Connect with us


Day Trading Patterns



candlestick patterns

Head and shoulders patterns form within an uptrend. They show a head and two smaller peaks within a five-bar consolidation pattern. Once formed, you should wait for price to close above the neckline and for a new trend to develop. If price breaks the neckline, you can enter a sell trade. Alternatively, you can wait for a short-term upward correction to test the newly emerging resistance level.

Another pattern to watch is the pennant. Its upper and lower boundaries are both directed upward and downward, and the price range shrinks with each change in direction. This pattern can form after a strong impulse move in a price direction, and it’s an excellent entry point. The downside is that it can be misleading; therefore, you should wait for a break in price before entering a trade.

Day trading patterns don’t guarantee success, but they can help you maximize your profits. Remember that you should never trade beyond your risk tolerance. Always keep a realistic price target. Traders should aim to make small, consistent profits and avoid being greedy. To be successful, you need to be able to identify chart patterns. To find these patterns, look for key swing high and swing low levels, support and resistance levels, and pivot points.

Candlestick charts are another tool for day traders. These charts show the highest and lowest prices over a period of time. Short candles indicate low volatility and long candles show heightened volatility. You can use this chart to identify trend reversals and anomalies. You should also check the trading volume. A high trading volume means high volatility.

The simplest patterns to learn are the rising wedge and falling wedge. The cup and handles pattern is also one of the easiest to learn. Once you’re familiar with the patterns, you can use them to develop your own trading strategies. Once you’ve mastered these patterns, you’ll be able to trade any currency pair. These patterns are profitable and are used by thousands of traders.

The most challenging day trading pattern is the late-day consolidation pattern. A limited number of traders can make a profit using this pattern, and only a few are able to do it successfully. However, if you can spot the breakout, stocks will continue their trend into the market close. To profit from this pattern, you should enter your trade after 1 pm and wait until the breakout breaks a long trend line that started early in the day or the previous trading day.

Another popular day trading pattern is the flag pattern. A bullish flag forms a bull flag, which helps traders determine a good entry point for long positions. After the breakout, a bearish flag follows. After the breakout, the price of the security falls to new lows. After the flag breaks out, a bearish flag forms, which helps traders enter short positions with an appropriate stop loss and profit.

Continue Reading


Eurozone annual inflation rate slowed to 10% in November



eurozone inflation rate

Eurozone inflation rate rose 10% now. Inflation has slowed down from 10.6% in October, when the rate was at its highest since the start of calculations. Analysts polled by Trading Economics had expected inflation to slow to 10.4 percent.

Eurostat Eurozone inflation – current data

Consumer prices declined by 0.1% compared to the previous month. Consumer prices excluding volatile factors such as energy, food and alcohol (CPI Core Index tracked by the ECB) rose 5% year-on-year in October after rising the same amount in October.

Energy prices slowed to 34.9% in November after rising 41.5% in October. Manufactured goods prices rose 6.1%, the same as a month earlier. The U.S. is about the same, putting pressure on stock markets and even Apple stock prices today.

The cost of food, alcohol and tobacco products rose 13.6% after an increase of 13.1% in October. Services rose 4.2% (+4.3% a month earlier).

The highest inflation in annual terms was recorded in Latvia (21.7%), Estonia, and Lithuania (21.4%). The lowest price growth was observed in Spain (6.6%), France (7.1%) and Malta (7.2%).

Earlier we reported that the dollar is getting cheaper against major currencies.

Continue Reading


Dollar is getting weaker against major currencies



the dollar is going to crash

The dollar is getting weaker against major currencies in trading Thursday morning after U.S. Federal Reserve (Fed) Chairman Jerome Powell spoke the day before.

During a speech at the Brookings Institution on Wednesday, Powell reiterated that the Fed could slow the rise in the benchmark rate as early as December. “The time to moderate the pace of rate hikes may come as early as the next meeting,” Powell said.

The Fed chair, meanwhile, tried to balance those words with “hawkish” signals. Market Watch notes. He said that the U.S. Central Bank will have to raise the rate higher than could be expected a few months ago. Also, Powell made it clear that the issue of rate cuts is irrelevant at the moment. Against this background, the stock market and Tesla stock prices today in particular rose.

Another Fed official, Board of Governors member Lisa Cook, is confident that the regulator needs to keep raising the rate because inflation is still too high. “We’ve started to get more favorable inflation data. But I would be cautious about drawing big conclusions on just one month’s worth of data,” Cook said during a speech at the Detroit Economic Club.

Is the dollar going to crash? It’s premature to make such statements. So far, the euro has gained 0.36% against the dollar to $1.0443 against $1.0406 at the close of the session on Wednesday. The dollar/yen exchange rate declined 1.14% to 136.50 yen from 138.07 yen at the end of the previous session. The pound gained 0.31% to $1.2095against $1.2058 the day before.

The ICE-calculated index showing the dynamics of the US dollar against six currencies (euro, Swiss franc, yen, Canadian dollar, pound sterling and Swedish krona) is down 0.4%, while the broader WSJ Dollar Index is losing 0.6%.

Earlier we reported that unemployment in the Eurozone fell to 6.5% in October and in the EU to 6.0%.

Continue Reading


The unemployment rate in the eurozone decreased to 6.5% in October, to 6.0% in the EU



eurozone unemployment

The unemployment rate in the Eurozone was 6.5%. The index has fallen to a record low level in the history of its calculations. In September 2022, the unemployment rate was 6.6%. Analysts had expected the unemployment rate to remain at the September level of 6.6%, according to Trading Economics.

Eurozone unemployment fell to 6.0% from 6.1% a month earlier. There were 12.953 million unemployed in the 27 EU countries in October, of which 10.872 million were in the eurozone. Compared to October 2021, the number of unemployed fell by 1.158 million in the EU and 1.053 million in the euro area.

In October, there were 2.872 million unemployed young people (under 25 years of age) in the EU, of which 2.326 million were in the euro area. The youth unemployment rate in the EU and the euro area was 15.1% compared to 15.2% (EU) and 15% compared to 15.2% a month earlier (euro area). In the U.S., the situation is similar, which puts pressure on stock markets and in particular on NVIDIA stock prices today

Among EU countries the lowest unemployment rate in October was registered in Czech Republic (2.1%), Poland and Germany (3.0%), Malta (3.1%) and the highest in Greece (11.6%) and Spain (12.5%).

In France, unemployment remained at 7.1% and in Italy dropped to 7.8% from 7.9% in September.

Earlier, we reported that the Chinese stock market closed in the negative amid protests in China.

Continue Reading


©2021-2022 Letizo All Rights Reserved