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Strategy description:
I'm considering "bullish" entry (buy, long) when price breaks up and hold above the blue line.
(Targets for "buys" are marked by blue pointed lines)
I'm considering "bearish" entry (sell, short) when price breaks down and hold below the red line.
(Targets for "sells" are marked by red pointed lines)
Either upside or downside scenarios - should get a true breakout with at least 2-3 closed bars on the main time frame as a confirmation
(or a well looking re-test on the lower time frames)
TP1 for more conservative trade.
For TP2 - break and hold of TP1 level is required. Stops at break-even.
For TP3 - break and hold of TP2 level is required. Stops around TP1 level.
And so on following the logical continuation.
Good Luck Traders!
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Strategy description:
I'm considering "bullish" entry (buy, long) when price breaks up and hold above the blue line.
(Targets for "buys" are marked by blue pointed lines)
I'm considering "bearish" entry (sell, short) when price breaks down and hold below the red line.
(Targets for "sells" are marked by red pointed lines)
Either upside or downside scenarios - should get a true breakout with at least 2-3 closed bars on the main time frame as a confirmation
(or a well looking re-test on the lower time frames)
TP1 for more conservative trade.
For TP2 - break and hold of TP1 level is required. Stops at break-even.
For TP3 - break and hold of TP2 level is required. Stops around TP1 level.
And so on following the logical continuation.
Good Luck Traders!
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