This method will save your time to determine where are the powerful S&R levels for any instrument. It can be used for the continuous chart or the monthly chart. It will also help you to entry, set the stop loss and profit target levels, even if you are using other methods such as Elliott Wave Theory, Harmonic Pattern, Market Geometry (the pitchfork), Demand &...
TF: 5 MINS
TREND: CON. NEG
HTF TREND: CON. NEG
SPRTND BREAK IN LTF: NA
WAIT CONDITION EXECUTION: 13:00
REASONS: BLUE-YELLOW IN 5 MINS AS WELL AS 15 MINS.
RED SPIKE IN BOTH 5 MINS AND 15 MINS.
Breakout scalps are an affordable way to trade futures, as stops are small and profits can be fast. Below are both the bullish and bearish breakout scalping plans for the Monday session in September WTI crude oil futures:
Bullish Breakout: A buy entry from $69.25 is a solid entry to the long. With a profit target of 8-12 ticks and max 12 tick stop loss, this...