ETHBIDR - Going Long (15/03/2021)
Updated
Hi guys, currrently I have lost 10% of my investment in just two days.
I have blindly set buy order limit in support area, it hit my support area and also my stop loss 👀😅
Lessons learned.
I have learn and do the following:
1. Identifying the trend in daily chart
2. Identifying Area of Value via support, resistance or key level.
I have missed the last step: Identifying the trigger to buy.
Recently I came across the following article: Price Action Entry Rules: How to ‘Enter' at the Break
Well you shold google it, I can't attach the link 😅
It have a great advice on how to timing your trade.
I recommend you to read the article.
Now this idea is an example of me practicing the rules.
I have blindly set buy order limit in support area, it hit my support area and also my stop loss 👀😅
Lessons learned.
I have learn and do the following:
1. Identifying the trend in daily chart
2. Identifying Area of Value via support, resistance or key level.
I have missed the last step: Identifying the trigger to buy.
Recently I came across the following article: Price Action Entry Rules: How to ‘Enter' at the Break
Well you shold google it, I can't attach the link 😅
It have a great advice on how to timing your trade.
I recommend you to read the article.
Now this idea is an example of me practicing the rules.
Trade active
Comment
The pin bar confirmation should be slightly above the high of the pin barComment
Well it seems like it will hit the stop loss once again? 😂Trade closed: stop reached
Lessons learned:1. I should set my stop buy order slightly above the high of the pin bar
2. I should set my target to previous resistance
3. I should set my stop loss to slightly below the low of the pin bar
Wokayy
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