This STRATEGY Is Like A Trading GOLD MINE (Caution - other Traders will be Jealous)
Published: 2020-01-20
Status:
Available
|
Analyzed
Published: 2020-01-20
Status:
Available
|
Analyzed
Predictions from this Video
Incorrect: 0
Prediction
Topic
Status
A trading entry signal is generated when a price area has been tested by five candlestick wicks, with the entry occurring on the fifth wick.
"we're looking for an area that's been tested by five candlestick wicks on the fifth wick is an entry"
Pending
To identify a shorting opportunity, a horizontal line should be placed on the highest candle body of a swing high.
"for this entry what you need to know is that we're placing a horizontal line on the highest body from the swing high if we're gonna short this is a short example"
Pending
The entry for a short trade is identified on the fifth wick test of an area, specifically on a long red candle following the test.
"if we keep moving forward we get our fifth test of this candlestick wick right here with this long red candle at that point the entry I would personally use"
Pending
A stop-loss should be placed above the highest wick, with a target offering a 1.5x or 2x risk/reward ratio for this trading strategy.
"I would do something like this with a with a stop-loss above the highest wick over here and maybe a 1.5 or two-to-one risk/reward depending on what what what you want to do"
Pending
The first target for exiting a trade should be set at the most recently tested level of support.
"we have our first targets pretty quickly and the market pushed down why do you think I was interested in exiting the trade right here well this was the most previous level of support"
Pending
When identifying key market levels, consider both how recently and how frequently they have been tested.
"recency and frequency what I want is to see how recently the level was tested in the market and I want to see how frequently it's been tested in a recent manner"
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The five-wick entry strategy is most effective when the market is trending, particularly during pullbacks before a previous resistance level.
"if you're gonna try to use this as an entry reason the two conditions I would use would either be make sure to markets trending we know that by looking at our most previous one two three move the markets trending down then that's a level in an area I would look for a possible five-week entry"
Pending
For counter-trend trades using the five-wick strategy, it's advisable to only consider entry at levels of structure that have been tested multiple times in the past.
"for counter-trend the only way I would trade this in a counter trend way is if we were at a level of structure that had been tested multiple times in the past"
Pending
When identifying a swing high, a horizontal line should be placed there. If a candle closes above it, that becomes the next swing high to monitor.
"we have our swing up so we can already put a horizontal line right there if something closes above the swing huh then we have to look for that as the next wing ha"
Pending
The entry point for a trade, based on the five-wick test strategy, is on the green candle that completes the five-wick pattern.
"right here would be the entry on this green candle would be where you would want to actually enter the market if you're using this as an entry reason"
Pending
A winning trade occurred after a four-week test of a swing low, where the fifth week tested the area, leading to a market surge.
"we have our swing low here remember we can do this in Trinity uation and encounter trend as we push lower as we push higher we didn't get any five-week tests as we push lower here we already have four right we have one week 2 week 3 week 4 week we need one more week to test that and we have our entry let's see what happened there mark it shot up"
Pending
The discussed five-week entry strategy can be used to identify trading levels and execute trades in the direction of the trend.
"that's the wick entry the five-week entry I wanted to teach you today that's how to spot levels of structure to trade around and how to trade them in trend"
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