How to make money in Olymp Trade: Uptrend and entry signals

How to make money in Olymp Trade: Uptrend and entry signals
How to make money in Olymp Trade: Uptrend and entry signals

العربية 简体中文 हिन्दी Indonesia Melayu فارسی Português Русский Español ไทย Türkçe Tiếng Việt

In this tutorial, I continue to write about T.S method (trend + Signal). But I focus on Uptrend strategies. We will learn more about how to confirm an Uptrend and how to identify candlestick patterns (signal) to open UP.

Commitment: I don’t show off knowledge to open any course or raise investment trust funds. Say no to gather newbies to an investment channel. This is a series of pure sharing articles.

You can review the 1st article here: How to make money in Olymp Trade: Trend is all you need.

How to identify and confirm an Uptrend

Guide 1: Based on the trend’s top and bottom

Here’s what you learned about Uptrend. When the price goes up, connect the two bottoms together with a trendline => You have an Uptrend.

How to identify and confirm an Uptrend
How to identify and confirm an Uptrend

An example on November 28 in Olymp Trade with USD/JPY pair.

USD/JPY pair in an uptrend

These are ideal situations for you to confirm an Uptrend. But it’s not always like that. An uptrend is formed when the price increases continuously. It creates the next bottoms and tops that are higher than the previous ones.

Confirm an Uptrend based on its tops and bottoms

For example,

  • 3rd bottom is higher than the 1st bottom. The 5th bottom is higher than the 3rd one.
  • 4th top is higher than the 2nd top. The 6th top is higher than the 4th.

So sometimes there is no trendline to draw Uptrend at all. If the trend follows the rules above, it is an Uptrend. And the rule of buy orders in Olymp Trade is always to Confirm Uptrend > Find Signal > Open UP.

Guide 2: The price breaks resistance and rises sharply

This is a very common case in Olymp Trade. The price goes sideways for a long time in a certain Sideways channel. After that, it breaks out and passes the resistance level. Then increases strongly to create an Uptrend.

The price breaks the resistance level and increases sharply, which confirms an Uptrend

Usually in this case when the price increases quickly, you can open UP when Bullish Pinbar candlesticks appear.

How an Uptrend ends

How do we know if an Uptrend is about to end? It’s very simple. When the rules of Uptrend are broken => an Uptrend may end. However, it is just a possibility.

In details,

– Price plummets and breaks out the previous bottom. It can create a bottom that is lower than the previous one => Breaking Uptrend. This may just be a deep market correction. To be sure, you should stop trading.

For example, like this USD/JPY pair, when the price drops and creates a new lower bottom than the old one. The 2nd bottom is lower than the 1st => Wait for the market to rise again and confirm a new Uptrend. It means you should wait for the new top to surpass the old one. If this does not happen => Do nothing.

How an Uptrend ends

Signals to open bullish for you

You need a reason to enter a trade? A signal that is strong enough to convince you to use your money in an uptrend market? I will give some signals that I usually use as a reason for opening orders.

Signal 1: Test candlesticks

In an Uptrend, price increases continuously and surpasses resistance levels. The old resistance becomes a new support. And when the price tests these support levels, it creates signals to trade. This is called Test candlestick.

Signals to trade in Olymp Trade

Test candlesticks can be retracement candlesticks, Bullish Pinbar candles (Pullback type), Doji candlesticks, etc. All are used to explain that the price stops at the test zone (support) and bounces back > it creates reliable candlesticks > enter an UP trade > bet the next candlestick green.

Signal 2: Reversal candlestick patterns

Reversal candlestick patterns from decreasing to increasing in an uptrend are called Bullish continuation candlestick patterns.

Signals to trade in Olymp Trade

In an uptrend, the price sometimes decreases to gain more force for further bullish movements. It forms reversal candlesticks such as Bullish Pin Bar, Morning Star, Bullish Engulfing, etc. This is a sign that the correction has ended. The uptrend will continue>  Open UP.

Review EUR/USD entry points on November 28

5 orders: 3 wins and 2 losses

Review EUR/USD entry points on November 28

1st: Price broke the resistance and kept going up. The signal was a retracement test candlestick => open an Up (bet the next candle green) => Win

Entry point example in Olymp Trade

2nd: Doji Test candlestick retested the support zone => buy an UP => Win.

3rd: Pinbar (Pullback test candlestick) =>enter an UP => Lose.

The price has shown reversal signals. The price has dropped beyond the old bottom => A new lower bottom could be formed => It was likely that the uptrend was about to break => Wait for confirmation (Don’t open orders).

Uptrend was broken

Price broke at (1). So I stopped entering UP. The price continued to break at (2), which confirmed a reversal => Uptrend changed to Downtrend => Open DOWN.

4th: Downtrend + Pullback candlestick tested the resistance level => open a DOWN => WIN.

5th: Basically, the reason for order 5 is similar to order 4. But Lose.

Review AUD/USD entry points on December 2

5 orders: 3 wins – 1 draw – 1 lose.

Review AUD/USD entry points on December 2

Basically, Uptrend is formed when the price breaks a strong resistance. Signals are retracement or pullback candlesticks.

The option that should be noticed is order 3. Long-legged Doji + Uptrend = Bet the next candlestick green. The candlestick turned out to be green. But it was still a breakeven.

Olymp Trade T.S trading strategy

Step 1: Select currency pairs (trading assets) in Olymp Trade

Let’s start with a pair that you think it will have an upcoming trend. I choose 3 currency pairs namely AUD/USD, USD/JPY and EUR/USD.

Select trading assets in Olymp Trade

Step 2: Japanese 5-minute candlestick chart and the expiration time is 5 minutes.

The longer the time, the more effective the candlestick or candlestick pattern. You can choose the Japanese candlestick chart from 10 to 30 minutes or even more. But absolutely, never use a 1-minute candlestick chart. It makes no sense at all.

Select candlestick chart and the expiration time in Olymp Trade

The expiration time = the time frame of a candlestick = 5 minutes. My Olymp Trade trading method is to follow candlesticks colors. Please read the detailed guide on how to trade with candlesticks colors here. Guide to trade with Candlesticks color in Olymp Trade

Step 3: Enter a trade

If you accept Olymp Trade as a probability game, then you must definitely enter a trade where there is the highest winning chance.

Trend + Signal is not difficult to learn. The difficulty is to wait patiently for it to happen and open an order. If there is a trend, wait. If not, turn off your desktop. Don’t waste time when your chances of winning are not high.

What is this? This is a Downtrend. Right at this moment, I am waiting.

Select candlestick chart and the expiration time in Olymp Trade
Select candlestick chart and the expiration time in Olymp Trade

OK! Let’s end here.

Next time, I will return to the series: How to make money in Olymp Trade. There are still many things that we need to share. Why do I always trade 5 orders? Why do you need to know how to manage capital if you really want to really make money?

Leave a comment if you have a better signal with higher winning rates. We will discuss it together. Thank you for your time.

العربية 简体中文 हिन्दी Indonesia Melayu فارسی Português Русский Español ไทย Türkçe Tiếng Việt

How to make money in Olymp Trade: Uptrend and entry signals
4.8 (96%) 128 reviews

LEAVE A REPLY

Please enter your comment!
Please enter your name here