Jump to content

Technical Analysis


Recommended Posts

Hi ,  are you sure swing trading is not just about catching the 'swing', no matter the time frame whether it be 1 hour or 1 month, or whether it be based on Elliott wave ABC, or even just 'buy the dip'. As an intraday trader I am always looking for swings, it is the rhythm of the auction.

 

There are only trend followers (as am I) or reversal (counter trend) traders who are looking at predefined levels for price to reverse at, but trend followers are by far the majority.

 

The interesting point of the blog was drawing attention to a potential price action signalling to a turn of swing and entry to join a continuation with trend.

 

The inside bars show indecision similar to a doji but the twin tails show a real attempt to drive to new direction, if that tight tight grouping of price action (in that particular situation) is overwhelmed (by bulls or bears) it is a good indication to the direction of next leg. 

 

I was happy to post it as I recognised it to have validity based on my own experience and is well worth to experimenting with by traders on all time frames. 

Link to comment

Fair enough, I think essentially we all trade the same way which ever time frame you choose. Investors buy and hold but traders buy and sell and so would aim to buy low and sell high, during a trend that means taking advantage of the down swings in order to ride the upswings but each time frame has it's own rhythm within the large scale swings that can be seen on a monthly chart. The time frame a trader uses depends very much on circumstance and preference.

 

Counter trend traders are also trying to buy low and sell high by using higher time frames to identify potential turn points that have been used in the past by institutional traders and where unfilled orders may still exist, a large clump of waiting orders on a price ladder is support or resistance.

 

For any new traders reading, this is an interesting piece on choosing which time frame suits best, 

 

https://www.tradeciety.com/best-timeframe-trading/

 

 

 

 

Link to comment
  • 4 weeks later...
Guest PandaFace

What are people’s thoughts on technicals for ether? How would you attack it? Let’s say on the following timeframes

 

1 hour

4 hour

Daily

Link to comment

Firstly I would keep a sharp eye on btcusd, the correlation has been noted before on another thread and looking at the two charts side by side that correlation continues, looking at individual large bars btc still leads the way though the gap has narrowed.

 

The 4 hour is still below the 100 and 200 ordered ma's so the general outlook must be bearish, price is currently retesting a strong support/resistance level so watch for a possible turn around here.

 

The 1 hour shows price attempting to break up past resistance but still trapped below the 200 ma and also between two mini range blocks so has a lot of work to do yet if it's to continue up.

 

The general bias must remain bearish at least until a break above 616 but if btc turns down this looks sure to follow.

 

 

B&E1day.PNGETHUSD(£)H4.pngETHUSD(£)H1.png

Link to comment
Guest PandaFace

I think you’re right. BTC continues to dominate.

 

From ETH perspective on the daily you have the 20 EMA moving through both the 50 and 100, and it’s honing in on the 200 real quick. The 50 is basically kissing the 100 as well right now. Not good.

 

However rsi is sat below 30, and MACD at -80.

 

On the 1H were about at the spike down back from Feb 6th, retested on 15 Mar so it would be good to break here and get back to the mid 600’s range.

 

If not I’d settle for the consolidation back in the 800 - 900 range ;)

Link to comment
  • 2 weeks later...
  • 3 weeks later...
Guest EA-trader

Why are these people not making money from trading? Why are they selling education?The only money these people are making is from selling courses on their site.If they can't do it, how can new traders do it?

 

 

All these educators failed at trading themselves, due to trading mindsets.No point in trying to  hide the truth.

Link to comment
Guest EA-trader

Hide the truth and sell education. I pity the poor suckers who go to charlatan educators.

 

You can't even answer that .The only book I recommend to traders  is"death of a snake oil salesman".It is must buy for new traders.

Link to comment

Archived

This topic is now archived and is closed to further replies.

