Section 9: TrendX Entry (Daybreak Intermediate Trader)
Section 9 - TrendX Entry (Daybreak/ Intermediate Trader)
3. TrendX Entry (Intermediate Strategy)TrendX, our in-house advanced indicator, complements Daybreak for a high-probability mean reversion strategy. If you want more details on TrendX, click here.
We take immense pride in TrendX, as we believe it's the most powerful indicator of its class, providing timely alerts indicating overbought and oversold conditions. Unlike traditional indicators like MACD, RSI, or Stochastic, lag and deliver delayed signals. TrendX employs advanced algorithms for real-time insights into these conditions. Many existing indicators rely on historical data, leading to delays that can challenge both professionals and novice traders. In contrast, TrendX excels by forecasting market conditions slightly ahead of time, swiftly identifying overbought and oversold areas, reflected in real-time through changing candle colors.
Here's how to harness TrendX to enhance Daybreak signals:
Long Entries: Enter long positions only when Daybreak signals a ‘BUY’, and TrendX indicates oversold conditions by changing the candle color.
Short Entries: Enter short positions only when Daybreak signals a ‘SELL’, and TrendX indicates overbought conditions by changing the candle color.
Steps To Entry
Trader receives a ‘BUY’ or ‘SELL’ alert from Daybreak at the same time TrendX alerts of overbought and oversold levels.
Trader places immediate market order entry in the direction of the signal.
Trader sets TP1 at the Yellow line automatically placed by Daybreak
Trader sets TP2 at the blue line automatically placed by Daybreak
Trader sets stop loss (SL) below or above the signal candle depending on whether it's a ‘BUY’ or ‘SELL’ signal
Example 1(B) TrendX ‘SELL’’ Entry
Example 2(A) TrendX ‘LONG’ Entry
When Daybreak signals a buy or sell signal and TrendX indicates overbought or oversold conditions, it's wise to give thought of placing an entry. A Daybreak signal carries a substantial probability of success on its own, and when combined with TrendX, the likelihood of a successful trade increases significantly.
