Rise and shine, traders! Start your day with actionable Nasdaq insights. Let's grow your skills together, one chart at a time.
Daily Retracement Into HL Sell Setup as High Risk Trade Setup Explanation: - HH Formation Confirmed with - LTF Bearish BOS - POI Above 50% Zone(Sellers Control) - Imbalance still need to be mitigated
A descending triangle pattern was form. Descending triangle typically signals a downward breakout. Sell trigger: Closes below 263. Potential take profit target around 180. You may take profit anytime. Stop loss: If the breakout is downward, do stop loss when the prices pull above 263.
? ? ? Asset: LFMD/USD ? Timeframe: 30-Min Chart ? Setup Type: Bullish Triangle Breakout ? Trade Plan (Long Position): ✅ Entry Zone: Above 7.97 USD (Breakout Confirmation) ✅ Stop-Loss (SL): Below 7.55 USD (Breakout Invalidated) ? Take Profit Targets: ? TP1: 8.52 USD (First Resistance Level) ? TP2: 9.11 USD (Extended Bullish Target) ? Risk-Reward Ratio Calculation: ? Risk (SL Distance): Below 7.55 USD ? Reward to TP1: 8.52 USD ? Reward to TP2: 9.11 USD ? Technical Analysis & Strategy: ? Breakout Confirmation: A strong push above 7.97 USD signals bullish momentum. ? Pattern Formation: Bullish Triangle Breakout, indicating a potential upside continuation. ? Key Support & Resistance Levels: ? 7.55 USD – Strong Support / Stop-Loss Level ? 7.97 USD – Breakout Zone / Entry Level ? 8.52 USD – First Profit Target / Resistance ? 9.11 USD – Final Target for Momentum Extension ? Momentum Shift Expected: ? If price stays above 7.97 USD, it could rally towards 8.52 USD and 9.11 USD. ? A high-volume breakout would strengthen the trend continuation. ? Trade Execution & Risk Management: ? Volume Confirmation: Ensure strong buying volume above 7.97 USD before entering. ? Trailing Stop Strategy: Move SL to entry (7.97 USD) after TP1 (8.52 USD) is hit. ? Partial Profit Booking Strategy: ✔ Take 50% profits at 8.52 USD, let the rest run to 9.11 USD. ✔ Adjust Stop-Loss to Break-even (7.97 USD) after TP1 is reached. ⚠️ Fake Breakout Risk: If price falls below 7.97 USD, wait for a retest before considering re-entry. ? Final Thoughts: ✔ Bullish Setup – Holding above 7.97 USD could lead to higher targets. ✔ Momentum Shift Possible – Watch for volume confirmation. ✔ Favorable Risk-Reward Ratio – 1:1.13 to TP1, 1:2.46 to TP2. ? Stick to the plan, manage risk, and trade smart! ?? ? #StockTrading #LFMDUSD #BreakoutTrade #TechnicalAnalysis #MarketTrends #ProfittoPath #DayTrading #MomentumStocks #SwingTrading #TradingView #LongTrade #TradeSmart #RiskManagement #StockBreakout #Investing #StockAlerts #ChartAnalysis ??
The recent performance of TVC:GOLD has been spectacular. It seems, the precious metal can't find a ceiling. MARKETSCOM:GOLD has a good chance of travelling towards the psychological 3000 mark. Let's dig in! 74.2% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Past performance is not necessarily indicative of future results. The value of investments may fall as well as rise and the investor may not get back the amount initially invested. This content is not intended for nor applicable to residents of the UK. Cryptocurrency CFDs and spread bets are restricted in the UK for all retail clients.
GBPUSD did dirty me this week. The structure has been broken in 4H(strong)time frame, in that case i'll short from here. Let's see what market have to offer us today , BIG SHORT . GL traders Not financial advice.
