70% moves inside the range-
- buy at the bottom of the range hope for a breakout north.
- great R:R ... 70% range bound move + 70% breakout = Potential 140% ROI
CAUTION
- range bound traders suffers many false breakout- watch for stop loss hunters
- use loose SL with small positions- once correctly identify the potential reversal zone (PRZ)- add to the winner
- buy at the bottom of the range hope for a breakout north.
- great R:R ... 70% range bound move + 70% breakout = Potential 140% ROI
CAUTION
- range bound traders suffers many false breakout- watch for stop loss hunters
- use loose SL with small positions- once correctly identify the potential reversal zone (PRZ)- add to the winner
Trade active
peak volume stops movement, candle with follow thrube cautious as mid term trend is def down. could still go lower but time to attempt to catch the knife- confluence zone
Note
Exited previous bounce attempt at breakeven- hoping for the swing not the scalp. Price action continues south.Most likely will start to form a bottom failure swing on RSI- this is not a buy signal thou. Need to have PEAK VOLUME and reversal candle on a large time frame 1hr or greater.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.