Happy Sunny Texas Sunday, Traders!
Hope you find value from this post.
If you did, please give it a like and consider following.
Here's a trading idea.
But firstly...
==============================
Quick Disclaimer:
Trade at your own risk. This post/chart is for your reference only, it is not intended as a recommendation, nor is it an advice to sell nor buy this crypto asset, nor to place any trade.
Trading poses a risk of losing some or all of your money and it will be your responsibility if you lose money.
==============================
I wanted to share this strategy I've used for the past 5 years and it's been my go to strategy 100% of the time now since it's the simplest one of all strategies I've tried in the past.
This strategy is so simple even my 8 yr old is able to plot these and can tell when to buy and sell. If he had his own trading account he'd already be making money.
So, if you wish to follow along with this strategy it goes like this...
I've got price action set at the 4H timeframe, but you can use any timeframe you want and this strategy will work. I just wanted to use the 4H as it's my preference, it works around my schedule around my day and week and didn't want to sit in front of the computer or check the price action every now and then but also didn't want to wait for swing trades although I've an account set for that too for the ultra massive gains.
The indicator I use is the RSI.
I don't use leverage on my trades.
The key is to compare the behavior of the price action and RSI. What I look for is the divergence between the two.
I've plotted, on the price action for visuals purposes, the three dips and labelled 1,2,3 concomitantly drawing a trend line on the RSI which tells me to open or close a position.
When the RSI is below the 50% level, I look to open a long but only actually open the position when the RSI is right above as it has crossed the 50%. When the RSI is above the 50% level and has a bearish divergence against its price action then I look to close that position.
And as you can tell, I open a long position only when the 3rd inflection has shown up and maintained a bullish divergence on the RSI. I don't open the long position right at the bottom of the 3rd inflection, that is just plain craziness catching a falling knife.
Well, that's it!
Very simple, right? But works all the time.
If you have questions leave them on the comments box below. And if you also want a personal tutorial with this strategy, just reach out.
So, for now I am awaiting for price action to reveal the three inflection with a coinciding bullish divergence on the RSI. Then, just following the same exact rules for opening a long position (await for the 3rd inflection point, making there's that bullish divergence, enter when the RSI has gone above the 50% level).
For now, it's time to go to church as it is Sunday.
Always remember to place your Stop Loss.
Price action is KING!
Patience and Discipline are KEYS to a successful trade.
Trading is both a Science and an Art.
Develop an intuition and listen to your instinct while following the rules putting emotions aside.
If you have not yet developed it, you will develop this as long as you stay consistent with following
the rules. The skills will become second nature to you much like how you acquire the skill in riding a bicycle.
Soon it will be your subconscious running your trades, again, much like when riding a bicycle
the balancing is controlled by the subconscious part of your brain.
Be PERSISTENT and stay PERSISTENT.
Let me know what asset you wish for me to look at and evaluate for potential long set ups and I will post it here on TradingView.
If you found value from this post, consider giving it a like and subscribe. Furthermore, share it with someone you know will benefit from this.
More power to all your trades, my friends!
Ron
Intrepid_Trader
Hope you find value from this post.
If you did, please give it a like and consider following.
Here's a trading idea.
But firstly...
==============================
Quick Disclaimer:
Trade at your own risk. This post/chart is for your reference only, it is not intended as a recommendation, nor is it an advice to sell nor buy this crypto asset, nor to place any trade.
Trading poses a risk of losing some or all of your money and it will be your responsibility if you lose money.
==============================
I wanted to share this strategy I've used for the past 5 years and it's been my go to strategy 100% of the time now since it's the simplest one of all strategies I've tried in the past.
This strategy is so simple even my 8 yr old is able to plot these and can tell when to buy and sell. If he had his own trading account he'd already be making money.
So, if you wish to follow along with this strategy it goes like this...
I've got price action set at the 4H timeframe, but you can use any timeframe you want and this strategy will work. I just wanted to use the 4H as it's my preference, it works around my schedule around my day and week and didn't want to sit in front of the computer or check the price action every now and then but also didn't want to wait for swing trades although I've an account set for that too for the ultra massive gains.
The indicator I use is the RSI.
I don't use leverage on my trades.
The key is to compare the behavior of the price action and RSI. What I look for is the divergence between the two.
I've plotted, on the price action for visuals purposes, the three dips and labelled 1,2,3 concomitantly drawing a trend line on the RSI which tells me to open or close a position.
When the RSI is below the 50% level, I look to open a long but only actually open the position when the RSI is right above as it has crossed the 50%. When the RSI is above the 50% level and has a bearish divergence against its price action then I look to close that position.
And as you can tell, I open a long position only when the 3rd inflection has shown up and maintained a bullish divergence on the RSI. I don't open the long position right at the bottom of the 3rd inflection, that is just plain craziness catching a falling knife.
Well, that's it!
Very simple, right? But works all the time.
If you have questions leave them on the comments box below. And if you also want a personal tutorial with this strategy, just reach out.
So, for now I am awaiting for price action to reveal the three inflection with a coinciding bullish divergence on the RSI. Then, just following the same exact rules for opening a long position (await for the 3rd inflection point, making there's that bullish divergence, enter when the RSI has gone above the 50% level).
For now, it's time to go to church as it is Sunday.
Always remember to place your Stop Loss.
Price action is KING!
Patience and Discipline are KEYS to a successful trade.
Trading is both a Science and an Art.
Develop an intuition and listen to your instinct while following the rules putting emotions aside.
If you have not yet developed it, you will develop this as long as you stay consistent with following
the rules. The skills will become second nature to you much like how you acquire the skill in riding a bicycle.
Soon it will be your subconscious running your trades, again, much like when riding a bicycle
the balancing is controlled by the subconscious part of your brain.
Be PERSISTENT and stay PERSISTENT.
Let me know what asset you wish for me to look at and evaluate for potential long set ups and I will post it here on TradingView.
If you found value from this post, consider giving it a like and subscribe. Furthermore, share it with someone you know will benefit from this.
More power to all your trades, my friends!
Ron
Intrepid_Trader
