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BTCUSD 1D THE BEST GANN FAN TRADING STRATEGY(Rules for BUY Trade) Step #1: Pick a significant High, Draw Gann Fan Angles and Wait For the 1/1 Line to Break to the Upside. The best Gann fan trading strategy works the same on every time frame. But we recommend not going lower than the 1h chart, as you want to be able to pick significant swing high points. This can’t be seen on the lower time frames. Step #2: Wait for a Break Above 2/1 Gann angle Before Buying at the market This step is significantly important because a reversal of the previous trend is only confirmed once the 2/1 Gann angle is broken to the upside. You want to buy at the market as soon as we break above 1/1 line. Step #3: Apply again the Gann Fan Indicator on the Swing low Prior to the Breakout above 2/1 Gann Fan Angle How to use the Gann fan indicator? Simply follow the instruction presented in the above sections. At this point, you can also get rid of the previous Gann fan angles drawn from the swing high. This will make sure your chart will not get cluttered and the price is still visible. One of the reasons why this is the best Gann fan strategy is because we use the Gann fan indicator to track every swing in the market. At this point, your trade is opened, but we still need to determine where to place our protective stop loss and take profit orders, which brings us to the next step of best Gann fan trading strategy. Step #4: Place Your Protective Stop Loss below the Most Recent Swing Low Which Should Align With the Point from Where You Draw the Second Set of Gann Fan Angles. The best Gann fan strategy has a very clear level where we should place our protective stop-loss order which is right below the swing low located prior to the 1/2 Gann angle breakout. Next, will learn where to take profits: Step #5: Take Profit One we Break and Close Below the 1/1 line. We Need the Close Below 1/1 line to be by at Least 20 Pips to Consider it a Valid Breakout We want to ride the new trend for as long as possible and with the help of the Gann fan indicator, we can pinpoint the ideal time to take profits. We take profit at the earliest symptom of market weakness which is a break below the 1/1 line that signals a possible start of a bearish move. Note** The above was an example of a buy trade using the best Gann fan strategy. Use the same rules – but in reverse – for a sell trade.
COINBASE:BTCUSDEducation
by Tradingstrategyguides
TRX/BTC Ascending Triangle BreakoutIn this chart we're looking at TRXBTC on the 1D chart as price has consolidated into an ascending triangle. Price is right at the horizontal boundary around 233. A breakout will be confirmed once price prints a 1D candle above the 237 price line. This ascending triangle has a price target of around 330 for about a 41% gain. Price has also broken through the EMA200 and has taken hold above it. This adds to the probability of price continuing higher. If you would like to see more of these ideas on a regular basis, follow me as I will be posting many more exciting chances to earn on chart pattern breakouts this upcoming year! Like or comment if you found this idea interesting or helpful in any way! Cheers!
Long
by TheLuckyS7ven
BTCUSD 1D MACD CROSSOVER SHORT TRADE1 - Wait for the MACD lines to develop a higher high followed by a higher high swing point. 2 - Connect the MACD line swing points that you have identified in Step #1 with a trendline. 3 - Wait for the MACD line to break below the trendline. (Enter at the Market Price as soon as the MACD line breaks below). 4 - Use Protective Stop Loss Order. (Place the SL above the most recent seing high). 5 - Take Profit when the MACD crossover happens in the opposite direction of our entry.
COINBASE:BTCUSDShort
by Tradingstrategyguides
LTC/BTC Breakout Offering High Probability TradeIn this chart we're looking at LTCBTC on the 1D chart as price has consolidated into a rectangle. Price has broken through the horizontal boundary at 7799. A breakout will be confirmed once price prints a 1D candle above the 7916 price line. I love to see price consolidate right below the chart pattern boundary before breakout occurs. This gives a great area to look to place a stop loss; offering a solid risk/reward ratio for this setup. This rectangle has a price target of around 9425 for about a 21% gain. I think a small pullback is probable once breakout is confirmed. If this happens, I will be looking for entry around the chart pattern boundary. If you would like to see more of these ideas on a regular basis, follow me as I will be posting many more exciting chances to earn on chart pattern breakouts this upcoming year! Like or comment if you found this idea interesting or helpful in any way! Cheers!
