This is a methodology that a friend and I have been collaborating on for the last couple of weeks. It combines Wyckoff, S/R, and price action (plus 2 indicators 200 ema and stochastics). Here we go.
1. New swing high on 12/23/14, also showing a divergence between stochastic and price (often a continuation of trend on pullback)
2. Gradual sloping uptrend based on 200 ema (uptrend)
3. 2 bar reversal candle pattern on 1/22/15
4. Support at white line, with 3 prior reversals at that level
5. Fib retracement to 0.618
6. Support at 200 ema
7. Divergence between volume and price on 10/15/2014; and confirmation with volume on new swing high and current pullback
Entry/stop:
4 different scenarios
1. R:R 1:5.31, if minor swing low holds prior to a new high
2. R:R 1:1.34, if minor swing low fails, but major swing low holds prior to new high (this is the key assessment, must be 1:1 or better, since this is the worst profitable outcome)
3. R:R 1:2.09, if major swing low holds with a target AB=CD (this could change if price further pulls back)
4. R:R 1:3.53, if major swing low holds with a fib extension target at 1.618 (this could change if price further pulls back)
1. New swing high on 12/23/14, also showing a divergence between stochastic and price (often a continuation of trend on pullback)
2. Gradual sloping uptrend based on 200 ema (uptrend)
3. 2 bar reversal candle pattern on 1/22/15
4. Support at white line, with 3 prior reversals at that level
5. Fib retracement to 0.618
6. Support at 200 ema
7. Divergence between volume and price on 10/15/2014; and confirmation with volume on new swing high and current pullback
Entry/stop:
4 different scenarios
1. R:R 1:5.31, if minor swing low holds prior to a new high
2. R:R 1:1.34, if minor swing low fails, but major swing low holds prior to new high (this is the key assessment, must be 1:1 or better, since this is the worst profitable outcome)
3. R:R 1:2.09, if major swing low holds with a target AB=CD (this could change if price further pulls back)
4. R:R 1:3.53, if major swing low holds with a fib extension target at 1.618 (this could change if price further pulls back)
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.