Idea
4 Hour chart shows a potential TK cross entering at large bullish cloud. Since we can treat the bottom of the cloud as a support and top as a resistance, there is a high probability that we will extend to the upper edge of the cloud.
RSI and OBV both show bullish signs, thus, a green candle opening in the cloud is likely.
Entry Setup
1. Wait for TK cross on the daily chart
2. Wait for a green candle to close in the cloud
Risk Management
Stop Loss
A. Use the bottom of the cloud as a stop loss since this would indicate failure.
B. Use 2% of your entry price
Personally, I would go with A here. Since the cloud can be more chaotic, you might hit B and get stopped out, while still remaining in the cloud.
You should adjust your stop loss as the trade progresses.
BTC: 13S4SDawAz94BnJJjrLKxnLW9kR4HrNEdG
ETH: 0xf0e4266a36ec4082f5a868f41fd01e296fa3b8ff
4 Hour chart shows a potential TK cross entering at large bullish cloud. Since we can treat the bottom of the cloud as a support and top as a resistance, there is a high probability that we will extend to the upper edge of the cloud.
RSI and OBV both show bullish signs, thus, a green candle opening in the cloud is likely.
Entry Setup
1. Wait for TK cross on the daily chart
2. Wait for a green candle to close in the cloud
Risk Management
Stop Loss
A. Use the bottom of the cloud as a stop loss since this would indicate failure.
B. Use 2% of your entry price
Personally, I would go with A here. Since the cloud can be more chaotic, you might hit B and get stopped out, while still remaining in the cloud.
You should adjust your stop loss as the trade progresses.
BTC: 13S4SDawAz94BnJJjrLKxnLW9kR4HrNEdG
ETH: 0xf0e4266a36ec4082f5a868f41fd01e296fa3b8ff
Note
Correction to my ENTRY statement above. We do not necessarily require the TK cross. We only care about a green candle closing within the cloud. The fact that the T line is close to the cloud is a good sign, as this indicates that the support is close to the mean.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.