+10 Pairs broken down analysis

2023년 7월 12일

1. Indicator- 50 EMA
2. Identify market type.
3. Identify market structure and market trend.
4. Draw up support and resistance levels, and if applicable make use of chart patterns.

Conditions:
Market type and market structure should be identified on a higher timeframe.
Price must be above the 50 EMA for buys and below the 50 EMA for sells.

Entry:
When price is at an area of support in an up trending market drop down to a lower time frame and look for one of these confirmations; engulfing green candle, 2 adjacent green candles, a hammer, or a double bottom.
When price is at an area of resistance in a down trending market drop down to a lower time frame and look for one of these confirmations; engulfing red candle, 2 adjacent red candles, a shooting star, or a double top.
Entry at the closer of one of those options.

Stoploss:
My stoploss is normally below or above previous structure that was broken.

Target:
I personally use 1,4:1 just to make sure price hits those targets.