Not all indicators are useful: most are not, and some are downright misleading. Previous posts and studies, such as LuxAlgo's(1), determined that effective indicators need to: 1) produce data to support the trader's decision-making process, not substitute it with automated strategies, 2) produce non-redundant infos. But how do you select indicators in practice?...
The last feature of the Bollinger Band involves a slight addition to the standard indicator. Another set of Bollinger Band is added, but this time, a 0.75 standard deviation is used (instead of the 2 standard deviations). The 0.75 standard deviations Bollinger Band is indicated by the black lines. Now, look at the space between the 2 standard deviations and...
The Bollinger Reversal is my absolute favorite and most valuable perspective of the Bollinger Bands. Have you ever - seen the price move strongly in a direction, but the moment you get into a trade, the price reverses almost immediately? or - held on to a profitable trade, hoping to hit a take-profit level, only to see your profits whittle away as the price...
A brief explanation of the Wyckoff Distribution Schematic on the 1hr Chart What is it? The distribution is sideways and a range-bound trading period. It usually occurs after a prolonged uptrend. This is the trading zone where big players build short positions or distribute long positions and wash out retail traders. How I personally apply it I typically...
A brief explanation of the Wyckoff Accumulation Schematic on the M15 Chart What is it? The Wyckoff accumulation phase is a sideways and range bound period that occurs after a prolonged downtrend. This is the area where larger players try to build positions. How I personally apply it I typically perform top-down analysis starting with the Daily chart and...
Remember from Part 1, that boxes - identify momentum - is trend-following - is reactionary, and does not predict or anticipate a move. In addition to using boxes to identify support/resistance levels, we can use boxes to identify breakout levels. Breakout levels are identified when the price breaks from a previous day's low/high. If the price breaks from the...
What is the Shooting Star Pattern? 1. A shooting star is a type of candlestick pattern which forms when the price of the security opens, rises significantly, but then closes near the open price. 2. The distance between the highest price of the day and the opening price should be more than twice as large as the shooting star’s body. What does Shooting...
Most people dive straight into trading without knowing how or why. They also don’t plan ahead. This is why most people are unsuccessful at trading. Having a well developed plan is KEY 🔑 to trading success! Let’s see what in must need in trading routine: 1. Trading Journal 📝 You won’t improve without a trading journal, your whole trading routine is built around...
Lines are one-dimensional figures that extend endlessly into a future and which connect the price segments on a chart. They are often used to determine a trend and particular support and resistance levels. Lines are easy to draw and use as technical tools. Over time, lines became implemented into various trading systems such as Andrews' Pitchfork and Gann Fan...
Hello everyone: 6 points I like to share on what you should consider in trading to make it as a career. 1. Trading is not a get rich quick scheme Contrary to what social media, scammers, fakers and fake trading gurus want you to believe, trading is NOT a get rich quick scheme. Those who believe such usually end up over trading, over leverage, blow accounts and...
Yesterday I published an Idea to buy BAT in deep I don't know how many of you guys got it, Our first target was filled yesterday now we are waiting for the second one What do you guys think after the second target we should sell or hold? I was checking the holders of BAT it is increasing and it's 443,370 less than 1 million Let me know your opinion guys. Good...
There are many people and many opinions in the market. There are those who criticize technical analysis, calling it superficial and even useless. There are those who consider technical analysis (TA) the holy grail that can bring huge profits. Today we will try to debunk 8 myths about technical analysis. myths 1. TA is for short-term trading or day trading...
Price Action Definition #2 Hello My Dear Traders... I Am A New Trader... Not Too Long In The Game... But Just Starting Out On Social Media To Help Grow Myself As A Price Action Trader I Am New To Trading View And I Am Hoping That I Can Fit Right In And Hopefully Make Some Great Educational & Analytical Content With Accurate And Understandable Information... Thank...
Price Action Definition #1 Hello My Dear Traders... I Am A New Trader... Not Too Long In The Game... But Just Starting Out On Social Media To Help Grow Myself As A Price Action Trader I Am New To Trading View And I Am Hoping That I Can Fit Right In And Hopefully Make Some Great Educational & Analytical Content With Accurate And Understandable Information... Thank...
In this video I show you how to properly use TradingView's Fibonacci Tools. Using gold as an example, we will go into the Fibonacci Retracement and the Trendbased Fib Extension Tool. Have a great evening and a profitable day. RT
EDUCATIONAL POST: (FVG - Fair value Gap) 📊📈 Let's take some time to explain a trading term I often use in my TA. 🤓 FVG - or Fair Value Gap (= inefficiency, void...) 👉 What they mean by that is an area of the chart where the price moved past in just 1 single candle, meaning the candle before + after haven't touched this area. 👉 This is how such a gap is...
Hello Everyone Today I give a free educational lesson on how to set up a basic TA for a long term timeframe. This includes how to set up your trend based Fibonacci retracement + extension, as well as how to draw in basic support and resistance zones. Tomorrow I will do a lesson on how to set up TA for a short term timeframe. Join our channels for more...
Hi guys Today I decided to start teaching digital currency And I will teach you the most important indicators and patterns that I use in my analysis. And in the first lesson I want to explain the philosophy of technical analysis And other courses including: ♦️ Session 1 - Philosophy of Technical Analysis , ♦️ Session 2 - Trends , ♦️ Session 3 - Support and...