This is not just a strategy that I am sharing its an ENTIRE TRADING SYSTEM.
1. where to ENTER
2. SL placement
3. How to manage the trade (MOST important element)
Once I am done sharing I will open the comments section or else the continuity of my post will be interrupted.
This is how the setup looks like. THREE indicators are to be used.
1. DONCHIAN CHANNEL (length 20)
2.RSI (length 14, upper band 60 , lower band 4)
3. OBV-EMA (input 20 )
All the indicators are available in trading view.
(1/n)
settings for the indicators
(2/n)
PURPOSE of each indicator
DC - will serve as a tool for ENTRY
RSI - will serve as a tool for entry confirmation as well as ENTRY
OBV-EMA - will serve as a tool for TREND IDENTIFICATION as well as TRADE EXIT
(3/n)
There will be TWO TYPES of ENTRY
1. ENTRY A = entry with the help of DC (please remember this )
2. ENTRY B = entry with the help of RSI (please remember this )
(4/n)