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Trade Identification Tip

12/05/2018 17:25

Below is a sample from Dean's work on Bitcoin Live.

 

Before entering a trade, Dean strongly recommends doing your homework.  You should not be rushing into a trade.  Doing your homework means taking some time at night or on the weekend to scan for plays that meet your trading style and setup criteria.  You then set alerts so that when price starts to approach your target entry you can evaluate the play again before entering - should you still wish to. 

One trade setup to look for is after an asset that has made a strong bullish move.  After spotting the correction, let it complete and find an area where it has found support.  He then found an inside candle - the lows of the candle are inside the price action of a prior candle.  

 

 


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