Welcome back everyone to another guide, today we will speed run "Trading wedges" in a quick 5 step guide. Be sure to like, follow and join the community!
1) Identify the wedges:
- Falling Wedge
- Rising Wedge
- Symmetrical Wedge (Triangle)
2) Identify Breakout Direction:
- Falling Wedge > Bullish Breakout Expected
- Rising Wedge > Bearish Breakout Expected
- Symmetrical Wedge (Triangle) > Consolidation Expected
Breakout should show a candle closing outside the wedge.
3) Wait for retest to take place on previous key level or resistance (which would now be support)
If the retest holds with a strong rejection candle or consolidation - begin to long.
4) Enter Trade:
Enter on successful retest confirmation
SL for longs should be below previous low's
SL for shorts should be above previous highs.
5) TP levels:
TP 1) First high target
TP 2) Second high target
TP 3) Third high target.
RESULTS:
Price has soared up high and hit all three Take profits.
For trader who are wanting more profits you can potentially enable TP trailing afterwards - however I don't recommend this as you need to factor in your emotions of "GREED"
Thank you all so much for reading! Hopefully this is a useful guide in the future or present! If you would like me to make any simplified guides, let me know in the comments below or contact me through trading view!
1) Identify the wedges:
- Falling Wedge
- Rising Wedge
- Symmetrical Wedge (Triangle)
2) Identify Breakout Direction:
- Falling Wedge > Bullish Breakout Expected
- Rising Wedge > Bearish Breakout Expected
- Symmetrical Wedge (Triangle) > Consolidation Expected
Breakout should show a candle closing outside the wedge.
3) Wait for retest to take place on previous key level or resistance (which would now be support)
If the retest holds with a strong rejection candle or consolidation - begin to long.
4) Enter Trade:
Enter on successful retest confirmation
SL for longs should be below previous low's
SL for shorts should be above previous highs.
5) TP levels:
TP 1) First high target
TP 2) Second high target
TP 3) Third high target.
RESULTS:
Price has soared up high and hit all three Take profits.
For trader who are wanting more profits you can potentially enable TP trailing afterwards - however I don't recommend this as you need to factor in your emotions of "GREED"
Thank you all so much for reading! Hopefully this is a useful guide in the future or present! If you would like me to make any simplified guides, let me know in the comments below or contact me through trading view!
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⭐Join our Discord server! 5k+ Members
discord.gg/bvKcQFMgva
⭐Exclusive - SIGN UP
bit.ly/3MiqA8E
⭐Join our MVP Vault-Access TG group
linktr.ee/BennyBag33
discord.gg/bvKcQFMgva
⭐Exclusive - SIGN UP
bit.ly/3MiqA8E
⭐Join our MVP Vault-Access TG group
linktr.ee/BennyBag33
免責事項
これらの情報および投稿は、TradingViewが提供または承認する金融、投資、取引、またはその他の種類の助言もしくは推奨であることを意図したものではなく、またこれらに該当するものでもありません。詳細は利用規約をご覧ください。