so based on my analysis I see that the market just finished with wave 2 as a correction and there is a probability of heading up to the upside trading wave 3 of wave 3.
so for any potential trade, imma be waiting for the confluences
on the 4h ;
I'm always looking for loss of momentum on that specific fib S/R zone with price action reacting to that level ( always looking for shrinking candles, long wick rejection, Doji, and engulfing candles)
I do look for divergence on the RSI showing the luck of bears and an indication of the power of the bulls
and a spike to the upside signaling the strength of the bulls.
1h : my trend/structure confluence
imma be looking for HH/HL after the break of the HH that's my entry zone
i scale down to the 15m :
looking for ema's crossover
RM:
stops; bellow big structure (the end of wave2) safe
bellow previous structure HL (aggressive)
targets; depends, you can use the previous S/R zone
but mine is 1.618 fib matched with an S/R level
PSYCHOLOGY;
always think of probabilities, manage risk, follow ur trading plan.
so for any potential trade, imma be waiting for the confluences
on the 4h ;
I'm always looking for loss of momentum on that specific fib S/R zone with price action reacting to that level ( always looking for shrinking candles, long wick rejection, Doji, and engulfing candles)
I do look for divergence on the RSI showing the luck of bears and an indication of the power of the bulls
and a spike to the upside signaling the strength of the bulls.
1h : my trend/structure confluence
imma be looking for HH/HL after the break of the HH that's my entry zone
i scale down to the 15m :
looking for ema's crossover
RM:
stops; bellow big structure (the end of wave2) safe
bellow previous structure HL (aggressive)
targets; depends, you can use the previous S/R zone
but mine is 1.618 fib matched with an S/R level
PSYCHOLOGY;
always think of probabilities, manage risk, follow ur trading plan.
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