Hi Traders!
The market seems to move in a daily Range.
However, the market was at the daily Support and
it even broke the daily Trendline.
Now, the market is pulling back and it makes a bullish Flag Pattern.
This pattern gives buyers, who didn't bought yet, the oppurtunity to enter.
It is possible to directly enter at the Break of the Flag, but then
you had to put your SL below the last Low --> which is far away.
That's why you could enter in another way:
Wait for the Break of the last High, then wait for the Retest.
When it comes back from - or even if it is still retesting -
you can buy from there. The SL is still below the Low, but it is much closer.
And if the SL is closer, we have a better RTR ratio!
Trade at your own risk!
Thanks and successful Trading :-)!
PS: If you can't follow, then comment below, so we can illustrate it closer and you potentially learn something new!
The market seems to move in a daily Range.
However, the market was at the daily Support and
it even broke the daily Trendline.
Now, the market is pulling back and it makes a bullish Flag Pattern.
This pattern gives buyers, who didn't bought yet, the oppurtunity to enter.
It is possible to directly enter at the Break of the Flag, but then
you had to put your SL below the last Low --> which is far away.
That's why you could enter in another way:
Wait for the Break of the last High, then wait for the Retest.
When it comes back from - or even if it is still retesting -
you can buy from there. The SL is still below the Low, but it is much closer.
And if the SL is closer, we have a better RTR ratio!
Trade at your own risk!
Thanks and successful Trading :-)!
PS: If you can't follow, then comment below, so we can illustrate it closer and you potentially learn something new!
