Above & Below Pattern ๐งต
๐ Effective TA Pattern for beginners ๐
Easily spotted pattern formation for anyone โ๏ธ
Time-proven โ๏ธ
Quick to apply โ๏ธ
Well defined levels โ๏ธ
Great risk to reward โ๏ธ
1/
๐ Effective TA Pattern for beginners ๐
Easily spotted pattern formation for anyone โ๏ธ
Time-proven โ๏ธ
Quick to apply โ๏ธ
Well defined levels โ๏ธ
Great risk to reward โ๏ธ
1/
2/ Live example - Long
3/ Live example - Short
4/ Idea behind:
- Price creates support from which it goes on to create a Higher High / Lower Low
- Traders get lured into the position as we can see a clear trend
- FOMO kicks in
- Price creates support from which it goes on to create a Higher High / Lower Low
- Traders get lured into the position as we can see a clear trend
- FOMO kicks in
5/
- Once new liquidity from breakout traders is absorbed, the price goes on to retest the previous support
- This is where breakout traders have their Stop Losses
- Trailing Stop Losses as well
- Willing selling liquidity is absorbed
- Now we wait for a reclaim and retest
- Once new liquidity from breakout traders is absorbed, the price goes on to retest the previous support
- This is where breakout traders have their Stop Losses
- Trailing Stop Losses as well
- Willing selling liquidity is absorbed
- Now we wait for a reclaim and retest
6/
- Once reclaim has been successful we calculate our position size
- Set orders at previous support
- Once reclaim has been successful we calculate our position size
- Set orders at previous support
7/
- Profit
- Profit
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