Learn a Simple Trading Strategy on a TradingView chart

Learn a Simple Trading Strategy on a TradingView chart

Learn a Simple Trading Strategy on a TradingView chart 300 169 Minimalist Trading – Best Trading Indicators for TradingView

The live trade that we just closed on our TradingView chart is a good one!

Here’s why.

By re-watching it (below), you can Learn a Simple Trading Strategy that you can immediately replicate, especially if you’re using a TradingView chart.

That’s because the Trading Indicators that we used during the trade and specifically developed for TradingView.

Actually, they are considered among the Best TradingView indicators for trading the markets.

In particular, in today’s trade we used the following three TradingView indicators:

The technical analysis that we made on the TradingView chart, suggests that we might get a second setup identical to another one which concluded recently.

What we should expect is a new impulsive movement to the upside and our forex indicators for TradingView are confirming such chart analysis.

Trade setup – 19 Mar 2020

Learn how to read the chart correctly Setup 1

It looks like the price is about to offer a second trading opportunity very similar to one that recently took place.

Trade update – 19 Mar 2020

Learn how to read the chart correctly Setup 2

The setup is confirmed and it’s perfect because:

    1. The price broke up the consolidation that we draw
    2. The breakup candle is green (colored by the Breakout Pivotal Bars)
    3. The bullish Sentiment Index broke its trend line at the same time

We can now expect a new upward movement at least of the same size as the previous one.

We then set the Stop-Loss and the Take-Profit accordingly, as we usually do.

Trade update – 19 Mar 2020

Learn how to read the chart correctly Setup 3

The price is moving up nicely.

Trade update – 19 Mar 2020

Learn how to read the chart correctly Setup 4

The price kept rising and now retraced a little bit.

In the meantime, we moved our Stop-Loss to Breakeven so that we’re now in a Risk-Free trade.

Trade update – 19 Mar 2020

Learn how to read the chart correctly Setup 5

A new resistance appeared which might compromise our trade.

However, this is the time when most beginner traders get emotional and ultimately take impulsive decisions.

We don’t, since we are at breakeven and since we know from past experience that these setups are very likely going to reach their Trading Target.

Trade update – 19 Mar 2020

Learn how to read the chart correctly Setup 6

The price went down further and then started back its upward movement. It’s now trying to break up the resistance level displayed by the Levels and Zones.

Trade update – 19 Mar 2020

Learn how to read the chart correctly Setup 7

The resistance is broken, and since it’s now a support, we should definitely reach the target.

Trade closed – 19 Mar 2020

Learn how to read the chart correctly Setup 8

The Trading Target that we’ve initially identified on the TradignView chart is now reached and trade is closed.

As we expected, we ended up closing another profitable trade for a 3.5x profit even if its management required some Trading Psychology skills.

In fact, many beginners traders might have easily compromised the trade result.

What do you think about this trade?

And do you use the TradingView chart as well for your trades? Or maybe you use alternative trading platforms.

Share it with fellow traders by leaving your comment on the YouTube video above!