As with all great trades, we require a trading plan. This is a perfect example of how to analyse, execute and manage your trade. See linked chart for the initial trade idea.
See below for a step by step guide on how we entered this trade and what we looked for.
Goodluck and trade safe!
Edge Execution
Trading is a numbers game, and markets are based on the mathematics of the traders equation. However, understanding this alone will not guarantee profits. The ability to apply and conform to the math of the current market context is what leads to consistent profits. Beginners often have a misconecption that they need to know what is going to...
This will be a relatively shorter post and is a follow up on Part 1 (phew.... Good for me and you LOL)
So, i got this situation where there was a breakout on the 4 hour, mark with a dash line on the 1 hour.
The first thing that came to my mind will be:
A) I want to long
B) I will not short even if there is a reversal (Unless 7700 is broken)
C) Where will i long?...
