1. An asymmetric bullish/bearish is drawn using ascending and descending curved with a minimum of three price action touche points per line. The direction is determined by the previous trend.
2. The angle tool is applied from the earliest two trend touch points, beginning at the earliest touch point.
3. A trend-based triangle is drawn starting from the earliest trend touch point and ending at the earliest touch point of the opposite .
4. Based on the degree, of the earlier defined angle, the appropriate (and secret) levels are selected for the ; two levels for stop-loss and two levels for take-profit. The closest stop-loss level to the current price level is the top priority stop-loss. Though the secondary stop-loss level is often chosen for some markets such as FX and some equities in order to account for seldom unexpected resistance breaks. The greater target level is the top priority, and where majority of the shares are sold, though some may choose to close part of the position at the first target level or set it to be the stop-loss once price exceeds it. Entries should be laddered in around the levels closest of the yellow line.
This trading strategy can be applied to any market and time frame, and positions most often garner the greatest risk-to-reward ratio with the highest success rate. What more can you ask for? I will only be posting my unique trading strategy until EOY. I work solely with price action to identify and apply unique trend-based levels for SL and TP levels. Reach out to me if you have any questions.
I told you there would be massive outflow since today is a Friday before a holiday break in a bear market. Mutual funds/401k/margin calls all cashing out before the break. Not sure what happens Monday (half day, probably light trading), but I expect more outflow next Friday (though probably not as bad) and New Year's Eve. New Year's Eve should be interesting since this will be the biggest money losing year since 2008. Will people close out their loses? We'll see.
Hope you made some serious dough on all your ideas. You'd easily have doubled your money on any NFLX puts today.