this is a simple trading setup. It all starts from higher timeframe, specifically daily, where we have a downtrend and a retest of the broken support that could now turn into resistance (yellow box). Given that, we all know that this is a key place to look for trading opportunities because it could yield great results with the help of the master trend. Therefore, i've gone down on lower timeframes and seeked for a nice setup. Here on the hourly chart, you can see there's a double top right at a Bat completion point, with RSI divergence. This is enough for me to enter the market short, with stops above the highs, and targets as shown.
If you have any idea/question, feel free to comment beneath. Otherwise, see you in the next chart!
トレード稼働中
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トレード終了: 利益確定目標に到達
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First target hit!
トレード稼働中
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After being stopped at breakeven for my second position, i'm re-entering short (2618 strategy):
Can you explain the 2618 trade? I thought it was 2 double tops with a .618 retracement. But your 2618 goes way above the .618 retracement. Can help me understand? Thanks!
Roker1
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@johnthegreat1233, as you can see here below, price has formed two tops and a break and close below the neckline, giving us the 2618 strategy setup (that basically consist on selling the 618 retracement of the leg that break the neckline)