Hi
A good graph to work from.. Im assuming this is a daily graph.. One way to analyse graphs to see when you can enter is do an EOD [End of Day] analysis.
I know it is easy to say now looking at it.. saying well I could have gone in there and in there.. but that is one way to learn for the future.
Looking at the graph we can see that there are 2 major drops. 22 Aug and 19 Sept. These I would consider entry points as it was such a drop and when I start to notice that the uptrend is going back up again by keeping an eye on the 1H 2H and 4H charts and they all confirm that trend is UP.. I then re-enter.. that way I know that from an overall perspective.. I have entered the UP trend on a DIP. and that way I can minimise my risk..
Obviously with any trade there is that element of risk. and where that drop occured that may have been a reversal and taken the trend in the other direction. But that is why we have stop losses and we will win some and we will lose some.. just make sure that the when you set your SL and TL that you have a 1:2 or a 1:3 R:R ratio.
A good graph to work from.. Im assuming this is a daily graph.. One way to analyse graphs to see when you can enter is do an EOD [End of Day] analysis.
I know it is easy to say now looking at it.. saying well I could have gone in there and in there.. but that is one way to learn for the future.
Looking at the graph we can see that there are 2 major drops. 22 Aug and 19 Sept. These I would consider entry points as it was such a drop and when I start to notice that the uptrend is going back up again by keeping an eye on the 1H 2H and 4H charts and they all confirm that trend is UP.. I then re-enter.. that way I know that from an overall perspective.. I have entered the UP trend on a DIP. and that way I can minimise my risk..
Obviously with any trade there is that element of risk. and where that drop occured that may have been a reversal and taken the trend in the other direction. But that is why we have stop losses and we will win some and we will lose some.. just make sure that the when you set your SL and TL that you have a 1:2 or a 1:3 R:R ratio.
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Say Good-bye to Buy-and-Hold