SteemitCryptoAcademy Season 3 Week 3 – Advanced Homework for @cryptokraze

• The first thing to watch out for, is that the market approaches a relevant resistance zone, once this is done, we proceed to mark this level.

• Then, we must wait for the price to make a breakout from this zone and make a new swing high.

• Now we must watch for the price to return again to the above mentioned resistance level which is now a support, in order to seek liquidity and move up again.

• Once the price has moved up, it must break this swing high in order to be a valid breakout, and then go to the last step.

• Once the price has risen and has made the break of the last swing point, we must take the entry, just above the last maximum point made (The break of the level).

^{Screenshot of Tradingview}

• The first thing to watch out for, is that the market approaches a relevant support zone, once this is done, we proceed to mark this level.

• Then, we must wait for the price to make a breakout from this zone and make a new swing low.

• Now we must watch for the price to again return to the above mentioned support level which is now a resistance, in order to seek liquidity and go down again.

• Once the price has gone down, it must break this swing low, in order to make it a valid breakout, and then go to the last step.

• Once the price has gone down and has made the break of the last oscillation point, we must take the entry, just below the last minimum point made (The break of the level).

^{Screenshot of Tradingview}

• What we must first do, is to limit the risk in case of loss, for this, we must establish a level to place our "Stop Loss", if this operation fails.

• This area where we will place our "Stop Loss", we will always place it below the resistance level that we marked at the beginning, which then became support for the "Retest".

• In case the price does not develop as we have planned, it means that the trade is invalidated and consequently we must exit the trade immediately and identify again the parameters for a new entry to the upside.

• Once we have entered the trade, we must set our Take Profit level to ensure our profit in case our trade goes in the right direction.

• The risk reward of the operation, must be the minimum which is 1-1, this means that both our take profit level, as the level of loss limit must contain the same amount of pips or percentage, for a balanced operation that does not greatly affect our capital if we lose.

• Finally, we can perform what is called a "Trailing Stop", which is to ensure our profits by raising our Stop Loss and letting the price develop if it still has a lot of strength to continue rising. This is so that we do not miss the entire price movement.

^{Screenshot of Tradingview}

• What we must first do, is to limit the risk in case of loss, for this, we must establish a level to place our "Stop Loss", if this operation fails.

• This area where we will place our "Stop Loss", we will always place it above the support level that we marked at the beginning, which then became a resistance for the "Retest".

• In such a case if the price does not develop as we have planned, it means that the trade is invalidated and consequently we should exit the trade immediately and identify again the parameters for a new downward entry.

• Once we have entered the trade, we must set our Take Profit level, this to ensure our profit in case our trade goes in the right direction.

• The risk reward of the operation, must be the minimum which is 1-1, this means that both our take profit level, as the level of loss limit must contain the same amount of pips or percentage, for a balanced operation that does not greatly affect our capital if we lose.

• Finally, we can perform what is called a "Trailing Stop", which is to ensure our profits by lowering our Stop Loss and letting the price develop if it still has a lot of strength to keep going down. This is so that we do not miss the entire price movement.

^{Screenshot of Tradingview}