In this graph, I used stochastic oscillator with parameter 8,3,3
The crossover worked well. Price actions showed it performed in trends by two times in 18 - May & 30 - May respectively.
When to buy ?
Mind Read:
1) There is a hidden bullish divergence follow points 1 & 2 (black) and 2 & 3 (black).
2) Strong low test bar at point 3 (black)
3) Double inside bars at point 3 (purple), will there be a big movement?
Assume point 3 (purple) to be the Fibonacci Retracement level 50%. A pending order will be triggered for this triangle breakout setup after double inside bars
When to sell ?
My target profit will be somewhere near 2955 to test the highest historical price. For a longer run, target is 3225.
Risk:
As this setup is a pending order, the stop loss will be near 2375 where Fibonacci Retracement 76.4% (slightly under the lowest price of double inside bars. Risk : Reward = 0.9
The crossover worked well. Price actions showed it performed in trends by two times in 18 - May & 30 - May respectively.
When to buy ?
Mind Read:
1) There is a hidden bullish divergence follow points 1 & 2 (black) and 2 & 3 (black).
2) Strong low test bar at point 3 (black)
3) Double inside bars at point 3 (purple), will there be a big movement?
Assume point 3 (purple) to be the Fibonacci Retracement level 50%. A pending order will be triggered for this triangle breakout setup after double inside bars
When to sell ?
My target profit will be somewhere near 2955 to test the highest historical price. For a longer run, target is 3225.
Risk:
As this setup is a pending order, the stop loss will be near 2375 where Fibonacci Retracement 76.4% (slightly under the lowest price of double inside bars. Risk : Reward = 0.9