You want to see the RSI go up, in this case, in the direction of the trade. Heres what I mean: This means for every 1 you risk, you could make a multiple of that amount (like 2, 3, or even 10). After reading this trading guide, youll never make these mistakes again.
Wait for a directional move into. It is vital because it allows you to answer one of the most important questions in trading Who is in control of price? You will find out exactly why soon. We set our entry a few pips below the low of the indecision candle, and our stop loss a few pips above the highest point of the candle. Or go short at A or B? In this example, I bumped down to a one hour chart to make an entry. How to set your stop loss in a trending market Whenever I put on a stop loss, I would think of this" Place your stops at a point that, if reached, will reasonably indicate that the trade is wrong. But youll have to endure the retracement back towards 50MA (which drains your mental capital). This means: If youre trading the Daily, then your job is to trade trends on the daily timeframe. Now to take things a step further You can combine trend trading and multiple timeframe analysis to improve your trading results.
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