Hello traders
Today i'm going to teach one of the best trend strategies you can use to maximize your profits also you can check out my latest video going through that strategy
https://www.youtube.com/watch?v=LXfPvPR3cQQ
The pull back strategy rules
Today i'm going to teach one of the best trend strategies you can use to maximize your profits also you can check out my latest video going through that strategy
https://www.youtube.com/watch?v=LXfPvPR3cQQ
The pull back strategy rules
Bearish trade entry example
1 . market must break below the 50 ema
2 . market must make a new low
Now the order doesn’t really matter meaning that market could make a new low and then break below the 50 ema
Also it doesn’t have to be the 123 move
Any pull back must consist of two candles so if price form a one candle pull back then break into a new low It will not be valid break for me
The two candle pull back could be forming higher highs or could not
3 . market must make a two candle pull back before looking for entry
4 . entry is going to be an engulfing candle
Entry#1 if price doesn’t touch the 50 ema
Entry#2 if price touch the 50 ema and only have one close above it
5.engulfing pattern rules
123 engulfing candle if I have a two bullish higher highs candles followed by a lower high engulfing candle
A swing high engulfing candle in which case I require an engulfing candle that makes a higher high after two higher highs bullish candles
In both cases it doesn’t have to be the swing high I only care about the 3 candles patter
But the entry candle can not close at or below the previous swing
low body
the engulfing candle must close below the body of the previous candle
and it can be a gap candle
if price form a low then break above the 50 ema and close more than 2 candles then I will start looking for a new trade and I don’t require a new low below the low created before the bullish break I only need a new low after the new break
if price hit my target then touch the 50 ema then I wont look for entry unless price made a new low before
6 . sl
Sl will be an ATR based stop above the 3 candle pattern even if its not the swing high
20 pips will be the least sl
7 . TARGET
WILL always be at a 1 : 1 risk to reward
Entry#2
Will only happen if I get stopped out and then price touch the 50 ema and not have more than one close above it
In case price hit target and then rally and touch the 50ema and give me an entry I will not take it unless price has formed a new low before that
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