2618 Rules Of Engagement: 1. Double top 2. Break & close below neckline / support 3. Sell at 0.618% Fibonacci Retracement
One thing that the analysts in this business will be challenged forever is about hindsight. Even the simplest single EMA system can look outstanding when it comes to the happened candles. While, for a mature system trader, what we really focus on is two questions: 1. "Do the patterns match the definition?" 2. "What exactly is the trade? (at least with an entry...
Im closely following price action on this pair. I found this textbook 2618 trade setup. The 2618 trade is essentially a less aggressive approach at entering the classic double top/bottom pattern. It uses trend continuation type of entry in order to get involved in a counter trend opportunity since before entering, the trader seeks confirmation that the trend has...
Sharing some knowledge on a very popular set up used by many traders - 2618 trade set up. The recent move of DXY is the best example of this set up. 2618 trade is essential a counter trend or reversal trend set up. (1) The way I like to use this and found a higher percentage on winning is when price is on a strong trend, hitting a halt and creating a double top...
Hi Traders, Please find below three basic trading strategy's that can be implemented to any market on a daily basis. I have only given out basic information on the ratio's and Fibonacci's of the three strategy's, should you need anymore in depth information don't hesitate to contact me. 2618 Rules Of Engagement: 1. Double top 2. Break & close below...
Educational Study: This is an example of how you combine Gartley Pattern and 2618 Trade Together 1 Long the Gartley Entry: 2. Take Profit at TP1 AND TP2 3. Short at 0.618: 0.6790, SL: 0.6903, TP1: 0.6620 TP2: 0.6480 4. Look for RSI Over Bought and Trend Line Retest.
What is a Double top, and how to trade it?! 1. We should see a V shape between the two tops; 2. Look left and search for previous structure and eventual PRZ (price reversal zones); 3. The Highest High from the retest candle, MUST meet the previous Highest Close ; (it can go above the HH) 4. The retest candle, MUST CLOSE below the previous Highest...
USD/JPY - H1 - 2618 Trade Explained Having had a double top and now approaching a retracement back into the 61.8% Fib level, we can now look for reasons to short the USD. Unlike patterns we can't just place BUY or SELL orders in advanced. Once we have completed the rules of engagement below, we are looking for confluence within a certain area that all...
They say that consolidation is the best time to trade harmonic patterns and this definitely is not a lie. If you trade bat patterns, usually you take profit at the 0.382 and the .618 retracement of the AD move. We have reached that .618 retracement now and it's time to take profits. And immediately we have another setup, the classic 26.18 (or twenty-six...
I've already written my "Trading Recap" blog post for today but I wanted to share something with you guys. For you guys that have been following along with my blog you know that I've been working on an article looking at professional athletes and professional traders. One of my main comparisons is the amount of preparation and review that both do. Just like...
Since some people do not know what a 2618 trade is, and the opportunity is there, I thought I'd make an example for educational purposes. A 2618 trade is probably the safest way to trade a double top or double bottom and although the Risk/Reward ratio is a little less favorable, my preferred way to enter a double top/bottom trade. Basically, you wait for the...