1. Identify the trend * On the chart: a. Part of Dow theory: multi-trades active at the impulse waves. Uptrend trend: - HH / Higher High: The following peak is higher than the previous one . - HL / Higher Low: The back bottom is higher than the previous one . Downtrend: - LL / Lower Low: The back bottom is lower than the previous one . - LH / Lower High: The posterior peak is lower than the previous one Pivot left: 15 Pivot right: 15
b. Keltner price channel: - Uptrend: Go above Upper 2 two times - Downtrend: Down to Lower 2 two times * Under Chart: ADX indicator: Used to identify a strong trend - ADX smooth: 9 - DI: 9 - ADX = 38
2. Entry point: - Buy: Buy limit at the Upper Keltner channel. - Sell: Sell limit at the Lower Keltner channel.
3. Take profit, stoploss ATR indicator (20) ( Average true range ) * 2