Solid ECN | %40 Deposit Bonus
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About us
Solid ECN Securities is a team of experts with more than a decade of experience in trading, IT, and brokerage development. Gradually over the years, we collected priceless information about the market demands. We have learned how to safeguard and secure the trading environment on contracts.
It was in 2017, that we were determined to establish an independent hub to protect our accounts and trades. It was at that time we came up with the idea of Solid ECN Securities. We started with a self-developed platform, but due to the trading demands, the platform could meet our minimums only. Therefore, we stepped up and made it to the next level.
We formed the company and hired more experts to expand the Solid ECN brand worldwide. The pillar of the company is to provide secure trading without discrimination.
It was in 2017, that we were determined to establish an independent hub to protect our accounts and trades. It was at that time we came up with the idea of Solid ECN Securities. We started with a self-developed platform, but due to the trading demands, the platform could meet our minimums only. Therefore, we stepped up and made it to the next level.
We formed the company and hired more experts to expand the Solid ECN brand worldwide. The pillar of the company is to provide secure trading without discrimination.
Understanding On-Neck Candlestick Pattern
The On-Neck Candlestick Pattern is made up of two candlesticks: a tall down candle and a much shorter up candle that gaps down on the open but closes at or near the previous candle’s close. The pattern is called “On Neck” because it produces a horizontal line that can be interpreted as a “neckline” or “neck” when the two closing prices are the same (or nearly the same) throughout the two candles.
What is On-Neck Candlestick Pattern?
When a long real body down candle is followed by a smaller real bodied up candle that gaps down on the open but closes near the prior candle’s close, the on neck pattern occurs. The pattern is known as a neckline because the closing prices of the two candles are the same (or nearly the same), forming a horizontal neckline. In theory, the pattern is considered a continuation pattern, implying that the price will continue to fall as a result of the pattern. In actuality, this happens just about half of the time. As a result, the pattern frequently implies at least a short-term upward reversal.
Formation
Look for the following characteristics to identify the On Neck pattern:
- First, there must be a downward trend going on.
- There must appear a towering black (bearish) candle.
- Finally, the black candle must be followed by a smaller white (bullish) candle.
- The white candle’s close should be virtually identical to the previous candle’s low. Therefore, it should not climb above the low price of the black candle.
- Look for a black candle on the third day to confirm the On Neck pattern and continue the downward trend. A long body, as well as a gap between the second and third days, demonstrate strength.
Trading with On-Neck Candlestick Pattern
The security is in a primary downtrend or a significant correction inside a primary uptrend. A long black genuine body is displayed by the first candle. Bearish complacency grows due to the weak market action, while weakening bulls retreat completely. On the second candle, the security gaps down and sells off to a new low, but buyers seize control and boost the price back to the preceding close, but not above it. According to the bears, the bulls were unable to drive the price above the previous close. The bears will seize control of the next few candles, sending the price lower according to the idea. But, as previously stated, this only happens roughly half of the time in actuality.
Difference between On-Neck and In-Neck Candlestick Pattern
The in-neck pattern, which is also a two-line continuation candlestick pattern, is another option. This is also a bearish pattern in a downtrend with the first candle being bearish. The second candle is a bullish one, with a slightly higher closing price than the prior candle’s closing price. The closing price level shows the distinction between an in-neck and an on-neck candlestick pattern.
- The in-neck pattern indicates that the trend is still bearish and will continue, but it is not as intense or severe as the on-neck candlestick.
- Because the two patterns are so similar, you’ll have to scrutinize them closely to figure out which is which.
Limitations
The price could move higher or lower with about equal probabilities if the pattern is followed. The pattern’s moves to the upside tend to be larger than the pattern’s moves to the downside. Trading based on the pattern could lead to a variety of outcomes. While a lower breakout is as simple as a dip below the low (or close) of the second candle, the trader must decide whether they consider a move over the high (or close) of the second or first candle to be a higher breakout point. Because the candlestick pattern lacks an intrinsic profit goal, a mechanism of profit-taking must be established. The pattern works best when combined with additional technical indicators and procedures for confirmation.
