Retracement
Sep 22, 2023 at 05:06
Vistas 297
2 Replies
Miembro desde Nov 29, 2021
posts 1
Sep 22, 2023 at 05:06
Hello everyone,
Have a look at the attached image for context of my question.
1. You're looking at a 1-minute US30 chart.
2. A multi-timeframe analysis confirmed that price was in a downtrend.
3. The curving line is the 200 SMA.
4. Green line at the bottom is a support (across several higher and lower timeframes), which I used as a TP.
5. I entered 3 short trades in small lot sizes (in the yellow box), and as you can see I ended all three trades at a profit.
6. My trading style is very much as a scalper using minimal to no indicators (barely an SMA/EMA).
Regardless of the profit, question here is, is there a way to time entries better so as to prevent the temporary retracement? I mean, seriously, the retracement happened just where I made the entries, and it could've very well turned into a trend reversal with a loss on my hands. So how do I become a better beginner trader who makes better entries?
Thank you for your time and widom. Cheers!
Have a look at the attached image for context of my question.
1. You're looking at a 1-minute US30 chart.
2. A multi-timeframe analysis confirmed that price was in a downtrend.
3. The curving line is the 200 SMA.
4. Green line at the bottom is a support (across several higher and lower timeframes), which I used as a TP.
5. I entered 3 short trades in small lot sizes (in the yellow box), and as you can see I ended all three trades at a profit.
6. My trading style is very much as a scalper using minimal to no indicators (barely an SMA/EMA).
Regardless of the profit, question here is, is there a way to time entries better so as to prevent the temporary retracement? I mean, seriously, the retracement happened just where I made the entries, and it could've very well turned into a trend reversal with a loss on my hands. So how do I become a better beginner trader who makes better entries?
Thank you for your time and widom. Cheers!
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Miembro desde Oct 09, 2023
posts 17
Nov 28, 2023 at 17:23
You can use forexfactory or investing.com
I never give up
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