Trading Strategy
Hey guys as you can see i have posted a trading strategy which you may have seen in some forex tutorials. But, i personally backtested this strategy on crypto as well and it works wonders.
As you know that crypto market is so volatile but still this strategy can bring great risk:reward and can fuel your portfolio if usen with great risk management. This strategy includes no indicators, thus you have to personally figure about this pattern. It includes mainly 3-4 elements to trade:-
Market Structure
In the starting we can see market is in a downtrend and is continuously forming lower highs and lower lows. After then the market went above the lower high area thus making higher high and then it goes down a little bit but not as down as the previous low and then continuing the uptrend.
Point of Interest
After the market was done falling we saw a consolidation for some time which happened on a green rectangular box which indicates that in the past, the market had created a big wick on the 15min. timeframe chart and a reversal in that area. After consolidating for a while, the market changed the trend and went upside.
CHoch
After the market moved upside from the consolidation we saw that the market went above the previous lower high hence giving us an indication that bulls might be in control now. After a small drawdown the market started going up.
Order Block
After the trend reversed we saw a little drawdown in the market before moving up, after going on to the lower timeframes than 15 such as 1 min. etc. We saw a small bearish candle followed by several bullish candles on the previous impulse move. After drawing a zone on the high and low of the bearish candle, the current price touched that area and went on to reversing the price again and moving upwards.
These were the tools on which this strategy is created. It is not my strategy but testing it own my own one can become profitable after using a good risk management technique.
from TradingView Ideas https://ift.tt/3HP6yL4
via gqrds
source https://www.smartmoneymanagement.info/2022/01/trading-strategy.html
No comments:
Post a Comment