Hi pros!
Short in the blue box
Winning ratio 8
Trading plan:
-2 or 3% MM no leverage
-move SL to break even when 1:1 or 1:2 winning ratio
Identifying the Pattern
Identifying a bear flag can be easy once you know what you’re looking for. The pattern itself is divided into three parts. First we need to find the flag pole which will be identified as our initial decline. This decline can be steep or slowly sloping and will establish the basis for our trend. Next we have the flag itself. This is identified as a period of consolidation after the completion of prices initial decline. During this period, prices may slowly channel upward and retrace a portion of the initial move. At this point traders will wait for price to break to lower lows in the direction of the trend.
After price begins to move lower again, we can then find the final component needed for trading a bearish flag pattern. The profit target is a potential value to take profit after a currency pair’s next decline in price. This pricing level can be identified by first measuring the distance in pips of our initial decline. This value can then be subtracted from the peak resistance line formed from our consolidating flag. Now that we know what we are looking for, let’s look at an example in today’s market.
Short in the blue box
Winning ratio 8
Trading plan:
-2 or 3% MM no leverage
-move SL to break even when 1:1 or 1:2 winning ratio
Identifying the Pattern
Identifying a bear flag can be easy once you know what you’re looking for. The pattern itself is divided into three parts. First we need to find the flag pole which will be identified as our initial decline. This decline can be steep or slowly sloping and will establish the basis for our trend. Next we have the flag itself. This is identified as a period of consolidation after the completion of prices initial decline. During this period, prices may slowly channel upward and retrace a portion of the initial move. At this point traders will wait for price to break to lower lows in the direction of the trend.
After price begins to move lower again, we can then find the final component needed for trading a bearish flag pattern. The profit target is a potential value to take profit after a currency pair’s next decline in price. This pricing level can be identified by first measuring the distance in pips of our initial decline. This value can then be subtracted from the peak resistance line formed from our consolidating flag. Now that we know what we are looking for, let’s look at an example in today’s market.
Comment:
5. Never stop learning and working on yourself
Comment:
You see the importance of setting a SL
Trading is a dangerous zone(and crypto more), always set a loss that you can afford
2 or 3% without leverage in our plan was responsible and not so painfull
It's hard to fail, but it's worse to have never tried to succeed.
Theodore Roosevelt
Trading is a dangerous zone(and crypto more), always set a loss that you can afford
2 or 3% without leverage in our plan was responsible and not so painfull
It's hard to fail, but it's worse to have never tried to succeed.
Theodore Roosevelt