Bottom-line
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How to use Rising and Falling Window Candlestick Pattern
Rising and Falling Window Candlestick Pattern- The support and resistance zones of window candlestick patterns are highly rigid. Therefore, a stiff resistance region is generated in the case of a Falling Window candlestick pattern, which gives a better probability of trade chances on consecutive re-tests of the resistance area. Similarly, a stiff support region is generated in the case of a Rising Window candlestick pattern, which also gives a better probability of trade chances on consecutive re-tests of the support area.
What is Rising Window Candlestick Pattern?
There must be space between the real bodies of two candles to form a Window (whether rising or falling); in fact, even their shadows should not overlap. During an uptrend, a Rising Window is a price gap that forms. The space between the candles represents the distance between the high of the previous candle and the low of the current candle. This trend indicates that the bulls are in control, and we can expect them to keep pushing the price higher. Examine the size of the gap to acquire a better understanding of the pattern’s message. For example, a high gap denotes a significant price increase, whereas a small gap denotes a modest (and unimportant) price change.
Formation
The Rising Window, also known as a “gap up,” appears when the price continually rises, and it is always regarded as a bullish signal. So don’t be startled if you see the Rising Window; it’s a common occurrence (though not as often on charts with longer time scales).
Because this continuation pattern is so simple and common, make sure you look at it carefully to understand what it’s trying to tell you. Small details can have a significant impact.
Because this continuation pattern is so simple and common, make sure you look at it carefully to understand what it’s trying to tell you. Small details can have a significant impact.
Trading with Rising Window Candlestick Pattern
The chart starts with an upward trend. At the commencement of the movement, the bulls construct a gap up (i.e., a Rising Window) to show their might. The uptrend continues for approximately half of the chart, with predominantly white candles increasing steeply.
What is Falling Window Candlestick Pattern?
A price gap in a downward trend is referred to as a Falling Window candlestick pattern. It must happen while the price trend is down, and it is always a bearish signal. This continuation pattern is highly common on charts with shorter time scales, but it isn’t as common on longer time scales. Because it is so common, it is critical that you pay attention to the peculiarities of each Falling Window. These details can help you figure out how important the signal is and whether you should pay attention to it.
Formation
When the two candles appear after the Falling Window, examine them. A Downside Tasuki Gap pattern, may have arisen if they do not close the window or fill the gap (this includes their shadows). The first and second candles must be bearish, but the third must be bullish in order to qualify.
After a significant downturn (as evidenced by the gap down), the bulls attempted to force the price back up. However, they were unsuccessful, and the decline is projected to continue. The bears can produce a Falling Window candlestick pattern if they gain control. However, the bears, as expected given the indication, fight on and maintain the downturn.
After a significant downturn (as evidenced by the gap down), the bulls attempted to force the price back up. However, they were unsuccessful, and the decline is projected to continue. The bears can produce a Falling Window candlestick pattern if they gain control. However, the bears, as expected given the indication, fight on and maintain the downturn.
Bottom-line
We hope you found this blog informative and use it to its maximum potential in the practical world. Also, show some love by sharing this blog with your family and friends and helping us in our mission of spreading financial literacy.
Triple candlestick patterns
Understand Three Outside up and Three Outside Down Candlestick Patterns
Understand Three Outside up and Three Outside Down Candlestick Patterns
- The outside three up/down candlestick patterns are variations of chart candle reversal patterns. They are usually used to indicate a trend reversal.
- The three outside up/down candlestick patterns are distinguished by one white or black candlestick immediately followed by two candlesticks of the opposite hue.
- These varieties of the three outside patterns aim to read near-term changes in trader sentiment by leveraging the market’s psychology.
What is Three Outside Up Candlestick Pattern?
Three successive candlesticks form the three outside up pattern, which usually appears after a bearish trend. The movement of these candles always indicates whether or not a trend reversal is imminent.
