Trading Exercise #9 - Divergence Trading with MACD
- Open a chart with MACD - Look for divergences between the MACD and price - Wait for a reversal candle patterns - Enter a trade in the direction opposite to the divergence - Backtest before trading
- Open a chart with volume profile indicator - Find key volume S/R levels - Look for price reactions at these levels, bounce or breakout - Enter trade when the price shows confirmation of a reversal/continuation
Trading Exercise #5 - Mean Reversion with RSI & S/R
- Open a chart with RSI - Find overbought/oversold charts - Wait for asset to reach S or R - Enter trade when volume kicks in - Place SL below level - Backtest before trading
- Open chart with 2 EMAs (Eg. 50 & 200) - Find long-term trend based on Golden (⬆️) or Death Cross (⬇️) - Wait for a price to touch short ema (50 EMA) - Enter trade based on the long-term trend - Backtest before trading