Ceetrader7
New Member
ENTRY RULES
Enter on the retest. Always target previous highs and lows for take profit and stop loss. Let your stop loss be 5 points away from your previous support or residence level depending on whether you are on a bearish or a bullish direction
EXAMPLE:
Z – PATTERN
Z – PATTERN RULES
Wait for NASDAQ to pick a direction for a day and then reverse forming a V – shape (inverse) and then complete the Z - pattern. As it reverses It will respect the previous low/high and shot up/down completing the pattern. Wait for it to go up/down to respect the previous low/high before taking trades. NASDAQ has a tendency of packing direction and the reverse to respect the previous low/high before moving up/down till the following day.
Enter on the retest. Always target previous highs and lows for take profit and stop loss. Let your stop loss be 5 points away from your previous support or residence level depending on whether you are on a bearish or a bullish direction
EXAMPLE:
Z – PATTERN
Z – PATTERN RULES
Wait for NASDAQ to pick a direction for a day and then reverse forming a V – shape (inverse) and then complete the Z - pattern. As it reverses It will respect the previous low/high and shot up/down completing the pattern. Wait for it to go up/down to respect the previous low/high before taking trades. NASDAQ has a tendency of packing direction and the reverse to respect the previous low/high before moving up/down till the following day.
