Like that your trading experience is varied from learning.
Whenever we learn something new, we have a question
How/where can I implement it?
So, now we are going to discuss How to place the entry and Stop loss in a .
I hope this will help you to groom yourself to achieve your dream of becoming a master trader.
ADD ON: There must be an impulse before placing a trade on trend continuation pattern.
In above graph, signals moving in an up-trend. Let see how to place a trade in that?
This trading strategy has some condition to fulfil
Impulse must be on left side of your chart either bullish/bearish.
Entry point should before the breakout.
Place your buy setup at before jump off and stop loss must be at the previous low point.
This strategy based on a breakout.
In case the signals broke the resistance trend and went far away means, wait for resistance turn into support. This known as a throwback.
Once it occurred place your trade without any hesitate, set a mark for Take profit at previous high and stop loss at previous low next to .
If you find useful, hit like and comment
follow our updates for more profitable trades.
Funny thing i was staring this idea, price was 1.184, good mood and all , next thing 1.77 .. yeah .
Another lesson learned.