The Algorithm trader 🏌
Todays candle close is important 🏌♂ should we see a close below , I would focus on sells possibilities... a close above , I would simply look away 🏌♂
Price did reverse towards my direction, currently falling 480pips .. take profit 1 narrative almost met 🏌♂
Okay looks like I would talk on reversal pattern ...
A reversal is where there is a total change in market direction , depending on the market environment....
What usually happen during reversal pattern is ..
1 algorithm takes out the early traders out of the market ..
2 triggers and trap buy stops or sell stops traders..
3 once the previous highs or lows have been cleared out , it is important to seeing price close within the range...
4 once that is seen, algorithm would then aim to the highs or lows that brought price to make that reversal pattern ...
5 and sweeping of the highs or lows should happen around htf reaction level ...
6 once the previous highs or lows have been taken out , and price closes within its range , there should be a sharp run away in price 🏌♂
A reversal is where there is a total change in market direction , depending on the market environment....
What usually happen during reversal pattern is ..
1 algorithm takes out the early traders out of the market ..
2 triggers and trap buy stops or sell stops traders..
3 once the previous highs or lows have been cleared out , it is important to seeing price close within the range...
4 once that is seen, algorithm would then aim to the highs or lows that brought price to make that reversal pattern ...
5 and sweeping of the highs or lows should happen around htf reaction level ...
6 once the previous highs or lows have been taken out , and price closes within its range , there should be a sharp run away in price 🏌♂
The Algorithm trader 🏌
Let time frame relationship guide u , I don't just trigger trades , I wait for timeframe relationship to give the go ahead , if I don't see a go ahead , I don't trade it ... this is just an idea , as long as the minor high is not threatened, should it be…
Poi 2 , we are in a minor bearish environment till that low is taken ,
The Algorithm trader 🏌
Characteristics of a reversal pattern ? Once I see a close below this previous high, I become bearishly inclined ...
Hnmn .. still in its formation stage, but we shall see 🏌♂