LONG AGExpecting bounce from extremely oversold weekly and daily levels. If stop breached, be prepared to catch new daily reversal on lower levels with a tight stop.
AG trade ideas
AG doughAnalysis done on 25/05/2020
Fundamental
→ 20 & 40 SMA sloping up
→ 20MA > 40MA
Awaiting buy trigger
→ CCI <-100
→ Low of daily bar touches 20MA or goes below 20MA
→ Close above 40MA
Pull trigger
→ Buy 1 bid above previous day high
→ Sell 5 bars later exclusive of initial bar
Stop Loss
→ 50% below price bought
AG potential upcoming buy opportunity As per the Chart
Abbreviations;
ND=No demand
NS= No supply
DW= Demand Wave
RFSB= Resistance from Supply Bar
SFDB support from Demand Bar
SLK= Stop Loss killer
SLKB= Stop Loss Killer Bottom
DB= Demand Bar
SB= Supply Bar
EVRB= effort vs Result Bottom
My Mentors and Inspiration
Volume Analysis - Oleg Alexandrov (Tradingview name: Chartreadingpro )
Money and risk Management - Dmitriy Lavrov
