📚 Strategy Name:
Breakout and Retest Strategy (Support & Resistance Based)
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✅ Step-by-Step Guide:
1. Identify Key Support and Resistance Levels
Open your chart on the 1H or 4H timeframe and mark important support and resistance zones.
Example: On SOL/USDT, $125 might act as resistance, and $115 as support.
2. Wait for a Breakout
If the price breaks above resistance, it’s a bullish signal.
If the price breaks below support, it’s a bearish signal.
3. Confirm the Retest
After the breakout, wait for the price to come back and retest the same level.
If the level holds during retest and price starts reversing, that’s your best entry point.
4. Entry Signal
Go long (buy) if price breaks resistance and retests it successfully.
Go short (sell) if price breaks support and retests from below.
5. Set a Stop Loss (SL)
Always place your SL just below/above the recent swing low/high.
Example: In a long trade, place SL slightly below the retest level.
6. Take Profit (TP) Target
Always use a Risk:Reward ratio of at least 1:2.
Example: If your SL is 5%, your TP should be 10% or more.
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💡 Extra Tips for Beginners:
Risk only 1-2% of your capital per trade. Never go all-in.
Avoid overtrading. 1-2 quality setups per day are enough.
Check volume to avoid fake breakouts.
Stay calm and avoid emotional decisions. Let the chart guide you.
#binance #beginner