PrimedGroup

How to trade the Bullish Continuation Pattern

Education
CURRENCYCOM:DE30   DAX 30
Hey hey all! 

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 Commodities (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 bullish continuation pattern is exactly what is says, a bullish continuation of price action, and it is not very hard to find.

There are two ways you can trade the bullish continuation,

1. Pre-breakout, which would mean at a support level 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 Bullish 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 bullish , 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 EMA 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!

Comment: We took partial profits out of the markets. About 26k USD.
Trade closed: target reached: Both TP's were reached on this trade!
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