Disliked{quote} Hey Billy good day, I was wondering if you could expand on the retrace trades for the 0800. Do you open the retrace lets say from a percentage of the range of the 0800 bar or a set amount retrace from the break? Also for the retrace trade do you close it at the same time as the main break (+5) or earlier? Many thanksIgnored
Hi Sky,
the retrace trade can be used as a method on its own, as posted previously ,it is a good method but you might lose out on a good trade.
we have a break and it might keep going.
We have a break it might retrace a pip or 2 or 3 , WHO KNOWS.
Chart below, high broke =1, then we had retrace =2.
i made a retrace trace ,( i do not do this every day). we had a retrace trade and i entered , then i closed it for +2 pips..
I have diffent options with a retrace trade, sometimes i let it run to make 5, or just let it run.
Hope this helps.
Attached Image
edit, 2 pips is 2% ,,,,,
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
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