A single bearish candle is followed by two bullish candles to form the pattern. For counter-trend trading tactics to work, accurate detection of this pattern is critical.
Formation
Below is the formation of the Three Outside Up Candlestick Pattern-
- The market must decline for a three outside up pattern to appear.
- The pattern’s first candle will be black, signifying a downward trend.
- A large white candle will be formed next. It will be long enough for the first black candle to be completely contained within its true body.
- The third and final candle, which indicates three outside up, must also be white. This candle, however, should close higher than the second candle. This shows that the downward trend is changing direction.
What Traders Interpret from a Three Outside Up Pattern
With the closure lower than the open, the first candle maintains the bearish trend, showing significant selling interest and building bear confidence.
The second candle begins lower but quickly reverses, crossing through the first tick in a bullish showing. This price action raises a red flag for bears, signaling that those gains should be taken or stopped because a reversal is possible.
The stock continues to rise, with the price now above the first candle’s range, completing a bullish outside day candlestick. This boosts bullish sentiment and triggers buy signals, verified when the security makes a new high on the third candle.
Trading Example
One of the important characteristics of this technical indicator is that the size of the engulfing candlestick, which is the second of three, determines its power. The three outside up patterns is more prominent the larger the second candle.
The smaller the negative downtrend becomes, the weaker its indication becomes. As the price movement increases with the second candle, bullish sentiments appear to be outnumbering bearish sentiments.
With the closure lower than the open, the first candle maintains the bearish trend, showing significant selling interest and building bear confidence.
The second candle begins lower but quickly reverses, crossing through the first tick in a bullish showing. This price action raises a red flag for bears, signaling that those gains should be taken or stopped because a reversal is possible.
The stock continues to rise, with the price now above the first candle’s range, completing a bullish outside day candlestick. This boosts bullish sentiment and triggers buy signals, verified when the security makes a new high on the third candle.
Trading Example
One of the important characteristics of this technical indicator is that the size of the engulfing candlestick, which is the second of three, determines its power. The three outside up patterns is more prominent the larger the second candle.
The smaller the negative downtrend becomes, the weaker its indication becomes. As the price movement increases with the second candle, bullish sentiments appear to be outnumbering bearish sentiments.
What is Three Outside Down Candlestick Pattern
Three successive candlesticks form the three outside down pattern, which usually appears during a bullish trend. The movement of these candles always indicates whether or not a trend reversal is imminent. A single bullish candle is followed by two bearish candles to form the pattern. For counter-trend trading tactics to work, accurate detection of this pattern is critical.
Formation
Below is the formation of the Three Outside Down Candlestick Pattern-
1. The market must be uptrend for a three outside down pattern to appear.
2. The pattern’s first candle will be white, signifying an uptrend.
3. A large black candle will be formed next. It will be long enough for the first white candle to be completely contained within its true body.
4. The third and final candle, which indicates three outside down, must also be black. This candle, however, should close higher than the second candle. This shows that the uptrend is changing direction.
1. The market must be uptrend for a three outside down pattern to appear.
2. The pattern’s first candle will be white, signifying an uptrend.
3. A large black candle will be formed next. It will be long enough for the first white candle to be completely contained within its true body.
4. The third and final candle, which indicates three outside down, must also be black. This candle, however, should close higher than the second candle. This shows that the uptrend is changing direction.
What Traders Interpret from a Three Outside Up Pattern
With the closing higher than the open, the first candle maintains the bullish trend, showing significant buying demand and building bull confidence. The second candle rises but quickly reverses, crossing through the starting tick in a bearish showing. This price action signals a red flag for bulls, signaling that gains should be taken or tightened because a reversal is possible. The asset is still losing money, with its price dropping below the first candle’s range, completing a bearish outside day candlestick. These boosts bear confidence and trigger selling signals, verified when the stock makes a new low on the third candle.