How Do Traders Spot and Use the Dragonfly Doji Candlestick Pattern? The dragonfly doji candlestick pattern holds intrigue and fascination for traders in financial markets. Its distinct shape and positioning on price charts make it a keen subject for observation and analysis. In this article, we will explore this setup, its significance, and how traders use it in their trading strategies. What Does a Dragonfly Doji Mean? The red or green dragonfly doji is a candlestick pattern that forms when the opening, closing, and high prices of an asset are equal or almost equal. This formation resembles the shape of a dragonfly because it has an extended lower shadow. It provides bullish signals and is considered a neutral pattern as it provides continuation and reversal signals, depending on its context within a trend. The meaning of a dragonfly doji is that there is uncertainty in the market, and traders are prompted to carefully analyse other factors before making trading decisions. Traders may find the dragonfly doji pattern on charts of different financial instruments, such as currencies, stocks, cryptocurrencies*, ETFs, and indices, regardless of the timeframe. Test this pattern on various assets with FXOpen’s TickTrader platform. The Psychology Behind the Dragonfly Doji The dragonfly doji candle pattern reflects a tug-of-war between buyers and sellers, where neither side gains a decisive advantage. Its formation indicates that sellers initially push prices lower, but buyers step in to push prices back up to the opening level. This results in the distinct long lower shadow and minimal upper shadow. The psychological meaning of the dragonfly candlestick pattern is significant; it shows that despite bearish pressure, buyers are strong enough to regain control by the close. It signals indecision, highlighting the need for traders to carefully evaluate other indicators and the broader trend before making trading decisions. How Can You Trade the Dragonfly Doji? The bullish dragonfly doji provides valuable information about market sentiment. Here are two scenarios where this formation can be significant: The Dragonfly Doji in an Uptrend In a bullish trend, the dragonfly doji is generally seen as a continuation signal. This is because, despite sellers attempting to push the price lower, buyers remain active and prevent a significant decline. However, it is worth noting that the inability of buyers to push the price above its open level may indicate a potential weakening of bullish momentum. Traders may consider entering the trade above the open/close of the doji’s candle or if the proceeding bar closes above the doji’s open/close. The stop-loss level may be placed below the candlesticks, while the take-profit target may be set at the nearest resistance level. https://www.tradingview.com/x/O1GWGLjm/ In the chart above, the pattern formed in an uptrend, and the trader placed a long trade on the next bar. The stop loss was set below the candle, with the take profit at the closest resistance level. Dragonfly Doji in a Downtrend The dragonfly doji in bearish trends may suggest a possible upward reversal. The long lower shadow indicates that buyers entered the market, pushing the price up from its lows. This could be seen as a signal to consider going long or watching for a further bullish confirmation before taking action. Traders may place a stop loss below the candle with a take profit at the closest resistance level or may consider the appropriate risk/reward ratio. https://www.tradingview.com/x/584oFfzF/ The candle at the end of a downtrend signals a price reversal. The trader placed a buy order at the high of the doji with a stop-loss level below it. The take profit is calculated based on the risk/reward ratio. Traders can enhance their trading strategies by utilising the free TickTrader trading platform. How Can You Confirm the Dragonfly Doji? Confirming the dragonfly doji may increase the reliability of trading decisions. Here are key factors to consider: - Volume Analysis: High trading volume during the formation of a dragonfly candle may indicate stronger market sentiment and increase the likelihood of a significant move. - Subsequent Candlesticks: Traders look for a bullish candlestick following the dragonfly candlestick. This reinforces the potential for a trend reversal or continuation. - Support and Resistance Levels: A formation occurring near significant support levels can strengthen its validity as a potential reversal signal. - Technical Indicators: To gauge momentum and confirm signals, traders often complement the analysis with indicators like the Relative Strength Index (RSI), moving averages, and Bollinger Bands. - Market Context: It’s best to evaluate the broader market trend and news that may impact market sentiment to provide a clearer picture of its implications. Dragonfly and Other Patterns Dragonfly doji, gravestone doji, spinning top, and long-legged doji are all types of candlestick patterns commonly used in technical analysis to indicate potential reversals or indecision in the market. Traders often pay close