Long

Updated

Fibonacci Trading And Price Action

Set up a Fibonacci price cluster and a Fibonacci time cluster with resistance. According to the personal setup I am expecting, today will be the day of market reversal.

Note

Note

Wow. Price hit resistance, but DXY was still strongly bought. I still keep the order with a moderate volume suitable for the account. Let's see how the price will run?

Note

Trade active

I placed an order to buy EURUSD, I think the crowd is too scared, They bought DXY and sold off Gold.
I was taught a saying in the marketplace.
"The one who lives the longest is the winner."
Remember to enter orders that are suitable for your account, do not trade with emotions.

Note

My entry point for this order is really not very good in terms of stop loss and take profit ratio. But if I enter the appropriate volume for my account, if I lose this order, I will lose 3% of my account.

Note

I noticed the appearance of a divergence between MACD-Histogram and price, when price created a new bottom lower than the old bottom while the corresponding bottoms of MAC-Histogram created disproportionate bottoms. If the divergence starts, I think it will be like a bow being pulled taut and then letting go and shooting the price arrow straight up. I have seen a few moves to buy when this divergence appears.

Note

If you want to trade the divergence I provide, you should go down to the smaller timeframes to find good entry points.

Note

The bullish divergence has been activated.

Note

Divergence is started again. I was not wrong in this entry analysis.
Trade with a volume appropriate to your account. Even if you hit your stop loss, your loss should not be more than 2-3% of your account.
Don't enter orders with emotional volume.

Note

Hidden bearish divergence on DXY

Note

Activate DXY divergence on timeframe D1 on H4

Note

Trade active

Note

Set up my intraday entry point, based on Fibonacci price cluster support on DXY to comment on orders on related products. I will trade with EURUSD.

Note

Because this is intraday trading. I will move the stop loss to the breakeven point.
Currently if I close this order, I will receive 3.5 pieces of cake, I have to pay the floor for 1 piece of cake, and I get 2.5 pieces back.

Persephone_AM

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.

Persephone_AM