After my SHORT position a month ago : tradingview.com/v/MzW3RKqY/
has been confirmed by the market (Take Profit activated), it's time to look of the opposite direction, price is creating a bullish engulfing pattern that can become the second low of a double bottom in formation.
Divergence on RSI shows also a signal for a LONG at this level.
I'm LONG if monday daily candle close over last week candle, it confirms bullish engulfing pattern, then I will look if it's better to enter on 50%retrace of pattern, or on the close... depending on price action tomorrow.
Cross-pairs Strength analyze : NZD shows weakness my meeting resistance level against JPY and USD. EUR is neural.
Stay tune, and share your ideas and critics, always a pleasure for me to answer.
Cheers
Stop Loss: 1.47691
ENTRY: To be confirmed (around 1.49263)
TP1: 1.51499
TP2: 1.54454
TP3: 1.56718
=============================================
Trading rules are :
1. Trades are taken in 1, 2 or 3 units depending the situation.
2. If 90 percent of first target is reached I move stop loss to break-even.
3. If 90 percent of first target is reached without triggering entry I cancel the trade.
4. About targets : this is not an arbitrary approach, because every situation evolves different, targets will be adjusted according how price behave on key levels.
------------------------------------------------------------------------
My 5 tips to keep in mind that will save you from losing :
- Make sure to have enough Momentum on your side
- Use powerful confluences (BRN, major S/R, Div, Trend-lines, Fibos)
- Have enough space to reach 2 Ratio:Reward at least, avoid tricky noise situations
- Good price action (pinbar, inside bar etc..) at bottom/top for a good price
- Enjoy your wins and learn from your losses
Wish you great success !
has been confirmed by the market (Take Profit activated), it's time to look of the opposite direction, price is creating a bullish engulfing pattern that can become the second low of a double bottom in formation.
Divergence on RSI shows also a signal for a LONG at this level.
I'm LONG if monday daily candle close over last week candle, it confirms bullish engulfing pattern, then I will look if it's better to enter on 50%retrace of pattern, or on the close... depending on price action tomorrow.
Cross-pairs Strength analyze : NZD shows weakness my meeting resistance level against JPY and USD. EUR is neural.
Stay tune, and share your ideas and critics, always a pleasure for me to answer.
Cheers
Stop Loss: 1.47691
ENTRY: To be confirmed (around 1.49263)
TP1: 1.51499
TP2: 1.54454
TP3: 1.56718
=============================================
Trading rules are :
1. Trades are taken in 1, 2 or 3 units depending the situation.
2. If 90 percent of first target is reached I move stop loss to break-even.
3. If 90 percent of first target is reached without triggering entry I cancel the trade.
4. About targets : this is not an arbitrary approach, because every situation evolves different, targets will be adjusted according how price behave on key levels.
------------------------------------------------------------------------
My 5 tips to keep in mind that will save you from losing :
- Make sure to have enough Momentum on your side
- Use powerful confluences (BRN, major S/R, Div, Trend-lines, Fibos)
- Have enough space to reach 2 Ratio:Reward at least, avoid tricky noise situations
- Good price action (pinbar, inside bar etc..) at bottom/top for a good price
- Enjoy your wins and learn from your losses
Wish you great success !
Penerbitan berkaitan
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.
Penerbitan berkaitan
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.