For trends I use moving averages with my personal setup (nothing special)
between the red line and the blue line is the dynamic support area (Red arrows)
I recommend must wait for the retracement to this zone for a better entry,
I do not use a mechanical system with Indicators and Oscillators, the methodology is discretionary
this gives me freedom to expose my idea, and also allows that different type of traders adopt the idea and use they own system
So, I use dynamic support areas (Red Arrows) combined with the concept of resistance becomes support (Red Horizontal Line)
between the red line and the blue line is the dynamic support area (Red arrows)
I recommend must wait for the retracement to this zone for a better entry,
I do not use a mechanical system with Indicators and Oscillators, the methodology is discretionary
this gives me freedom to expose my idea, and also allows that different type of traders adopt the idea and use they own system
So, I use dynamic support areas (Red Arrows) combined with the concept of resistance becomes support (Red Horizontal Line)
Note
Industry: Basic MaterialsSector: Steel & Iron
Trade closed: stop reached
Simply not workedstop loss
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.