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ES1! 1D BEAR FLAG SHORT TRADEBear Flags are a Range Chart Pattern. Ranges are repeatable trading chart patterns. Triangles and ranges are consolidation chart patterns that can breakout either direction. Ascending Bear Flags chart patterns will have a directional bias (Shortn Trade) 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 volume average for a full position size. b - If 75% of volume average then ½ position size. (To find 75% of Volume look at the charts volume settings – divide smaller # into larger # = 75%+) If not 75% then stand aside from the trade. 2 – If candle breaks out of a trendline, 15m before the close of the day prepare your buy/sell order. Enter two trades. 1st trade will have a SL & TP. It will close automatically when the 1st TP is hit. 2nd trade only has a SL and will be allowed to run. When 1st TP is hit move the SL to breakeven. Look at ATR and prepare SL at 1.5 of ATR. Prepare 1st trade TP at 1 of ATR. 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 don't wait for SL to be hit. *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.
CME_MINI:ES1!Short
by Tradingstrategyguides
2
TSLA 4H TRIANGLE BREAKOUTTriangles are repeatable trading chart patterns. Triangles and 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 volume average for a full position size. b - If 75% of volume average then ½ position size. (To find 75% of Volume look at the charts volume settings – divide smaller # into larger # = 75%+) If not 75% then stand aside from the trade. 2 – If candle breaks out of a trendline, 15m before the close of the day prepare your buy/sell order. Enter two trades. 1st trade will have a SL & TP. It will close automatically when the 1st TP is hit. 2nd trade only has a SL and will be allowed to run. When 1st TP is hit move the SL to breakeven. Look at ATR and prepare SL at 1.5 of ATR. Prepare 1st trade TP at 1 of ATR. 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 don't wait for SL to be hit. *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:TSLALong
by Tradingstrategyguides
2
EURGBP 1D DESCENDING TRIANGLEDescending Triangles are repeatable trading chart patterns. Descending chart patterns will have a directional bias (Short) 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 volume average for a full position size. b - If 75% of volume average then ½ position size. (To find 75% of Volume look at the charts volume settings – divide smaller # into larger # = 75%+) If not 75% then stand aside from the trade. 2 – If candle breaks out of a trendline, 15m before the close of the day prepare your buy/sell order. Enter two trades. 1st trade will have a SL & TP. It will close automatically when the 1st TP is hit. 2nd trade only has a SL and will be allowed to run. When 1st TP is hit move the SL to breakeven. Look at ATR and prepare SL at 1.5 of ATR. Prepare 1st trade TP at 1 of ATR. 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 don't wait for SL to be hit. *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
6
ETCUSD 1D RANGE TRADINGRanges 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 volume average for a full position size. b - If 75% of volume average then ½ position size. (To find 75% of Volume look at the charts volume settings – divide smaller # into larger # = 75%+) If not 75% then stand aside from the trade. 2 – If candle breaks out of a trendline, 15m before the close of the day prepare your buy/sell order. Enter two trades. 1st trade will have a SL & TP. It will close automatically when the 1st TP is hit. 2nd trade only has a SL and will be allowed to run. When 1st TP is hit move the SL to breakeven. Look at ATR and prepare SL at 1.5 of ATR. Prepare 1st trade TP at 1 of ATR. 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 don't wait for SL to be hit. *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.
BINANCE:ETCUSD
by Tradingstrategyguides
EURAUD 15M UNIDIRECTIONAL TRADING STRATEGYUnidirectional Trade Strategy STEP 1 - The first step to start trading is to choose the right market to trade and the best time of the day to trade. You chose a market and you stick with it until you master it. For the purpose of his unidirectional trade strategy review, we’re going to stick with trading FOREX. Moving forward, we’re going to lay down some rules to trade only in one direction. STEP 2 - Only Buy if We Trade Above the Opening Price We’re not going to predict which way to trade, but instead, we’re going to go along with the intraday momentum strategy. What we mean by this is simple: If the market price trades above the opening price of the new trading day, it’s an indication that the buyers are in control, so we want to go along with the flow of the market. The other alternative is to try to guess the market, which is a lot harder. Note* conversely, if the price is below the opening price we only trade on the short side. Since we’re trading within the forex market, we want to focus only on the major trading session like the forex London market and the New York sessions. Step 3 - Buy at the First Green Candle that closes above the Opening price of the New Trading Day. We need to clarify some rules: If during the first hours of trading the market has spent most of its time above the opening price our bias for that day is up, and we only look to buy. Conversely, if during the first hours of trading the market has spent most of its time below the opening price our bias for that day is bearish and we only look to sell. When the next major trading session opens (i.e. The London session) we look for the first bullish candle that closes above the opening price to trigger our entry: You can actually buy each time you see the price retesting and getting rejected from the opening price. We’re going to use the same rules and buy at the first bullish candle that closes above the daily opening price. Now, you may be asking yourself: “What if the market is already above the opening price?” “How do we enter?” Buy after each two consecutive bullish candles. Or, if you have a big bullish candle with its trading range bigger than the surrounding candles, you can go ahead and buy. Step 4 - You determine your own Take Profit levels or Take Profit Equals 2 times ATR We are going to use the average true range (ATR) indicator which measures the price volatility. This will give us a more efficient way to pinpoint the dynamic exit price level. As our profit target, we’re going to use the 14-period ATR applied to the 15-minute chart and multiply that by 2. For example, if the ATR is 5 pips our take profit will be 2 x ATR, which is 10 pips. Here are some of the advantages that come with trading only in one direction: Trading along with the momentum. A big profit potential on strong trading days. Reduces risk and improves the risk-reward ratio. Final Words – Unidirectional Trading Strategy In summary, a unidirectional trading strategy is an easy-to-use approach that is a great way for novice traders to get their feet wet. Short-term traders are better off with our unidirectional intraday trading strategy because they can profit without predicting the market. The bottom line is that if you stay nimble and react to the current market price, you’re better than trying to forecast the market. When you’re tied to your predictions you’re blinded to what’s really going on in the market. Keep it simple and trade in one direction! Thank you for reading!
