[USDBRL 6% LONG] Reversal + Price Prediction w/ Spectro™ M
Updated
This trading strategy is using Spectro™ M
The blue background means a strong reversal zone. That's our first confirmation.
Now we see the Specter Clouds appearing no only telling us that this is too oversold but also it predicts the organic price, so it predicts possible future prices.
I like simple trading, it's a clear uptrend, Brazil is a damn mess right now, trust me I know, I was raised there before moving to the USA.
Plus it's an ascending triangle and the price is close to a support!
There are no Spectro™ M signals or alerts, but hey life isn't all about automation, right?
Entries anywhere near 3.72 and stop-losses anywhere close to the ascending triangle support line.
Profits go from 0.8% all the way up to 6% based on your strategies risk tolerance and exit rules.
Specter Cloud targets are: 3.752, 3.779 and 3.824
Ascending Triangle Target at ATH: 3.93
ATH close to 3.9666(good omen there)
Liked it? Give it a shot at, it's really affordable - you wouldn't believe if I told you: hypester.org/spectro-indicator/
The blue background means a strong reversal zone. That's our first confirmation.
Now we see the Specter Clouds appearing no only telling us that this is too oversold but also it predicts the organic price, so it predicts possible future prices.
I like simple trading, it's a clear uptrend, Brazil is a damn mess right now, trust me I know, I was raised there before moving to the USA.
Plus it's an ascending triangle and the price is close to a support!
There are no Spectro™ M signals or alerts, but hey life isn't all about automation, right?
Entries anywhere near 3.72 and stop-losses anywhere close to the ascending triangle support line.
Profits go from 0.8% all the way up to 6% based on your strategies risk tolerance and exit rules.
Specter Cloud targets are: 3.752, 3.779 and 3.824
Ascending Triangle Target at ATH: 3.93
ATH close to 3.9666(good omen there)
Liked it? Give it a shot at, it's really affordable - you wouldn't believe if I told you: hypester.org/spectro-indicator/
Note
First target reached, since i'm on profit I already raised my SL and now I'm waiting for the second target or SL.Note
we reached the second target, could've ended at a decent profit but I maintained my position and SL since Im confident in this position and also I'm already on profit :)Trade closed: target reached
Target 3 reached solid trade.Note
If it breaches target 3 it will consolidate a double bottom I might enter again for the target 4(ceil)Note
It breached I'm in and already raised my SL above entry, I'm on profit again.Trade closed: target reached
SOLD at 3.9 (+4.5% after commissions from entry)
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.