AUDUSDI think price might form a head and shoulder, and i am waiting for price to pass the 0.75800 resistance and i will sell to the next resistance line.
Tradeyourplan
USDCADI'm expecting price to hit at the indicated area soon and reverse. This is an area where two strong trend lines meet.
Reversal Setup?The Rules of this Trading Strategy Are:
Step One: Find the currency pair that is showing a high the last 50 candlesticks . (OR low depending on the trade)
Step Two: When we find 50 candle low, it needs to be coupled with RSI reading around 20 or lower. (If it’s a high it needs to be coupled with the RSI reading 80 or higher.)
Step Three: Wait for a second price (low candle) to close after the first one that we already identified.
Step Four: Wait for the price to head in the direction of the trade and wait for a candle to close above the first candle that you identified that was previous 50 candle low.
Step Five: Place Stop Loss-This strategy follows a 1 risk to 3 reward ratio entry/exit points.
Yesterday we had this idea but it bounced off of the trend line. We modified our entry for another potential sell area.
potential sell @1.88391
TP @ 1.86869
SL @ 1.88876
Trade Plan Using Ichmoku and Fibs retraceThis isn't a trade system that I've used, but one that I'm planning to experiment with after getting decent results with limited back-testing on only Bitcoin (thus, I'd probably only use it on Bitcoin, for the moment).
Pretty simple rules, but it seems to be an effective profit-grabber with decent success rate.
What do you think?
