here is an example of a stock i'm looking to buy if we can break the TL and this weeks BUOB around $16. Again i don't care if its FX or a stock, or a futures chart. Just looking for low risk and good manageable situations. I refer to it as dynamic r:r where as my risk gets managed(cause that's what we do at the end of the day)
Nice divergence, nice market capped by a strong TL. We know a break of this BUOB(pre-emptive bar) means that price should HOLD as support above this area if it's a good breakout. Do I know if it will work? Heck no. No one does. Once you hit buy or sell your job is to control and manage your risk in a logical manner. Let your edge play out. How do you know you have an edge? Doing it over and over and over for many years
Nice divergence, nice market capped by a strong TL. We know a break of this BUOB(pre-emptive bar) means that price should HOLD as support above this area if it's a good breakout. Do I know if it will work? Heck no. No one does. Once you hit buy or sell your job is to control and manage your risk in a logical manner. Let your edge play out. How do you know you have an edge? Doing it over and over and over for many years