I am a semi-systematic trader and my pattern scanners will more often than not look for the same patterns. After my MHRIL trade, this one is slightly different although the underlying principles remain the same. So every trade posted here will have nuances that must look out for in a breakout trade and I will try my best to explain them.
Trade active
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Target is hit but forced to wait due to short delivery issues.
Trade closed manually
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Closed at 1.6R profit because the markets are in a precarious position and I would like to hold cash.
Hello brother...why don't u wait for the breakout candle to close...how u took entry at 4110 ???
Pls help
vorayash05
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@mishraraj827, Yeah, sure. I have already mentioned it but I will mention it once again, I am a semi-systematic trader so sometimes my scanner detects a move early on, sometimes a bit late. This particular market had great consolidation (very tight range) so I had the privilege to enter earlier. Could I have been wrong for entering so early? Yes. But I have taken several hundred trades so I have some experience there. I saw a clean break through the consolidation so I entered right away, to have a nice target instead of waiting for the candle to close.
mishraraj827
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@vorayash05, is this paid scanner which u use ??
want to learn how u saw early breakout ? any strategy ?
vorayash05
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@mishraraj827, yes, it is a paid software. It's called Streak. I paid for the software but the pattern detector is my work. I try to detect tight consolidations and a small move that's all. so I get many suggestions but not all of them are good ones but that's okay. I only need 3-5 a week.