Education
by Tradingstrategyguides
2
LULU 1D TRIANGLE BREAKOUTTriangles 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 volume average for a full position size. b - If 75% of volume average then ½ position size. (To find 75% of Volume look at the charts volume settings – divide smaller # into larger # = 75%+) If not 75% then stand aside from the trade. 2 – If candle breaks out of a trendline, 15m before the close of the day prepare your buy/sell order. Enter two trades. 1st trade will have a SL & TP. It will close automatically when the 1st TP is hit. 2nd trade only has a SL and will be allowed to run. When 1st TP is hit move the SL to breakeven. Look at ATR and prepare SL at 1.5 of ATR. Prepare 1st trade TP at 1 of ATR. 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 don't wait for SL to be hit. *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:LULU
by Tradingstrategyguides
1
CHEWY 1D ASCENDING TRIANGLEAscending 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 volume average for a full position size. b - If 75% of volume average then ½ position size. (To find 75% of Volume look at the charts volume settings – divide smaller # into larger # = 75%+) If not 75% then stand aside from the trade. 2 – If candle breaks out of a trendline, 15m before the close of the day prepare your buy/sell order. Enter two trades. 1st trade will have a SL & TP. It will close automatically when the 1st TP is hit. 2nd trade only has a SL and will be allowed to run. When 1st TP is hit move the SL to breakeven. Look at ATR and prepare SL at 1.5 of ATR. Prepare 1st trade TP at 1 of ATR. 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 don't wait for SL to be hit. *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:CHWYLong
by Tradingstrategyguides
XAGUSD 1D DESCENDING TRIANGLEDescending Triangles are repeatable trading chart patterns. Descending 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 volume average for a full position size. b - If 75% of volume average then ½ position size. (To find 75% of Volume look at the charts volume settings – divide smaller # into larger # = 75%+) If not 75% then stand aside from the trade. 2 – If candle breaks out of a trendline, 15m before the close of the day prepare your buy/sell order. Enter two trades. 1st trade will have a SL & TP. It will close automatically when the 1st TP is hit. 2nd trade only has a SL and will be allowed to run. When 1st TP is hit move the SL to breakeven. Look at ATR and prepare SL at 1.5 of ATR. Prepare 1st trade TP at 1 of ATR. 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 don't wait for SL to be hit. *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:XAGUSDShort
by Tradingstrategyguides
CMCSA 1D BIG 3 INDICATORBig Three Sub-Chart Indicator turned Green after the Day Candle Closed for an Entry Signal. Big Three Sub-Chart Indicator shows a Long Entry Signal when the Sub-Chart Bar turned Green after the Day Candle Closed. Big Three Indicator shows a Long Entry Signal when the Big 3 Indicator background turned Green after the Day Candle Closed Entered Long Trade at Daily Candle Close. Close Trade when Sub-ChartBar & Big 3 Indicator Line changes to Yellow or Red.
NASDAQ:CMCSALong
by Tradingstrategyguides
GOLD & THE TUESDAY NIGHT? WINS STOCK MARKET RALLY ? WINS STOCK MARKET DOWNTURN NO WINNER TONIGHT STOCK MARKET SEVERE DOWNTURN BECAUSE STOCK MARKET DOES NOT LIKE UNCERTAINTY. Descending Chart Pattern Price Bias is Bearish While gold has an inverse relationship with the dollar, stocks markets also have a deep connection to the metal. Investors commonly perceive gold as a haven in the event of a severe stock market downturn. ... Typically, stocks have a high negative correlation with the US dollar . However, gold has an opposite relationship.
