Indicators used :
1. Fib Extension
2. Renko chart
3. Cumulative Delta
4. OBV
5. RSI
Signals to buy:
1. Green brick to be formed between 1,272 and 1,618 Fib extension levels
2. Rising OBV line
Entry:
1. Divergence on Cumulative delta, or
2. Divergence on RSI / oversold level
Note: For a better RR, entry should be closer to 1,618 Fib level.
SL:
1. Price must develop more candles, so SL should be under the lowest candlestick.
Take profit:
1. TP should be at the first resistance level , or around 3900. I would not try to catch big RR countertrend.
Note: The last Renko brick is at a support level, if that breaks, then there is a probability that the price will continue falling/i]
Don't Stumble Trading. Trade Safe!
1. Fib Extension
2. Renko chart
3. Cumulative Delta
4. OBV
5. RSI
Signals to buy:
1. Green brick to be formed between 1,272 and 1,618 Fib extension levels
2. Rising OBV line
Entry:
1. Divergence on Cumulative delta, or
2. Divergence on RSI / oversold level
Note: For a better RR, entry should be closer to 1,618 Fib level.
SL:
1. Price must develop more candles, so SL should be under the lowest candlestick.
Take profit:
1. TP should be at the first resistance level , or around 3900. I would not try to catch big RR countertrend.
Note: The last Renko brick is at a support level, if that breaks, then there is a probability that the price will continue falling/i]
Don't Stumble Trading. Trade Safe!
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