This is a “killer” Strategy if you follow its rules religiously.
CONDITIONS FOR BUY SCENARIO (The Opposite for a SELL SCENARIO)
1. Last wave on Monthly and Weekly TF is Upward, which means Main Trend is Upward.
2. We want to see a FRESH Bullish Price/Tenkan Sen Cross on Daily TF. We want a Cross, not necessarily a Close. If we don’t have it yet, we can place a horizontal line on our chart at the level where cross will happen and set an alert.
3. Next, we want to see price Moving ABOVE Tenkan Sen on H4 TF. It doesn’t matter if the current candlestick is bearish or bullish. All that matters is to see the price moving ABOVE Tenkan Sen. If it’s not moving above Tenkan Sen yet, we place a horizontal line at that level and set an alert.
4. If the two previous conditions are met, we go down to H1 Time-Frame and WAIT Patiently for the price to make a downward correction with a Bearish Price/Tenkan Sen Cross. Correction may be deep or shallow. It doesn’t matter.
6. As soon as downward correction is over -which means, we may have to WAIT for many hours, for the price to make a Downward Correction before resuming its Uptrend- and we see a strong and FRESH Bullish Price Tenkan Sen Cross with Tenkan Sen sloping Upwards….we BUY.
ENTRY CRITERIA :
1. Bullish Price/Tenkan Sen Cross on H1 TF with TS sloping Upwards (leading KUMO Bullish and Flying optionally).
2. Strong and Valid Bullish KUMO Breakout on M5 TF.
Below the KUMO on H1 TF and below recent price action loop or Spike.
1. We may place our Take Profit Target at RESISTANCE LEVELS on Higher Time Frames.
2. Alternatively, we may EXIT with a Bearish Price/Tenkan Sen Cross on H1 TF but that means we may be stopped out of a great rrade.
3. Alternatively, we may EXIT with an opposite Triple Cross on H1 TF which means Beasrish Price/TS Cross, Bearish Chikou Span/Past Price Cross and Bearish Chikou Span/Past Tenkan Sen Cross. Again, this EXIT Criterion may stop us out of a nice move.