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Hello good evening friends, I hope you are always healthy.
Honestly, I am very happy tonight, because I closed this Thursday night in a satisfactory trading position.
I will not show my profits, but I will give an example of a strategy that I use in my trading positions, which creates a very good profit probability for me.
Curious, what strategy do I use? Let's review!
Two days ago, I saw a very impulsive gold movement.
Of course, looking for opportunities using the smart money concept trading method will be too complicated when looking at the chart.
However, I forgot that there are other ways to see trading opportunities when impulsive movements occur.
And it turns out this is true, because on the chart that I marked in the box, there is a very powerful killer setup.
I just did the analysis and set my entry limit.
In simple terms, the abbreviation SNRC is support and resistance continuation.
This is a continuation price movement, and this movement is very, very impulsive. So it makes us confused about finding a good trading area.
However, when this pattern is formed, they will be very lucky if they place an entry in it.
What you have to do is look at the impulsive movement trend in price movements.
I will give an example of my trading position in XAU.
You can see an impulsive trend, and there is a resistance pattern that is broken and continues to rise.
Did you know that it is the SNRC1 pattern?
To validate it is a SNRC1 pattern, you must draw a resistance line parallel to the center area of the base.
To be more precise, change the shape of your chart to a line chart like I did.
then you change your tradingview chart to default mode and place your position entry as in the example image.
You can see the price immediately go down, take an entry order, and continue pushing it up.
and this is the result of my trading on XAU.
I provide these results as a reference example only.
Conclusion |
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Basically, if you can find out killer setup patterns like SNRC1, your opportunity ratio for making profits in the market will be wider.
But I still use a small risk, as in trading results, I use risk. Because the market could say something else.
Dear @gitshock.trading ,
We appreciate your active participation and contributions to our community. To ensure a positive environment for all members, we have implemented a set of guidelines to maintain respectful and constructive discussions while upholding community guidelines.
Support and resistance is an effective trading strategy, I am glad you caught the move
Now Engage, Connect, and Inspire Each Other to Reach New heights.
Thank You.
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Sometimes a simple setup is enough to find the best trading opportunities.
Thank you for the feedback, friend.
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Thank you, friend!
I'm @steem.history, who is steem witness.
Thank you for witnessvoting for me.
please click it!
(Go to https://steemit.com/~witnesses and type fbslo at the bottom of the page)
The weight is reduced because of the lack of Voting Power. If you vote for me as a witness, you can get my little vote.
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Upvoted! Thank you for supporting witness @jswit.
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Interesting what you propose @gitshock.trading.
Using Smart Money concepts it can be said that a Good orderblock was formed, which was broken by the price and subsequently retested. It is the same as breaking resistance and turning it into support. It is a very good strategy
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