Beg-Module 3 Naked Charting Steps
NAKED CHARTING STEPS
Please open your charts
Type in BTC USDT (COIN)
Zoom out in the chart
Put your Major Support and Resistance
Find if its Bear or Bull by using BB 50 and 0.2 If the candles are BELOW the Bollinger Band, then it is bearish
Look for trend boxes/patterns
Zoom in
Ask what type of trader you are? (Day, Swing, Position, Scalp)
In this process step, assume you are a DAY TRADER
Law / Rule of Timeframes
Day Trades 15 mins to 1 hour and up
Scalping 1 min, 3 mins, 5 mins
Position Trade 4 hours and up
Swing Trade 1 day and up
Look for trend/boxes form an imaginary box trend (PRICE ACTION)
PLOT YOUR FIBB (retracements)
See the video
Ask yourself, what do you want to measure when drawing fibb
11. PUT your confirmatory indicators RSI, MACD, CCI RSI 30
12. Find your Bread and Butter set up trade
– Bounce and Transition Play (we will study this in the class for beginners)
13. If you don’t see your bread and butter set up, look for another coin or WAIT
EXTRA INFORMATION – RULE OF BOUNCE/BREAKDOWN/CORRECTION
PART 1 – PRISON CANDLE
PART 2 – PRISON BREAK CANDLE
PART 3 – CONFIRMATION/TORY CANDLE (ENTER ONLY HERE)
IF THE BOUNCE, CORRECTION OR BREAKDOWN HAPPENS BELOW .5 or .618 (AVOID) or wait
IF THE BOUNCE, BREAKOUT HAPPENS ABOVE .382 (PREFERRED)
GMMG Admin