TriscoTech Fx/Crypto
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📈Free Forex Notes📉

A Step by Step Tutorial Procces

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If there is ever an OB that you doubt, then it's not a clear OB.

If it were a clear OB, you would never question it.
Once you identify your OB, set and alert and sit on your hands.
Step 3
The entry
ENTRY:
Now time to look to enter the trade.

Once price is there, go to a lower time frame of your choice, there is not set
time frame, no set rule about this, can use 1min, 5min or even 8min.
Whatever time frame suits your fancy it is down to you
However, the main thing we look for is a Break of structure (BOS).
A good BOS is key. Now a BOS can be seen differently by many.
Some use wicks as break of structure,but that doesn't apply to my strategy.
I always wait for the first high to be taken out by a whole candle body before I can Mark it as a BOS
Once you have identified a clear BOS, you need to locate your LTF OB.
Again, you want the same as before. You want a clear OB, emphasis on the word clear.

An OB with inefficiency. This is where you will look to enter your trade
So you've done all that and now at the point where you have found your LTF OB which is very clear

However, if you chose a
risk entry method, the rules are the same.

However, risk entries only worth doing if momentum is in your favour.
There are a few ways you can enter,

You can set a limit order at the:
OPEN of the OB
50% of the OB
All placed with stop loss above the OB including spread if you are selling or
stop loss below the OB if you are Buying also including spread.
If you trade major pairs, such as EURUSD spread shouldn't be an issue
The Open of the OB being the highest probability of trigger with the wick

Note, I said triggering, not
probability of the trade winning, as that probability is the same regardless
And this is the end of the SMC Trading Strategy.
Bullish Flag pattern
It’s a temporary pause after an upward move.
formed when price consolidates between a downward sloping support and resistance lines just like in rising wedge.Here, the slope of the support line is just as steep as that of the resistance. This indicates that higher lows are
being formed at the same rate as higher highs. This leads to a rectangle-like formation sloping downwards, forming the shape of a flag
Bearish Flag pattern
It’s the opposite of bullish flag pattern. It’s a temporary pause after a downward move.
formed when price consolidates between a upward sloping support and resistance lines just like in rising wedge.Here, the slope of the support line is just as steep as that of the resistance. This indicates that higher lows are
being formed at the same rate as higher highs. This leads to a rectangle-like formation sloping upwards, forming the shape of a flag
TriscoTech Fx/Crypto
Photo
This First 2 boxes of this picture shows the Bullish Flag and Bearish Flag
Bearish Flag Pattern
Bullish Flag Pattern
Ascending Triangle
This type of triangle chart pattern occurs when there is a resistance level and a slope of higher lows.
What happens during this time is that there is a certain level that the buyers cannot seem to exceed.
However, they are gradually starting to push the price up as evident by the higher lows.
Descending Triangle
As you probably guessed, descending triangles are the exact opposite of ascending triangles ( I knew you
were smart!). In descending triangle chart patterns, there is a string of lower highs which forms the upper
line. The lower line is a support level in which the price cannot seem to break.