Trade Explanation 151
● Points to Win
・There should be clear price action
Not a choppy, range-bound market. It’s preferable to have decisive moves up and down. Sell at higher levels and buy at lower levels. Aim to sell after the price rises and buy after it falls.
・Confirm strong buying candles near the zone or after breaking the zone(In case of buying)
If buying, confirm a bottoming of the decline or a top when selling. For example, long lower shadow pin bars or doji candles. When the reverse trend is strong, it is safer to take a small pause.
・Smaller stop loss
When buying, target a distance not far below the lower wick of the candle before the move, so the stop loss becomes small. Or exit early if the trade goes against you.
For other basic rules and how to use indicators, please refer to the course. Thank you.