So I picked up a new confirmation tool through my research that I will be using forward on my strategy, the first step was to identify my trend, which was a newly developed downward move, plotted my boundary lines for a forming triangle, added a moving average of "60" and added my normal support lines since it's a downtrend. I then searched and picked up a lightning bolt move, basically, it's a 3 step move, for a downtrend it is: Down, Up and Down, which in my graph is located with the red lines and marked (1,2 & 3). Using my support lines, confirmed with my moving average that is in-line with my triangle boundary line means the support line (which is now used as resistance) is a double strong and to seal it off with the lightning bolt as my last confirmation all lead to a SHORT trade.
Let me know what you think of this move, looks quite interesting as the move looks to have been proven in the past analysis.
Let me know what you think of this move, looks quite interesting as the move looks to have been proven in the past analysis.
Trade active
Trade closed: target reached