Long
by TheLuckyS7ven
ETHUSD 1D ADX LONG STRATEGYThe ADX indicator simply measures the strength of a trend and whether we’re in a trading or non-trading period. In other words, the ADX is a trend strength indicator. This method of technical analysis is used to identify the emergence of strong downtrends and buy signals. We need to be very careful about how we read and interpret the ADX indicator. It is not a bullish and bearish indicator. ADX’s moving average only measures the strength of the trend. So, if the price is going UP, and the ADX indicator is also going UP, then we have the case for a strong bullish case. The same is true if the price is going DOWN and the ADX indicator is going UP. Then we have the case for a strong bearish case. Add horizontal 25 line to ADX. Adjust RSI & ADX to use a 20-period indicator setting. Step #1: Wait for the ADX indicator to show a reading above 25. Before we even look to see if the market goes up or down, we must first wait for the ADX indicator to show a reading above 25. Based on the ADX indicator trading rules, a reading above 25 is signaling a strong trend and the likelihood of a trend developing. We all know that the trend is our friend, but without real strength behind the trend, the newly trend formed can quickly fade away. In order to gauge the direction of the trend, we also need to look at the actual price action. This brings us to the next step of the best ADX strategy. Step #2: Use the last 50 candlesticks to determine the trend. For buy signals, look for price to develop a bullish trend. No matter of your time frame, we need a practical way to determine the direction of the trend. By using a sample size of 50 candlesticks to determine the trend we ensure that we trade in the moment of now. We like to keep things simple, so if the price is heading higher during the last 50 candlesticks we’re in a bullish trend. Step #3: Buy when the RSI indicator breaks and show a reading above 70. For our entry signal, we’ll be using the RSI indicator that uses the same settings as the ADX indicator settings (20). Normally the RSI reading above 70 shows an overbought market and a reversal zone. However, smart trading means looking beyond what the textbook is saying. In a strong trend as it’s defined by the ADX indicator that’s precisely what we want to see. We want more buyers coming into the market. So, we want to buy when the RSI indicator breaks and shows a reading above 70. Step #4: Protective Stop Loss should be placed at the last ADX low. In order to determine the stop-loss location for the best ADX strategy, first identify the point where the ADX made the last low prior to our entry. Secondly, find the corresponding low on the price chart from the ADX low and there you have it your SL level. Step #5: You determine Take Profit or when the ADX indicator breaks back below 25. The best ADX strategy seeks to only capture those profits resulted from the presence of a strong trend. Once the prospects of a strong trend fade away we look to take profits and wait for another trading opportunity. To accomplish this we take profits as soon as the ADX indicator breaks back below 25. An ADX reading back below 25 suggests the prevailing trend is running out of strength. Note** The above was an example of a BUY trade using the ADX indicator trading rules. Use the same rules but in reverse, for a SELL trade. Conclusion - ADX Indicator The best ADX strategy gives us very useful information because a lot of the time, we as traders don’t want to get into something that’s moving nowhere and not trending in a strong fashion. By applying the ADX indicator trading rules one can take advantage of the strength of the trend and cash in quick profits. The bottom line is that the best profits come from catching strong trends and the best ADX strategy can help you accomplish your trading goals.
