TAKING PROFIT: trading trend pattern sometimes is not that easy because sometimes our targets meets some hurdle on the way which make us to exit the trade with fear before our target and we end up regretting it because the market finally gets to our target. But believe me incase whereby you've a sell order in a descending channel you don't have to panic in such situations because any delay and hurdle faced on the way down is a blessing I mean the more it delays the more low is going to touch the trend which is more profit while if you've a buy order in descending channel the best time to exit is when the market start struggling near the up part of the trend because sometimes the market turn back from there(which will make some people panic and take less profit when the market is already going down so is better you to exit close to the trend or at retest/double top) and retest on the up part of the trend forming double top and start reversing. Vice versa with ascending trendline.
ENTRY: most people form their trend with 3+ touches without breaking but I prefer mine with 2 touch at one part and 1 touch at the the other part(I mean highest or lowest point between the part with two touch). I form the trend from the part that held twice then I clone it and move to the part with 1 touch once capped at the point with 1 touch I make an entry.to the other part. For me once market have touched any part of trend 3x it can't longer be trusted I've to be very sure it holds before making an entry and from this point 5 touches is the maximum I can trust. I don't know about other pairs I trade only Gold.
SPOTTING FAKE BREAKOUT:
Combining trend and supply and demand is best strategy you might want to try that will always help you to spot fake break out because most times the market break out of trend and hit zone and cap back at trend and sometimes market break out of zone and hit trend and cap back at zone. This help you spot fake break out to avoid trading fake breakouts.
ENTRY: most people form their trend with 3+ touches without breaking but I prefer mine with 2 touch at one part and 1 touch at the the other part(I mean highest or lowest point between the part with two touch). I form the trend from the part that held twice then I clone it and move to the part with 1 touch once capped at the point with 1 touch I make an entry.to the other part. For me once market have touched any part of trend 3x it can't longer be trusted I've to be very sure it holds before making an entry and from this point 5 touches is the maximum I can trust. I don't know about other pairs I trade only Gold.
SPOTTING FAKE BREAKOUT:
Combining trend and supply and demand is best strategy you might want to try that will always help you to spot fake break out because most times the market break out of trend and hit zone and cap back at trend and sometimes market break out of zone and hit trend and cap back at zone. This help you spot fake break out to avoid trading fake breakouts.