SETUP 1: Price moves down to the trendline and support.
Confirmations: Doji, engulfing candle forms in the dark grey box.
TP: At the next resistance up.
SETUP 2: Price breaks trendline and Resistance and retests.
Confirmation: Doji, Engulfing candle, Retest to the resistance that will become support.
TP: The goal here is to keep moving TP up as the price moves higher, like a manual trailing stop.
Price could obviously move in any direction from this point. A trade will only be considered if it meets the setup requirements.
Confirmations: Doji, engulfing candle forms in the dark grey box.
TP: At the next resistance up.
SETUP 2: Price breaks trendline and Resistance and retests.
Confirmation: Doji, Engulfing candle, Retest to the resistance that will become support.
TP: The goal here is to keep moving TP up as the price moves higher, like a manual trailing stop.
Price could obviously move in any direction from this point. A trade will only be considered if it meets the setup requirements.