notes on the chart
Hi Traders, Please find below three basic trading strategy's that can be implemented to any market on a daily basis. I have only given out basic information on the ratio's and Fibonacci's of the three strategy's, should you need anymore in depth information don't hesitate to contact me. 2618 Rules Of Engagement: 1. Double top 2. Break & close below...
Hi Everyone, It's my first tutorial here on tradingview.com based on my last week's trade on usdcad i used the same technique on my last week's trade mentioned in the tutorial.. Good luck & enjoy the tutorial
The double tops formation are trend revesal pattern occurring after a strong bullish trend; the market is going to push the market with strong buy orders which will reach a market price that can't be crossed; it will bounce back to test a neckline then, move up again to test the second top! The second top is therefore characterized by the fact that it will test...
Educational Study: This is an example of how you combine Gartley Pattern and 2618 Trade Together 1 Long the Gartley Entry: 2. Take Profit at TP1 AND TP2 3. Short at 0.618: 0.6790, SL: 0.6903, TP1: 0.6620 TP2: 0.6480 4. Look for RSI Over Bought and Trend Line Retest.
Double Top: The double top is a reversal pattern of an upward trend in a stock's price. The double top marks an uptrend in the process of becoming a downtrend. Sometimes called an "M" formation because of the pattern it creates on the chart, the double top is one of the most frequently seen and common of the patterns. Because they seem to be so easy to identify,...
What is a Double top, and how to trade it?! 1. We should see a V shape between the two tops; 2. Look left and search for previous structure and eventual PRZ (price reversal zones); 3. The Highest High from the retest candle, MUST meet the previous Highest Close ; (it can go above the HH) 4. The retest candle, MUST CLOSE below the previous Highest...
USD/JPY - H1 - 2618 Trade Explained Having had a double top and now approaching a retracement back into the 61.8% Fib level, we can now look for reasons to short the USD. Unlike patterns we can't just place BUY or SELL orders in advanced. Once we have completed the rules of engagement below, we are looking for confluence within a certain area that all...
They say that consolidation is the best time to trade harmonic patterns and this definitely is not a lie. If you trade bat patterns, usually you take profit at the 0.382 and the .618 retracement of the AD move. We have reached that .618 retracement now and it's time to take profits. And immediately we have another setup, the classic 26.18 (or twenty-six...
I've already written my "Trading Recap" blog post for today but I wanted to share something with you guys. For you guys that have been following along with my blog you know that I've been working on an article looking at professional athletes and professional traders. One of my main comparisons is the amount of preparation and review that both do. Just like...
Since some people do not know what a 2618 trade is, and the opportunity is there, I thought I'd make an example for educational purposes. A 2618 trade is probably the safest way to trade a double top or double bottom and although the Risk/Reward ratio is a little less favorable, my preferred way to enter a double top/bottom trade. Basically, you wait for the...
Today I noticed a very interesting setup in BTCE that I thought it was worth mention. As traders we are constantly hunting for 'setup' that we can rely on. I was taught the above mentioned setup may years ago and it still seems as relevant today as it was then. If a double bottom in price occurs and the distance from the breakout-point to the 50% level is more...