I feel very fortunate to find this thread, so many experienced traders are here discussing this method, I can learn a lot. and thank you very much,wmd, for the great method.
I am newbie, English is not my first language, so, to be frank, after going through the entire thread, I still don't think I well digested this method. please help me.
I drew a blue line on my chart, just to confirm if this one will serve as an untested resistance level in future, did I draw correctly the breakout point in this chart?
If I draw the line correct, then, we will wait for a hook to form. after hook to be formed, we will wait for a second breakout point which is the low of the hook before we can look for the entry setup?
please let me know if I understand this method correctly?
I am newbie, English is not my first language, so, to be frank, after going through the entire thread, I still don't think I well digested this method. please help me.
I drew a blue line on my chart, just to confirm if this one will serve as an untested resistance level in future, did I draw correctly the breakout point in this chart?
If I draw the line correct, then, we will wait for a hook to form. after hook to be formed, we will wait for a second breakout point which is the low of the hook before we can look for the entry setup?
please let me know if I understand this method correctly?