ETHUSD, another set-up to profit from “color options”

19 feb 2020

Hello fellas, if you are also trading “color options”, please check out this set-up and tell me what you think. Nice triangle is forming after a price run-up in Ethereum 15min chart. Since triangle is considered a continuation pattern, my bias is bullish. So, as soon as green candle closes above resistance line I will start buying “green option” on every consecutive candle. If red candle closes bellow support line, I will abandon this set-up. My rules are the same as before:

Rules:

7.Worst case scenario: if I will have 4 losing candles in a row, I will take my losses and look for a new set-up.

8.Best case scenario: If I will have 4 winning candles in a row, I will gladly take my profits and look for a new opportunity.

9.I will not trade more then 10 candles in a row and I will stop trading if I am up by 4 winning trades.
For example: if my first candle is a losing candle but the next 5 candles are winners, then I will stop trading, since I will be up by 4 wins (5 wins - 1 loss = 4 wins).

Please follow, like and comment !

19 feb 2020

Ordine annullato

Looks like red candle closed bellow support line before my entry was activated, which means I will abandon this set-up and look for a new one.

19 feb 2020

Nota

I also opened a public chat room on tradingview. Search for - candle color options - if you have any questions or want to share ideas in real time, please visit it. Thanks.