Hello everyone, nice rising wedge is forming in ETH/USDT chart. Since, as always, we trade "color options", our rules for entry are simple. We will enter our trade as soon as red candle closes bellow support line, but if price penetrates resistance, we will enter as soon as the first red candle forms.
Worst case scenario: if I will lose on 4 candles in a row, I will take my losses and look for a new set-up.
Best case scenario: If I will win on 4 candles in a row, I will gladly take my profits and look for a new opportunity.
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)
Trade active
My entry criteria has been met. Resistance line has been penetrated and I opened short possition after the first red candle formed. Now I will bet that out of the next 10 candles, majority of them will be red.
Trade closed: target reached
As per my rules, I placed bets on 10 candles in a row and had 6 wins and 4 losses. As mentioned before, "color options" pay fixed 100% profit on winning bets, so my profit for this session was 200%. Please, don't forget to follow me. Thanks.
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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.
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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.