Here is a short trade set-up for DEXEUSDT. Entry: 20.85 SL: 23.35 TP1: 12.50 TP2: 7.50 Given the significant price movements, be prepared for potential volatility. Implement a stop-loss order to mitigate potential losses. For long positions, a stop-loss below the identified support level is advisable. For short positions, a stop-loss above the recent high can help manage risk.
This is my current view on XAGUSD. I have a trade running which has a lose target starting around $36, but will be subject to change as the price action develops. I'm in silver for the chance that we see much higher prices than that!!. Trading spot is a small part of my exposure to the silver sector.
The market will go up for the next 3 more days. I am using the Heikin Ashi candlesticks. Why Heikin Ashi candlesticks? 1) They show more of a directional movement within candlesticks. 2) They tend to filter out the market noise so you can see the market direction better. 3) It reduces false signals, allowing you to stay in the trade longer. 4) And, it gives you a smoother appearance making it easier to see trends and reversals. (This information is from Dr. Keith Wade who speaks at the Wealth365 Summits.) Typically, I would wait until there are 2 green Heikin Ashi green candlesticks before entering. I still tend to switch back and forth between Heikin Ashi candlesticks and regular candlesticks since regular candlesticks are what I am familiar with and have been using since I started trading. I use the MacD, the Stock RSI and the DMI to assist me with the direction of the market. I am not perfect at them. I will hopefully try to explain these in future trading charts. I personally find: * the 5 minute indicators typically represents what will happen in the next half and hour. * the 10 minute indicators typically represents what will happen in the next hour. * the 30 minute indicators typically represents what will happen in the daily. * and, the hour indicators typically represents what will happen in the next week. I am anticipating a bull trend for the next few days as the 30 min, 1 hour, 2 hour, 3 hour and 4 hour indicators are already looking bullish. I have a few targets. In the past I have said the market is usually moving about 34 points, but I think it will make a less of a move this time due to the Stock RSI only being slightly lower as it is not starting close to 0. If you look at some of the past moves, the market moved around 20 points such as from July 1 to July 16, Oct 7 to Oct 17 and Nov. 20 to Dec 6th. As well, if you look at the Stock RSI on the daily charts, it has only declined a little. So even if it turns soon, it only has a little way to go upward. As well, it is hitting a resistance around 610. I think the market will bounce back and forth between 610 and 590 for a few more weeks. Typically, I would wait until there are 2 green Heikin Ashi green candlesticks before entering. The targets I have in place are: 20 point move = 610.42 1 Fibonacci move = 610.59 5 day move = Feb 7 If it hits one of these targets, I am out of my trade. And I will even shave a little off, so if it hits 609, I will be out. My stops are: 1) the low of the previous Heikin Ashi candlestick, 2) 2 red Heikin Ashi candlesticks, 3) a specific dollar amount for a total loss for my trade or 4) a specific dollar amount per contract. If it hits one of those stops, I am out of my trade. Lastly, I believe tomorrow it may go lower as I find the 3rd day typically moves sideways or goes lower. And some of the shorter term indicators are looking weak. I really encourage you to draw a chart yourself. The first chart is the most nerve racking, but I have learned the most through drawing charts. I am trying to take trading classes through Udemy, mostly because they are cheap. LOL! I usually wait for a sale where the courses are as low as $14.99 instead of over $100 per course. They have sales a few times per year. Just keep checking the website. I am NOT affiliated with this company in any way. I am just trying to tell you where I have found cheaper courses online to learn more. https://www.udemy.com/ I always try to attend Wealth365 Summit which is held about 4 times a year where I always pick up some more useful information. Again, I am not affiliated with this company in any way. https://www.wealth365.com/ My chart is not guaranteed and I am still learning. Trade at your own risk. Happy trading everyone!
LQ drain down to red box support then quick reversal. On the 15, flashing bullish 200ma crossover. Possible retest back to $0.04 RSI & MACD showing bullish
Yesterday's candle nullifies the action that happened between 30-Dec. and 16-Jan. Technically speaking, this means that XRPUSDT is as good as sideways. We can consider the action from 1st December 2024 until present day as sideways, based on yesterday's (3-Feb.) candle. That's a sideways market for 64 days. Where does this leaves us? What to expect now? Expect the same dynamics as before. More sideways. More consolidation. Initially with a downward bent. XRPUSDT moving lower, but this isn't negative, this is just part of a period of rest before maximum growth. Just watch! Anything can happen short-term, but ultimately the market will grow. Growth is not far away, it is actually very close. We are so close now, we are only weeks away. At first, it will be slow but still up. Then speed will be gained. As we gain speed bullish momentum will continue to grow. There will be new participants joining the market, positive news and additional growth. By mid-March 2025, no doubt will be left and at this point everybody will know. Everybody will know what is happening, everybody will know that the bear-market has been over for a long while; look at the chart, prices are ultra-strong after a very strong bullish wave. Patience is key, but, let me explain the action. XRP is loading up. XRP is preparing. The bulls are resting in order to gain strength. After a long and much needed nap, let's call it consolidation, we will move to produce an even stronger bullish wave. It will be the biggest since 2017 for XRPUSDT. Don't miss it. It will be great. How far up will it go? We have many projections from late 2024 to answer this question. There is truly no limit as we will enter price discovery in a matter of months. Once in the price discovery phase, XRP can top at $14 just as it can reach $30. Thank you for reading. Namaste.
The moves are on FIRE!!! Looking for the bullish momentum to continue. Price has moved above the previous daily level and the area is starting to hold. As we push up I'm looking for a entry inside of the Asian session's Kill zone.
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CRYPTOCAP:BTC update before bedtime, plus a couple of thoughts that I didn’t fit into my last post. First of all, the GETTEX:97K seems to be holding strong. Perfect retest of that lower trendline, to the T. You can zoom in—I love this kind of thing, but I could be perverted in this aspect. Too much charting, perhaps. ? Now, if you zoomed in, look to the right where those horizontal red & green stripes are. That’s VRVP—they show how much trading has been done at each level. The bigger they are, the more trading. This means support. Lots of support at the current levels. But, if Bitcoin loses this level, the last serious support is expected at $94.5–$95K. Lose that, and we revisit $91K or worse, because the recent flash crash swept all liquidity down there. So, from the Market Maker’s perspective, it would make sense to use the panic and push prices to the mid-$80Ks. That would be some payday for Smart Money—and for all the exchanges. So, the $95K– GETTEX:97K zone is crucial. Prepare accordingly. And watch that DXY—it’s at 108 right now, so looking okay, but if it starts flying, we’re in trouble. RSI is right at key support as well. In other news, FTX will pay back $16 billion to customers mid-Feb. And February is a brilliant month for CRYPTOCAP:BTC , in case you’ve forgotten. And one more important headline that I consider a game-changer for this industry—read the tweet from Eric Balchunas. The war on crypto is OFFICIALLY over in the US. Stuff like this is what makes me bullish on crypto, no matter how bad the market sentiment is at this moment. ?? I publish my stuff regularly on Binance SQUARE, more images are allowed there, and no cap on a number of posts/updates, unlike here. Check it out: app.binance.com/uni-qr/cpro/Square-Creator-52b223424?l=en&r=81770287&uc=app_square_share_link&us=copylink
Good morning fellow traders. On my Daily Forex charts using the High Probability & Divergence trading methods from my books, I have identified a new trade setup this morning. As usual, you can read my notes on the chart for my thoughts on this setup. The trade being a GBP/CAD Sell. Enjoy the day all. Cheers. Jim