My Golden Rules - using XTZ for Analysis Example
Timeframes I use 5min for this but unable to publish at those lower timeframes but I've found an example recently where the rules lined up on 15m timeframe.
Step 1 - 2x MTF EMA (one set at 60min with 50EMA and the other set at 15min with 50EMA) The 15min must be above the 60min for a LONG
Step 2 - Looking for Lower Lows on the chart
Step 3 - MACD making a Higher Low below the ZERO line matching with the charts Lower Lows. The line should not cross the zero line between these two points
Step 4 - Check Stoch RSI at at min. 1 HR time frame (looking between 0 -20) and on uptrend
Step 5 - On first green candle (circled) to upside on MACD is the purchase zone. In this example it is shortly before the break of the downward trendline. Also possible to wait for break of line and buy on retest.
Step 6 - Set SL below the support line no more than 2%. Set profit target - usually take 3:1 R:R
Step 7 - Sit back and watch those nice green candles climb!
Can easily get stuck in charts at the lower time frames so be sure to always ZOOM OUT to 1hr / 4hr to get a better overall picture. Some Simple Gap Analysis can help to confirm the next general direction
Took me a month of gamble trading winners and losers to come up with this set of Golden Rules.
Don't forget Bolinger Bands! great for 1% snipes :)
Good Luck
Step 1 - 2x MTF EMA (one set at 60min with 50EMA and the other set at 15min with 50EMA) The 15min must be above the 60min for a LONG
Step 2 - Looking for Lower Lows on the chart
Step 3 - MACD making a Higher Low below the ZERO line matching with the charts Lower Lows. The line should not cross the zero line between these two points
Step 4 - Check Stoch RSI at at min. 1 HR time frame (looking between 0 -20) and on uptrend
Step 5 - On first green candle (circled) to upside on MACD is the purchase zone. In this example it is shortly before the break of the downward trendline. Also possible to wait for break of line and buy on retest.
Step 6 - Set SL below the support line no more than 2%. Set profit target - usually take 3:1 R:R
Step 7 - Sit back and watch those nice green candles climb!
Can easily get stuck in charts at the lower time frames so be sure to always ZOOM OUT to 1hr / 4hr to get a better overall picture. Some Simple Gap Analysis can help to confirm the next general direction
Took me a month of gamble trading winners and losers to come up with this set of Golden Rules.
Don't forget Bolinger Bands! great for 1% snipes :)
Good Luck
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