LIVE Trading on this thread
- Thread starter Ameet148
- Start date
Hi ryan,
There was fast upmove in Finantech in morning, then a fall for 51 min( 3 min tf and up) in which it didn't break candle high. In moves like these as there is sufficient volatility can we enter on break above candle high for a scalp? Condition for trade :-
1. Big move in one direction.
2. Retracement in which high/low of candles is not broken in uptrend/downtrend respectively for considerable amount of time( more than 15 min say).
3. Premise is that as high of the candle breaks in pullback in uptrend there would be some profit booking, some new buyers entering, so some orderflow would be expected in long.
Trade will be a scalp as we are trusting the momentum and more positions could be added later if it forms a base there.
Regards
There was fast upmove in Finantech in morning, then a fall for 51 min( 3 min tf and up) in which it didn't break candle high. In moves like these as there is sufficient volatility can we enter on break above candle high for a scalp? Condition for trade :-
1. Big move in one direction.
2. Retracement in which high/low of candles is not broken in uptrend/downtrend respectively for considerable amount of time( more than 15 min say).
3. Premise is that as high of the candle breaks in pullback in uptrend there would be some profit booking, some new buyers entering, so some orderflow would be expected in long.
Trade will be a scalp as we are trusting the momentum and more positions could be added later if it forms a base there.
Regards
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