1. Identify the trend * On the chart: a. Part of Dow theory: multi-trades active at the impulse waves. Uptrend trend: - HH / Higher High: The following peak is higher than the previous one. - HL / Higher Low: The back bottom is higher than the previous one. Downtrend: - LL / Lower Low: The back bottom is lower than the previous one. - LH / Lower High: The posterior peak is lower than the previous one b. Keltner price channel: - Uptrend: Go above Upper 2 - Downtrend: Down to Lower 2 * Under Chart: Stochastic indicator: 21 past candles - Uptrend: Index K and D surpass 80 - Buy zone: Index D is large 80. ---------------------------- - Downward trend: K and D indexes go down to 20. - Sell zone: Index D is less than 20.
RSI indicator: 21 past candles - Uptrend: value exceeds 80. - Downward trend: value exceeds 20.
ADX indicator: Used to identify a strong trend - ADX smooth: 9 - DI: 9
2. Entry point: - Buy: wait to buy on the Upper Keltner channel. - Sell: wait for sell at the Lower Keltner channel.
3. Take profit, stoploss ATR indicator (20) ( Average true range ) * 2
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