Hi everyone, corrective 4th wave of the pattern is getting filled, this gives us an opportunity to go short and fill 5th wave. As you know, I only trade “color options”, in other words, I bet on the color of the next candle in the price chart. So, as always, I will place bets on the next 10 candles with a view that most of them will be red. I will enter this trade after first red candle forms. My trade management rules are the same as always:
Rules:
1.Worst case scenario: if I will have 4 losing candles in a row, I will take my losses and look for a new set-up.
2.Best case scenario: If I will have 4 winning candles in a row, I will gladly take my profits and look for a new opportunity.
3.I will not trade more then 10 candles in a row and I will stop trading if I am up by 4 winning trades.
For example: if my first candle is a losing candle but the next 5 candles are winners, then I will stop trading, since I will be up by 4 wins (5 wins - 1 loss = 4 wins).
Please follow, like and comment !
Rules:
1.Worst case scenario: if I will have 4 losing candles in a row, I will take my losses and look for a new set-up.
2.Best case scenario: If I will have 4 winning candles in a row, I will gladly take my profits and look for a new opportunity.
3.I will not trade more then 10 candles in a row and I will stop trading if I am up by 4 winning trades.
For example: if my first candle is a losing candle but the next 5 candles are winners, then I will stop trading, since I will be up by 4 wins (5 wins - 1 loss = 4 wins).
Please follow, like and comment !
Trade active
Red candle has formed, we will now place bets on 10 consecutive candles that they will be red.
Trade closed: target reached
So, as per our rules, I made 10 bets, all of them on red candle and I had 6 winning trades and 4 losing trades. Since I get paid fixed 100% profit on winning trades, I made200% profit on my initial trade amount.
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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.