COINBASE:ETHUSDLong
by Tradingstrategyguides
2
AUDCAD 1D RANGE TRADESRanges are repeatable trading chart patterns. Ranges are consolidation chart patterns that can breakout either direction. Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern. What ever time frame you are trading this chart pattern, wait for a candle close outside of the trendline in the direction of the breakout candle. (Our time frame preference is the Daily chart). Add volume indicator - Volume is the amount of $ that went into a particular candle or in Forex the # of trades that took place. Add ATR indicator - Volatility is the amount of price movement that occurred. Use the ATR to measure the price movement. When you see descending Volume bars and descending ATR line (which indicates volatility) this shows a dis-interest in traders to invest in this pair creating consolidation which creates the chart pattern. Trade Management after there is a breakout candle close. 1 - Position size (compare volume bar to volume ma line). a - Breakout candle must be 100% of average volume for a full position size. b - If 75% of average volume then ½ position size. (To find 75% of Volume look at the charts volume settings – divide smaller # into larger # = 75%+) 2 - Enter two trades. 3 - SL for both trades will be 1.5 x ATR. 4 - 1st trade TP will be 1 x ATR. 5 - No TP on 2nd trade – letting profit run and adjusting SL to follow price. 6 - When 1st TP hit – move 2nd trade SL to breakeven. 7 - Adjust the 2nd trade SL to follow price. *8 – After Breakout candle – if price closes back into chart pattern close trade *9 - When breakout candle is more than 1 ATR from breakout candle open. a - Enter 1st trade at candle close with ½ position size. b - Enter 2nd trade with a pending limit order that is 1 ATR of breakout candle open. c – Price should pullback to that pending limit order for 2nd trade. d – If Price returns back into chart pattern close trade before SL is hit.
by Tradingstrategyguides
USDJPY 1D BEAR FLAG SHORT TRADEBear Flags are in the Range chart pattern family group. Bear Flags are repeatable trading chart patterns. Bear Flag chart patterns will have a directional bias depending on the previous incoming trend. Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern. What ever time frame you are trading this chart pattern, wait for a candle close outside of the trendline in the direction of the breakout candle. (Our time frame preference is the Daily chart). Add volume indicator - Volume is the amount of $ that went into a particular candle or in Forex the # of trades that took place. Add ATR indicator - Volatility is the amount of price movement that occurred. Use the ATR to measure the price movement. When you see descending Volume bars and descending ATR line (which indicates volatility) this shows a dis-interest in traders to invest in this pair creating consolidation which creates the chart pattern. Trade Management after there is a breakout candle close. 1 - Position size (compare volume bar to volume ma line). a - Breakout candle must be 100% of average volume for a full position size. b - If 75% of average volume then ½ position size. (To find 75% of Volume look at the charts volume settings – divide smaller # into larger # = 75%+) 2 - Enter two trades. 3 - SL for both trades will be 1.5 x ATR. 4 - 1st trade TP will be 1 x ATR. 5 - No TP on 2nd trade – letting profit run and adjusting SL to follow price. 6 - When 1st TP hit – move 2nd trade SL to breakeven. 7 - Adjust the 2nd trade SL to follow price. *8 – After Breakout candle – if price closes back into chart pattern close trade *9 - When breakout candle is more than 1 ATR from breakout candle open. a - Enter 1st trade at candle close with ½ position size. b - Enter 2nd trade with a pending limit order that is 1 ATR of breakout candle open. c – Price should pullback to that pending limit order for 2nd trade. d – If Price returns back into chart pattern close trade before SL is hit.
Short
by Tradingstrategyguides
DISH NETWORK 1D ASCENDING BULLISH TRIANGLE BREAKOUTAscending Triangle are repeatable trading chart patterns. Ascending chart patterns will have a directional bias depending on the previous incoming trend. Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern. What ever time frame you are trading this chart pattern, wait for a candle close outside of the trendline in the direction of the breakout candle. (Our time frame preference is the Daily chart). Add volume indicator - Volume is the amount of $ that went into a particular candle or in Forex the # of trades that took place. Add ATR indicator - Volatility is the amount of price movement that occurred. Use the ATR to measure the price movement. When you see descending Volume bars and descending ATR line (which indicates volatility) this shows a dis-interest in traders to invest in this pair creating consolidation which creates the chart pattern. Trade Management after there is a breakout candle close. 1 - Position size (compare volume bar to volume ma line). a - Breakout candle must be 100% of average volume for a full position size. b - If 75% of average volume then ½ position size. (To find 75% of Volume look at the charts volume settings – divide smaller # into larger # = 75%+) 2 - Enter two trades. 3 - SL for both trades will be 1.5 x ATR. 4 - 1st trade TP will be 1 x ATR. 5 - No TP on 2nd trade – letting profit run and adjusting SL to follow price. 6 - When 1st TP hit – move 2nd trade SL to breakeven. 7 - Adjust the 2nd trade SL to follow price. *8 – After Breakout candle – if price closes back into chart pattern close trade *9 - When breakout candle is more than 1 ATR from breakout candle open. a - Enter 1st trade at candle close with ½ position size. b - Enter 2nd trade with a pending limit order that is 1 ATR of breakout candle open. c – Price should pullback to that pending limit order for 2nd trade. d – If Price returns back into chart pattern close trade before SL is hit.
