In todays class we went over an entry strategy we call a bar breakout. Taking out of our book
It’s a continuation pattern
Not in relationships to here we disagree with buying any buy signal . And using the current conditions to prove a system that’s works isolated! Never trade isolated signals
The bar breakout
A strong move up or dwn in a trend that closed high for a bull move or low for a bear move
Take the high n low of the body ( no wicks)
Measure the 25% of that body
If price if the new forming candle stays about that 25% market you can buy the break of the pervious high or low of the measure the projected move
So here it’ll look like this
Enter when price breaks the projected high with no more than 25% wick retrace
Sl the 25%
Tp 50% of the projected move
It’s a continuation pattern
Not in relationships to here we disagree with buying any buy signal . And using the current conditions to prove a system that’s works isolated! Never trade isolated signals
The bar breakout
A strong move up or dwn in a trend that closed high for a bull move or low for a bear move
Take the high n low of the body ( no wicks)
Measure the 25% of that body
If price if the new forming candle stays about that 25% market you can buy the break of the pervious high or low of the measure the projected move
So here it’ll look like this
Enter when price breaks the projected high with no more than 25% wick retrace
Sl the 25%
Tp 50% of the projected move
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.