Read my first post clearly and in detail to understand the logic
Daily (Wave 5)
1/4H (Wave 3)
As shown in chart
Price moves in fractals from higher to lower tf.
Trading plan:
Before market open, CPI numbers will move everything and IMO:
1) If gaps up, sold to fill the gap
2) If gaps down, bought to fill the gap
BEHAVIOR OF RESISTANCE ZONE - 4600
-Coincidentally, it is a fib level of wave C
-Psychological number of 4600
***resistance zone tends to break after several attempts to test it***
Note:
-Bullish structure establish (inverted H&S )
-I do not believe and use lagging indicators which are derivatives of price such as MACD , RSI etc
RISK MANAGEMENT
The strategy doesn't matter but having a good risk management is very important. Even if you disagree with me, you can also be making money on the short side w proper risk management.
Daily (Wave 5)
1/4H (Wave 3)
As shown in chart
Price moves in fractals from higher to lower tf.
Trading plan:
Before market open, CPI numbers will move everything and IMO:
1) If gaps up, sold to fill the gap
2) If gaps down, bought to fill the gap
BEHAVIOR OF RESISTANCE ZONE - 4600
-Coincidentally, it is a fib level of wave C
-Psychological number of 4600
***resistance zone tends to break after several attempts to test it***
Note:
-Bullish structure establish (inverted H&S )
-I do not believe and use lagging indicators which are derivatives of price such as MACD , RSI etc
RISK MANAGEMENT
The strategy doesn't matter but having a good risk management is very important. Even if you disagree with me, you can also be making money on the short side w proper risk management.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.