For those who do not like to use fib or wave structure, I have a gem for you. These are indicators (names are on the chart but the red and green line on the chart is called x-trend) powerful if you use them together. 15 minute chart seems to have the best results. I back tested 50 times and win rate is 65%.
'The way you would want to use the indicators are the following: For Long-
1) QQE indicator must print orange to green bar coming off of consecutive red bars.
2) VFI indicator should show green line above or crossing up the orange line.
3) X-trend indicator must have a green bar above the green trend line.
4) If all 3 indicators are confluent, you can entertain a long trade. Stop Loss should be previous low or just under the green trend line. Also you can use ATR indicator and 2x whatever number it is showing you. Back test yourself with small acoount or paper trade or back test with previous price action.
Short trade is same principle but other way around what is explained above #1~3.
(I have circled on the chart for examples)
'The way you would want to use the indicators are the following: For Long-
1) QQE indicator must print orange to green bar coming off of consecutive red bars.
2) VFI indicator should show green line above or crossing up the orange line.
3) X-trend indicator must have a green bar above the green trend line.
4) If all 3 indicators are confluent, you can entertain a long trade. Stop Loss should be previous low or just under the green trend line. Also you can use ATR indicator and 2x whatever number it is showing you. Back test yourself with small acoount or paper trade or back test with previous price action.
Short trade is same principle but other way around what is explained above #1~3.
(I have circled on the chart for examples)