I'm currently working on a project to build a database of the most popular trade setups and need your help and input so we can all help each other trade more successfully.
To get the ball rolling the attached image is an example of one of my favourite trade setups.
The key things I am looking for in this setup are:
1) MACD has moved above 0 showing the end of the trend. 2) The MACD histogram bar remains close to 0 3) A Stochastic Cross occurs between 0 and 30 - If the MACD conditions have been met, the Stochastic cross acts as the trigger event to open the trade.
This is a one of my favorite trade setup. It’s simple and effective most of the time. Stock breaks out of long term consolidation, hits the nearest resistance. A long entry will be at the break out and exit at resistance. Next day, watch the stock for a follow through and look for a long entry on a higher low or on previous day high.
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