NYSE - VISA - BREAK & RETEST - MOMENTUMBeginning testing phase using my system in the stock market!
Aiming for being able to use it for my own personal longer term investments, ideally to diversify and sow multiple income streams!
The strategy is simple but very systematic and well defined and it's taken me many years to really put together every part of successful trading down to the most intricate detail. If it can work in other markets as well as forex, then the proof will be in these public ideas that everyone has access to and that can't be deleted once posted so there will be no doubt of the authenticity and quality of the system. Which in turn, might open the door later on for potential educational material to diversify income streams which will in turn bring a higher quality of execution in the markets because there will be less financial pressure to perform.
Anyways before any of that takes place, I must see if the system can achieve a positive expectancy in stocks so be on the lookout for future stock posts as well.
Starting out with V using my bread and butter! The classic B&R play that appears throughout my ideas in forex. As far as timeframes, from pure observation in past instances with the stock market, I've found the 3 Day candle chart to be particularly clean in terms of price action so that will become my default timeframe for stocks for this first testing phase.
Lets see how this plays out over the next few weeks!
Breakandretest
ASIA: USDJPY - B&R - DEPLETION/MOMENTUM BUY STOPProvided that price jumps thru our buy stop we can take this setup as our simple 'Break & Retest' paired with our depletion/momentum entry signal and go for at least 1:2. Higher level buys seem to be stuck around 132.6 so we can use this as a guide for initial profits. Lets see if it plays out
LONDON: XAUUSD - BREAK & RETEST/BO - MOMENTUMThis London session has provided a beautiful setup in Gold as it seems to want to continue its push up. Classified officially as our B&R playbook trade but it could also be a breakout trade had we entered on the big bullish candle. Anyways on we go, lets see what happens
POTENTIAL BUY TRADE ON GBPJPY -BREAKOUT OF FALLING WEDGE PATTERNAs it can be seen from the chart, GBPJPY broke a critical resistance price level which has since then been retested. Evidently, it has successfully retested that level which has now become a strong level of support. In conjunction with the break and retest of the key level, GBPJPY has broken out of a bullish falling wedge pattern, increasing the probability of this trade being successful and reaching the expected price target.
*NOT FINANCIAL ADVICE, MERELY AN OPINION*