Very VERY Early Signs! Bullish Divergent Bar Forming...
Greetings everyone!
We have some VERY VERY early signs of a trend reversal based on the our daily candle. We look, we follow, we trade, we make money - it's simple. It goes up, it goes down - we follow.
Let me explain the strategy
If the daily closes in the upper half of the bar and our AO is confirming the momentum reversal (tommorow), then we are ready to Long our positions with 10-15% of our marked capital for this trade.
I'm placing my Long trade (buy in) just above the top of our daily candle at the level of 8.400 with 15% of my marked capital. Then i place my Sell Stop (stop loss) at 8.000 levels and cutting loses if the first sign of reversal doesn't stand up. We are not HODLERS, we are cutting loses and gaining profit - thats trading.
We want the momentum to track a long before we go deeper in this Long trade with 40-50% more of our capital. Then we wait for the Fractals and follow the uptrend.
Remember this is VERY early signs of a trend reversal. It may just be a quick reversal to test 10.000 levels and then back down again. But we are dancing with the flow, taking profit and start shorting.
Summarize
Buy in: 8.400 (if the daily closes in the upper half)
Stop loss: 8.000 (cutting loses - trend is not valid)
I'll update this trade as we go.
Peace out to everyone.
We have some VERY VERY early signs of a trend reversal based on the our daily candle. We look, we follow, we trade, we make money - it's simple. It goes up, it goes down - we follow.
Let me explain the strategy
If the daily closes in the upper half of the bar and our AO is confirming the momentum reversal (tommorow), then we are ready to Long our positions with 10-15% of our marked capital for this trade.
I'm placing my Long trade (buy in) just above the top of our daily candle at the level of 8.400 with 15% of my marked capital. Then i place my Sell Stop (stop loss) at 8.000 levels and cutting loses if the first sign of reversal doesn't stand up. We are not HODLERS, we are cutting loses and gaining profit - thats trading.
We want the momentum to track a long before we go deeper in this Long trade with 40-50% more of our capital. Then we wait for the Fractals and follow the uptrend.
Remember this is VERY early signs of a trend reversal. It may just be a quick reversal to test 10.000 levels and then back down again. But we are dancing with the flow, taking profit and start shorting.
Summarize
Buy in: 8.400 (if the daily closes in the upper half)
Stop loss: 8.000 (cutting loses - trend is not valid)
I'll update this trade as we go.
Peace out to everyone.
Comment:
We hit our by order at 8400. All we have to do now is to watch the AO. It have to reverse in the next couple of days to confirm the trade reversal - then we are ready for a new buy in.
Our stop loss is active at 8.000 for now. We move our stop loss as we go.
I'll will keep posting updates about our buy in and stop loss levels.
Our stop loss is active at 8.000 for now. We move our stop loss as we go.
I'll will keep posting updates about our buy in and stop loss levels.
Comment:
Stop loss hit. We are short now with about 30% (double of our long position)
Trade closed manually
We wait with patients and then we buy when the market provide the right signals.