Trading Example
As can be seen, the price is strongly going upward, indicating that the bulls have taken control of the market. As a result, the first candle in the pattern closes favorably, following the trend. The body of the candle, on the other hand, stays modest, which could indicate a slowdown in buying enthusiasm. Finally, the second candle opens ‘gap up,’ indicating the bulls’ attempt to push prices farther higher.
The purchasing enthusiasm has entirely faded at this time, and the bears have entered the market. This rapid surge of sellers in the market flips the market, causing the price to drop. The bears’ grip on the second session is so strong that the second candle’s closing price is lower than the bullish candle’s initial price.
Because of the strong selling pressure, the second candle ends up engulfing the first. The bears ramp up the pace in the third session, with the pattern’s last candle ending in the negative zone.
The purchasing enthusiasm has entirely faded at this time, and the bears have entered the market. This rapid surge of sellers in the market flips the market, causing the price to drop. The bears’ grip on the second session is so strong that the second candle’s closing price is lower than the bullish candle’s initial price.
Because of the strong selling pressure, the second candle ends up engulfing the first. The bears ramp up the pace in the third session, with the pattern’s last candle ending in the negative zone.
Bottom-line
We hope you found this blog informative and use it to its maximum potential in the practical world. Also, show some love by sharing this blog with your family and friends and helping us in our mission of spreading financial literacy.
XRPUSD -Technical analysis
Currently, the price is testing its upper limit, consolidation above which will allow the cryptocurrency to continue moving to the area of 0.4150 (Fibo retracement 23.6%). Otherwise, the price will remain within the sideways range and resume its decline to the levels of 0.2930 and 0.2441.
Technical indicators confirm the high probability of the development of downward dynamics: the Bollinger Bands are horizontal, the MACD histogram is at the zero line, its volumes are insignificant, and the Stochastic has reached the oversold zone and is trying to reverse downwards. In general, further movement within the established lateral range is seen as the most priority scenario at the moment.
Resistance levels: 0.3660, 0.4150, 0.4395 | Support levels: 0.2930, 0.2441, 0.1953
Currently, the price is testing its upper limit, consolidation above which will allow the cryptocurrency to continue moving to the area of 0.4150 (Fibo retracement 23.6%). Otherwise, the price will remain within the sideways range and resume its decline to the levels of 0.2930 and 0.2441.
Technical indicators confirm the high probability of the development of downward dynamics: the Bollinger Bands are horizontal, the MACD histogram is at the zero line, its volumes are insignificant, and the Stochastic has reached the oversold zone and is trying to reverse downwards. In general, further movement within the established lateral range is seen as the most priority scenario at the moment.
Resistance levels: 0.3660, 0.4150, 0.4395 | Support levels: 0.2930, 0.2441, 0.1953
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ADAUSD
This week, the digital asset made an attempt to grow, which was unsuccessful: after testing the 0.545 mark, the price went down again. Consolidation of the quotes below 0.4882 (Murray [2/8]) will allow them to continue moving to the levels of 0.4394 (Murray [1/8]) or 0.417 (near the July lows). The key for the "bulls" is the 0.5371 mark (Murray [3/8]), at the breakout of which it will be possible to resume the upward dynamics to the levels of 0.5859 (Murray [4/8]), 0.61 (Fibo retracement 23.6%), 0.6347 (Murray [5/8]).
Technical indicators show opposite signals: the Bollinger Bands are reversing upwards, and the Stochastic is reversing downwards, while the MACD histogram is at the zero line and its volumes are insignificant.
Resistance levels: 0.5371, 0.5859, 0.61, 0.6347 | Support levels: 0.4882, 0.4394, 0.417
Technical indicators show opposite signals: the Bollinger Bands are reversing upwards, and the Stochastic is reversing downwards, while the MACD histogram is at the zero line and its volumes are insignificant.