DLong
by Tradingstrategyguides
3
ADA/BTC Breakout to New Local HighsIn this chart we're looking at ADABTC on the 1D chart as price has consolidated into a rectangle . Price has not broken out through the horizontal boundary at 536 yet, so we're adding this to our watchlist. A breakout will be confirmed once price prints a 1D candle above the 544 price line. This rectangle has a price target of around 670 for about a 25% gain. Crypto assets tend to break out violently, so if this occurs, I will simply look for a pullback to the horizontal chart pattern boundary in the following days. If you would like to see more of these ideas on a regular basis, follow me as I will be posting many more exciting chances to earn on chart pattern breakouts this upcoming year! Drop a like or comment if you found this idea interesting or helpful in any way! Cheers!
Long
by TheLuckyS7ven
AAON Breakout to All-Time HighIn this chart we're looking at AAON on the 1D chart as price has consolidated into a rectangle. Price has broken out through the horizontal boundary at $52.50 and has confirmed the breakout by breaking through the $53.29 area. This rectangle has a price target of around $61.67 for about a ~17.5% gain. This chart pattern breakout is occurring above the 200EMA, so the probability for price continuing to the upside is even higher. If you would like to see more of these ideas on a regular basis, follow me as I will be posting many more exciting chances to earn on chart pattern breakouts this upcoming year! Drop a like or comment if you found this idea informational or helpful in any way! Cheers!
NASDAQ:AAONLong
by TheLuckyS7ven
CADJPY 1D MA-X STRATEGY CONTINUATION LONG Tim's MA-X Strategy. This is a Moing Average Cross or MA-X strategy setup. MA-X strategy consists of the 100 period simple moving average (SMA) in red, and the 20 period exponential moving average in blue. If the 20 ema is above the 100 sma then we only take buys or longs. If the 20 ema is below the 100 sma the we only take selss or shorts. *In this case price is above the 100 sma so we will only take buys or longs. *This Pair has been in a nice uptrend foe some time. *It's now pulled back below the 20 ema and consolidating below the 20. *We are going to look for a close above the 20 ema to go long. *This trade plan we buy a daily candle close above the 20 ema. On the breaking candle to enter a full-sized position we want to the volume bar reach up to the volume average. If it doesn't reach the average but does reach 75% of the average open a ½ size position to reduce risk. You can calculate the percentage by dividing the first volume average by the second volume average. You should at least get 75%, if you don't then stand aside on the trade. The stop loss will be 1.5 x ATR. The first target will be 1 x ATR. So the way that works is you get your candle close above the 20 ema that's your entry point. At that time you look at the ATR of that candle. You multiply that by 1.5 to get your SL. You measure that distance behind the entry and that will be your SL. Then you measure 1 ATR above the entry and that will be your first target. If after entering the trade the candle closes back below the 20 ema, tke the loss right then. Do not wait for price to hit the SL. Our intention is that a breakout above the 20 ema should be explosive and hit our target fairly quickly. If the momentum goes away we want to shut the trade down without taking a full stop if possible. When price hits our first target, close half the position for profit and set the SL to break even on the remainder. Follow stops as price moves in our direction until the market takes us out. These two rules are the very definition of cuttoing your losses and letting your winners run. Typically does this by using two positions. The first position has a stop loss and a take profit. That position will close automatically when the first target is hit. The second position will only have a stop loss and not take profit. This is the position that will be allowed to run. When the first target is hit we have to manually move our stop up to break even on the second position. Risk only two percent of your trading account of each trade. Each position will then only be 1%.
