AB Capital, One Simple Horizontal Line setupMonet management related stocks performing good.
-yesterday gave wick, hunt down many stoplosses
-came out from long base
-good shakeout (50 ema)
Stoplosshunt
Why Stop Loss Is Important ?? EXPLANATION : This is a 15 min time frame chart of EURGBP . It has formed Descending triangle pattern , after seeing this formation I take it early entry and Sl kissed me . Price moves in opposite direction of my Analysis , Now what can I do ?? Respect your SL , No revenge trading , No over trading , Find another opportunity , No gambling . This all things keep in your mind , If you want to be successful trader . Psychology matter :)
Lesson : Trade with confirmation
Ideal entry : Breakout & Retest , when support become resistance
STOP LOSS HUNTINGIf Price crosses 1st candle high and close above it then go long from there because it lead to trigger of no. Of stop Loss of Seller hence big move
STOP LOSS HUNTINGWHEN DAY OPEN WITH BIG BULLISH AND BEARISH CANDLE JUST LIKE TODAY WE CAN SHORT IT WHEN PRICE CROSSES THE LOW OF CANDLE BECAUSE IT LEAD TO TRIGGER OF STOPLOSS OF MANY RETAIL TRADERS AND HENCE IT LEADS TO BIG MOVE
IT IS PURE PRICE ACTION STRATEGY WTHOUT USING ANY INDIACTOR
