Simple box trade model, with basic Wyckoff principals, VWAP and FIB. I thought it might help new traders with buy and sell targets. Also helps to frame forming patterns as it can reduce surrounding noise.
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To be clear - box is 3 days wide. trade to top sell and adjust box to new trend: top becomes new base etc.
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Box is now adjusted to go short
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Adjust the short with a trailing stop, via your exchange.
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*short stop loss.
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*So stop loss moves down or up the box with price. Use Wyckoff schematics for directional trends. Bull trend if price moves above VWAP or Bear trend if price moves below VWAP. Use a moving Fibonacci for support and resistance. Use the frame (box) to seek bull flags, bear flags, wedges and triangles, etc.
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Use box base exits for entry down and the box floor for support for longs. Be mindful
whips in or out. Look for pattern and trend identifiers. Use the box to remove emotions, treating it like a machine moving with the the trend.
whips in or out. Look for pattern and trend identifiers. Use the box to remove emotions, treating it like a machine moving with the the trend.
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*moving with the trend.
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Entry is only at bottom or top never in the middle. This way, the entry point is the stop loss or just (below/above), if quick trend change, you preserve your capital, even if profit is lost, your own capital suffers only very minor losses - fees etc.
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EXAMPLE SETUP AND STAGES OF BTGUSD TRADE.
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TWO VWAP TIMEFRAMES ARE USED FOR SECONDARY RESISTANCE AND SUPPORT FINDINGS. IF BOTH BREAK UP OR DOWN NORMALLY INDICATES STRONGER TREND.
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Hopefully this will be helpful to new traders, looking for a simple way to tunnel vision through the noise. Simple rules and structure and a model not crowded with indicators - just VWAP, FIB and basic geometry. Good luck!
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