hothand250

This is a great system if you need a mechanal way to trade I generally use a Slow Stoch set at 14-3-3 and only use it to ID devergences or support and resistence the rest of my system is relying on supply and demand zones where price action left that level fast do to institutuional orders sitting in those areas.

see the bottoming tail bar before the bullish engulfing pattern before it crossed the EMA at the support level where you get your bullish engulfing and a bull elephant bar after that I would have put stop under that bottoming tail bar and enter trade as soon as the hi of that bottoming tail bar was taken out catching most of the first bullishish engulfing bar and placing stop under bottoming tail bar so if I'm wrong I have small stop and also it would prove my analysis of that support level wrong so I wouldn't want to be long there if I was wrong that way I have far better risk/reward I don't use indicators eitherI just use supply and demand zones as well as candle formations mainly the engulfing and topping and bottoming tail bars and I don't like entering trades unless I have 3x the reward to risk.