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Trading Plan: Godspeed and Blessings

forex

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23 views1 page

Trading Plan: Godspeed and Blessings

forex

Uploaded by

lukieqr
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Trading Plan

The pin bar strategy


- Identify the trend and wait for a well-formed pin bar after a pullback at support/resistance.
- Use a 21 moving average when trendlines can't be drawn.
- Choose between aggressive or conservative entry.
- Always trade with confluence, using trend, levels, and candlestick patterns and tools.
- Confirm ranging markets with two touches on support/resistance; buy on support, sell on resistance after
the pin bar closes.
- Trade breakouts at major levels or wait for a retest, using tools like Bollinger bands for confirmation.
Engulfing candlestick strategy
- Focus on trend, levels (support/resistance, patterns), and signals (engulfing candlesticks).
- Use the 200 moving average to buy above and sell below; check for overbought/oversold conditions.
- Utilize 21 and 8 simple moving averages on 4h and daily timeframes for market identification.
- Look for price pullbacks, engulfing patterns, and moving average crossovers for trend changes.
- Use Fibonacci to find corrective levels, targeting 50% or 61%.
- Trade at major support/resistance with engulfing patterns or false breakouts.
- Be selective with sideways markets.
- Trade breakouts or wait for pullbacks.
- Focus on strong profit zones with good risk/reward ratios in larger timeframes.
Insidebar Candlestick strategy
- Indicates consolidation, with bulls not buying on the second day, shown by a short black candlestick.
- In bearish trends, marked by a small white candle after a strong downtrend.
- Identify the trend in strong markets and wait for inside bar formation in the market's direction.
- Safest entry is after a breakout.
- Trade dominant trends on larger timeframes (daily and 4h) from key levels.
- Be aware of stop loss hunting; use bigger timeframes.
- Use Fibonacci after a 50-61% pullback and trade false breakouts that form inside bars.

Additional
Mostly use daily candlestick patterns and few of 4h
Always use stop loss
Trade maximum of 2 sets per time
Test trade at end of 4h candlesticks
Try 2am for daily candlesticks
Always trade confluence of a minimum of 3, 4 is best
Don’t enter trade when not sure and don’t enter without analyzing first
Don’t trade against the trend unless in patterns of 4h, Daily and Weekly
Very buy at resistance and sell at support of pattern unless trading a break out
After breakout, look for pullback on smaller timeframes
Confirm breakout of pattern on smaller timeframes
Practice on when you enter after breakout and when to wait for pullback
Biggest targets, US100, US500, US30, Gold, Bitcoin, Vix 75
Others, VIX

GODSPEED AND BLESSINGS

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