This is not a trading Idea as the reasons for entry have already been and gone.
Text Book 2618 bullish trade
1. Double Bottom against major structure support/resistance
2. RSI Divergence
3. Higher High established
4. Retracement to the 61.8 Fibonacci level
How to trade
1. Stop loss below double bottom (according to your rules) must have 1:1 Risk to reward minimum
2. Target 1 Level with higher high
3. Target 2 next level of resistance - if too far then 1.27 fib extension
4. Take target 1 (if hit) and trail stops for target 2
5. Keep riding the wave for as long as you feel comfortable
Hope this helps anyone who is here trying to learn
Please leave a "Like" if you please
Good Luck
Steve
Text Book 2618 bullish trade
1. Double Bottom against major structure support/resistance
2. RSI Divergence
3. Higher High established
4. Retracement to the 61.8 Fibonacci level
How to trade
1. Stop loss below double bottom (according to your rules) must have 1:1 Risk to reward minimum
2. Target 1 Level with higher high
3. Target 2 next level of resistance - if too far then 1.27 fib extension
4. Take target 1 (if hit) and trail stops for target 2
5. Keep riding the wave for as long as you feel comfortable
Hope this helps anyone who is here trying to learn
Please leave a "Like" if you please
Good Luck
Steve
Note
You can watch thw creation of this chart on the link belowyoutu.be/SuYnCHeZzSc
Trade fermée: cible de profit atteinte
Target 1 hitTrade fermée: ordre d’arrêt atteint
target 2 Stop loss hitTypical - call something text book and it will bite you lol
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.