Received 69 Karmas
Sarnaud1205
Sarnaud1205 Aug 27, 23 4:11 PM

Trading a short term breakout is risky if there is meaningful over head resistance within range. Bag holders are looking to sell into breakouts just to decrease size of unrealized losses adding to short seller pressure. Much higher odds if breakout has nothing but blue skies above.

Sarnaud1205
Sarnaud1205 Aug 27, 23 4:13 PM

over night b/o swing idea: How did b/o close? did it close near HOD? If so, high odds to see a following day gap up. The same idea goes in the opposite direction, if b/o candle is large and closes -50% off highs or close to LOD, holding o/n is not a good idea, as odds have now shifted to higher likelihood of a gap down.

Sarnaud1205
Sarnaud1205 Aug 27, 23 4:16 PM

For turns on intraday price action if you're looking to go for a directional trade opportunity (based on big picture daily chart) don't focus on LVL2 instead focus on the chart and allow time for chart to set up a good risk area for you to use for your long or short idea. Don't try being first to make the trade, focus on risk management first. Thanks for your time, education, and wisdom Grittani!!!

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