ETHUSD LONG - Mar 24 (ðēðïļJDSMF)
Strategy: âïļÂ Trapping Lighting
This strategy focuses on assets that are overall bullish either because of fundamentals or sentiment. They should be relatively simple chart behaviours with volatility dips that could be due to profit taking after hitting key levels or events.
As long as the event or news does not change the bullish sentiment or fundamentals.
I place my entries at points where most trades do not expect price to dip to or areas where general traders would place their SL points.
Because of the above points. These price points should result in a surge of new LONG orders.
My SL is generally small 2-3%, because if price goes against me that means the overall sentiment of the chart should be pivoting.
Will continue to tweak this strategy. One thing I am missing is a structure for breakeven adjustment and trailing stops
This strategy focuses on assets that are overall bullish either because of fundamentals or sentiment. They should be relatively simple chart behaviours with volatility dips that could be due to profit taking after hitting key levels or events.
As long as the event or news does not change the bullish sentiment or fundamentals.
I place my entries at points where most trades do not expect price to dip to or areas where general traders would place their SL points.
Because of the above points. These price points should result in a surge of new LONG orders.
My SL is generally small 2-3%, because if price goes against me that means the overall sentiment of the chart should be pivoting.
Will continue to tweak this strategy. One thing I am missing is a structure for breakeven adjustment and trailing stops
āļāļīāļāļāļēāļĢāđāļāļĢāļ: āļāļķāļāđāļāđāļēāļŦāļĄāļēāļĒāļāļēāļĢāļāļąāļāļāļēāļāļāļļāļ:
Reflecting on this trade, I realised I might have been too anxious to not miss a trade and placed my entry and SL too ahead. Also it looks like the market situation is changing