Hi guys, wave 5 is forming in BTCUSD and I expect that once it is completed, the price will correct to the upside. SO, as soon as channel resistance line gets breached and green candle closes above it, I will buy some color options (on green candles, max 10).If channel support line gets broken before my entry conditions are met, I will abandon this set-up. My rules are the same as before:
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Rules:
7.Worst case scenario: if I will have 4 losing candles in a row, I will take my losses and look for a new set-up.
8.Best case scenario: If I will have 4 winning candles in a row, I will gladly take my profits and look for a new opportunity.
9.I will not trade more then 10 candles in a row and I will stop trading if I am up by 4 winning trades.
For example: if my first candle is a losing candle but the next 5 candles are winners, then I will stop trading, since I will be up by 4 wins (5 wins - 1 loss = 4 wins).
Please follow, like and comment !
If you have questions about candle color options or wish to discuss trading strategies in real time, join - candle color options - chat, right here on tradingview.
Rules:
7.Worst case scenario: if I will have 4 losing candles in a row, I will take my losses and look for a new set-up.
8.Best case scenario: If I will have 4 winning candles in a row, I will gladly take my profits and look for a new opportunity.
9.I will not trade more then 10 candles in a row and I will stop trading if I am up by 4 winning trades.
For example: if my first candle is a losing candle but the next 5 candles are winners, then I will stop trading, since I will be up by 4 wins (5 wins - 1 loss = 4 wins).
Please follow, like and comment !
Nota
zoomed out view
Nota
Even though green candle closed above channel resistance line, I will not enter long trade yet, because I was expecting wave 5 to go lower in order for it to be considered complete. I will wait for the price to go down a bit more.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.