1. Variation: As we can see over and over again the bears(sellers) were losing momentum so I had to wait for their downfall.
Variation in this strategy in simple words is basically when you see a mix of bearish and bullish candles but on a downtrend. The whole point of the strategy is to buy when there is a trend
reversal and the only way to really confirm the reversal or at least knowing that is coming is to wait for...
2. Candle with a wick that rejects price going down further.
Usually, I like long wicks because it gives me more assurance but since this trade was before NY open
I had to take some risks but not without waiting for the final step....
3. Volume to the upside: When you see a big candle that means that the big boys (institutions like the guys handling your mama's pension) are getting their orders filled because they like to buy low and sell high to guys like me sometimes. Now, I rather buy only when they buy and use their low as a stop loss.
Variation in this strategy in simple words is basically when you see a mix of bearish and bullish candles but on a downtrend. The whole point of the strategy is to buy when there is a trend
reversal and the only way to really confirm the reversal or at least knowing that is coming is to wait for...
2. Candle with a wick that rejects price going down further.
Usually, I like long wicks because it gives me more assurance but since this trade was before NY open
I had to take some risks but not without waiting for the final step....
3. Volume to the upside: When you see a big candle that means that the big boys (institutions like the guys handling your mama's pension) are getting their orders filled because they like to buy low and sell high to guys like me sometimes. Now, I rather buy only when they buy and use their low as a stop loss.
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.