attention to them when making trading decisions. Dragonfly Doji vs Gravestone Doji While the dragonfly doji has a long lower shadow and little or non-existent upper one, the gravestone or inverted dragonfly doji has a long upper wick and little or non-existent lower one. Both patterns indicate indecision, but the dragonfly provides bullish signals, whereas the gravestone indicates potential bearish reversals. Dragonfly Doji vs Long-Legged Doji The dragonfly has a long lower shadow with little to no upper shadow, indicating a potential bullish reversal. In contrast, the long-legged version has long upper and lower shadows, reflecting significant indecision and equal pressure from buyers and sellers without a clear directional bias. Dragonfly Doji vs Hammer The dragonfly and the hammer both signal potential bullish reversals, but they differ in appearance and context. The dragonfly has no upper shadow, but it has a very small body and an extended lower shadow, while the hammer has a body at the top of the candlestick and a long lower shadow. The hammer typically appears after a downtrend, signalling a reversal, while the dragonfly doji appears in uptrends and downtrends. Limitations of the Dragonfly Doji While the dragonfly doji is a valuable candlestick formation for traders, it is not without its limitations. Recognising these constraints can help them understand how to use it most effectively. - False Signals: The dragonfly sometimes produces false signals, leading traders to anticipate reversals that do not materialise. - Market Context: Its effectiveness is heavily influenced by the broader market context. It may not be reliable in all situations, particularly in choppy or sideways assets. - Confirmation Needed: Additional indicators or subsequent price action are usually required to confirm the pattern, as relying solely on its appearance can be risky. - Limited Power: It does not provide information on the magnitude of the subsequent price movement, making it challenging to set precise profit targets. Closing Thoughts Candlestick patterns should not be relied upon as the sole factor in trading decisions. It is essential to perform a comprehensive analysis and implement robust risk management strategies before making any trades. Once you are confident in your analysis, consider opening an FXOpen account to take advantage of spreads as tight as 0.0 pips and commissions starting at just $1.50. FAQ What Does Doji Candle Mean? A doji candle represents a session where the opening and closing prices are almost equal, indicating market indecision. It suggests neither buyers nor sellers are in control, resulting in a standoff. Doji candles can take various forms, including dragonfly, gravestone, and long-legged, each with unique implications. What Does a Dragonfly Doji Indicate? A dragonfly doji indicates indecision and potential trend reversal. It forms when the open, high, and close prices are near the same level but it has a long lower shadow. This formation suggests buyers counteracted initial selling pressure, signalling a possible bullish shift. Is the Dragonfly Doji Bullish or Bearish? The dragonfly is generally considered bullish, especially after a downtrend. Its formation indicates buyers pushed prices back to the opening level, potentially leading to a price increase. What Is the Opposite of the Dragonfly Doji? The opposite of the dragonfly doji is the gravestone doji. The dragonfly has a long lower shadow and little to no upper shadow, while the gravestone features a long upper shadow and minimal lower shadow, indicating a potential bearish reversal. *Important: At FXOpen UK, Cryptocurrency trading via CFDs is only available to our Professional clients. They are not available for trading by Retail clients. To find out more information about how this may affect you, please get in touch with our team. Trade on TradingView with FXOpen. Consider opening an account and access over 700 markets with tight spreads from 0.0 pips and low commissions from $1.50 per lot. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
The first meme coin draws a bull flag! You know, it's like finding an undervalued stock in a pile of garbage - rare, but it happens. In the medium term, I expect the growth to 1.618 Fibonacci levels - the golden ratio, friends, nature is not wrong. Plus, a small bullish divergence is coming. Horban Brothers.
XAUUSD completed my last analysis predictions by arriving at 2942 today we have the price rejecting at the strong sell side liquidity am looking forward to see price drop from this zone down to 2,930 for a liquidity sweep or run right now am just waiting and waiting
BTC is currently accumulating within a marked zone, trading within a broad range of approximately $17,800. The previous resistance line has now turned into support, indicating a possible consolidation phase before the next move. The price is fluctuating near the 50 EMA ($97,811.26), which may act as dynamic resistance. A breakout above this level could signal renewed bullish momentum, while failure to hold support may lead to further downside.