Trade Commentary 118
● Points to win
First, in validation modelook at everything around the zone, after breaking the zone, and after you have made a rebound. Basically we don't use much discretion, but if you want to avoid losses or level up, try to be mindful of the following.
・Market has clear highs and lows
It's better to have a market with clear movement, not a muddled, range-bound one. Sell at higher levels, buy at lower levels. Aim to sell after a rise and buy after a drop.
・Confirm a strong bullish candle near the zone or after breaking the zone(for buying)
If buying, confirm a reversal to the downside is stopped, and if selling, confirm an upside stop. For example, a long lower wick on a pin bar or a doji. Especially when the counter-trend is strong, taking a small pause is safer.
・Small stop losses
When buying, aim for a distance not far below the lower wick of the candle just before the target level, so the stop loss is small. Or if price moves against you, you may exit early.
※Win rate is only the result of optimization and does not guarantee future market conditions, please note.
For other basic rules and how to use indicators, please refer to the course. Thank you.