look for a trend
now wait for the trend to break for a countertrend in this example the trend is down and we have a move up slightly
if the counter move does not last as long as the original move
trade is opened target is the size of the counter trend
so in this example well wait for the trend to break down to go short
now wait for the trend to break for a countertrend in this example the trend is down and we have a move up slightly
if the counter move does not last as long as the original move
trade is opened target is the size of the counter trend
so in this example well wait for the trend to break down to go short
Note
target example the break of the trend happened at 39800 top so far on the counter trend is 40400 thats 600 so target from the breakdown trend is 600Trade active
move ended up being 1066 from 39800 to 40860entry was 40450 target 39390
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.