
Hello traders! Today we will talk about USDCHF in which we see an interesting wave structure. USDCHF is trading in a big sideways range since 2015 and more and more looks like a big bullish triangle formation in wave (B) that can be approaching the end soon, ideally this year in 2020. We see it actually in the final stages of subwave E of (B), which is clearly...
This is a show up!!! It's so beautiful and modern when I will go to make a backtesting only analyzing in the past time.
TIP: Did you know that you can watch the price, volume and orderbooks (bids and asks) fluctuate on a bag of 10 different stable coins on our stable coin index @ vcdepth.io - This really helps to see when money is flowing in and out of the sidelines. This chart depicts how I see trends and its applicable to almost any chart. I see an intersecting graph paper...
This is a good example of using support to your advantage when trading. If you look at the two highlighted areas at support price created bullish engulfing candles. It was a matter of time before price was going to take off. Finally price slow down giving some consolidation this could be a potential entry for a buy. Been able to secured an overall of 160 pips...
Hello traders! Today we will talk about cryptocurrencies and their current decline. Let's start with Bitcoin against the ALTs dominance. BTC was losing its dominance against the ALTs since the beginning of September that can be clearly seen in the BTC.D/OTHER.S chart, but as you can see a decline was corrective only in three waves a-b-c, ideally in wave 4, which...
Basic charting skills for novice traders Understanding Support and Resistance levels are a fundamental part of learning how to chart and trade. It's the most basis concept but plays a tremendous role in technical analysis. When one has a good understanding of support and resistance levels, he/she can start trading S/R flips. Which is a relatively easy...
Hello traders! After that deeper corrective decline called double zig-zag W-X-Y pattern on Bitcoin , it's time to take a look at potential support levels. We decided to take a look at Bitcoin dominance ( BTC .D) against the ALT dominance (OTHERS.D), where we clearly see a corrective decline in wave 4 that can find support soon, ideally around previous wave »iv«,...
Hi @FollowMyForex fans! After our last update, all our targets were hit netting us a nice profit of +43 pips. By actively managing the position we were able to identify a change in the market momentum, adjust accordingly and take full advantage of it! Gotta love it when a plan works out like this ;) On to the next!
In a strong trending market like GAS currently in, support and resistance flip happens very often. Although other chart setups might not be as clean as this example, this technique can be used for all markets. Broken Support turns into Resistance. Broken Resistance turns into Support. So how do we determine if a Support has been broken or not? 3 ways to view...
Hi ladies. If you are using tons of tools to identify supply/support and demand/resistances zones. STOP. All you need is to apply this simple approach using past price action. Switch to line chart on M, W and Daily timeframes and identify the Lower closes where price bounces. Map the zone to the left et voila. All these zones are likely to represent...
This is a great example of how resistance often becomes support (and vice versa) with multiple tests of both. It is always worth extending trendlines beyond current price action. It is very common to see a break through support or resistance come back and retest the same trendline from the other side.
Hello everyone! Thanx for subscribing on my channel. Today is my first educational video. I hope to hear a feedback about it! If it's interesting for you I will continue to make it! Like my video if you enjoying it! Have a good one!
Support, a market position where a downtrend will be obstructed by a historical price level that establishes a demand zone. Resistance, a market position where an uptrend will be obstructed by a historical price level that establishes a supply zone.