FKLI TRADING : 286) bracketing market with 2 advanced patterns
this is number 286...
as a continuation frm previous 285) episode, I would like to suggest another advanced pattern to look at, a bullish bat pattern...
the formation of leg D is possible at the critical support near 1550, which is at 1553-1548...
SL can put a few points below that, 1st tp 1575, 2nd tp at 1586...
So, by putting the 2 advanced patterns together, we successfully bracket the market with short range frm 1586-1592...
and bullish long frm 1548-1553...this is a pretty gud strategy to use during consolidation phase...which the market is going tru right now...
Again, pls get your trading plan first if you have none...this is crucially important if you treat your trading like a business, not gambling...
if you have no idea what is the winning rate/losing rate of this trading method, and what is the worst-case scenario, how it performs in the long run, dun trade this method...use anythg that u are familiar with, that u know the risk...alwaz be careful with those who promise u stars and moon, and a guarantee "quick-fix"...as thr is no such thing in trading industry...
*plan your trade and trade your plan... gud luck*
immediate resistance : 1586-1593
support : 1575
critical support : 1550 (the-hasn't-broken-and-possibly-never-will-level) also the lowest-low so far
WARNING!
RISK DISCLAIMER : this is juz a trading idea...trading stocks, futures , crypto, commodities or forex might incur a huge risk to your account/funds…DON’T LOSE MONEY THAT YOU CANNOT AFFORD…any idea(s) of trading in this episode SHALL NOT be regarded as a hint of BUYING or SELLING. It is MERELY a trading journal and it has been used for educational purpose only… trade at your own risk!
**your "LIKE" and "FOLLOW" are my main source of motivation to continue posting more valuable contents...TQ*
as a continuation frm previous 285) episode, I would like to suggest another advanced pattern to look at, a bullish bat pattern...
the formation of leg D is possible at the critical support near 1550, which is at 1553-1548...
SL can put a few points below that, 1st tp 1575, 2nd tp at 1586...
So, by putting the 2 advanced patterns together, we successfully bracket the market with short range frm 1586-1592...
and bullish long frm 1548-1553...this is a pretty gud strategy to use during consolidation phase...which the market is going tru right now...
Again, pls get your trading plan first if you have none...this is crucially important if you treat your trading like a business, not gambling...
if you have no idea what is the winning rate/losing rate of this trading method, and what is the worst-case scenario, how it performs in the long run, dun trade this method...use anythg that u are familiar with, that u know the risk...alwaz be careful with those who promise u stars and moon, and a guarantee "quick-fix"...as thr is no such thing in trading industry...
*plan your trade and trade your plan... gud luck*
immediate resistance : 1586-1593
support : 1575
critical support : 1550 (the-hasn't-broken-and-possibly-never-will-level) also the lowest-low so far
WARNING!
RISK DISCLAIMER : this is juz a trading idea...trading stocks, futures , crypto, commodities or forex might incur a huge risk to your account/funds…DON’T LOSE MONEY THAT YOU CANNOT AFFORD…any idea(s) of trading in this episode SHALL NOT be regarded as a hint of BUYING or SELLING. It is MERELY a trading journal and it has been used for educational purpose only… trade at your own risk!
**your "LIKE" and "FOLLOW" are my main source of motivation to continue posting more valuable contents...TQ*
As for 20th May 2021, both targets were hit yesterday, on 19th May 2021...
1575 and 1568...