1. Yesterday's price breakout the resistance and inside the range. 2. Currently trading in the range until clear breakout to either side. 3. EMA50 @ 15min is flat indicate ranging market. I'm biased towards bullish because at 15min chart, EMA14 is above EMA50
1. False breakout when price opens below previous day support and immediately close back inside the range without rejection. 2. Entry when price close inside the zone. 3. Or entry during pullback rejection. 4. Usually fake breakouts produce large movements. the daily range for FCPO almost 100~130 ticks.
There is 3 type of price reaction towards SnR i) Rejection ii) Breakout iii) False breakout How to trade (i) rejection @ M15? 1. Price close with reversal CS - long wick 2. M5 has engulfed at least 60% 3. Set Limit order near the neck of close M15 CS. How to trade (ii) breakout @ M15? 1. Price close outside the SnR 2. 2nd CS also close outside SnR 3....
1. Yesterday's price was able to break previous support. 2. Currently price will trade in the range. Testing previous SbR. 3. Rising wedge pattern indicates bearish continuation.
After the breakout, price pullback for entry. Simple SnR rule. For entry - wait for 1Day CS close bull, entry on the next day CS. For exit stoploss - close position if price closes below the bull candle. Target profit - opening price CS @ fibo 1.618
Trend bias to downtrend. Consolidation phase.. 1. Yesterday's price failed to break the support. 2. Today price failed to break resistance. 3. 15min rejection + 5min CS confirmation false breakout. Trade in the range..
15min chart price break previous day low indicates a downtrend. New day price is open inside the range.
Price downtrend continuation when new day price open inside the previous trading range. Valid breakout = trend continuation Therefore, we use 1min TF to look for entry. 1. Break market structure. 2. EMA 14,50,200 trend. 3. Stochastic 4. Reverse-retest 5. Stoploss 6. TP False breakout = reversal/rejection Use 15min to find entry 1. Entry after 2nd CS close back...
1. Retest RbS 2. Stoch oversold 3. Retest EMA50 4.Fibo retracement 0.5~0.618. 5. Making series of HH and HL for an uptrend. 1st TP 20% 2nd TP 40% Risk 20%
When the price is near the SnR it is where get it will get tricky...either the price want to continue the trend or reverse? The false breakout strategy : 1. Timeframe 15min 2. Identify strong valid SnR 3. Draw the zone by pick the wick and the neck. 4. If price breakout and 2nd CS close inside the zone, it is a false breakout and entry position after 2nd CS...
1. Uptrend market structure still valid 2. Stoch oversold 3. Healthy trend. Price test EMA50 4. Fibo retracement 31.8 Possible re-accumulation before price can break above Wave 3 resistance. 12 ~25% market range.
Yesterday's price was still in the range. Testing support multiple times. 1.Today price open break yesterday resistance. 2.All EMA uptrend 3.Stoch oversold However, the Stop loss is too large to take. Wait for another setup with a good risk and reward ratio.
New contract.. Price seems like trade in the range. Approaching Gann box cycle level 1.0. Lets see if price able to break above resistance.
1. The major trend market structure is an uptrend. 2. Early morning session continues from previous day give us short term trade for downtrend move. 3. Once the downtrend market structure is broken, prepare to find the long entry opportunity 4. There is 2 type of entry. Risky and safe entry. 5. Risky entry when EMA14 + EMA50 still below EMA200 while price...
Break previous Lower High as significant resistance. The next resistance is at RM7.00 For the entry, the position goes to the lower timeframe looking for the retracement.
Time cycle and Gann box to predict the market movement hence easy to make the decision. We use 15min TF as our major time frame. Time cycle draws by choosing double top/bottom. Gann Box draw align with the time cycle for each level. For current market trend, its follow the current cycle time. It might be changing in the future.
Intraday trading rules : 1. Price near/cross EMA200 2. Market structure 3. EMA14, EMA50,EMA200 trend 4. Stochastic 5. Reverse-retest 6. Entry 7. Exit
Setup for Intraday : 1. Price near/ cross EMA200 2. Understand market structure either uptrend/downtrend/consolidation to be able to determine the SnR for the breakout. 3. Market trending confirmation by EMA14, EMA50, and EMA200. 4. Wait for a pullback when stochastic oversold/bought. 5. Make sure price reverse at least 3 candlesticks. 6. Entry when price pullback...