so based on my analysis I see that the market just finished with wave 2 as a correction and there is a probability of heading up to the upside trading wave 3 of wave 3.
so for any potential trade, imma be waiting for the confluences
on the 4h ;
I'm always looking for loss of momentum on that specific fib S/R zone with price action reacting to that level ( always looking for shrinking candles, long wick rejection, Doji, and engulfing candles)
I do look for divergence on the RSI showing the luck of bears and an indication of the power of the bulls
and a spike to the upside signaling the strength of the bulls.
1h : my trend/structure confluence
imma be looking for HH/HL after the break of the HH that's my entry zone
i scale down to the 15m :
looking for ema's crossover
RM:
stops; bellow big structure (the end of wave2) safe
bellow previous structure HL (aggressive)
targets; depends, you can use the previous S/R zone
but mine is 1.618 fib matched with an S/R level
PSYCHOLOGY;
always think of probabilities, manage risk, follow ur trading plan.
so for any potential trade, imma be waiting for the confluences
on the 4h ;
I'm always looking for loss of momentum on that specific fib S/R zone with price action reacting to that level ( always looking for shrinking candles, long wick rejection, Doji, and engulfing candles)
I do look for divergence on the RSI showing the luck of bears and an indication of the power of the bulls
and a spike to the upside signaling the strength of the bulls.
1h : my trend/structure confluence
imma be looking for HH/HL after the break of the HH that's my entry zone
i scale down to the 15m :
looking for ema's crossover
RM:
stops; bellow big structure (the end of wave2) safe
bellow previous structure HL (aggressive)
targets; depends, you can use the previous S/R zone
but mine is 1.618 fib matched with an S/R level
PSYCHOLOGY;
always think of probabilities, manage risk, follow ur trading plan.
Trade active
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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.