Jump to content

Triangles - another trade method that works


Recommended Posts

If done properly!

This played out last Thursday during the day

100% Technical Analysis

This happens frequently every week on various markets

On Thursday the DAILY chart Higher Time Frame momentum was BULLISH - See Independent FTSE100 chart below - Moving averages, DTF, DTOSC, STSTOCH and RSI were all Bullish at the close of play Wednesday 6th May

With that in mind Thursday 8th May trades are likely to form to the long side = path of least resistance most likely - remember nothing is 100% in the markets

270.thumb.JPG.8964a0fb53d4053eeb8012d14981399f.JPG

 

So with the above knowledge, Intra day 15 min chart - Details on the chart below:

Moving averages in perfect bullish order, Triangles form - other Indicators (not shown) were used in ascertaining that long was most likely the direction of the trigger, which puts the 'edge' into my favour rather than the houses  

269.thumb.JPG.053efe63fea7e9ff5ef20bc885fb492f.JPG

When I place a trade I already know my exit strategy - Triangles have target price level known as the trade order opens, I don't faff about trailing the market

To put R value into context, if you risk 2% of your trading account per trade then 2% = 1R - as you can see I risked 2R or 4% over 2 trades to make 14%

My advice would be only to take high-ultra high probability trades, put the edge in your favour and beat the markets, it can be done I promise you.

If your method does not show up, you simply don't trade, just wait

 

  • Like 2
Link to comment

Hi

Because the different indicators are for the different trading methods I trade so that I see within secs if a chart is set up of not - I don't even look at the MA's or DTF for this particular trade - I have my charts formed that way so that within seconds I can determine if a trade is setting up or not from the various methods that I trade - If all the ducks aren't in a row I skip the trade opp - Price formation, then the Indicator needs to confirm = trade set-up - it is simple and highly successful for the past 11 years.

The 1st chart is a different market to the one above - and I have another method that trades on MA's - the chart above is a precision based trading method, I appreciate that not all traders can use sophisticated methods, but when my income is dependent on trades taken I prefer to hold as many of the cards in my favour.

 

 

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • image.png

  • Posts

    • Elliott Wave Analysis TradingLounge Daily Chart, Dogecoin/ U.S. dollar(DOGEUSD) DOGEUSD Elliott Wave Technical Analysis  Function: Counter Trend Mode: Corrective Structure: Zigzag Position: Wave ((C)) Direction Next higher Degrees: Wave IV of Impulse Wave Cancel invalid Level:  Details: Wave IV May is complete and the price increase again in Wave V Dogecoin/ U.S. dollar(DOGEUSD)Trading Strategy: Overall, Dogecoin remains in an uptrend. Moreover, it looks like the correction is over. And prices are rising again in the fifth wave. But there may be a slight pullback before increasing. So look for opportunities to join the uptrend. Dogecoin/ U.S. dollar(DOGEUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, The Wave Oscillator is a Bullish Momentum.   Elliott Wave Analysis TradingLounge H4 Chart, Dogecoin/ U.S. dollar(DOGEUSD) DOGEUSD Elliott Wave Technical Analysis  Function: Follow Trend Mode: Motive  Structure: Impulse Position: Wave ((3)) Direction Next higher Degrees: Wave V of Impulse Wave Cancel invalid Level:  Details: wave ((3)) Is Equal to 161.8% of Wave ((1)) at 0.2488 Dogecoin/ U.S. dollar(DOGEUSD)Trading Strategy: Overall, Dogecoin remains in an uptrend. Moreover, it looks like the correction is over. And prices are rising again in the fifth wave. But there may be a slight pullback before increasing. So look for opportunities to join the uptrend. Dogecoin/ U.S. dollar(DOGEUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, The Wave Oscillator is a Bullish Momentum.   Technical Analyst : Kittiampon Somboonsod Source : Tradinglounge.com get trial here!  
    • MON Protocol aims to be a leading developer and publisher of blockchain-native IPs and games. Their vision extends beyond traditional gaming ecosystems, as they seek to bring games and gaming characters onto the blockchain. MON is an ERC-20 fungible token that powers and governs fractionalized IP ecosystems.   30% of the total supply is allocated for community claims, emphasizing community-driven initiatives. While 29% of the total token supply is dedicated to fostering growth and sustainability within both the Pixelmon and MON Protocol communities. All one billion tokens will be fully unlocked within 48 months of the token generation event (TGE), which is anticipated to take place in Q1 2024. This gradual release underscores MON Protocol's commitment to transparency and ecosystem development. Will MON Protocol's unique approach to IP governance, combined with Bitget's strategic listing, positions it as a frontrunner in fostering community engagement and sustainable ecosystem growth?
    • Another reason I prefer DAX to other markets is that I am able to use my own profitable method on it, which I call "Reverse Trades." In it's simplest form it is a good Entry Point, which is used repeatedly for trades, for as many times as the market price returns to this Entry Point.  This is illustrated in the chart below for 22nd May. The best Reverse Trades occur when the market beats the Entry Price and then re-crosses the Entry Price. If this is not clear, feel free to write to me and I will explain in greater detail.
×
×
  • Create New...
us