CTS based Trade - Short NZDUSD 60M
Combined technical scoring system trade
1 - RSI overbought
1 - RSI divergence
1 - Fibonacci extension confirmation
1 - Higher time frame confirmation - price action operating at upper trendline
1 - Advanced bat pattern completion in this zone
1 - Weekly resistance at 0.73000 - Major Structure
1 - Resistance at previous structure high - Minor Structure
1 - Double top
TOTAL = 8 POINTS
Target - At first level of support, this also aligns with the targets for the bat pattern.
Stops - ATR Based stop above the highs
I believe that bat patterns that can be backed up with further technicals such as the combined technical scoring system, are often the strongest.
I am 19, I have been studying price action trading over the last 3 months and so I am very much a beginner, any comments good or bad are welcomed!
1 - RSI overbought
1 - RSI divergence
1 - Fibonacci extension confirmation
1 - Higher time frame confirmation - price action operating at upper trendline
1 - Advanced bat pattern completion in this zone
1 - Weekly resistance at 0.73000 - Major Structure
1 - Resistance at previous structure high - Minor Structure
1 - Double top
TOTAL = 8 POINTS
Target - At first level of support, this also aligns with the targets for the bat pattern.
Stops - ATR Based stop above the highs
I believe that bat patterns that can be backed up with further technicals such as the combined technical scoring system, are often the strongest.
I am 19, I have been studying price action trading over the last 3 months and so I am very much a beginner, any comments good or bad are welcomed!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.