Looking to take a Long if the Price should move as shown with the green arrow:
1. Price moves under S/R level (red line)
2. Price reclaims it
3. Long on retest of it
Target: S/R level (yellow level)
S-L: Under recent SwingLow
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My General rules and approach regarding trading:
- I mark levels that i find interesting and set up requirements what price needs to do at these levels so i feel comfortable to take the trade
- What price does till its reaches my levels doenst matter to me, even if it takes days, weeks or even months or never at all (Alarms are set and thats it)
- For my entries i often use Strategies on smaller time frames and to increase my chances and profitability (Breaks in LTF-MS, HS etc.)
Dont forget:
- Watch your Risk management
- DYOR (Do-Your-Own-Research)
- This information / article is only for educational purporses and not a recommendation to buy or sell. I'm not a Financial Advisor.
Thanks for reading!
trader_se
1. Price moves under S/R level (red line)
2. Price reclaims it
3. Long on retest of it
Target: S/R level (yellow level)
S-L: Under recent SwingLow
////////////
My General rules and approach regarding trading:
- I mark levels that i find interesting and set up requirements what price needs to do at these levels so i feel comfortable to take the trade
- What price does till its reaches my levels doenst matter to me, even if it takes days, weeks or even months or never at all (Alarms are set and thats it)
- For my entries i often use Strategies on smaller time frames and to increase my chances and profitability (Breaks in LTF-MS, HS etc.)
Dont forget:
- Watch your Risk management
- DYOR (Do-Your-Own-Research)
- This information / article is only for educational purporses and not a recommendation to buy or sell. I'm not a Financial Advisor.
Thanks for reading!
trader_se
Comment:
Buy on retest of level (red line)
Trade active
Trade closed: stop reached
Comment:
Too early in without the actual confirmation of another candle open and close under the level
Comment:
Will re- enter again if price should move again over the level (red- line) Same target and Stop- Loss
Trade active:
re- entered
Trade closed manually:
Made a mistake here - should have waited for a break in MS before re-entering