How to look for Shorts in my Trading System (GOOG Double Top)
Hello guys, welcome to my first Trade Idea published here on Trading View!
Right of the bat I apologize for if my english was hard to comprehend at any time, feel free to leave questions down in the comments if there's something you haven't understood.
As to the idea, it is based on my very simple trading system, in which I do as follows:
Then I just look for a previous high for my stoploss, and enter the trade!
It might take a while to get used to, but I find this system very reliable and simple. As it doesn't generate a huge amount of trades, it also helps me keep my risk managent and trading psychology under control.
Hope you liked it, and if you did make sure to like, comment, and check out my RSI Supply / Demand Zones indicator!
Right of the bat I apologize for if my english was hard to comprehend at any time, feel free to leave questions down in the comments if there's something you haven't understood.
As to the idea, it is based on my very simple trading system, in which I do as follows:
- Look for congruences between the EMAs, my RSI Zones indicator and my personal technical analysis of the chart, to find important supports and resistances.
- Look for Price Action patterns near the support or resistance, such as Double Tops or Bottoms, Pullbacks after the breakout of a pattern, or Inside and Outside Bars.
- Try to find congruent fibonacci measurements that point to the same price target. (In the video I give examples of how to draw targets from pivots and flags, in that order)
Then I just look for a previous high for my stoploss, and enter the trade!
It might take a while to get used to, but I find this system very reliable and simple. As it doesn't generate a huge amount of trades, it also helps me keep my risk managent and trading psychology under control.
Hope you liked it, and if you did make sure to like, comment, and check out my RSI Supply / Demand Zones indicator!