springz2's Trading Plan
breakout
Which timeframe do you use most often?
4Hour Charts
m5
m15,
h1,
h4
daily
Which analysis methods or trading systems will you use to determine the direction bias and entry/exit levels?
Support Resistance Chart Patterns Indicators
What is your potential entry setup?
when the price breakout form pattern or round number and R&S.
when price retrace and pull back. enter when the price higher than the previous high.
Describe how you will determine your stop loss points.
the nearest support and resistance especially below or above the round number.
Describe your profit taking strategy.
support and resistance
What conditions will signal your entry trigger?
when the price breakout and come back to touch the support & resistance area.
What conditions will cause you to exit early (i.e. time stop, surprise news, shifts in sentiment or fundamentals, etc)?
bad news for the curency i bought.. candlestick pattern changes... price make a false breakout.
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