Long
by Tradingstrategyguides
ROKU 1D TRIANGLE BREAKOUT TRADESTriangles are repeatable trading chart patterns. Triangles are consolidation chart patterns that can breakout either direction. Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern. What ever time frame you are trading this chart pattern, wait for a candle close outside of the trendline in the direction of the breakout candle. (Our time frame preference is the Daily chart). Add volume indicator - Volume is the amount of $ that went into a particular candle or in Forex the # of trades that took place. Add ATR indicator - Volatility is the amount of price movement that occurred. Use the ATR to measure the price movement. When you see descending Volume bars and descending ATR line (which indicates volatility) this shows a dis-interest in traders to invest in this pair creating consolidation which creates the chart pattern. Trade Management after there is a breakout candle close. 1 - Position size (compare volume bar to volume ma line). a - Breakout candle must be 100% of average volume for a full position size. b - If 75% of average volume then ½ position size. (To find 75% of Volume look at the charts volume settings – divide smaller # into larger # = 75%+) 2 - Enter two trades. 3 - SL for both trades will be 1.5 x ATR. 4 - 1st trade TP will be 1 x ATR. 5 - No TP on 2nd trade – letting profit run and adjusting SL to follow price. 6 - When 1st TP hit – move 2nd trade SL to breakeven. 7 - Adjust the 2nd trade SL to follow price. *8 – After Breakout candle – if price closes back into chart pattern close trade *9 - When breakout candle is more than 1 ATR from breakout candle open. a - Enter 1st trade at candle close with ½ position size. b - Enter 2nd trade with a pending limit order that is 1 ATR of breakout candle open. c – Price should pullback to that pending limit order for 2nd trade. d – If Price returns back into chart pattern close trade before SL is hit.
NASDAQ:ROKU
by Tradingstrategyguides
SWN Breakdown to New Local LowsIn this chart we're looking at SWN on the 1D chart as price has consolidated into a rectangle. Price has broken down through the horizontal boundary around $1.78 and has confirmed the breakdown after printing a 1D candle through the $1.73 area. This rectangle has a price target of around $1.11 for about a ~37% gain. If you would like to see more of these ideas on a regular basis, follow me as I will be posting many more exciting chances to earn on chart pattern breakouts this upcoming year! Drop a like or comment if you found this idea informational or helpful in any way! Cheers!
SShort
by TheLuckyS7ven
1
NZDCAD 1D MA-X STRATEGY LONG TRADETim's MA-X Strategy. This is a Moing Average Cross or MA-X strategy setup. MA-X strategy consists of the 100 period simple moving average (SMA) in red, and the 20 period exponential moving average in blue. If the 20 ema is above the 100 sma then we only take buys or longs. If the 20 ema is below the 100 sma the we only take selss or shorts. *In this case price is above the 100 sma so we will only take buys or longs. *This Pair has been in a nice uptrend foe some time. *It's now pulled back below the 20 ema and consolidating below the 20. *We are going to look for a close above the 20 ema to go long. *This trade plan we buy a daily candle close above the 20 ema. On the breaking candle to enter a full-sized position we want to the volume bar reach up to the volume average. If it doesn't reach the average but does reach 75% of the average open a ½ size position to reduce risk. You can calculate the percentage by dividing the first volume average by the second volume average. You should at least get 75%, if you don't then stand aside on the trade. The stop loss will be 1.5 x ATR. The first target will be 1 x ATR. So the way that works is you get your candle close above the 20 ema that's your entry point. At that time you look at the ATR of that candle. You multiply that by 1.5 to get your SL. You measure that distance behind the entry and that will be your SL. Then you measure 1 ATR above the entry and that will be your first target. If after entering the trade the candle closes back below the 20 ema, tke the loss right then. Do not wait for price to hit the SL. Our intention is that a breakout above the 20 ema should be explosive and hit our target fairly quickly. If the momentum goes away we want to shut the trade down without taking a full stop if possible. When price hits our first target, close half the position for profit and set the SL to break even on the remainder. Follow stops as price moves in our direction until the market takes us out. These two rules are the very definition of cuttoing your losses and letting your winners run. Typically does this by using two positions. The first position has a stop loss and a take profit. That position will close automatically when the first target is hit. The second position will only have a stop loss and not take profit. This is the position that will be allowed to run. When the first target is hit we have to manually move our stop up to break even on the second position. Risk only two percent of your trading account of each trade. Each position will then only be 1%.