OANDA:XAUUSDEducation
by Tradingstrategyguides
1
20 Days Trading CalculatorThis is my 20 Days trading calculator , i will share it for free..😊 Forex trading it's very simple, you just need to be content with small steps. That's all trading is.😊 Small steps that you take every day so when you look back down the road it all adds up and you know you covered some distance. It took me a long time to accept that, but it's true.😊 If most traders would learn to sit on their hands 50 percent of the time, they would make a lot more money. 😊 You need to have patience.😊
by Ghost_Trader_SA
WHY DID THE BULLISH CONTINUATION MOVE FAIL?What does "End of Month Square Up" mean. A square position is a situation where a trader or portfolio has no market exposure. ... The reason for this confusion is that the term "squaring up" is used to describe settling open trades before the market closes. A square position is also referred to as a "flat position." Square position, like many trading terms, can take on a different nuance depending on the speaker. For an individual forex trader, a square position can refer to offsetting long and short positions in the same currency pair or a situation where a currency trader holds no positions in the market. The reason for this confusion is that the term "squaring up" is used to describe settling open trades before the market closes. Squaring usually refers to just a few positions, but a trader could close out all of his open positions and get out of the market. The "Market Makers" can use this trading principle as they move the market. E/U had a Bullish Trend which became a consolidated range. Price had a Bearish Breakout of the Range bottom which failed. Price created Higher Highs and Higher Low making it appear a Bullish Continuation move was happening. This drew in long traders leaving behind lots of money tied up in Stop Losses. The Market Makers can tell where the most money is tied up on the Long side or Short Side. It seems to appear that the Market Makers made the Bullish Continuation Reversal fail and took out the Stop Losses at the Higher Low entry point and also the 50% reversal entry point. All of this happening the last few days of the End of the Month of October. Could this be an example of the "END OF MONTH SQUARE UP?"
Education
by Tradingstrategyguides
SONY 1D BIG THREE SUB-CHART INDICATORBig Three Sub-Chart Indicator turned Green after the Day Candle Closed for an Entry Signal. Big Three Sub-Chart Indicator shows a Long Entry Signal when the Sub-Chart Bar turned Green after the Day Candle Closed. Big Three Indicator shows a Long Entry Signal when the Big 3 Indicator line turned Green after the Day Candle Closed Entered Long Trade at Daily Candle Close. Close Trade when Sub-ChartBar & Big 3 Indicator Line changes to Yellow or Red.
SLong
by Tradingstrategyguides
DASHUSD 1D RANGE TRADINGRanges 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 volume average for a full position size. b - If 75% of volume average then ½ position size. (To find 75% of Volume look at the charts volume settings – divide smaller # into larger # = 75%+) If not 75% then stand aside from the trade. 2 – If candle breaks out of a trendline, 15m before the close of the day prepare your buy/sell order. Enter two trades. 1st trade will have a SL & TP. It will close automatically when the 1st TP is hit. 2nd trade only has a SL and will be allowed to run. When 1st TP is hit move the SL to breakeven. Look at ATR and prepare SL at 1.5 of ATR. Prepare 1st trade TP at 1 of ATR. 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 don't wait for SL to be hit. *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.
BINANCE:DASHUSD
by Tradingstrategyguides
AUDUSD 15M SCALP SHORT TRADE US SESSIONStacey Burkes TSG Podcast Ep. #18 Forex Trading Strategy. US SESSION 3 Hour Window Starting at 8 am EDT Ending at 11 am EDT Step 1 Highest Bullish Candle Inside US 3 hr window. Step 2 Bearish Pin Bar 2nd candle in US window. Step 3 Enter Sell Trade when Price Engulfed the bottom of the High Bull Candle. Step 4 Market Makers Stop Hunt Bullish Wick Confirmation for Short Entry Traders. Step 5 SL above current swing high. Step 6 EXIT - Close Short Trade after Price crossed Bullish Resistance.
Education
by Tradingstrategyguides
3
EURAUD 15M SCALP LONG TRADE US SESSIONStacey Burkes TSG Podcast Ep. #18 Forex Trading Strategy. US SESSION 3 Hour Window Starting at 8 am EDT Ending at 11 am EDT Step 1 Lowest Bearish Candle Inside US 3 hr window Step 2 Bullish Pin Bar 2nd candle in US window. Step 3 Bullish Engulfing Candle Entered at Candle Close. Step 4 Market Makers Stop Hunt Bearish Pin Bar Confirmation for Long Entry Traders. Step 5 SL below Entry Candle Step 6 EXIT - Close Long Trade after RailRoad Tracks Bearish Reversal Candle Pattern with 61 pip profit.
Education
by Tradingstrategyguides
4
LITE CRUDE OIL FUTURES 1DRanges 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 volume average for a full position size. b - If 75% of volume average then ½ position size. (To find 75% of Volume look at the charts volume settings – divide smaller # into larger # = 75%+) If not 75% then stand aside from the trade. 2 – If candle breaks out of a trendline, 15m before the close of the day prepare your buy/sell order. Enter two trades. 1st trade will have a SL & TP. It will close automatically when the 1st TP is hit. 2nd trade only has a SL and will be allowed to run. When 1st TP is hit move the SL to breakeven. Look at ATR and prepare SL at 1.5 of ATR. Prepare 1st trade TP at 1 of ATR. 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 don't wait for SL to be hit. *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.
NYMEX:CL1!
by Tradingstrategyguides
1