I have a Donchian Channel set at period 71 on daily chart. I have already set my weekly FIB lines and have been following the retrace from March 2020. As per my previous ideas using Heikin-Ashi candles on the daily time frame only, I buy once the green candles close above the Donchian mid-point line. I stay in the trade until there is a red candle close. I will then close the trade. I will re-enter the BUY once there is a green candle close and it is above the mid-point line. I should point out that this plan is unlikely to be profitable in a sustained period of consolidation or ranging.
Commentaire:
By sticking to the strategy you should be riding the trend up.
Another comment about the plan. A candle with some body is important. If it's just a doji (no price movement for the days trading) then close the deal. The plan is to stay in for the long run. Closing small negatives or positives will not take away from the long trending run.