Combined technical scoring system trade
1 - RSI overbought
1 - RSI divergence
1 - Fibonacci extension confirmation
1 - Higher time frame confirmation - price action operating at upper trendline
1 - Advanced bat pattern completion in this zone
1 - Weekly resistance at 0.73000 - Major Structure
1 - Resistance at previous structure high - Minor Structure
1 - Double top
TOTAL = 8 POINTS
Target - At first level of support, this also aligns with the targets for the bat pattern.
Stops - ATR Based stop above the highs
I believe that bat patterns that can be backed up with further technicals such as the combined technical scoring system, are often the strongest.
I am 19, I have been studying price action trading over the last 3 months and so I am very much a beginner, any comments good or bad are welcomed!
1 - RSI overbought
1 - RSI divergence
1 - Fibonacci extension confirmation
1 - Higher time frame confirmation - price action operating at upper trendline
1 - Advanced bat pattern completion in this zone
1 - Weekly resistance at 0.73000 - Major Structure
1 - Resistance at previous structure high - Minor Structure
1 - Double top
TOTAL = 8 POINTS
Target - At first level of support, this also aligns with the targets for the bat pattern.
Stops - ATR Based stop above the highs
I believe that bat patterns that can be backed up with further technicals such as the combined technical scoring system, are often the strongest.
I am 19, I have been studying price action trading over the last 3 months and so I am very much a beginner, any comments good or bad are welcomed!