Buy on Breakout or Retrace ?

Discussion in 'Strategy Building' started by SimpleMeLike, Jun 16, 2016.

  1. And this is the second thing they do, example above, when you confront them, they reply by trying to discredit you with assumptions. At least this guy posted some link, but the discredit by assumption attempt never fails.
     
    #11     Jun 16, 2016
    Nereto likes this.
  2. wartrace

    wartrace

    Ok. You look for absorption in the orderflow and chances are there will be no breakout. If you see market orders hitting and making progress a breakout is likely. Pretty simple stuff if you look at the market as an auction.
     
    Last edited: Jun 16, 2016
    #12     Jun 16, 2016
  3. Thank you for response.

    My plan is to buy on trace near resistance once price breaks. And yes, buy with good stop placement.
     
    #13     Jun 16, 2016
  4. Thank you all for response. Not sure if the responses really help me.

    I believe I know the answer, keep practicing and make my own rules to trade.
     
    #14     Jun 16, 2016
  5. Thank you
     
    #15     Jun 16, 2016