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  • Trading Bootcamp Revision-Confluence

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    Hoangminh Dinhthai
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    1) The document outlines a confluence strategy for identifying entry signals in an uptrend. It involves looking for confirmation of an entry when price pulls back to key levels on higher time frames (HTF) and breaks out of key levels on lower time frames (LTF). 2) It provides tips for valid vs invalid entry signals based on whether the price action is consistent with the big timeframe trend and key level stories. Invalid entries include when price revisits the HTF key level for a second time or if the key level is overbought/oversold. 3) It also discusses looking to smaller time frames like M5 if the middle timeframe lacks a clear structure, ensuring the trade remains aligned with the middle

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    1) The document outlines a confluence strategy for identifying entry signals in an uptrend. It involves looking for confirmation of an entry when price pulls back to key levels on higher time frames (HTF) and breaks out of key levels on lower time frames (LTF). 2) It provides tips for valid vs invalid entry signals based on whether the price action is consistent with the big timeframe trend and key level stories. Invalid entries include when price revisits the HTF key level for a second time or if the key level is overbought/oversold. 3) It also discusses looking to smaller time frames like M5 if the middle timeframe lacks a clear structure, ensuring the trade remains aligned with the middle

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    29 views4 pages

    Trading Bootcamp Revision-Confluence

    Uploaded by

    Hoangminh Dinhthai
    1) The document outlines a confluence strategy for identifying entry signals in an uptrend. It involves looking for confirmation of an entry when price pulls back to key levels on higher time frames (HTF) and breaks out of key levels on lower time frames (LTF). 2) It provides tips for valid vs invalid entry signals based on whether the price action is consistent with the big timeframe trend and key level stories. Invalid entries include when price revisits the HTF key level for a second time or if the key level is overbought/oversold. 3) It also discusses looking to smaller time frames like M5 if the middle timeframe lacks a clear structure, ensuring the trade remains aligned with the middle

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 4

    Trading bootcamp revision

    Trader #29: Light Confluence Strategy

    For uptrend

    Step 1: Signal
    1) HTF Up Key Level
    2) Price pullback and came into this HTF Up Key Level
    3) On the pullback wave, we had a structure and LTF key level also

    H1

    Signal 3

    Signal 2
    M15
    H1

    Signal 1

    Step 2: Confirmation for entry


    Price breakout from LTF Down Key Level

    H1 Here, there is a confirmation for


    entry using confluence strategy

    Confirmation
    M15

    H1

    Step 3: Entry
    Define the new up key level
    Entry at the new up key level
    Stop loss below the new up key level
    Take profit at HTF end of cycle

    H1

    M15

    BOW
    (Breakout wave)

    H1
    Trading bootcamp revision
    Trader #29: Light Confluence Strategy

    Tip for Confluence Strategy (i)

    VALID ENTRY IF
    BIG TIMEFRAME
    The price comes back to the big timeframe for the FIRST time
    STORY

    H1

    M15

    H1

    VALID ENTRY IF
    We trade on the FIRST or SECOND Key level MIDDLE
    in the middle time frame of the Breakout wave TIMEFRAME STORY

    H1

    M15

    M15 (1st)

    H1

    H1

    M15

    M15 (2nd)

    H1
    Trading bootcamp revision
    Trader #29: Light Confluence Strategy

    Tip for Confluence Strategy (ii)

    INVALID ENTRY IF
    BIG TIMEFRAME
    The price comes back to the big timeframe for the SECOND time
    STORY

    H1
    The big boys:
    Haha just kidding!
    We are taking
    M15 your money

    H1

    1st 2nd

    INVALID ENTRY IF
    The big time frame Key Level is an overbought/sold Key level (OKL)

    breakout breakout

    breakout breakout

    OKL H1 OKL H1

    pullback pullback

    pullback pullback

    Condition 1: Condition 2:
    The Key level here becomes OKL The Key level here becomes OKL
    because the wave 2 is at least 2x larger because the wave 2 has imbalanced
    than wave 1
    Trading bootcamp revision
    Trader #29: Light Confluence Strategy

    Tip for Confluence Strategy (iii)

    INVALID ENTRY IF MIDDLE


    The middle time frame has a straight market structure TIMEFRAME STORY
    (Strong momentum against the big timeframe trend)

    H1
    M15

    M15 (1st)

    H1

    When price does not come to middle timeframe Key MIDDLE + SMALL
    Level of Break-out wave (BOW), we can go to small time TIMEFRAME STORY
    frame to seek for an opportunity. Ensure that we only
    operate in two KL of middle timeframe

    H1

    Breakout wave
    M5

    M15

    H1
    The new
    Up key
    level

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