Talking about being more selective on our entries on these 1 minute charts here are some of my favourite entries around Daily laevels, like yesterdays close, high and low. Thats why I have them on my template, have a look at some of these entries...
See the pressure growing under yesterdays high then Whooosh and its a perfect breakout trade with absolutely no retest to worry about, those are my favourite breakout entries after a bit of pressure has built up, the breakout would of gone to BE in the same candle so risk off table in less than a minute. Now thats what I call an entry...
Here's an interesting observation just looking at my post, the first break of yesterdays close didn't have a build up of pressure it just went straight through and we got a retest. However the break of yesterdays high had a lot of goes before it broke through so pressure was building then when it did break through, no retest!!!
Hmmm wonder if we could use that to identify when to use breakout entry only after pressure builds???
See the pressure growing under yesterdays high then Whooosh and its a perfect breakout trade with absolutely no retest to worry about, those are my favourite breakout entries after a bit of pressure has built up, the breakout would of gone to BE in the same candle so risk off table in less than a minute. Now thats what I call an entry...
Here's an interesting observation just looking at my post, the first break of yesterdays close didn't have a build up of pressure it just went straight through and we got a retest. However the break of yesterdays high had a lot of goes before it broke through so pressure was building then when it did break through, no retest!!!
Hmmm wonder if we could use that to identify when to use breakout entry only after pressure builds???
Feel the Fear and do it anyway!!!