What take profit can I use in this haramy strategy?
How about Target ?
What take profit can i use in this haramy strategy ?
Price Action Trading- Trend Lines and Channels
Price action trading is one of the common trading methods in different markets.
It means trading off a price chart without indicators that are mathematically derived from price.
Trendlines are visual representation of support and resistance in any given time frame.
Static drawing tools, such as trendlines or support and resistance lines that obviously do not change dynamically with price, do not exclude
traders from being considered a price action trader.
Change dynamically with price means depending on how traders have their indicators set, generally the default setting is for indicators to update
n real-time, along with the last price bars closing price.
A line that is drawn over swing highs in downtrend or under swing lows in uptrend to show the prevailing direction of price.
Trend line must have at least 2 touches to become valid.
The more touches the trend line has the more powerful the move after a trendline break.
Long trend lines are more important than short trendlines whereas shallow trendlines are more reliable than steep ones.
Trendlines are very important for making the right choice for any price action trader.
Instead of using indicators to base trading decisions on, traders become the indicator.
With price action trading, all traders need is a single chart, a simple moving average and a few trend lines.
Anything more than this and you will only make trading more difficult.
Using this type of trading method as your main trading tool will clean up traders’ charts and remove the clutter that normally creates confusion and
indecision for traders.
Basing on trades on price action aids traders in finding reliable reasons to enter a trade, while also giving them clear and precise trading information.
But to be truthful, there is no such thing as Holy Grail in the market.