Today we made a trade with profit. I would like to share with you the setup for this trade.
For Entry:
-Trendline bounceback
-ABC Formation
-Thrust
-hitting support (green rectangle)
-price accumulation
For Exit:
-Triangle Violation
-5min trend violation
-Brent Oil breaks the resistance line
-Major Resistance (red rectangle)
At the same time we were watching constantly the oil and USD Index. It was a fairly quick in and out. For the exit, especially the simultaneous triangle and 5-min trend violation was the trigger
For Entry:
-Trendline bounceback
-ABC Formation
-Thrust
-hitting support (green rectangle)
-price accumulation
For Exit:
-Triangle Violation
-5min trend violation
-Brent Oil breaks the resistance line
-Major Resistance (red rectangle)
At the same time we were watching constantly the oil and USD Index. It was a fairly quick in and out. For the exit, especially the simultaneous triangle and 5-min trend violation was the trigger