I went off the grid a little bit to enjoy life and seize the opportunities the COVID situation has presented us all with... the proactive have had the chance, and still do, to create wealth and I can go over many examples in the markets like the sell-off of Stocks, Indices and (and even Crypto) and then the buyback of all of those assets. The strength of the USD and then the weakness of it... the all-time highs in the NASDAQ which came as a no brainer as the world went 90% digital due to the pandemic but there is so much more and I wont be going over it right now... right now all I want to do is share with you a killer trade setup that I took on the DAX on Friday (7.8.2020) yesterday that is earning me right now over 15,000 in active profits.
The Bullish Continuation
The continuation pattern is exactly what is says, a continuation of price action, and it is not very hard to find.
There are two ways you can trade the continuation,
1. Pre-breakout, which would mean at a that lines up with the FIBS I use.
2. The breakout, which is self-explanatory.
In the case, I am about to show you I traded it pre-breakout, but before I go over it... here is a snippet from my comment in my community about the trade:
Now coming back to the Continuation, here is a talking picture for you to further understand how this was traded (and still is being traded).
The first thing is that the recent momentum was , so we have the first checkbox.
The second point is that price is finding support at 61.8%, check here too
Is the middle of the DC is below price action? YES! so check again
On the 1H chart is the 5/20 below price? Yeap! Check!
Ok great... now about the entry, we have 2 options....
Option #1 is entering at the rejection of 61.8% fib (which is taken from the high and the low of the recent move.
Option #2 is wait for the breakout That is.... in this case, I decided to go at 61.8% because I realized the NFP (yesterday, Friday 7.8.2020) would support the DAX , and it did at the get-go, I quickly went into a profit of 11,000, but held on and now I'm close to 16,000 in profit... and here's proof!
If you want to see that this is a live account just find us on Instagram (PrimedTraders) or join our community with as little as 9$ m/m and you'll see everything there...
Questions are very welcome!