First of all, I would like to give a special thanks to my friend Chen Mao Yuan for teaching me the basis that made up this strategy. And also I would like to thank another friend of mine, Jason Lim for his keen support, motivation, and more? LOL
I am currently determined to trade with this strategy. Please note that it is not a fool proof strategy. Its not perfect. Let's get started
Time Frame: 4Hr/Daily
Indicators: zigzag (under custom indicators), trendlines
TP: previous resistance/support/pivot point
SL: recent resistance/support
Frequency: Trade only when you are free and have time to analyze for about 10 minutes. Once you open a trade, that's it for today. You may check it tomorrow or after a few days.
Trading Plan:
1. Have a clear view of the direction of the trend
2. Enter a trade once the price bounces off the resistance/support and slighly closes above it as you can see from zigzag.
3. set TP on the previous resistance/support/pivot point
4. set SL on recent resistance/support
I will post updates on this method in a few weeks time because I only trade once a week using this strategy which is ideal for those who are busy.
I SIMPLY LOVE THIS TRADING PLAN SO MUCH!!
Please follow this link to see examples.
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