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How Ya All Guys Liking This ApeCoin Futures Trade!!!!!!Padawans, How are you Liking this Ape coin Trade Futures Trade! Your Lightsabers must be tired. Over the last few weeks we have been posting numerous successful trades and persons message to ask how do i do it. Well these last few weeks I have been perfecting trendline trading not really a novel strategy but especially for futures it is essential to get the entry right. I essentially look for breakdowns of the trendline and then wait for consolidation and then THEY produce a new trendlines. I update all my trades telling you to enter or to re enter based on this. Now this week we had two failed trades, 1 was a scalp and 1 was Snx and a Forex Pairing. Snx was human error, ii actually gave the signal at the resistance to upper band of the trendline while i should have waited for the retest and then well bitcoin crashed. The most interesting one however was the forex pairing and it lead me to realize that I need to do my trendline analysis on large time frames for forex pairings. On crypto you can get away with using the 15 minute chart but in all my test in forex you are 50% likely to get wrecked. This may be a yawn, i already knew that moment for some of you but we are developing as we go. Also lastly, here we were using multiple confirmations because there was also price level support which was $10.58 cents and that support has not broken not once in the last three days,.
by Skywalker-thelastjedi
1
Break support/Resistance , give confirmation?Break support/Resistance , give confirmation? - We usually trade base on S/R to find the entry point, exit or to predict the trend. - One of an effective and simple way in trading is to trade when price breakout from a S/R level - However, to identify an area or a point of good S/R in trading is mostly based on trading style, knowledge and trading experiences from each individual. Today I would like to talk about Breakout in trading. When it is breakout, when it is failed breakout. Before talking about breakout, we need to identify price closes above a S/R level or below a S/R level . Examine the below chart: However, in the chart we also find the situations that market didn't follow the mentioned rule. In the above case, if we carefully examine, we would see a pair of candle close below a resistance zone and make price go down. And price is still following rule of breakout and give confirmation as usual. There are a lot of S/R appear in trading market. So, we have to choose by our own which is the S/R zone to play in each situation depending on our own experiences. No situation is exactly the same with each other! In the same above situation, at the same S/R level that we identified and used before, prices move differently (at that points, mostly our stoploss is hunted) Here, experienced traders would easily recognize failed breakout based on trend analysis, or the way prices breaks, or at least don't follow the breakout. We can analyze in a simple way as follow: And then price continues its trend I have presented some simple cases of successful breakout, failed breakout or fake breakout in the above chart. I would like to receive the contributions from the community to learn from each other. Noone is right or wrong all the time. Every wrong or right cases have its own price. Hope that people would not keep silence instread of telling what you know or learned. Nothing has its own value unless it spent some prices. I hope that people would give a way their knowledge, don't try to hide for your own if not we are all failed to this market. More information www.investopedia.com
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by DatTong
14