If you're looking to get into ADX here's some of my suggested entries and exits.
there's actually 3 different strategies being shown, all color coded.
Might be a little hard to follow at first but it starts to make sense the longer you look at it lol
NOT FINANCIAL ADVICE
FIND YOUR OWN LEVELS
SUPPLEMENT W/ MINE
p.s. i love you
there's actually 3 different strategies being shown, all color coded.
Might be a little hard to follow at first but it starts to make sense the longer you look at it lol
NOT FINANCIAL ADVICE
FIND YOUR OWN LEVELS
SUPPLEMENT W/ MINE
p.s. i love you
Trade active:
IMPORTANT
turns out we haven't really tested .00005998 as resistance, you can see for yourself.
look at the upward wicks below 5998 and notice how none of them actually touch it directly. Always just below or above. This could mean absolutely nothing, or it can mean the world. It all really depends who is looking at these levels, how much power they have in the market, and whether or not they respect these levels.
Price could touch there and reject and shoot for a lower bottom. That's worst case scenario.
If you're in a long and not underwater i would suggest taking some off the table at .00005998
if you're underwater, i would keep the stop at 5753, or move it below this range and accumulate within the range. (5027-6775)
turns out we haven't really tested .00005998 as resistance, you can see for yourself.
look at the upward wicks below 5998 and notice how none of them actually touch it directly. Always just below or above. This could mean absolutely nothing, or it can mean the world. It all really depends who is looking at these levels, how much power they have in the market, and whether or not they respect these levels.
Price could touch there and reject and shoot for a lower bottom. That's worst case scenario.
If you're in a long and not underwater i would suggest taking some off the table at .00005998
if you're underwater, i would keep the stop at 5753, or move it below this range and accumulate within the range. (5027-6775)
Trade closed: stop reached:
5753 stopped hit.
I'm personally accumulating in the range, so this stop it doesn't really affect my trade.
BUT, if i did get stopped out here (at a loss) you COULD buy here between 5790 - 5627 in hopes that it breaks back up above 5790 but that's a super risky play. Better to just wait a couple of hours and see what levels are tested and plan from there.
Alternatively, 10-15% buy orders at each sig level wouldn't be a terrible plan either. Stop loss 5010-4985
I'm personally accumulating in the range, so this stop it doesn't really affect my trade.
BUT, if i did get stopped out here (at a loss) you COULD buy here between 5790 - 5627 in hopes that it breaks back up above 5790 but that's a super risky play. Better to just wait a couple of hours and see what levels are tested and plan from there.
Alternatively, 10-15% buy orders at each sig level wouldn't be a terrible plan either. Stop loss 5010-4985
Comment:
LOL turns out that risky play was the good play.
well.
well.
Comment:
we also tested 5998 on this move, both as support and resistance.
pretty sweet.
pretty sweet.
If you buy at the FOMO-iest entry make sure you have a decent amount to cost average just in case it does go for that .0005998 level.
if you buy at the FOMO entry, make sure you have a good amount to cost average at the conservative entry.
Stops can be exact or slightly below, depends on how paranoid you are about being stop hunted lol
If you plan on long term holding my recommendation would be to put buy orders at levels that haven't been tested yet (6459,5998,5398) with a sizable amount near the bottom and stop loss below the lowest local low (5015-5000)