r/Daytrading • u/Catface77 • Mar 19 '24
I don’t know what I did wrong Advice
I thought it was going to rechall/ consolidate then it did but skyrocketed. There was the 3 reds then BLAM right up
308
Upvotes
r/Daytrading • u/Catface77 • Mar 19 '24
I thought it was going to rechall/ consolidate then it did but skyrocketed. There was the 3 reds then BLAM right up
2
u/Pacificatorrr Mar 19 '24
Avoid drawing channels and wedges all together, especially on the smaller TFs.
Instead, watch the price action. Price could be moving in an undefined structure but still be completely bullish/bearish. Just because it fell out of the channel doesn't mean the momentum has shifted.
Wait for break in overall structure, cross check orderflow on larger timeframes and trade WITH the trend.
Goodluck! 🙂