CCW Setup

Chart Champions Wizardry, better known as (CCW Setup) was put together to form a trading strategy based on criteria.

CCW setups consist of Fibonacci levels, that are complemented with at least two additional factors of confluence.

The ideal entry for a CCW is a laddering strategy where the original position size is split into four equal portions, ie: 25%.

A stop loss should be placed just below the low of where the Fibonacci Retracement was pulled.

As the trade moves into profit you should look to take profits by laddering out of the trade and by the time you hit take profit level 2, you should move your stop loss to break even at the very least.

This tutorial will show the required levels to validate a CCW setup and how you can actually trade them on your charts.

The above is summary is a very brief introduction to this setup, be sure to study this tutorial thoroughly before you apply a CCW.

Setups like the CCW are great for traders who often find themselves overwhelmed with emotion before executing a trade.

You can apply such strategies for practising a more robotic style of trading as you master your emotions.

Whether you do this with a small position size or a paper trader, practice this strategy by committing to executing when each criterion is met.

Follow it up by recording the results and adding it to your trading journal.

Time Stamps

5:01 – BAT Previous COTW (DO NOT TRADE THIS)

16:18 – STOP LOSSES & TAKE PROFIT

24:43 – CCW

• Really good system to remove emotions, recommended for beginners
• 0172, 0.28, 0.66, 0.616, 0.706, 0.796, -0.234, -0.616, -0.99
• put a 25% bid on each fib – 0.66, 0.616, 0.706, 0.796, SL is above 1.0172, and TPs are 0.28, -0.234, -0.616, -0.99
• if all the orders are not hit you cancel them after TP1 is hit

43:17 – EXAMPLES & FIBS

• With knowledge and confluence, you have to adjust SL and TPs

50:29 – Q&A 

• Daniel’s biggest confluences are Fibs, MAs, volume and a bit of EW theory