EURUSD : Signal of the day with LuBotHello Tradingview people, from today I would like to start a new column about "the signal of the day" thanks to the use of the indicators that I have built based on my experience.
I have tried to make everything as simple as possible to allow even those starting from scratch to be able to replicate my operations, albeit mainly discretionary.
Since I started trading I have built and perfected my strategy which today is shown very simply in a single indicator that I have called LuBot. This is the basic indicator on which much of my experience is based and on which I base my analyses.
To support I use other indicators created by me that help me to realize when a Trigger/Signal can be more or less reliable.
In this case I propose this Trigger on EurUsd which satisfies most of the main conditions of my strategy.
On the graph I have summarized the satisfied conditions described below:
1) The Long Signal/Trigger given by a series of price action studies and candlestick analysis that I have had over time;
2) According to my way of seeing the structure of the market, the indicator highlights in yellow the candles whose structure is Bullish and in purple candles whose structure is Bearish. In addition to candle colors (which are deselectable for those who want to keep the original color)
bullish structure start and bearish structure start labels are shown (signals
SBS). Finally, always regarding the change of structure, I have inserted levels on the graph that one once violated they will start the structure change, so they are levels that could be
used as stop loss placement.
3) The Predictum indicator shows each month what the direction of the price will be. It's a indicator that I have been using for at least 1 year and I consider very reliable and easy to use.
In this case it indicates a clear Long direction without further points of attention.
4) The excess indicator is located in the "starting area", which coupled with the Trigger could
indicate a good time before the volatility explosion.
5) The LuTrender indicator shows a positive trend change on the current timeframe.
Together with the other indications it is certainly a plus point to follow the LuBot Trigger.
6) Since 30 May the price has never dropped below the ema200 on which it has created a sort of
floor/support which brought the prices to a price action of maximums and minimums increasing as shown by the labels HL and HH.
This reasoning, when you have these indicators, is very spontaneous, fast and intuitive to do. Even if this trade does not go as hoped, by following the strategy precisely and always following a certain logic, errors will be greatly reduced.
For this trade I insert a Stop Loss a few pips below the last swing low in the 1.0625 area and the Take Profit 1.1020
I've already been involved in this operation since yesterday and we'll see how it goes. In case the price action shows a reversal before the stop loss is reached, I will close the operation minimizing the losses. We potentially have a risk-reward trade of 1:2
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These analyzes are a sharing of my way of operating and of seeing and analyzing the market. I am not an investment advice as every trade has risk and loss is always around the corner.
