This is a new trend continuation strategy I am beginning to test. It involves 2 pullbacks within the DAILY TF.
The 382 is a trend continuation fib level, however, entering a LONG entry when triggered may not provide enough confirmation in a strategical sense.
Therefore, the market has revealed a means to assess price action in a bullish trend by gifting us a confirmation trigger with the 618 pullback.
It is the 618 pull back coupled with a break of structure that builds a case for a LONG entry for trend continuation.
This is a trade only a systemcatic and patient trader will execute, thus reward vs risk is compounded over time.
Follow the steps in the visuals provided.
The 382 is a trend continuation fib level, however, entering a LONG entry when triggered may not provide enough confirmation in a strategical sense.
Therefore, the market has revealed a means to assess price action in a bullish trend by gifting us a confirmation trigger with the 618 pullback.
It is the 618 pull back coupled with a break of structure that builds a case for a LONG entry for trend continuation.
This is a trade only a systemcatic and patient trader will execute, thus reward vs risk is compounded over time.
Follow the steps in the visuals provided.