Hi, Ivanyo. I have been working with the price action, analyzing the exhaustion of trends, and entering the beginning of the new trend. For this, lines of trend and areas of support and resistance are marked.
Harmonic patterns are part of my analysis.
Hello everyone. New open operation in eur-usd. Price broke the bracket, now new resistance. Also trend line, this is a clear example of depletion of bullish trend, and possible beginning of downtrend. Good trading at all.
I meant to post this yesterday showing a sell fib has formed on the daily chart. Then I noticed that the D fib ext had been hit on the 1 hour chart so I'm waiting for a retracement on the one hour chart before I re enter.
And bitcoin not to mention, after making this envoy candle, was the entry point. Congratulations to those who took advantage of these clear opportunities. I could not see the market these days.
NEW APPROACH OF THE PRICE ACTION: 2018-05-27
Price action is a very broad issue, and there are several ways to approach it. But as the big say, the origin of any movement that wants to make the price, is reflecting in the footprint that has left the same price in previous tours.
The objective in future is to consolidate knowledge of the action of the price, having as a base the concepts that the price moves in two unique states: expansion and compression.
Spansion occurs when the price advances in one direction, either up or down.
The compression occurs when the price recedes in the opposite direction to the expansion.
With these two basic concepts we start our analysis and how better is an image that a thousand words I invite anyone who wants to contribute their knowledge to this topic, in order to improve among all our trading.
We will look for a maximum recoil of up to 50% fibonaci, and when you find a candle that from a bullish signal we will enter in longs to look for a new price expansion.
PRICE ACTION. COMPRESSION SPANSION AND THE 1-2-3 Hello everyone. My purpose with this thread is to remember once again that there is no more accurate indicator than the same PRICE ACTION. There are patterns of candles such as double-roof, triple-roof, shoulder-head and other more that help identify a depletion of the current trend and the beginning of a new trend. It is clear that to find a trend change, the current price chart must be trend, otherwise there would be a change in trend. For this type of analysis we will only use support and resistance...
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woud you mind to share your template and indicator cesar8? we'd like to try the way your chart shown.
{quote} woud you mind to share your template and indicator cesar8? we'd like to try the way your chart shown.
Ignored
Hello ekoveadvisor. Really do not need indicators as such, for the case of the EUR-USD graph in time frame dia I have marked the highest minimum, to be attentive if the price makes a recession of more than 50% of the bearish expansion path. If this happens, we might think that the price is starting a change from bearish to bullish trend. To identify how big the recession we use the fibonacci tool that identifies the setbacks very well.
Attached template used, but has no extraordinary indicator, I am convinced that the best indicator is the price itself and in analysis of the candles, the volume shown here indicates at what time the price has a greater flow of buyers and sellers, but this applies for time frame of 4h down.
Analyzing the graph in day, it was not clear short entry for Monday for two situations. The first because on Friday the price did not close with a good bearish candle, we wanted an emboldering candle, which indicated strength down, as if to show that the price wanted to go down, and weaken that bullish candle that did the day Wednesday, which was an embolus candle with great force.
The weekly gbp-usd presents two situations to analyze. The first is that the price reached a support area and stopped. The second is that the closing of the weekly candle clearly left a bullish hammer figure.
Therefore, it is expected that the price will be reversing next week.
In time frame day the gbp-usd presents a bullish candle with bullish strength at the end of Friday, after testing the weekly support.
With this I'm going bullish on Monday with the goal of reaching 1.3480
The EUR-AUD day shows that it went back a little over 61.8% and closed with a candle that shows bearish strength, a large wick and more than 50% of the previous candle.
A follow-up to the bearish trend is foreseen, aiming to reach 1.5230 during the following week.
