Hi there,
I am struggling with a certain part of trading..
I see many levels that could be traded, but I never quite know if that level will hold or break. At the moment I look for a big pin bar at a level, but then they do not always happen, reducing taken opportunities. I know trading is about taking taking fewer good setups. But there comes a point where the criteria is so strict no trades are ever taken.
For example:
AUDUSD on a relevant level of support within a channel. But I do not see any long trail pin bars ect.... So how can I be sure it work? Maybe leave the trade alone wait for a break then trade that? Or add an MA that does lag, look at the COT report? RSI / MACD Divergence?
I would like some rules / framework to follow, once a setup like this appears.
Thanks
Freddie
I am struggling with a certain part of trading..
I see many levels that could be traded, but I never quite know if that level will hold or break. At the moment I look for a big pin bar at a level, but then they do not always happen, reducing taken opportunities. I know trading is about taking taking fewer good setups. But there comes a point where the criteria is so strict no trades are ever taken.
For example:
AUDUSD on a relevant level of support within a channel. But I do not see any long trail pin bars ect.... So how can I be sure it work? Maybe leave the trade alone wait for a break then trade that? Or add an MA that does lag, look at the COT report? RSI / MACD Divergence?
I would like some rules / framework to follow, once a setup like this appears.
Thanks
Freddie
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