Long
by Tradingstrategyguides
PLANET FITNESS 1D RANGE TRADESRanges are repeatable trading chart patterns. Ranges are consolidation chart patterns that can breakout either direction. Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern. What ever time frame you are trading this chart pattern, wait for a candle close outside of the trendline in the direction of the breakout candle. (Our time frame preference is the Daily chart). Add volume indicator - Volume is the amount of $ that went into a particular candle or in Forex the # of trades that took place. Add ATR indicator - Volatility is the amount of price movement that occurred. Use the ATR to measure the price movement. When you see descending Volume bars and descending ATR line (which indicates volatility) this shows a dis-interest in traders to invest in this pair creating consolidation which creates the chart pattern. Trade Management after there is a breakout candle close. 1 - Position size (compare volume bar to volume ma line). a - Breakout candle must be 100% of average volume for a full position size. b - If 75% of average volume then ½ position size. (To find 75% of Volume look at the charts volume settings – divide smaller # into larger # = 75%+) 2 - Enter two trades. 3 - SL for both trades will be 1.5 x ATR. 4 - 1st trade TP will be 1 x ATR. 5 - No TP on 2nd trade – letting profit run and adjusting SL to follow price. 6 - When 1st TP hit – move 2nd trade SL to breakeven. 7 - Adjust the 2nd trade SL to follow price. *8 – After Breakout candle – if price closes back into chart pattern close trade *9 - When breakout candle is more than 1 ATR from breakout candle open. a - Enter 1st trade at candle close with ½ position size. b - Enter 2nd trade with a pending limit order that is 1 ATR of breakout candle open. c – Price should pullback to that pending limit order for 2nd trade. d – If Price returns back into chart pattern close trade before SL is hit.
NYSE:PLNT
by Tradingstrategyguides
USDMXN - HOW TO TRADE WEEKLY SIGNALS WITHOUT BREAKING THE BANKThe weekly trade signals are very powerful to trade but the weekly stop losses are so large it makes you trade very small size positions. It takes a long time for a weekly entry to hit it's first target. This technique takes that built up explosive energy in a huge weekly pattern. But to trade a size that will make it worth while and to get in and out of the trade more quickly. The weekly chart shows the week of Dec. 9th is the candle that triggered the trade. It closed on Dec 13th at an ATR of .3457. This pair moves a hugh amount of pips every day. Weekly ATR = .3457 Weekly candle close entry @ 19.00 Weekly SL is 1.5 x ATR (.3457) = .5186 pip SL or SL @ 19.5156 Weekly 1st TP is 1 x ATR = .3457 pip TP or TP @ 18.65 Use the free trade size calculator at our TSG website under free tools. Demo Acct Size $10,000 Risk Percentage 1% (open two positions of 1% each) & SL of 5186 pips = You can trade 3.62 Micro Lots or 3 micro lot trade size. You still watch weekly chart for breakout setup but use 1st Daily chart for SL & TP. Your alternative option is to use the Daily SL & TP for the daily breakout candle close. Dec. 9th Daily Close breakout candle. Daily ATR = .1361. Daily candle close entry @ 19.24. Daily SL is 1.5 x ATR (.1361) = .2041 pip SL or SL @ 19.44. Daily 1st TP is 1 x ATR = .1361 pip TP or TP @ 19.1039. Free Trade Size Calculator - Demo Acct Size $10,000 Risk 1% with SL of .2041 You can trade 9.59 Micro Lots or 9 Micro lots. Your Daily 1st TP is closer now also at 19.1039 which your are trading with 9 miro lots. 1st TP was hit on 4th day. USDMXN 1W trade was tied up for 5 weeks with 6 micro lots without hitting 1st TP. Use Weekly Chart Pattern Trade set. But use 1st Day Candle Breakout Close for Trade Management data. No reason to use full week numbers on a weekly trade signal. This applies to all markets that you trade. We often see big patterns on indexes and metals where you can use this technique to shorten your trades. This also allows you to use a bigger size. Much better to see your TP hit in a day or two.
