Joined Nov 2019
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Status: Failure Make Success
|460 Posts
BREAKOUT
Breakout is a movement action from price.
This movement act as liquidity search from base to base.
A base usually full with high liquidity but low volatility as we can see on chart,
while breakout is low liquidity but high volatility.
An action of breakout viewed when price break high or low and closed with body
above or below shadow from previous bar/cs.
It is called Body Break Shadow situation usually called Engulfing.
Simply viewed on chart. A breakout of support or resistance telling that price tend
to move higher or lower from previous level in seeking liquidity.
The breakout also creates 4 types of SND that is:
DBD - Drop Base Drop
RBR - Rally Base Rally
RBD - rally Base Drop
BDR - Drop Base Rally
However, how to choose the useful SND is up to own discretion.
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Example below the useful of above information on chart :
I am really amazed by the simplicity yet heavyweight contents of the thread. It is really a sweet treat to anyone's trading journey. Thank you so much for sharing.
WoooWWW !!!! I am really amazed by the simplicity yet heavyweight contents of the thread. It is really a sweet treat to anyone's trading journey. Thank you so much for sharing.
Ignored
Wish you always success with your trade.
Happy new year
Joined Nov 2019
|
Status: Failure Make Success
|460 Posts
After a breakout , identify a potential RBS or SBR.
Wait for the 1st retest, this retest will confirmed either it was a role reversal or otherwise it will just ignore.
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The entry is on 2nd retest that will be good for buy or sell after confirmation on 1st retest.
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Target for CSR 100 is 100 pips or a resistance for buy & support for sell position.
Joined Nov 2019
|
Status: Failure Make Success
|460 Posts
THE ZONE
A zone created by price usually because the movement between last swing low or high with 1st retest
Example below is A is the last swing low that is support level been break by price, while B is the 1st retest after the breakout.
It's create a zone called SBR or RBS zone or mayble called flip. Within the zone, entry can be execute.
I prefer first & 2nd level.
Joined Nov 2019
|
Status: Failure Make Success
|460 Posts
ZOOM IN
Others may called top down analysis or etc.
Zoom in from higher TF to lower TF are useful in making a decision.
At least just do it once a day in particular pairs as an activity to seek for current situation.