Took successful buys on gold after price broke resistance, waited for a pullback and entered anticipating price to move up with Asian volume. Looked to target a 4hr wickfill and stops were placed below the previous 30m candle.
In forex trading, currency correlation and diversification strategies are vital tools for managing risk and optimising returns. This article explores the nuances of these techniques, providing traders with insights to navigate the forex market effectively using currency correlation. Understanding Forex Correlation and Diversification In forex trading,...
Introduction In the complex and multifaceted world of economic indicators, initial jobless claims hold a special place. As a measure of the number of individuals filing for unemployment benefits for the first time, this statistic offers a real-time glimpse into the health of the labor market, which in turn is a vital component of the overall economic landscape....
All participants in forex trading sooner or later leave an open position overnight. Most often, beginners do not have access to impressive sums of money as initial capital, so they actively use leverage. Although it carries a lot of risk, it gives an opportunity to earn good money trading currency pairs in a relatively short period of time. Around midnight,...
Lesson 5 - The Importance of Confluence This video explains what is confluence in trading, identifies confluence structural elements and provides guidance on how to put all the pieces of the puzzle together to increase trading success rate.
Mastering the Art of Identifying Support and Resistance Levels in Forex Trading 📈💰 ✅In the world of forex trading, support and resistance levels play a crucial role in understanding market dynamics and making informed decisions. These key levels indicate areas where the price of a currency pair is likely to encounter obstacles, either in its upward or downward...
Ethereum Classic (ETC) and Ethereum (ETH), two prominent cryptocurrencies, often find themselves compared due to their shared history. An intriguing aspect of their comparison is the formation of a similar liquidity pool from below, providing valuable insights into their respective price actions. 📉 Common Liquidity Pool Formation: Both ETC and ETH experienced the...
The world of trading is filled with risks, challenges, and opportunities. As traders navigate the ups and downs of the markets, it's essential to have a strong set of principles and beliefs to guide their actions. The Trader's Credo serves as a useful reminder of these core values, helping traders stay focused, disciplined, and committed to continuous growth. ...
1 - Bearish Divergence An indicator such as the RSI showing bearish divergence can confirm the weakening of the bullish trend. 2 - Volume Analysis An increase in selling volume following the second peak reinforces the potential bearish reversal. 3 - Support Breakdown A decisive breakdown below the support level confirms the validity of the...
Weekly Backtesting On gold:--Has seen shiftiing bears from monday open to form the 1st leg of W formation. On Thurs CPI new form the prev High of The Week. And fridy The highest HIgh
Going over market theory of time and space and how price books based of time and inefficiency not just price movements and patterns
This trading strategy was initially popularized by an infamous trader who is also the founder of the Inner Circle Trading (ICT) method which is claimed to be the evolved version of the SMC. Let’s first take a look at the building blocks of this trading strategy and compare it with the well-known trading concepts by industrial titans (Dow, Wyckoff,...
This is a trade breakdown of a trade I took using ICT Judas Swing Strategy during London Kill Zone. I hope you enjoyed it. For private mentorship, pls Dm.
For me it's important to keep a macro picture in mind to set the context around my trading. What is going to drive everything this year is what happens to the USD. Will the FOMC cut rates? Is the economy as strong as it seems? Are things shaky under the surface? No matter what happens in the US economy, it'll be caught by this chart. You could use the...
Introduction In the world of stock trading, trend lines are vital tools for investors and traders alike. Mark Minervini, an acclaimed swing trader, is known for his strategic use of trend lines in assessing the strength of stock movements. This article delves into Minervini's approach, highlighting how he utilizes trend lines to identify optimal trade entries...
A lot of people see a Bitcoin pullback, a drop or a red candle as a negative thing. Clearly this is lack of experience, lack of understanding and only ever seeing re-assurance of the one bias they can comprehend. Many people believe my posts to be negative or anti Bitcoin - you could not be more wrong, as a very early holder, I simply don't care - up down or...
The only thing constant about financial markets is that they change. And since 2007 or so, with the higher availability of trading different instruments and markets world-wide. And not to mention, the ability to go long (buy) and go short (sell). Yes, these everyday possibilities were difficult to find and trade back then. Now I’m speaking my age in the...
Currency carry trades offer a unique opportunity in the financial markets, leveraging differences in interest rates across countries. This strategy, while potentially lucrative, also involves the increased risks, requiring precise navigation of currency pairs, interest differentials, and market trends. In this article, we break down its nuances, offering tailored...