This is not the core trade that I'm focusing on in this thread but nonetheless, it is a trade that I placed based on a double-bottom.
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DislikedPrice broke the previous high, moved up, and retraced. We entered on a bullish candle after the retrace.Ignored
DislikedHi jdcompute, I like your thread and hope to learn something out of it, but I have some doubts. Sorry I'm new, spare me if some questions sound silly.
I am scratching my head on this, the trend is down, there was a previous top on 26th Dec, and 28th Dec it tested the top again and came down forming a double top. Why will you enter a long at a price heading back to the trend?
Thanks jdcompute!Ignored
DislikedThanks for your prompt reply, jdcompute. Btw some more questions with regards to your TP.
@1, Do you take profit at the small yellow rectangle? If no, what target are you looking at?
@2, The price went down to your entry point near the bottom at the green circle, will you be closing the trade earlier than your stop loss if it break thru this new support line? Or will you wait for a retracement up? If so, is it advisable to long since its the same as your entry point?
Thanks alot!Ignored