Looking at 2 scenarios where i plan to enter a Short.
Please be aware those are trades on a LTF (Lower- Time- Frame).
Scenario 1 (Green arrow)
1. Price goes above the 50% Fib level, pref. i would like to see the recent Swing High (red line) taken out
2. Price goes under 50% Fib level
3. Enter on retest
Target: S/R level in confluence with a break in MS on a LTF
S-L: Above recent Swing- High (red line)
Scenario 2 (Blue arrow)
1. Price breaks above 61% Fib level, preferable also above blue level
2. Breaks under it again
3. Enter on retest
Target: Target: Resistance level with confluence of the 50% FIB level
S-L: Above the Swing- High generated at the break higher (yellow line)
Scenario 3 (yellow arrow)
1. Price breaks blue resistance area
2. Price falls under blue resistance area
3. Reclaim of blue Resistance area
4. Buy on retest
Target: Target: Resistance level with confluence of the 50% FIB level
S-L: Swing- Low generated in step 2
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My General rules and approach regarding trading:
- I mark levels that i find interesting and set up requirements what price needs to do at these levels so i feel comfortable to take the trade
- What price does till its reaches my levels doenst matter to me, even if it takes days, weeks or even months or never at all (Alarms are set and thats it)
- For my entries i often use Strategies on smaller time frames and to increase my chances and profitability (Breaks in LTF-MS, HS etc.)
Dont forget:
- Watch your Risk management
- DYOR (Do-Your-Own-Research)
- This information / article is only for educational purporses and not a recommendation to buy or sell. I'm not a Financial Advisor.
Thanks for reading!
trader_se
Please be aware those are trades on a LTF (Lower- Time- Frame).
Scenario 1 (Green arrow)
1. Price goes above the 50% Fib level, pref. i would like to see the recent Swing High (red line) taken out
2. Price goes under 50% Fib level
3. Enter on retest
Target: S/R level in confluence with a break in MS on a LTF
S-L: Above recent Swing- High (red line)
Scenario 2 (Blue arrow)
1. Price breaks above 61% Fib level, preferable also above blue level
2. Breaks under it again
3. Enter on retest
Target: Target: Resistance level with confluence of the 50% FIB level
S-L: Above the Swing- High generated at the break higher (yellow line)
Scenario 3 (yellow arrow)
1. Price breaks blue resistance area
2. Price falls under blue resistance area
3. Reclaim of blue Resistance area
4. Buy on retest
Target: Target: Resistance level with confluence of the 50% FIB level
S-L: Swing- Low generated in step 2
////////////
My General rules and approach regarding trading:
- I mark levels that i find interesting and set up requirements what price needs to do at these levels so i feel comfortable to take the trade
- What price does till its reaches my levels doenst matter to me, even if it takes days, weeks or even months or never at all (Alarms are set and thats it)
- For my entries i often use Strategies on smaller time frames and to increase my chances and profitability (Breaks in LTF-MS, HS etc.)
Dont forget:
- Watch your Risk management
- DYOR (Do-Your-Own-Research)
- This information / article is only for educational purporses and not a recommendation to buy or sell. I'm not a Financial Advisor.
Thanks for reading!
trader_se
Comment:
Bummer i didnt get the chance to enter a Short before it crushed down. If price should manage to go back to the level - will enter if one of the scenarios should develop.