Trendfollowing trade with double bottom with divergance as entry
The undrlying, Daily trend is bullish. We are in a complex pullback, with some consolidation in the lower timeframes.
In the 4h we have a doublebottom with a 2618 I believe.
In the 1h we have a double bottom with divergence.
We are also in a bullish trend in the 1h.
I am not trading structure trades as of yet, I am training my eye, and my brain.
I will backtest some strategies ones I know exactly what to look for.
I am involved in this one in a demo account, I think its good to get as much experience as possible to handle orders, alarms, manage orders etc as possible, both in my live account and in demo.
I got involved with the 2x-bottom with divergence as an entry technique, and will follow the trend to three major levels.
Moving my stops to break even if we hit target 1.
Stops goes for half the distance to target 1.
Please do comment since I am sooo learning this stuff, I like to hear what you have to say about my thinking.
Thanks - Johan
In the 4h we have a doublebottom with a 2618 I believe.
In the 1h we have a double bottom with divergence.
We are also in a bullish trend in the 1h.
I am not trading structure trades as of yet, I am training my eye, and my brain.
I will backtest some strategies ones I know exactly what to look for.
I am involved in this one in a demo account, I think its good to get as much experience as possible to handle orders, alarms, manage orders etc as possible, both in my live account and in demo.
I got involved with the 2x-bottom with divergence as an entry technique, and will follow the trend to three major levels.
Moving my stops to break even if we hit target 1.
Stops goes for half the distance to target 1.
Please do comment since I am sooo learning this stuff, I like to hear what you have to say about my thinking.
Thanks - Johan
Comment:
The 2x-bottom in the 1h is invalid, but there is still a 2618 in 4h as an enrty.
Trade closed: target reached:
Target 1 hit, stops for the remainder moved to break even (had it been a live trade :))
Trade closed: target reached:
target 1 hit, stopped out for break even for the remainder....