  • image.png

  • Posts

    • EURGBP Elliott Wave Analysis Trading Lounge Day Chart,     Euro/British Pound(EURGBP) Day Chart   EURGBP Elliott Wave Technical Analysis FUNCTION:  Counter Trend                           MODE:Corrective                           STRUCTURE: red wave B                           POSITION: blue wave X                         DIRECTION NEXT HIGHER DEGREES:red wave C of X                           DETAILS: red wave b of blue wave X looking still is in play as triangle .. Wave Cancel invalid level: 0.85001                 The EUR/GBP Elliott Wave Analysis for the day chart provides a comprehensive overview of the potential price movements for the Euro against the British Pound, utilizing Elliott Wave principles for technical analysis.   Identified as a "Counter Trend," the analysis indicates that the current market direction opposes the prevailing trend. This suggests that the EUR/GBP pair may be undergoing a temporary corrective phase, providing opportunities for traders who anticipate a reversal in the broader trend.   Described as "Corrective" in mode, the analysis suggests that the ongoing market movement exhibits characteristics of a corrective wave. This implies that the current price action may represent a temporary retracement or consolidation within the larger trend, rather than a continuation of the primary trend.   The "STRUCTURE" is labeled as "red wave B," providing clarity on the current phase of the Elliott Wave cycle. This helps traders understand the nature of the corrective movement and its potential implications for future price action.   Positioned as "blue wave X," the analysis highlights the specific phase of the Elliott Wave cycle within the current corrective movement. This indicates that the market is 2 / 2 currently in a corrective phase following the completion of a previous wave cycle, potentially indicating a complex correction pattern.   In the "DIRECTION NEXT HIGHER DEGREES" section, the analysis mentions "red wave C of X," suggesting the anticipated direction for the subsequent higher-degree wave within the Elliott Wave cycle. This implies that the market may experience another corrective phase following the completion of the current corrective wave, providing insights into potential future price movements.   The "DETAILS" section notes that "red wave b of blue wave X looking still is in play as a triangle." This suggests that the ongoing corrective wave may be taking the form of a triangle pattern, characterized by overlapping price movements and diminishing volatility. Additionally, the wave cancel level is identified at 0.85001, providing a reference point for invalidating the wave count. Traders can utilize this information to evaluate potential trading opportunities and manage risk effectively.         EURGBP Elliott Wave Analysis Trading Lounge 4 Hour Chart,     Euro/British Pound(EURGBP) 4 Hour Chart   EURGBP Elliott Wave Technical Analysis FUNCTION: Counter Trend                           MODE:Corrective                           STRUCTURE: red wave B                           POSITION: blue wave X                         DIRECTION NEXT HIGHER DEGREES:red wave C of X                           DETAILS: red wave b of blue wave X looking still is in play as a triangle . Wave Cancel invalid level: 0.85001                         The EUR/GBP Elliott Wave Analysis for the 4-hour chart provides insights into the potential price movements of the Euro against the British Pound, employing Elliott Wave principles for technical analysis.   Identified as a "Counter Trend," the analysis suggests that the current market movement opposes the prevailing trend. This indicates that the EUR/GBP pair may be undergoing a temporary corrective phase against the dominant trend direction, presenting potential trading opportunities for contrarian traders.   Described as "Corrective" in mode, the analysis indicates that the ongoing market movement exhibits characteristics of a corrective wave. This suggests that the current price action may represent a temporary pause or retracement within the broader trend, rather than a continuation of the primary trend.   The "STRUCTURE" is labeled as "red wave B," providing clarity on the current phase of the Elliott Wave cycle. This assists traders in understanding the nature of the corrective movement and its potential impact on future price action.   Positioned as "blue wave X," the analysis highlights the specific phase of the Elliott Wave cycle within the current corrective movement. This suggests that the market is currently in the corrective phase following the completion of a previous wave cycle, potentially indicating a complex correction pattern.   