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After Reach the Price Target

Sunday, October 13, 2019 3:29

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There are 2 probabilities after price hit the target. Continuation or Reversal..

I trade mostly on reversal trade when price hit key level. I trade continuation trade when target is possible to hit.

The new idea just comes out is doing the Reversal Trade then get Ready to HEDGE if price do the breakout.

There is high possibility after the HEDGE price do real Reversal.

If that happened I will do the breakout strategy. The breakout order should be on worse price than first trade.

If price keep continue after the breakout we will wait until price hit the new TARGET. Then we can cut the profitable hedge and resume with the reversal strategy.

Why using HEDGE than Cut Loss? Hedging is just subjective preference. For me it will push my brain to keep monitoring the market and react accordingly.

With cut loss sometimes I just done for the day..shut down, act of laziness…

Source: http://priceactionpattern.blogspot.com/2019/10/after-reach-price-target.html

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