Below is an analysis of the two price scenarios of LPT that will be discussed during the live broadcast next Friday.
Prices were at the location shown in the picture around 8.30pm on Friday
4-hour price trend analysis
The price is currently in a convergence pattern
The probability of an upward breakthrough is higher
If it wants to go up
There are probably two scenarios that will happen.
The first script
After the price breaks the false low, it retraces the trend line upward.
The second script
The price does not break the low point upward
The subsequent price broke the low point and moved upward, following the first scenario as expected.
Already analyzed in 4 hours
Then you can go back to the 1-hour trading cycle to see the intrinsic trend of the price.
Why do this?
1. The transaction is intraday short-term, and the order cycle must be 1 hour, 15 minutes or 5 minutes.
2. Small levels can see price movements more clearly
Draw the support and pressure points
Wait for price to test these levels before entering the market
When the price reaches the position we want
Watch for long opportunities
Subsequent price trends are consistent with long logic
There are 4 reasons to go long:
1. The price reaches position 2 and breaks through the low point 1 and rises rapidly
2. The price is supported at the support level and forms a Pinbar and rises rapidly by 1 point higher.
3. The price overshoots the channel line multiple times
4. Double bottom structure
Next is how to enter
What information does the price trend provide?
Setting up a trading plan
The price is bullish. The subsequent price gives a bullish signal for the first time, reaching a high of 1, and is supported at this low point for the second time, reaching a high of 2.
(If you don’t know how to count K-lines, please consult the assistant or watch the previously updated video)
Does the current price position resemble what we talked about in the post we updated this morning?
Let's look at the pictures
See if it's almost the same
History repeats itself
This morning we talked about two ways for traders to enter the market.
The first type: When the bullish engulfing occurs for the second time, the left side entrants can enter the market
The second type: When the bullish engulfing occurs for the second time, enter the market at the right side equal high 2
These two are your own trading styles. There is no right or wrong. Both are acceptable.
The difference is that
The left side is more aggressive, the right side is more stable
There are many trends, sufficient reasons to enter the market, and the signals are also given.
Trading plans can be formulated
The high pressure point before taking profit
Stop loss is placed at the bottom of the signal K line
The left trader sees the second entry signal: Bullish engulfing market entry
Profit and loss ratio 1:8
The trader on the right sees the second entry signal: Bullish engulfing market entry
Profit and loss ratio 1.:3
Whether it is a right side trader or a right side trader
This transaction is successful.
Well-reasoned
The purpose of learning technology is not to tell fortunes or flip coins.
Instead, there is a complete trading system
According to the current price trend
Do the right analysis
There are enough reasons to enter the transaction
I hope everyone can understand this.
Then you are thinking, how can I know if you are talking after a long time?
First: I can make a case for hindsight, if you don’t agree, try analyzing one yourself
Second: Upload the picture
I understand, no need to say more
This case just fits the content of this morning's article.
It can be regarded as a real consolidation for everyone.
I hope this helps you
I am Coach Panda who is good at making complex issues simpler.
If you have any questions, please leave a message in the comment area and I will reply to you as soon as I see it.
Don’t forget to follow and like, see you next time