This is just to show an example of entry when you are done with your analysis. Entry is very important and you never jump into it just because the price starts trading in the breakout or breakdown zone. You must always wait for closing. Which closing you might ask? The closing should be in the direction of breakdown or breakout in the same time frame as the analysis you have done. The candle should be green for breakout and red for breakdown. Sharing the last analysis as an example.
The time frame of analysis is 1 hour. Hence, you must wait for any hourly candle to close in green above no trading zone or in red below no trading zone. Now you will see that in the red circle the prices have gone both sides but it did not close either side. That means, there is no entry. So, always wait for candle closing. Now, after the red circle you will see a green candle closing above no trading zone - hence a breakout is confirmed and we have an entry. That's the only approach for correct entry.
Always wait for correct entry, never rush, never. Correct entry can be late sometimes, but you are here to earn right, not to gamble or bet. And this is business of patience, just like if you open a shop now - it won't start giving you profit from the first day onwards but you will have to wait for a year or more. Hence, always wait and have patience.
Thank you for reading this long article. Just had an urge to share about correct entry as I keep getting such queries and people sometimes get stuck in wrong trades because they get compelled on seeing the price trading in breakout/breakdown zone. Thank you!
The time frame of analysis is 1 hour. Hence, you must wait for any hourly candle to close in green above no trading zone or in red below no trading zone. Now you will see that in the red circle the prices have gone both sides but it did not close either side. That means, there is no entry. So, always wait for candle closing. Now, after the red circle you will see a green candle closing above no trading zone - hence a breakout is confirmed and we have an entry. That's the only approach for correct entry.
Always wait for correct entry, never rush, never. Correct entry can be late sometimes, but you are here to earn right, not to gamble or bet. And this is business of patience, just like if you open a shop now - it won't start giving you profit from the first day onwards but you will have to wait for a year or more. Hence, always wait and have patience.
Thank you for reading this long article. Just had an urge to share about correct entry as I keep getting such queries and people sometimes get stuck in wrong trades because they get compelled on seeing the price trading in breakout/breakdown zone. Thank you!