We wanted to publish this trade idea today based on a strategy we named "Big Three"
To make it easy for you to see how it works were going to lay out basic rules of the strategy...
Here they are:
First thing you are going to want to do is apply 20 - 40 - 80 sma to chart. Second, determine trend - price is below ma's - Bearish
Step 1 wait for red candle close below ma's Step 2 watch for bullish pullback Step 3 enter on red candle close below ma's Step 4 SL above ma's Step 5 you determine based on price analysis TP
So based on the rules, and based on our price action analysis of this right now, we see a good SELL zone around the area of 6262
We'll keep this updated if anything changes.
let us know in the comments if you have any questions for feedback related to BTC right now.
Thanks guys!
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Still in the zone and looks like it is close to breaking below this trend line.
No trade here, but keep an eye on this. I think if it moves, it will do this QUICK!
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Breakout setup on 2H, 30m and 5m chart 5m break-hook-go complete Waiting for 5m candle to break support level Enter on a 5m candle close or more conservative entry would be after another 5m break-hook go of the supper level.
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My entry on a 5m support level candle close
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Here will be my 1st exit where I will take 1/2 off of my trade Then @ 5995 I will watch again for either a breakout candle close or a breadk-hook-go pattern to complete.
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HERE IS A VIEW FROM THE MONTHLY, 4H AND 30M
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Here is a view from Day, 4H, 1H and 15M
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1st Take Profit Hit I personally closed my complete trade waiting for the next move
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Possible Bearish continuation move down to weekly support @ 5810 Watch for a break-hook-go pattern on a 5m or 15m chart
Possible Bullish reversal move back up to 6265 Watch for same breakout pattern as above
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Some possible movement happening
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1H chart - possible bullish pullback completed at 38.2% fib Trendline is currently been broken but Waiting for a 30m trendline breakout candle close
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Let's see what this 30m candle close will be. If closes below trendline and red line I am in short
This looks like a simple one look system. i like that, i don't want to analyse every chart when i'm looking for trades.
On forextester i did a quick test and it looks good.
But one question. Step 2 the pullback must it cross the MA? or can it stay under the MA in a downtrend or above a uptrend?
If you say SL above all MA's, which timeframe do you use then ?
Tradingstrategyguides
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@Arwen402,
whatever time frame gave you the buy/sell signal
Luschka041508
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I am new to trading and still learning how to see and predict price movement. Your charts are awesome clear and very helpful...Thank you for sharing... :)
Tradingstrategyguides
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@Luschka041508, Thank you for the comment. Give us a like to help support us.
Rutto
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Your charts are the best. I am new trader and I see you so accurate