we are still in down trend so do not enter LONG before break and test support(previous ressistance of triangle)
countertrend oportunity we hit previous support and bounce up as expected.... lower time frame for setup on long
expect some fall before continuation... we are overbought now.... should aim for for first support/ressistance to go long.... lets wait and see... if it goes bellow it should be consolidation for next few hours....
wait for correction then jump on contionuation trend ....
We are still in kinda down trend.... with nice pullback,mayble little too strong but we didnt even touch previous ressistance(previous start of impulse),so it still "could" be short trade... This two red candles on 1H chart is enough for short enrty...(swing high bearsih eng.candle)... BUT,we have 5 candles closed abowe EMA and that is risky part...we could see...
wait for correction to come near EMA or at previoous support/ressistance.... then enter short at regular entry candle....
we are getting close to that major level of support on daily timeframe.... watch for contination down trend to that level (on lower timeframes)
nice pullback at 0.618 fib and previous support/ressistance... if u didnt enter earlier do not enter now its not good price.....you can wait for possible doubble top to go short...if it happen
dont really trade this patterns in trends.... but i saw continuation trend pull back to 0.618 so it should go down.... Be careful for ur stops ...wait for better price to sell if u want.
continuation trend (D) wait at possible pullback to previous support/ressistance - 0.5 or 0.6 fib lvl for go short
Open two same positions at pull back engulfing or pinbar candle.... first target should be 1:1 RR and second position 1:2 or 1:1.5 .... when u hit ur first target move stop loss from second position to break even and u cant loose from second position yet u can win additional pips..... on this example we hit first target and hit break even on second... so we are in profit!
wait for doublle top SELL wer are still above moving averages
>>>Long >>>entry - engulfing bullish or pinbar(not before that) should come back at that support before hitting up....
15 MIN CHART Pull back must happen here...its overbought and price is too far from ema's so wait for pullback and entry candle to go long.. (pinbar,engulfing....)
Power of 1:2 RR and sticking to strategy this is very small sample of backtest but its even better in longer term... As u can see we got : -1R 12losses (1% of capital per position) -2R 11 Wins (2% of capital per position) So if u have $1000 account it would be $120 in losses and $220 in wins so even if we have more loosers then winners we are in...
for trend trades i see this as end of end trend and up trend forming... wait for 50 ema or trend line to be confirmed then go long
i never done any backtesting on this pair but B.Bands for consolidation is so powerful... Rsi is oversold and B.Band support tested and respected again.... this is Daily chart... do not go long if u not swing trader ....