Master patience to trade like a pro

Master patience to trade like a pro 300 169 Minimalist Trading – Best Trading Indicators for TradingView

Master patience to trade like a pro

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Introduction

Today we’re looking at another trading setup using our technical indicators, which are considered to be among the best indicators for TradingView. In particular, we’re using the Bottoms Tops Signal in combination with the Levels and Zones, and the RSI Exhaustion.

After performing our crypto technical analysis we understand that the trading opportunity that we are offered today by the market is very clear and safe, so we cannot miss out on this one. By using what we modestly believe are the best crypto indicators for TradingView, we set our entry price, the stop loss level as well as the target.

Trade setup – 8 Apr 2019

Master patience to trade like a pro Setup 1

All the three conditions that we usually look for are checked:

    1. Divergence between the price (which moves sideways) and the RSI Exhaustion (which moves down)
    2. Bullish exhaustion in the RSI Exhaustion
    3. A confirmed top

Moreover, the price is currently below a major resistance indicated by the Levels and Zones.

Not only this is a fantastic condition for a high probability trade, but also, we can exploit the resistance to set our stop loss just above as be sure to be extremely protected both by the sell zone and by the resistance itself.

Setting the target is even simpler because, once again, we exploit the Levels and Zones and set it down where a major support is currently at.

Trade update – 8 Apr 2019

Master patience to trade like a pro Setup 2

The price moved lower and now it’s moving slightly higher after having formed a bottom.

However, the general outlook is still bearish and the validity of our initial technical analysis is absolutely intact.

Trade update – 10 Apr 2019

Master patience to trade like a pro Setup 3

It’s taking forever, but nothing has changed from a technical point of view.

We just need to stay rational and avoid getting emotional as most beginner traders do in these circumstances.

Trade closed – 11 Apr 2019

Master patience to trade like a pro Setup 4

It looked like it was taking forever, and then it made two very long down candles in which the volatility increased significantly.

What started as any other regular trade opportunity, turned into a rather long trade which made many novice traders frustrated. This is extremely evident by the price action which moved sideways for quite some time, thus finding many sellers at that level… by the way, sorry for the buyers, they should definitely take a trading class on how to trade crypto. In the end, the price went all the way down to our target, the support level, and so we were able to close the trade with a 2.7x profit.