TA challenge right side trader
Im right side trading for day trading focusing purely on technicals of the chart only for entry and exit.
An example of my trading strategy from last Friday is below. I'm only using the RSI, EMA, level 2, and price action for indicators. Not too many indictor as it will look like a university professor lectures and Picasso art 😆
1. So my trade below, I identify my setup once the price reach a support and bounce with its RSI showing 30 as seen in the chart around 11.45am. It reach the support which form at 11.30am and low of the support sill be my stop loss.
2. I will then look at the level 2 to identify that the price is stable and showing some up trend bias. This is discretionary and based on feeling.
3. Ride the price up and also monitor level 2 for exit. First sign is when a candle forming in the chart with at least 4℅ profit. Exit at the large green candle at around 12 am for maximum profit.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Investing with Aaron : Thank you. naked chart with no indicators except for volume and RSI is a better solution. Don't want that analysis paralysis scenario.
HardPrayerOP Investing with Aaron: yes. too many indicator I also don't know when to enter
. end up didn't do any trade
JC88 Investing with Aaron: Technical only say past and present, you need crystal ball for future.
Investing with Aaron : Need a fail safe and spare bullet to make lesser mistakes
HardPrayerOP JC88: nobody can tell future. even a company with good fundamental doesn't guarantee good stock price in future
HardPrayerOP Investing with Aaron: mistake sure will happen. just need make sure risk reward ratio is good. so if my entry is far from support usually I won't enter already