-Major down trend
-Fibo 38.1 and resistance zone retest
-50 EMA Retest
-Flag retracement pattern after impulse
ONLY OPEN THE TRADE IF AN ENGULFING BEARISH BAR APPEARS IN THE CONFLUENCE ZONE
-Flag pattern retracement
-Possible 38.1 fibo retest
-Possible support/resistance zone retest
This is a highly risk possible trade considering that we are going against the trend. Even though, if you manage your risk wisely you can trade this potential trade with no problems.
Considering the divergence, the way the price is moving (more like correction than a strong impulse bullinsh move), the current downtrend (daily timeframe) and the channel/support resistance zone, this could be a potential short trade. ONLY TRADE IT IF YOU SEE AN ENGULFING BEARISH BAR then the price test the confluence level.
Big 3 Continuation Strategy found bearish trade 6 hours ago
First thing for the Big Three Trading Strategy: Apply Indicators to Chart
Apply all of the three moving averages to your chart - 20 - 40 - 80 sma
You can make them green, blue, red, pink, etc… The color is just your personal preference.
Again these are 20, 40, 80-period Simple moving averages. These...
Step #1: Identify at least two Darvas boxes that are on top of each other
The first trading rule is to let the market develop at least two Darvas Boxes. Basically, the two Darvas boxes are showing that the market is starting to move in steps to the downside. So at this point, the market also should be making lower highs followed by lower lows, which is the basic...
Pick Date : 03/21/18
Entry : 0.9980
Stop : 0.9960
Target : 0.0180
Income Type : Swing
0.9980 is a newly formed 2H demand zone on zone. Will be doing a set and forget limit order. Price will need to have a strong move into the zone.
0.9960 is 20PIPs right outside of the low for some protection
As we know, BTC is still in a downtrend. Within this downtrend we see a uptrend channel, bitcoin moved up slowly the past two weeks. In my opinion it has to retrace to build some momentum. The yellow ellipse would be a perfect support line. This is around 9700/10000 dollar. If this support line holds it will consolidate around that price. If it breaks downwards...