Rattibha

MapleStax Trades

8 Tweets 18 reads Jun 04, 2022

🧵My 5m/10m Doji bar Strategy🧵
(A THREAD)
This is how I use my Doji bar strat to gauge price action during moments of indecision. High win % rate.
#ChartHashira

1. For myself, I identify stages intraday into 2 phases: consolidation and trend.
When coming off of a large trend, we expect momentum to slow as traders need to lock in profit and decide if they will continue the rally. The opposing traders have an opportunity to reverse.

2. At these points of consolidation (indecision/balance) you will come across the scenario of a Doji bar on the 5 or 10 minute chart. When this occurs, I draw a zone on the body to identify where buyers and sellers are fighting over.
Trading version tug of war.

3. I also draw a channel of the highs and lows of the current consolidation phase. The main goal here for bear or bulls is to close a candle above or below the body zone we have drawn out. This shows one side stopping out/covering. Creating an imbalance which rallies or reverses.

4. When taking entries on the Doji Strat you want to short the upper wicks and go long on the lower wicks using the channel we labeled as your defined risk for stopping out. You can also straddle/strangle this strategy, although I take into context the information from the chart.

5. For the visual learners:
We see the balance created by the first Doji coming off of momentum. Red channel is Doji body line in the sand. Defined SL for shorts and longs created by blue channel. When the first candle closes into lower wick, the selloff continues.
#ChartHashira

6. Always take into account the other confirmations the chart is telling you. Like where your EMAs and VWAP are. Check your pivot points and VIX/Indexes.

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