Edukacja
How to trade a breakout successfully?
We shall see the chart of century text & ind in the 2-hour time frame.
The script had resistance at around 820 where a double top pattern had formed.
The third time when the share price approached this resistance trendline a strong green candle was formed breaking out of the resistance.
This green candle denotes a breakout. Risky traders usually enter a trade when this breakout occurs.
The breakout can be further confirmed by the resistance trendline switching its role into a support line now.
This is where most risk-averse traders take the trade.
After taking support at the same 820 level we can see the script rallying upwards.
The targets can be marked using the Fibonacci extension.
The stop loss for this trade should be below the trendline.
Happy trading!
The script had resistance at around 820 where a double top pattern had formed.
The third time when the share price approached this resistance trendline a strong green candle was formed breaking out of the resistance.
This green candle denotes a breakout. Risky traders usually enter a trade when this breakout occurs.
The breakout can be further confirmed by the resistance trendline switching its role into a support line now.
This is where most risk-averse traders take the trade.
After taking support at the same 820 level we can see the script rallying upwards.
The targets can be marked using the Fibonacci extension.
The stop loss for this trade should be below the trendline.
Happy trading!
Zlecenie aktywne
The first target was reached... We can see how beautifully the share price retested the resistance line and gave a rally today. Though it took 2 weeks, it is worth the wait. More rally to come.Transakcja zamknięta: osiągnięto wyznaczony cel
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