In the "DIRECTION NEXT HIGHER DEGREES" section, the analysis mentions "red wave C of X," indicating the anticipated direction for the subsequent higher-degree wave within the Elliott Wave cycle. This suggests that the market may experience a subsequent corrective phase following the completion of the current corrective wave, offering insights into future price movements.     The "DETAILS" section notes that "red wave b of blue wave X looking still is in play as a triangle." This suggests that the ongoing corrective wave may be taking the form of a triangle pattern, characterized by overlapping price movements and diminishing volatility. Additionally, the wave cancel level is noted at 0.85001, serving as a reference point for invalidating the wave count. Traders may use this information to assess potential trading opportunities and manage risk accordingly.   Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here!      
    • Elliott Wave Analysis TradingLounge Daily Chart, ChainLink/ U.S. dollar(LINKUSD) LINKUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Zigzag Position: Wave C Direction Next higher Degrees: Wave (I) of Impulse Wave Cancel invalid Level: 8.498 Details: the corrective of Wave (II) is equal to 61.8% of Wave (I) at 8.702 Log scale chart ChainLink/ U.S. dollar(LINKUSD)Trading Strategy: The second wave correction is likely to go down to test the 10.585 level before rising again in the third wave. Therefore, the overall picture is a short-term pullback to continue rising. Wait for the correction to complete to rejoin the trend. ChainLink/ U.S. dollar(LINKUSD)Technical Indicators: The price is above the MA200 indicating a Downtrend, The Wave Oscillator is a Bearish Momentum. Elliott Wave Analysis TradingLounge H8 Chart, ChainLink/ U.S. dollar(LINKUSD) LINKUSD Elliott Wave Technical Analysis Function: Follow Trend Mode: Motive Structure: Impulse Position: Wave 5 Direction Next higher Degrees: Wave ((C)) of Zigzag Wave Cancel invalid Level: 81.238 Details: The Five-Wave Decline of Wave ((C)) trend to test 11.582 Level ChainLink/ U.S. dollar(LINKUSD)Trading Strategy: The second wave correction is likely to go down to test the 10.585 level before rising again in the third wave. Therefore, the overall picture is a short-term pullback to continue rising. Wait for the correction to complete to rejoin the trend. ChainLink/ U.S. dollar(LINKUSD)Technical Indicators: The price is above the MA200 indicating a Downtrend, The Wave Oscillator is a Bearish Momentum. Technical Analyst : Kittiampon Somboonsod Source : Tradinglounge.com get trial here!          
    • ASX: MINERAL RESOURCES LIMITED – MIN Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart)   Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with MINERAL RESOURCES LIMITED – MIN. We determine that MIN may be correcting with wave ((2))-red for a while longer, after which wave ((3))-red may return to continue pushing higher.     ASX: MINERAL RESOURCES LIMITED – MIN Elliott Wave Technical Analysis   ASX: MINERAL RESOURCES LIMITED – MIN 1D Chart (Semilog Scale) Analysis   Function: Major trend (Minuette degree, purple) Mode: Motive Structure: Impulse Position: Wave ((3))-red of Wave iii-blue of Wave (iii)-purple Details: The shorter-term outlook indicates that both wave (1)-blue and wave (2)-blue have concluded, with wave (3)-blue initiated since the low at 52.52. The anticipated direction is upwards, initially targeting 75.23, and a break beyond this level would extend towards 84.03, while maintaining levels below 65.36 is a significant advantage and a strong resistance level for this perspective. Invalidation point: 61.00         ASX: MINERAL RESOURCES LIMITED – MIN Elliott Wave Technical Analysis TradingLounge (4-Hour Chart)   ASX: MINERAL RESOURCES LIMITED – MIN Elliott Wave Technical Analysis ASX: MINERAL RESOURCES LIMITED – MIN 4-Hour Chart Analysis   Function: Major trend (Minuette degree, purple) Mode: Motive Structure: Impulse   Position: Wave ((3))-red of Wave iii-blue of Wave (iii)-purple Details: The further short-term outlook shows that wave iii-blue is unfolding, and it is subdividing into wave ((1))-red, and perhaps it has recently peaked, now is the time for wave ((2) )-red opens to push lower, it may find support around 66.78 - 65.36, and after it ends, wave ((3))-red may return to push even higher .   Invalidation point: 64.82       Conclusion:   Our analysis, forecast of contextual trends, and short-term outlook for ASX: MINERAL RESOURCES LIMITED – MIN aim to provide readers with insights into the current market trends and how to capitalize on them effectively. We offer specific price points that act as validation or invalidation signals for our wave count, enhancing the confidence in our perspective. By combining these factors, we strive to offer readers the most objective and professional perspective on market trends.   Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation).
×
×
  • Create New...
us