ETH - trade rekap
Updated
Disclaimer: If you think this chart is a mess, you are wrong. Here, we are dealing with lots of fibonacci lines to find confluence at specific zones we want to trade. As we want to maximize our profits, we want to trade at highest possible risk reward ratio. As this is a game of possibilities, our job is to find specific zone with highets probability to make price reaction.
Scalp trade. This is how we catch the trades, because we are traders, not gamblers. Why this trade works? Because we have mutiple confluences at the same place. Its yellow trend line of few wick highs. Its blue EMA 233 which is very important EMA. Next, there is 1 fibonacci extension. Enough to think of taking a trade. Now, there is already 1:3 profit taken. You can drive this all the way down if possible, or moving the stop loss in profit level by level.
Happy trading :))
Tools:
- Fibonacci retreacement
- Fibonacci extension
- Pitchfork (All types)
- Trend lines
- RSI
- EMA fibonacci numbers
If you take closer look, you can see how price respects the lines. If the trade analys is good, we can find a place where the top/bottom of the wick will happen, therefore place an entry buy/sell order and let the magic happen :)
Scalp trade. This is how we catch the trades, because we are traders, not gamblers. Why this trade works? Because we have mutiple confluences at the same place. Its yellow trend line of few wick highs. Its blue EMA 233 which is very important EMA. Next, there is 1 fibonacci extension. Enough to think of taking a trade. Now, there is already 1:3 profit taken. You can drive this all the way down if possible, or moving the stop loss in profit level by level.
Happy trading :))
Tools:
- Fibonacci retreacement
- Fibonacci extension
- Pitchfork (All types)
- Trend lines
- RSI
- EMA fibonacci numbers
If you take closer look, you can see how price respects the lines. If the trade analys is good, we can find a place where the top/bottom of the wick will happen, therefore place an entry buy/sell order and let the magic happen :)
Trade active
Taking partial profits is very important. You can never be sure that the price will reach your final target. Lower you stop loss price to be sure your profit will be taken if the price changes direction.Trade closed: target reached
1:13 risk reward taken! Look at the price action carefully. Before we went through the target we had a bounce from the median local pitchfork white line. Then we break through.
Disclaimer
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