I was hardly profitable for 7 long years...
until I found this low-risk strategy! π
This strategy is MY FAVOURITE &
β’ Low risk & High reward
β’ profitable even with 40% win rate
β’ can help one take big positions
β’ can make you πΈ
REVERSALS FROM CONFLUENCE OF SUPPORTSπ§΅...
until I found this low-risk strategy! π
This strategy is MY FAVOURITE &
β’ Low risk & High reward
β’ profitable even with 40% win rate
β’ can help one take big positions
β’ can make you πΈ
REVERSALS FROM CONFLUENCE OF SUPPORTSπ§΅...
1β£ Scanner to use
Use the below scanner & only focus on stocks in the list π
'CCI Daily crossing above -100'
chartink.com
Use the below scanner & only focus on stocks in the list π
'CCI Daily crossing above -100'
chartink.com
2β£ Add these stocks to Trading watchlist to scan
You can do this in 5 mins, literally! Watch the below video how to do itπ
Scan each stock manually with your π
youtube.com
You can do this in 5 mins, literally! Watch the below video how to do itπ
Scan each stock manually with your π
youtube.com
3β£ Stock MUST be near confluence of supports!
What's that? There are two rules
Rule 1:
β’ Price should be reversing from a major horizontal support zone Ex: #GOKEX
This should be visible clearly on weekly/daily charts
What's that? There are two rules
Rule 1:
β’ Price should be reversing from a major horizontal support zone Ex: #GOKEX
This should be visible clearly on weekly/daily charts
4β£ Rule 2:
β’ Price should be reversing from major trendline support
If you also observe
β’ Candles with long lower wicks or
β’ Big green candles - refer chart
then winning probability increasesπ
This reversal from HORIZONTAL & TRENDLINE Support is reversal from confluence!
β’ Price should be reversing from major trendline support
If you also observe
β’ Candles with long lower wicks or
β’ Big green candles - refer chart
then winning probability increasesπ
This reversal from HORIZONTAL & TRENDLINE Support is reversal from confluence!
5β£ Additional rules
β’ There MUST be a decent increase in volumes around the confluence zone
β’ The trendline MUST connect the wicks
β’ Price MUST be in uptrend(higher highs, higher lows) on weekly charts.
β’ There MUST be a decent increase in volumes around the confluence zone
β’ The trendline MUST connect the wicks
β’ Price MUST be in uptrend(higher highs, higher lows) on weekly charts.
6β£ What should be your entry price?
β’ Enter the next day
- above previous day high or
- above the previous big green candle high or
- above previous 2/3 day high
β’ Enter the next day
- above previous day high or
- above the previous big green candle high or
- above previous 2/3 day high
7β£ What should be your stoploss(SL)?
β’ SL should be the trendline reversal point.
In this case the SL would be previous candle low since that was a trendline reversal.
β’ The SL should not be > than 10%. If > 10% ignore the stock & move on. If SL < 6%, it is a must enter.
β’ SL should be the trendline reversal point.
In this case the SL would be previous candle low since that was a trendline reversal.
β’ The SL should not be > than 10%. If > 10% ignore the stock & move on. If SL < 6%, it is a must enter.
8β£ How to pyramid/add on to positions?
β’ Price should consolidate for at least 3 days before adding more
β’ Add above previous swing high - refer to chart
β’ If you're conservative add in the last 30 mins of the day or the next day above previous day high
β’ Price should consolidate for at least 3 days before adding more
β’ Add above previous swing high - refer to chart
β’ If you're conservative add in the last 30 mins of the day or the next day above previous day high
9β£ How to define targets?
β’ Use the Pivot HL indicator in tradingview
β’ Identify previous swing highs and mark your targets
As an alternative,
β’ Book 50% position at 3 times the risk
β’ For the remaining position trail the stop & ride the trend on hourly charts
β’ Use the Pivot HL indicator in tradingview
β’ Identify previous swing highs and mark your targets
As an alternative,
β’ Book 50% position at 3 times the risk
β’ For the remaining position trail the stop & ride the trend on hourly charts
π If you loved this strategy, pleaseπ
1. Retweet the first tweet
2. Follow @dmdsplyinvestor
3. Subscribe to my YouTube channel for more content! youtube.com
1. Retweet the first tweet
2. Follow @dmdsplyinvestor
3. Subscribe to my YouTube channel for more content! youtube.com
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