I have set the FIB levels based on the high of April 2019 down to the recent low of 0.875. I believe that is the low and a re-trace is on the cards. Therefore, I will only be looking to BUY from now on and any trades will be as follows. A blue Heikin-Ashi daily candle close above the Donchian mid-point line will be a continuation of the BUY. A candle that closes red and I will close the deal. No deals will be done below the Donchian mid-point line. This is all based on what I believe will be a long retrace back to the 2018 high. Obviously this view could be wrong and if it is, no trades will be taken because price will likely stay below the Donchian mid-point line. If this view is right, then the winning trades will far out way the losing trades in terms of longevity and therefore profitability.
Commentaire:
If you followed the plan you should be in the trade now and of course in profit.