Alex301087
09-16-2015, 08:18 PM
Folks, lately I have been trying to exchange breakout method and it sounds very powerful, but one problem is that all major breakout stems out of a ranging market, and throughout ranging market, it swing so much that my place would have been hitting cut reduction point.
I am trying innovative strategy, which suggests open a little place , when breakout is confirm, open some more, so even it's bleeding because of market swing, reduction would continue to be manageable.
What's your method then? Wish to boost my method just a bit, thanks.
Txeox1978
12-09-2016, 10:29 PM
Hello, I just want to share about the 2015 BO issue discussion, Now its December 2016, may be its not too late. According to your picture posted with the red arrows on the top and bottom. I usually trade during break out. Actually the red upper arrow is your resistance area ideal for sell entry along with also the red bottom arrow is the support region ideal for buy entry, what is wrong with your entry is the time. Your entry has to be inside the SUPPORT RESISTANCE region. If the price move outside its SR degree. When price BO do not trade yet await the candle to complete the time so you will understand it if its a BO or false break. It doesn't matter what type of BO as long as it is BO it'll always move to exactly the exact same principle, of course usually fundamental split strong SR around 3 to 4 degrees. When it is BO, your entry must be in another candle throughout retracement, until price BO it will first create modest candles such as pinbar, pipit and other RP candle, your tp has to be in another support or watertight region, bcuz its area where price bounce or split. . But check out the trend in the greater time, if the market is going up locate for extended entry, if down seek for short entry.