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Step #1: Wait for the MACD lines to develop a higher high followed by a lower high swing point.
This is an unorthodox approach to technical analysis. But, we at Trading Strategy Guides.com are different. We don’t mind doing uncomfortable things if that’s what it takes to succeed in this business.
The first rule of thumb to recognize a swing high on the MACD...
The market is working a range pattern the majority
of the time which is good news if you know what to look for.
Range patterns are full of information that will help you anticipate what comes next, so you can trade. Here are 3 examples that will make you chart smarter!
The first chart is my personal favorite range pattern. When you see a well established range,...
Step #1: Identify the Phase of the Market. The Double Top reversal needs an uptrend.
Just because you can spot the double top reversal it doesn’t mean you have to jump in willy-nilly. Remember, we need the right context and everything needs to line up for a good double top reversal.
So, the first step is to identify the phase or the market condition. At any given...
Step #1 Divide your 5-Minute Chart by Trading Sessions
Since we’re using a strategy only for day trading Ripple we need to make use of intraday charts. The ideal time frame to implement our Ripple strategy is the 5-minute chart. Also read the simple way of trading multiple time frames in forex.
The 15-minute chart will give us a better view of the overall price...
Pair is in a range
Price failed a bullish breakout attempt
Watch Macd for confirmation of direction
Sell Stop @ 1.1327
1st Sell Take Profit @ 1.1295
2nd Sell Take profit @ 1.1255
Find your SL
Price in a range
Create fib levels at Swing Low and Swing high
23.6% fib has created a resistance level - several failed breakout attempts
Price has created mini lower lows and lower high
Decision point at sup level and trendline for price direction
Short trade setup
1st Sell Stop @ 1.3225
2nd Sell Stop @ 1.3195
Sell Take Profit @ 78.6 fib level around...
Price is in a descending triangle chart pattern
Bottom support triangle trendline @ 367.10
Trade 1 - EFC Indicator finds Entry and TP levels
Short Entry alert @ 372.28
EFC Take Profit level @ 300
Trade 2 - Breakout of Bottom Triangle Trendline @ 367.10
Enter with 1h breakout candle close
Ranges contain elements of certainty which are rare in a speculative industry.
With previously established highs and lows, you can anticipate where the market is likely to hold, change direction or stop all together.
5 interesting facts about range patterns when charting price action.
1 - The range pattern is good for traders who are terrible at cutting their...
Price is in an ascending triangle chart pattern
There were 4 failed Bullish breakout attempts of the triangle top
Price is falling to triangle bottom trendline
1H Short trade
Sell Stop @ 76.20
Sell TP at bottom triangle trendline
There will be a decision point at the bottom triangle trendline
Price will rise up to the top triangle trendline
My definition of a trend is when price is above both ma's for 30+ bars
When price fails to make a newer high within 20 bars I expect price to return to the ma's
As price faded and dropped below both ma's I was watching for Bearish patterns
As price created a break-hook-go pattern I entered short at the break of the beginning of pullback
Pair attempted a bullish triangle breakout but failed
Price broke out of bottom triangle trendline
Price re-tested top resistance level for a sell limit entry
Sell Take Profit is a previous support level @ 1.8575
SL above resistance level