Hi Rayner,
Thanks for this awesome thread! Your trading style is very interesting and your videos are great. I've just started demoing this using the W1 chart as my 'base' TF and the D1 for setting (fairly aggressive) SLs.
I've got a question about trading breakouts.. it's most easily asked with a chart so here it is:
On a related note, imagine that you try and trade a breakout of a high on the weekly chart (similarly to my GBPAUD chart). Price moves up, makes a new high, and triggers your entry. While that same candle is still open, price comes back down and stops you out. Now, that same candle comes back up and breaks its own high. Would you try to enter at the break of its own high? Sorry for the poorly worded question!
Thanks for this awesome thread! Your trading style is very interesting and your videos are great. I've just started demoing this using the W1 chart as my 'base' TF and the D1 for setting (fairly aggressive) SLs.
I've got a question about trading breakouts.. it's most easily asked with a chart so here it is:
On a related note, imagine that you try and trade a breakout of a high on the weekly chart (similarly to my GBPAUD chart). Price moves up, makes a new high, and triggers your entry. While that same candle is still open, price comes back down and stops you out. Now, that same candle comes back up and breaks its own high. Would you try to enter at the break of its own high? Sorry for the poorly worded question!
Confluence is king.