Education
by Tradingstrategyguides
STNE 1D ASCENDING TRIANGLE LONG BREAKOUT TRADEAscending Triangles are repeatable trading chart patterns. T Ascending patterns will have a directional bias depending on the previous incoming trend. Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern. What ever time frame you are trading this chart pattern, wait for a candle close outside of the trendline in the direction of the breakout candle. (Our time frame preference is the Daily chart). Add volume indicator - Volume is the amount of $ that went into a particular candle or in Forex the # of trades that took place. Add ATR indicator - Volatility is the amount of price movement that occurred. Use the ATR to measure the price movement. When you see descending Volume bars and descending ATR line (which indicates volatility) this shows a dis-interest in traders to invest in this pair creating consolidation which creates the chart pattern. Trade Management after there is a breakout candle close. 1 - Position size (compare volume bar to volume ma line). a - Breakout candle must be 100% of average volume for a full position size. b - If 75% of average volume then ½ position size. (To find 75% of Volume look at the charts volume settings – divide smaller # into larger # = 75%+) 2 - Enter two trades. 3 - SL for both trades will be 1.5 x ATR. 4 - 1st trade TP will be 1 x ATR. 5 - No TP on 2nd trade – letting profit run and adjusting SL to follow price. 6 - When 1st TP hit – move 2nd trade SL to breakeven. 7 - Adjust the 2nd trade SL to follow price. *8 – After Breakout candle – if price closes back into chart pattern close trade *9 - When breakout candle is more than 1 ATR from breakout candle open. a - Enter 1st trade at candle close with ½ position size. b - Enter 2nd trade with a pending limit order that is 1 ATR of breakout candle open. c – Price should pullback to that pending limit order for 2nd trade. d – If Price returns back into chart pattern close trade before SL is hit.
NASDAQ:STNELong
by Tradingstrategyguides
XPTUSD 1D ASCENDING TRIANGLE BREAKOUT LONG TRADEPlatinum Ascending Triangle Breakout Long Trade Ascending Triangles are repeatable trading chart patterns. Ascending chart patterns will have a directional bias depending on the previous incoming trend. Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern. What ever time frame you are trading this chart pattern, wait for a candle close outside of the trendline in the direction of the breakout candle. (Our time frame preference is the Daily chart). Add volume indicator - Volume is the amount of $ that went into a particular candle or in Forex the # of trades that took place. Add ATR indicator - Volatility is the amount of price movement that occurred. Use the ATR to measure the price movement. When you see descending Volume bars and descending ATR line (which indicates volatility) this shows a dis-interest in traders to invest in this pair creating consolidation which creates the chart pattern. Trade Management after there is a breakout candle close. 1 - Position size (compare volume bar to volume ma line). a - Breakout candle must be 100% of average volume for a full position size. b - If 75% of average volume then ½ position size. (To find 75% of Volume look at the charts volume settings – divide smaller # into larger # = 75%+) 2 - Enter two trades. 3 - SL for both trades will be 1.5 x ATR. 4 - 1st trade TP will be 1 x ATR. 5 - No TP on 2nd trade – letting profit run and adjusting SL to follow price. 6 - When 1st TP hit – move 2nd trade SL to breakeven. 7 - Adjust the 2nd trade SL to follow price. *8 – After Breakout candle – if price closes back into chart pattern close trade *9 - When breakout candle is more than 1 ATR from breakout candle open. a - Enter 1st trade at candle close with ½ position size. b - Enter 2nd trade with a pending limit order that is 1 ATR of breakout candle open. c – Price should pullback to that pending limit order for 2nd trade. d – If Price returns back into chart pattern close trade before SL is hit.
OANDA:XPTUSDLong
by Tradingstrategyguides