Hello, I’m Bitjin. Today I will tell you how to break through trading and get a good profit and loss
Breakthrough trading is a support and resistance line or any trend line and pattern
When we broke through, it is trading method having position at market price immediately in the direction of breaking
Once the entry method is in bitmex Through the Stop Market,
and bybit Conditional can be done through the market
At this time, close on trigger should be unchecked.
close on trigger is a feature used to reduce position.
But we need to uncheck because we need to have a position.
If you have the same section now
Check Inverse Head & Shoulders and draw neckline like this.
The price is $ 7330.
Once this Inverse Head & Shoulders pattern is complete, breaking this line sets it to have a long position in the market.
Set $ 7330 here
Click Buy / long. But these patterns,
The success rate of Head & Shoulders, Wedge, Triangles, etc. should be high, about 60% ~ 70%.
After completing the falling wedge pattern, the price drops and then rises again.
Adding these tricks down to about 30% to 40% success rate
So to make money with these patterns, it’s important to set a good profit and loss target and stoploss!
First of all, these types of patterns are easily found on the web.
If I explain only the trend line, the trend line is the outer line including high and the inner line except high,
It can be divided into two
In general, traders use more outside lines.
I connect the outside line with the inside line complexly.
I drew two downtrend lines.
Wide tails are better than narrow tails
The number of tails is important, but the spacing is also important.
And the downward trend line connecting the tail on the candle is the downward trend line
Break above this trend line will have a long position
And the upward trend line connecting the lower tail of the candle is the upward trend line.
Break above this trend line may have a short position
Let’s set the target and stoploss with this upward trend line!
A break above that trendline is priced at $ 9332. So assuming you entered
The stoploss is the Closing price, $ 9352, of the candle before it broke.
And when we break the trend line, the target
The center of the starting and entry price of the trend line,
$ 9200. Then the stoploss is $ 20 and the profit is $ 130.
So this is a good signal.
Next, let’s check the falling wedge pattern.
This pattern is likely to rise.
So if I break this trend line, I have a long position,
The stoploss is entered as $ 9284, the closing price of the previous candle.
The target of this falling wedge pattern is $ 9434, the starting price of the trend line.
Then another good profit and loss signal is created.
Next up is the Descending Triangle pattern, where prices are likely to go down.
When you break the $ 7120 line that supports this pattern, you have a short position.
In the same way, the closing price of the previous candle, 7147, is set as stoploss.
The target of the Descending Triangle pattern can be entered as $ 6950 by the high point of the pattern.
The distance between the two should be the same.
Next is the Inverse Head & Shoulders pattern, which breaks through this neckline at $ 6716.
We can have a long position.
And the stoploss is $ 6690
The target is like the Descending Triangle
Can be set to $ 6908. People who have difficulty setting prices like this
Use the Date and Price Range here. This tool makes it easy to set targets.
If you trade like this, you can predict this trend line and input reservation.
It is difficult to enter a stoploss unless you are looking at the chart at that time.
Unfortunately, there is no ability to set stoploss immediately in Conditional.
The only exchange it is possible is snapEX
The exchange can use the limit to wait for a long or short entry price,
For example, the neckline price is $ 7330 in the Inverse Head & Shoulders pattern.
For example, in the Inverse Head & Shoulders pattern, the price of the neckline is $7330.
So here we enter 7330,
If you enter a margin of $ 5 and a leverage of 50
It’s worth $ 250.
Then you can enter the SL and TP in advance.
So as mentioned before, the target is $ 8152
Then enter 8152 for TP,
stoploss is still before breaking the line
Since the closing price of the previous candle is unknown, it can be predicted and set to $ 7200
If you make this setting,
Break through trading like bybit and bitmex,
In addition, you can enter SL and TP together.
If entering, change the closing price of the previous candle.
But if you set stoploss in this way, you can manage the risk.
Indeed, this trading method has been a profitable way for professional traders over the years.
The win rate is low, but the profit and loss cost is good.
Just note that you have the possibility of losing 10 in a row,
Capital must be adjusted and invested. And in the meantime, if you lose money, you should not change the way you trade.
Only then can you make a profit through this trading method.
I haven’t been back testing
If you back-test yourself and win over 30%, you will make a lot of money.
I used this strategy last year.
But the downside is that you have to look at the charts all day long.
Still, if you use snapex, it’s better. Bonus link is in info and fixed comment
If you can still see the chart, you can do it bybit or bitmex.
If you want to reduce the risk
I also recommend using exchange snapEX.
Keep in mind that even if this is not the case, professional traders use a high profit and loss strategy.
If you have a high win rate and lose money, consider the profit and loss.
I will also use this trading for live streaming.
The btc trading contest, hosted by bybit, begins tomorrow. Thank you so many subscribers for participating.
I hope to share the prizes with you with good results.
Thank you for watching this video.