Trading is about mastering ONE setup
And I'm giving you the one that turned me into a profitable trader FREE...
Take 2 mins out of your day to learn my EXACT setup:π§΅
And I'm giving you the one that turned me into a profitable trader FREE...
Take 2 mins out of your day to learn my EXACT setup:π§΅
This setup is involves a few elements but is mainly comprised of the idea "change in trend"
I'm simply waiting for confirmation of a trend change and then taking advantage of it
Here's the breakdown:
I'm simply waiting for confirmation of a trend change and then taking advantage of it
Here's the breakdown:
First, I need to identify trend.
This step is simple. Is price making higher highs? Higher lows?
This step is simple. Is price making higher highs? Higher lows?
Once trend is established, I wait to see a CHANGE IN TREND
For example, in a downtrend I may see a higher high form.
That's the first sign of a change in trend
For example, in a downtrend I may see a higher high form.
That's the first sign of a change in trend
Price was able to break the structure of the previous higher low.
Indicating the first sign of a trend change.
If you don't know how to identify a break of structure, read this (after finishing this thread)π
Indicating the first sign of a trend change.
If you don't know how to identify a break of structure, read this (after finishing this thread)π
Now that price has seen a higher high, we can assume trend is going to change to the upside
Meaning we should see a lower high
That's when we want to look to buy
But where do I buy?β¬οΈ
Meaning we should see a lower high
That's when we want to look to buy
But where do I buy?β¬οΈ
There are 2 things I look for when determining where to buy:
1. Retracement
2. Supply/Demand
1. Retracement
2. Supply/Demand
For retracements, I simply draw a fib from the low to the higher high that was formed
All I want to be buying is anywhere below the 50% retracement
Anything above, I don't buy
All I want to be buying is anywhere below the 50% retracement
Anything above, I don't buy
Then, I'll look for a supply/demand zone to enter (that's below the 50% retrace)
This helps determine my stop loss and entry
If you don't know supply/demand, read here (after this thread of course)
This helps determine my stop loss and entry
If you don't know supply/demand, read here (after this thread of course)
After entering, I'll put in my stop and use the higher high as my first target
That's about it!
There's a few other elements/concepts that I look at in my full strategy...
but that's for another threadπ
There's a few other elements/concepts that I look at in my full strategy...
but that's for another threadπ
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Follow me @FT__Trading to learn about trading strategies and psychology!
Follow me @FT__Trading to learn about trading strategies and psychology!
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