I placed a buy order this morning on USDJPY after reviewing the chart with the 1H, 4H, and 1D MACD. It's gone up to the zone I've marked. My stop is at 113.503. I added the moon phase indicator as a quick shout out to @marenaltman
I marked a significant zone and did not see any solid pivots for a pitchfork but noticed a few reversal along a centerline so I used the regression trend tool and extended the upper and lower deviations to 3/-3. After placing the channel the centerline is not as visible as I thought. I'm mostly experimenting with the regression trend and watching for now.
I've been watching USDMXN for a couple months now, watching it play out this familiar pattern. After forming that slight curve and starting to consolidate at the bottom of the zone it may be time to open a long. What is everyone's opinion?
I like these clean pitchforks. If it reverts to the centerline I will enter a long if the volume looks good. I did have to search around for the first point to place on this Andrews Pitchfork. I think the false pivot I labeled doesn't work at the first point or any point in the pitchfork because it's just sort of a blip on the trend and not a true reversal. I'd...
This is a continuation of an earlier idea I kept private. I think GBPUSD will drop and test the lower zone I highlight before returning to the centerline and again testing the bottom of the pitchfork and lower zone. I will likely scale in at the lower zone with a stop loss under the pitchfork.
I do not hold any Shiba and have no plans to buy any. I just wanted to draw what I think are support lines and a significant zone. I think the ATH and price action immediately after was mostly a result of positive social media sentiment and retail chasing the meme coin aspect so it's a lot less significant for a long term support/resistance zone. The lines I...
I extended some lines out from from a few historical pivots and the recent supports/resistances seem to follow these extended lines pretty well. Will follow and see how it plays out.
I read more about the Andrews Pitchfork today on my flight. The simplicity of it draws me in. I looked at this daily USDJPY and recognized the trend and multiple pivots running along Line 1. While Line 2 does not have 3 or more touches, I would be surprised if the price does not bounce off of it in the next several months.
BINANCE:VETUSD After several months of the descending pitchfork, VET broke out and the pitchfork became resistance as seen in early December. I've been holding VET since 2018 and I'm not actively trading it. I will buy more when it follows the resistance line into Zone 2 with a take profit in Zone 1. I will consider this idea invalidated if it breaks below Zone...
I've been hesitant to try TA on Bitcoin. With the institutional interest growing over the last year I haven't made very many good calls, so this idea is entirely for entertainment purposes. I hope it generates some comments and conversation more than anything. I put a horizontal ray near $41000 after it switched from resistance to support in early January,...
I've held XYO since it was on Kucoin but this is the Coinbase chart. I'm waiting for it to test the zone at the bottom of the pitchfork to add to my bag and then revisit it.
First: Any constructive criticism is very much appreciated and helpful! :) So here I am, an absolute beginner with a couple crayons of knowledge: I just drew in what I observed to be wedges. The first a rising bullish wedge that continued to a bullish trend. That wedge was followed by a falling bearish(?) wedge. I thought a continuation pattern (bearish) was more...
HI EVERYONE!!! this is my long position 4hrs TF IDEA for GALAUSDT im using the fibo to find some entry and also use the support and resistance are for possible break out hope you understand my concept.. im just a beginner and base it only my learning.. feel free to comment or any suggestions to improve my trading learning.. thanks!!!!
On the EURJPY, 4H tf, there is an OB on the left where by the market just made a downfall. It may or may not hold, but will wait and see how the market will react to the OB. I'm not a financial advisor, I'm just learning like everybody else. Take risk based on your own MM, as every strategy is not perfect. If you have any other idea based on EURJPY trade, do...
As a SMC trader(still learning), there might be an opportunity for CADJPY to fall in this week. There is a 1 H OB on the left and it had created an area of imbalance. Let's see if the market will drop this week on CadJpy. I'm not your financial advisor please take risk based on your own MM, I'm just sharing my analysis.
After being stopped out in the previous trade, I've taken another short on CadJpy 4H time frame. There is a slight divergence and a 1H OB on the left, probably this is to grab liquidity as to why my previous trade was a lost.There is an reaction on the 1H OB, its as to why i've taken this trade. Any kind of strategy still face losses, include SMC, nothing has a...
Hi there, I'm still a learner in SMC and market structure, this is my last trade for the week on GBPCAD, Long on the 4H TF. Will hold it till probably next Tuesday-Wednesday. Hoping all is well in this trade, and happy weekend everyone. Do drop a comment down below based on any idea's or method of trading, I'm open to any discussion based on trading.
I'm taking a long trade on GBPCHF on the 4 hour tf due to divergence happening and it's near a support, lets see how this trade carry out. I'm still learning how to trade, do drop your idea and methodology on this trade.