I been researching for hours and hours on google trying to figur out when it is right time to make a trade because on google it tells me many things about double top that can be trap move??? I am scared that if i do it wrong i will mess up my trades?? I know google tells me that when price bounce off the support level, it is a sell. BUT i also saw that it broke the support and reversed to induce buyers to take a trade only for it to reverse against them?? Is this true?? Please educate me because babypips and google arent very informative against big players in this game.
Comment
⋅
price appears to be flirting around support level where it may reverse and drop!
I've been watching carefully on lower time frames how price action breaks through key structure, support and resistance areas. I found that there is usually a retreat from the area, then price does a sudden punch through. In other words only uncommonly I find that price remains at the key price point before the bust through.
lyle1098
⋅
In my opinion trading reversals isn't a good idea as if everyone tries to pick the top of the uptrend and decides to go short then the banks most likely will just take the pair long. The pull back and retracement strategy is much better in my opinion
gradinzuzi99
⋅
You need to do some back testing and create a trade plan. If you have good risk management it doesn't matter if the trade is wrong. Trading is a long game, like building a house no one trade should make or break your account.
Jam_nbz
⋅
Be patient. Wait and see what happens. Do not enter without any confirmation and check lower tf's for better entries. Consider price action before entring any trade.
Good luck.
idontlikeyou
⋅
@Jam_nbz, Okay i will give that a try. What is tf if i may ask? Sounds like you saying lower the fvck's? Sorry if im incorrect... Thanks brother
Jam_nbz
⋅
@idontlikeyou, hahah, i was thinking the same, no worries 😂.
Tf means Timeframe.