A thread ๐งต on how i find A+ setups to trade!
I've taken 87 trades in January and 74.71% of them have been winners. They were all based off this simple method I'm going to show and what I consider to be A+ setups.
Let's check it out! ๐ $spy $qqq $aapl
I've taken 87 trades in January and 74.71% of them have been winners. They were all based off this simple method I'm going to show and what I consider to be A+ setups.
Let's check it out! ๐ $spy $qqq $aapl
The first thing I need to find a setup is a couple of support and resistance (or supply & demand) areas to watch.
This is important because it will help you to be on the right side of the momentum. My basic rule is
Break resistance = Buy the dips
Break support = Short the pops
This is important because it will help you to be on the right side of the momentum. My basic rule is
Break resistance = Buy the dips
Break support = Short the pops
This first example is from Monday.
This is what my typical plan looks like every morning. I have resistance levels I'm watching to break, If they break I'm looking to go long on the dips
I also have support levels I'm watching, If they break I'm looking to go short on the pops.
This is what my typical plan looks like every morning. I have resistance levels I'm watching to break, If they break I'm looking to go long on the dips
I also have support levels I'm watching, If they break I'm looking to go short on the pops.
When the market opens - I wait to see the reaction to one of the levels or zones on my chart. This gives me an idea of which way I want to play
In this case, We broke above resistance. So I wait for my pullback opportunity to go long. I use my 2 minute strategy for this ๐
In this case, We broke above resistance. So I wait for my pullback opportunity to go long. I use my 2 minute strategy for this ๐
This next example is on $aapl
I have levels and zones I'm watching to break or reject. If we break above resistance, I'm looking to go long of the dips using my 2 minute strategy.
If we break below support, i'm using the same strategy to short the pops ๐
I have levels and zones I'm watching to break or reject. If we break above resistance, I'm looking to go long of the dips using my 2 minute strategy.
If we break below support, i'm using the same strategy to short the pops ๐
Here's a close up on that $aapl trade after the break of resistance.
The break tells me the best R/R is to now go long on the dips. My ema strategy gives me an idea of where enter the trade on those dips ๐
The break tells me the best R/R is to now go long on the dips. My ema strategy gives me an idea of where enter the trade on those dips ๐
When a resistance levels breaks, the moves up are big and the dips are quickly bought up. This is why I look to go long and not short the pops.
When a support levels breaks, the moves down are big and the pops are quickly sold off. This is why I look to go short on the pops ๐
When a support levels breaks, the moves down are big and the pops are quickly sold off. This is why I look to go short on the pops ๐
When a level/zone breaks, there are many way to play it. Candlestick patterns, Fib levels, Ema pullbacks.....All can be great tools, you just have to find one you trust and are consistent with.
I use emas because of the proven results of my backtesting and trading off them.
I use emas because of the proven results of my backtesting and trading off them.
Even with a risk to reward ratio of 1/1 this setup is profitable for me. This is why respecting stops and keeping losses small is so important.
We can also see from the examples above how far some of these plays run to increase that profit ratio even further.
We can also see from the examples above how far some of these plays run to increase that profit ratio even further.
Thank you for taking the time and reading my thread! If you find it helpful please hit the โค๏ธ & โป๏ธ to share it with others. Let's keep banking ๐ค $spy $qqq
Links below to the room and additional threads ๐
Links below to the room and additional threads ๐
Here is a link to a thread detailing these setups a little further, including finding the S&D Zones and using the emas. Check it out ๐
Here's a link to the discord room where I trade everyday ๐
patreon.com
Here's a link to the discord room where I trade everyday ๐
patreon.com
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