CONFLUENCE TRADING | YOUR KEY TO ACCURATE ENTRIES 🥇
If you are struggling with the identification of accurate trading entries,
you definitely should try confluence zones.
Note: there are hundreds of variations of confluence elements.
In this example, we will discuss trend lines and fibonnachi.
❗️To identify a confluence zone, the price must follow a trend line
(it should match higher lows if the market is bullish;
it should match lower highs if the market is bearish).
Once the trend line is confirmed by at least two touches and consequent reactions,
you can look for a confluence zone.
1️⃣Project a trend line and identify the next POTENTIAL touchpoint of the market with a trend line.
2️⃣Take the last impulse in the direction of the trend.
Draw a fib retracement based on it
(swing low to swing high in case if the market is bullish,
swing high to swing low in case if the market is bearish).
3️⃣Take the previous impulse (it must be in the same direction as the initial one).
Draw a fib retracement based on it.
4️⃣Look for a match of retracement levels of the last two impulses and a projected trend line.
In case if two retracement fib.levels & trend line match, you found a confluence point.
5️⃣ Apply it as a safe entry point.
You will get a perfect trend following opportunity.
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