Two scenarios for EXPR - one short / one long.
Scenario 1 - Short (Blue arrow)
Is based on a engulf and reclaim of the blue line (Weekly resistance level).
Entry: Retest of the blue line after reclaim
Target: Next Support level and a former Resistance level
Scenario 2 - Long (Orange arrow)
Break of the Resistance level and generating a Higher Swing after
Entry: Retest of the green line
Target: Next big Resistance level
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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 ready and i wait)
- For my entries i often use Strategies on smaller time frames and to increase my chances and profitability
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
Scenario 1 - Short (Blue arrow)
Is based on a engulf and reclaim of the blue line (Weekly resistance level).
Entry: Retest of the blue line after reclaim
Target: Next Support level and a former Resistance level
Scenario 2 - Long (Orange arrow)
Break of the Resistance level and generating a Higher Swing after
Entry: Retest of the green line
Target: Next big Resistance level
////////////
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 ready and i wait)
- For my entries i often use Strategies on smaller time frames and to increase my chances and profitability
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:
I realized i made a mistake. See the picture below how the orange arrow Setup should look like.
Trade active:
Blue arrow - Scenario