TL breakout + retest - page 48
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EU h1 triangle with the bottom support TL tested for the 4th time
GU h1
Pink is the SR zone
Black is the TL
Red is the -ve divergence macd
EU h1 12/06/09
EU GU today should have provide you with sufficient pips
hi, mphpopular, it seems your breakout TL + retest is very effective, why you abandoned it and turn out to trading breakout only? in my opinion, breakout + retest seems more reliable. what is your view , please? thank you
EU GU today should have provide you with sufficient pips
thanks a lot for the light, retest is much better.
I didn't trade the breakout only. I try to fine tune my trading by trade the breakout such as H1 or H4 in a lower TF 15m with the condition we are in the major trend, and I find it quite efficient.
Anyway, if you are comparing trade the "breakout" or "retest", I will definitely encourage you go for "retest", since it can enable you to take every trade with lower risk and higher winning percentage.
Btw, I now try to setup this thread as a thread to achieve 2 thing:
1) education on drawing TL, recognizing SR zone, candlestick and etc.
2) provide the direction / big picture of some currency pair.
Wish you tons of pips,
MPHthanks a lot for the light, retest is much better.
I think I mistype something, the higher win ratio is the magical ma. But "retest" method is lower risk and much easier as i concern. Sorry for the misleading.
hi, mphpopular, it seems your breakout TL + retest is very effective, why you abandoned it and turn out to trading breakout only? in my opinion, breakout + retest seems more reliable. what is your view , please? thank you
I didn't trade the breakout only. I try to fine tune my trading by trade the breakout such as H1 or H4 in a lower TF 15m with the condition we are in the major trend, and I find it quite efficient.
Anyway, if you are comparing trade the "breakout" or "retest", I will definitely encourage you go for "retest", since it can enable you to take every trade with lower risk.
Btw, I now try to setup this thread as a thread to achieve 2 thing:
1) education on drawing TL, recognizing SR zone, candlestick and etc.
2) provide the direction / big picture of some currency pair.
Wish you tons of pips,
MPH
EU:
Weekly :
Uncertainty as the shooting star last week didn't followed by a bear candle this week. Hence, the bear signal by the shooting star shall be aborted.
H4 :
Range trading inside the triangle (bold line). No clear direction until any breakout occurs.
H1 :
Range trading btw the Support and Resistance.
Gu :
Weekly -
Last week shooting star shall be aborted due to not followed by a bear candle.
H4 -
A major SUPPORT TL still holding.