How to play potential level breakout (From my latest trade)
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Steps
1) Identify potential breakout zones , crucial supports , resistances ,trend line , Patters like (triangle , rectangle , consolidation )
TATA POWER
other examples
UJJIVAN
ADANIENT
BTCUSD
BANKNIFTY
2) Wait for breakout "do not enter just seeing the breakout " ,watch carefully the volumes , then wait for a price to retest the level.
Many times when the prices make a crucial level , big players tend to exhaust this opportunity and fools us by fake breakout you can see my UJJIVAN idea in the links below.
3) when in price retest and start moving up then enter above just high of recent up swing and keep sl at the low of latest down swing.
This three steps are most effective approach for playing out the breakouts.
1) Identify potential breakout zones , crucial supports , resistances ,trend line , Patters like (triangle , rectangle , consolidation )
TATA POWER
other examples
UJJIVAN
ADANIENT
BTCUSD
BANKNIFTY
2) Wait for breakout "do not enter just seeing the breakout " ,watch carefully the volumes , then wait for a price to retest the level.
Many times when the prices make a crucial level , big players tend to exhaust this opportunity and fools us by fake breakout you can see my UJJIVAN idea in the links below.
3) when in price retest and start moving up then enter above just high of recent up swing and keep sl at the low of latest down swing.
This three steps are most effective approach for playing out the breakouts.
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