When a boxer is in the ring, they lean on the ropes for safety. And I provide this technique here, to you for free! 🥊 🏆
How SOMMI uses his Golden Ropes...
It is simple 200 period .
Be when price is above it, and be when price is below it.
This is meant to establish a bias, and not a strategy by itself.
- You can use this with a strategy such as Stochastics, or . 💚
- For example, when we're above the Golden Ropes, look for "dips" to buy, using your indicator 🧡
- And when we are below the Golden Ropes, look for "peaks" to sell. 💙
- Make sure you use a stop which is just beyond the Golden Ropes, if you are close to it.
Two of my favorite scalping strategies...
- The market is trending one way (example: Down) and then comes back and touches the Golden Rope and holds there.
- This is a great selling opportunity, most indicators will tell you to sell at this point. Lean on the Golden ropes!
- The market is slowly grinding upwards and comes back near the Golden Ropes, and holds.
- Buy the dip, and put a stop beyond the Golden Ropes. 💛
- The market has been grinding one way for a long time, on your selected time-frame. In this example, imagine it's been going up...
- It comes back towards the Golden Ropes and CUTS right through it on the downside.
- Sell through the Golden Rope, with a stop just above it.
- You MUST have a good price on this strategy, if you are too late and miss it, avoid FOMO and wait for the next trade!