If this is an ending diagonal then it will break to the up side of this structure. If it breaks out of the structure to the down side and consolidate i will be looking for sell set up.
Trade with care.
Comment
⋅
join.me/FREEtvwebinar link for the free webinar Tomorrow 27/11/15, 9 am New York time. We will look at Advance patterns. Why they work and why they don't. How understanding wave structure will show you the flaws in advance patterns.
HI Anil, I've been following you for some time, mostly just for confirmation bias :) .I'm not really into breakout trading myself, but wanted to ask you about it as I may need to include it into my trade style.
On a breakout do you take the trade as soon as the range is broken - so essentially a stop buy or stop sell just outside the range - the trendline or the price level? Or, do you watch the break, then wait for a retrace to enter? If you wait for a retrace, what are you looking for roughly, and on what time frame generally? For example for this 60min trade
RabeelSabar
⋅
in my humble opinion it is going to break the structure and go down for a bit and then a large move towards upside in next few days,,,,so selling at this stage is not a good idea
Future_Capital_Ltd
⋅
Cazzie
⋅
These ending Diagonal's take ages to end...haha
Moving really low Anil, I have it alarmed so when structure changes (consolidation) I will at least be aware of the change and can go back and view the chart.
FluidicFX
⋅
Good catch!
anilmangal
⋅
Hi Guys for all those who missed my webinars you can check them on youtube.The link is above in the update.
On a breakout do you take the trade as soon as the range is broken - so essentially a stop buy or stop sell just outside the range - the trendline or the price level? Or, do you watch the break, then wait for a retrace to enter? If you wait for a retrace, what are you looking for roughly, and on what time frame generally? For example for this 60min trade