If you want to trade with 5 minutes Candlestick Charts…
I have seen the video thank you very much for your co operation
If possible can you give me any strong strategies for 5 minute chart
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Importance of Entry and Exit in Price Action Trading
Price action traders use the price movements of the market to define the safe exit and entry point.
For any trader, safe entry and exit is the basic rule of trading.
Otherwise, traders may face a loss and risk their investments.
Price action traders use the setups of various points to decide the best entry and exit points in the market.
The price action traders use setups to determine entries and exits for positions.
Each setup has its optimal entry point and exit points.
Some traders also use price action signals to exit, simply entering at one setup.
They exit the whole position on the appearance of a negative setup.
The trader might simply exit instead at a profit target of a specific cash amount or at a predetermined level of loss.
This style of exit is often based on the previous support and resistance levels of the chart.
A more experienced trader will have their own well-defined entry and exit criteria, built from experience.
After entering the trade, the trader needs to place a protective stop order to close the position with minimal loss if the trade goes wrong.
The protective stop order will also serve to prevent losses in the event of a disastrously timed internet connection loss for online traders.
Though there is no Holy Grail in the trade market, price action trading often helps the traders to get the best entry and exit points.
The accuracy of the price action trading is more than other indicators of the market.
The main difference between the other technical analysis tools and price action trading is that price action trading doesn’t use any indicator.
The basic rule of price action trading is using the method of market repeating to certain points regularly.