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Bruce5836
Jul 3, 2022 2:38 AM

Best to wait for the Double Bottom Buy Long

AUD/CHFOANDA

Description

If price breaks the channel: Wait for 4-hour candle to close outside of channel. If 4-hour candle closes outside of channel (depending on time of day, see link about Time and Trade Management) wait for the next 4-hour candle to close. If it closes outside of channel, enter trade.

If price come to the top of the channel but refuses to break out. You can think about selling to the bottom of green trendline.

Best Option is to wait and see if it makes a double bottom. The green trendline is the best area for a buy.

If price breaks the green trendline, then wait for 1 or 2, 4-hour candle to close below before it's considered a true break.


I warrant that the information created and published is not prohibited, doesn't constitute investment advice, and isn't created solely for qualified investors.
Bruce Baines
Comments
Bruce5836
correction 7.4%
Bruce5836
Closed for weekend. .074% of capital Total profit.
Bruce5836
reduced position at .6640
Bruce5836
Added back Full position at .6540
Good example of the related link.
Bruce5836
I have made over 90 pips and have reduced my position 75%. For now.
Bruce5836
Entered Long at .6515
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