ZECUSD - entry signal using count back line analysis
ZECUSD - recent pullback appears to have found a base and down trend has ended.
Using count back line analysis - find the new low
Then count back 2 significant days and draw a green line to the right handside
When a daily candle closes above this line - that is the buy signal.
Stop loss placement redline is the low of the day that pierced the green line.
Adjust the stop line up as price moves up or close out if price closes below red line.
Using count back line analysis - find the new low
Then count back 2 significant days and draw a green line to the right handside
When a daily candle closes above this line - that is the buy signal.
Stop loss placement redline is the low of the day that pierced the green line.
Adjust the stop line up as price moves up or close out if price closes below red line.
Trade active
A well placed stop loss line has kept me in this trade. Exit signal is a close below the red stop loss line. This has not occurred and the trade remains open. Weak hands get shaken out of trades when they don't go as planned straight away. Count back line stop level in this case has kept me in the trade with only a small amount of capital at risk.Trade active
daily candle shows buyer support below 200 = bullish
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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.