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price action breakout trigger??
Nov 07, 2018 at 15:30
Anggota Sejak Nov 06, 2018
8 pos
Hello,
I am using price action, trading breakouts which happen around support resistance levels. My chart analysis is good I would say, I get the levels right, I see the patterns leading to breakouts followed by a nice long move. BUT I cannot work out entry trigger. I keep getting slaughtered around my entries - never knowing if it is a real or fake breakout. Majority of the time I can pinpoint a start of a big move but I get thrown out at false break if trading real, at real break if assuming its false... And I cannot enter later after the direction is clear because that creates untradeable risk reward ratio. Any suggestions from experienced traders are welcome.
Is it possible to distinguish between upcoming real or false break? If not, what are other methods, like bigger stop losses? or smaller stop losses and then entering again in the opposite direction....?
I am using price action, trading breakouts which happen around support resistance levels. My chart analysis is good I would say, I get the levels right, I see the patterns leading to breakouts followed by a nice long move. BUT I cannot work out entry trigger. I keep getting slaughtered around my entries - never knowing if it is a real or fake breakout. Majority of the time I can pinpoint a start of a big move but I get thrown out at false break if trading real, at real break if assuming its false... And I cannot enter later after the direction is clear because that creates untradeable risk reward ratio. Any suggestions from experienced traders are welcome.
Is it possible to distinguish between upcoming real or false break? If not, what are other methods, like bigger stop losses? or smaller stop losses and then entering again in the opposite direction....?
Anggota Sejak Oct 09, 2018
21 pos
Anggota Sejak Oct 26, 2018
10 pos
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