Resistance levels: 0.5371, 0.5859, 0.61, 0.6347 | Support levels: 0.4882, 0.4394, 0.417
(RSI) Range Shift- A Simple but Effective Trading Strategy
The Relative Strength Index (RSI) is the most popular technical indicator among traders worldwide. It was created in the 1970s by Wells Wilder. In his 1978 book New Concepts in Technical Trading Systems, Mr Wilder advised that the indicator’s default setting be 14 days (half-moon cycle). The RSI is commonly used to determine overbought and oversold levels. Divergence, Reversal, and Failure Swing are other terms associated with using RSI. However, Andrew Cardwell, commonly known as Dr RSI, discovered the Range Shift idea. Furthermore, he found that the RSI indicator may be applied to trending and non-trending markets.
What is the RSI Range Shift concept?
RSI Range Shift is a phenomenon that occurs when the RSI indicator ‘shifts’ from one specified range to another in response to changes in the price movement of an underlying asset. There are five different types of RSI ranges.
- Super Bullish Range-60-80
- Bullish Range-40-80
- Bearish Range-20-60
- Super Bearish Range-20-40
- Sideways Range-40-60
Trading Examples
1. Super Bullish Range
In this situation, the RSI refuses to fall below 60 and seeks support near 60. RSI tends to swing between 60 and 80 during this highly bullish era. Consider the following Reliance example.
2. Bullish Range
When a stock is rising, the RSI will not fall below 40. Instead, it looks for help around the level of 40. For example, see the Lupin chart below, where the RSI refused to move below 40 and fluctuated between 40 and 80.
In this situation, the RSI refuses to fall below 60 and seeks support near 60. RSI tends to swing between 60 and 80 during this highly bullish era. Consider the following Reliance example.
2. Bullish Range
When a stock is rising, the RSI will not fall below 40. Instead, it looks for help around the level of 40. For example, see the Lupin chart below, where the RSI refused to move below 40 and fluctuated between 40 and 80.
EURTRY - The strengthening of the euro may be temporary
Thus, the Central Bank of Turkey left the discount rate at 14.0% for the seventh month in a row, even despite the continuing increase in inflation in the country, which reached 78.62% and the change in the global trend towards tightening monetary parameters taken by the world financial institutions. At the same time, officials said that the price growth is caused by an increase in the cost of energy, geopolitical risks and non-economic reasons and hope for an improvement in the situation at the beginning of next year. The European Central Bank (ECB), on the contrary, began to take decisive steps in the fight against the unprecedented rise in consumer prices, which led to the strengthening of the position of the single currency. Officials raised rates for the first time in 11 years, and immediately by 50 basis points. The main interest rate is now 0.50%, the margin rate is 0.75%, and the deposit rate is 0.00%. ECB Head Christine Lagarde said that the adjustment of indicators is caused by the rapid pace of inflation, which affects more and more economic sectors, as well as forecasts of further preservation of indicators at high levels. The beginning of the rate hike cycle has strengthened the euro's position against its main competitors, but the positive dynamics may be short-lived, as the European economy continues to experience increased pressure from the Ukrainian crisis and interruptions in energy supplies.
The price is testing the 17.96, consolidation below which will allow quotes to continue moving to the levels of 17.5781 (the middle line of the Bollinger Bands) and 17.18. The key for the "bulls" is the mark of 18.3593, with a breakout of which growth will be able to resume to the area of 18.75, 19.14. Technical indicators do not give a single signal: the Bollinger Bands are reversing horizontally, the Stochastic is preparing to leave the overbought zone and form a sell signal, and the MACD histogram is increasing in the positive zone.
Resistance levels: 18.35, 18.75, 19.14 | Support levels: 17.96, 17.57, 17.18
The price is testing the 17.96, consolidation below which will allow quotes to continue moving to the levels of 17.5781 (the middle line of the Bollinger Bands) and 17.18. The key for the "bulls" is the mark of 18.3593, with a breakout of which growth will be able to resume to the area of 18.75, 19.14. Technical indicators do not give a single signal: the Bollinger Bands are reversing horizontally, the Stochastic is preparing to leave the overbought zone and form a sell signal, and the MACD histogram is increasing in the positive zone.
Resistance levels: 18.35, 18.75, 19.14 | Support levels: 17.96, 17.57, 17.18
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