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Trading Strategies on Corrective Patterns

FX:EURUSD   Euro / Đô la Mỹ
7143 65 188
There are two trading strategies on above Mentioned corrective patterns.

1. Entry before breakout, this strategy based on bullish divergence and RSI and other Oscillators may help to know when correction period is about to end. Look always for oversold

2. Entry after breakout, this strategy simply based on breakout of corrective pattern

3. Stop Loss, stop loss will be behind the corrective pattern for both

4. Target , target is start of the next correction

Entry before breakout, is called risk taking entry rather than the entry after breakout because tight stop loss is used for entry before breakout but risk reward ratio is good rather than entry after breakout.

Entry after breakout, is called risk averse entry rather than the entry before breakout because wider stop loss is used for entry after breakout and breakout confirms trend continuation. This is the reason why most traders trade on breakout but risk reward ratio is not good enough rather than entry before breakout.
Bình luận: Stay one step ahead from the market, Look at the examples.
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Bình luận: entry before breakout with the help of RSI best example.
Bình luận: Here is the entry point for risk taking entry
Bình luận: why it is risk taking entry
Bình luận: we can see entry point and stop loss point inthis example. why this is risk averse entry because price has confirmed breakout and why we use same stop loss for this trade setup is because in case price do not continue trend and reverse back in correction then we may close our trade as much close as our entry point for money management but in risk taking entry we hope for the breakout and keep open our trade for breakout and do not have enough time for money management until we got hit our stop loss. hope this will help
Bình luận: Trend continuation pattern formation and risk taking entry with the help of RSI.
good
Phản hồi
fantastic sir nice educational stuf
Phản hồi
awesome
Phản hồi
Thank you Wave-Trader. For all your effort which you put into this.
Phản hồi
Very good Sir, Please guide me too! I always see your chart and try to learn it.
Phản hồi
pm me
Phản hồi
Thanks for posting clear educational charts, very helpful .
+1 Phản hồi
you are most welcome my friend thank you very much for your feedback
+1 Phản hồi
Im a little confused where to set my target/ take profit how do i find the next correction?
+1 Phản hồi
Wave-Trader MarkussJansons
do you see this picture mate there were two patterns back to back
+1 Phản hồi
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