As you can see, I was 'tagged out' by my stop loss. It's all a part of trading, but it would be better to be able to manage your risk-reward ratio. On the chart, I've noted important keys to keeping in mind. I can't tell you where to place your SL, but I can tell you how to minimize the risks of being tagged out.
peace for now peeps.✌
A clear retest has been spotted at XAUUSD, making a break to the upside. Retests and breakouts are usually represented in this sort of way, familiarizing yourself with this pattern, and this would come to great use in your forex journey. You might confuse yourself from time to time and mistake a fakeout for a breakout, but that's the point of fore, am I right?
Using the 'trend in trend' method, you can see it hitting the support and resistance in a sort of zig-zag motion (the market is not perfect). there's a chance it might go hit the support again, so SL is below the trendline. Overall, we looking at a bullish setup. CONFIRM WITH YOUR OWN ANALYSIS. Until next time...Wubba Lubba Dub-Dub
Here are some chart patterns caught on the EURUSD, as you can see, your pattern doesn't have to be perfect. This may scare traders since most would be looking for perfect patterns. Those don't exist, adapt and believe in your knowledge and strategy. These patterns are the flag, corrective trend, and wedge. It's recommended that you open a trade when a 'breakout'...
We waiting on that small retest, before jumping in. Our first TP would be that horizontal line below. Our SL should be placed slightly at the beginning of the 'trend'. It's not much but every small thing counts. I was told to be more 'descriptive' but I don't see the humour in it. I believe trading should be something we enjoy in the way we want it. Adding a...
