RIMC, explained
In this thread, lies the BIGGEST TRADING secret!
I will prove that to you. THREAD 🧵
In this thread, lies the BIGGEST TRADING secret!
I will prove that to you. THREAD 🧵
1/ We all ignored the most important parts of trading when we were learning the forex market, we were taught market moves either upward, downward or sidewards. The BIG question is do you know how to capitalize on it.
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2/ In a bullish market we more interested in buys right and same for bearish market where we focused on sells right, then what would you DO in a side movement ?
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3/ A side movement is considered a RANGE, in this thread I will show you how you can capitalize on RANGE and that what the RIMC concept is all about.
4/ A ranging market, also known as a sideways or consolidating market, is a market condition in which the price of a financial instrument, such as a stock, currency pair, or commodity, moves within a relatively narrow range with no clear upward or downward trend. In a ranging market:
5/ Horizontal Movement: Prices tend to move horizontally or sideways rather than in a clear, sustained uptrend or downtrend.
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6/ Support and Resistance: Price levels of support (the lower boundary of the range) and resistance (the upper boundary of the range) are established. These levels often act as barriers that the price repeatedly tests but does not significantly breach.
7/ Volatility Decreases: Volatility, or the magnitude of price swings, is typically lower during ranging markets compared to trending markets.
8/ Consolidation: Traders and investors may perceive the market as consolidating or taking a breather after a previous trend, and they often anticipate a breakout in one direction once the range is broken.
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9/ what then is RIMC concept? It simply means Range Initiation Mitigation Continuation, the concept is fully based off ranges and also certain candlestick patterns.
10/ For candlestick patterns we want to focus on Engulfing, Inside Bars, marabozu. The reason for this is cause these candlestick patterns represent momentum when it appears on charts especially at critical areas such as Support or Resistance
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11/ in the image below, is the line illustration of RIMC, this concept won’t even take 20 minutes of your time, the idea is to identify this concept following current or overall market trend.
12/ let’s have some major chart examples of major RIMC and also note this strategy isn’t 100% and it’s not the holy grail. But the win rate is above 70% which is very fair. We also use Gann box focusing on 30%, 50%, & 70% for actual range mitigation.
13/ Sell examples : first thing to note is market trend
See image below 👇
See image below 👇
14/ in the image above we see that the trend became bearish, so with this we will be more focused on shorts than longs.
15/ where then is our RIMC after understanding the market TREND? In the image below, the range is marked with yellow and within this range we do see a momentum candlestick pattern which in this example is the bearish engulfing ( known for short as our SELLING OB ). #lessismore
16/ the images below details the sell example || focus also on the 30%, 50% & 70% of that range, the most extreme is the 70% and the earliest entry is 30%. After range comes the initiation .
17/ for the buy example see images below, the concept is straight forward, we see the range, then intimation which confirms the direction after the break out from range, price comes into the mitigating zone, taps then rejects and continues the uptrend.
To understand the FULL concept: kindly watch this video
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