Hi guys, currrently I have lost 10% of my investment in just two days.
I have blindly set buy order limit in support area, it hit my support area and also my stop loss 👀😅
Lessons learned.
I have learn and do the following:
1. Identifying the trend in daily chart
2. Identifying Area of Value via support, resistance or key level.
I have missed the last step: Identifying the trigger to buy.
Recently I came across the following article: Price Action Entry Rules: How to ‘Enter' at the Break
Well you shold google it, I can't attach the link 😅
It have a great advice on how to timing your trade.
I recommend you to read the article.
Now this idea is an example of me practicing the rules.
I have blindly set buy order limit in support area, it hit my support area and also my stop loss 👀😅
Lessons learned.
I have learn and do the following:
1. Identifying the trend in daily chart
2. Identifying Area of Value via support, resistance or key level.
I have missed the last step: Identifying the trigger to buy.
Recently I came across the following article: Price Action Entry Rules: How to ‘Enter' at the Break
Well you shold google it, I can't attach the link 😅
It have a great advice on how to timing your trade.
I recommend you to read the article.
Now this idea is an example of me practicing the rules.
Trade active
Comment:
The pin bar confirmation should be slightly above the high of the pin bar
Comment:
Well it seems like it will hit the stop loss once again? 😂
Trade closed: stop reached:
Lessons learned:
1. I should set my stop buy order slightly above the high of the pin bar
2. I should set my target to previous resistance
3. I should set my stop loss to slightly below the low of the pin bar
Wokayy
1. I should set my stop buy order slightly above the high of the pin bar
2. I should set my target to previous resistance
3. I should set my stop loss to slightly below the low of the pin bar
Wokayy
