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Allow me to present an effective trading strategy that allowed me to quintuple my funds in a single transaction.
Recently, I observed a chart that showed multiple attempts to break through a significant resistance level. A breakout seemed imminent, and I knew how most traders would react. They would jump into action the moment the breakout candle appeared.
However, I opted for a different approach.
Next, I detail my procedure:
I didn't rush. I chose to wait. This is because breakouts are often traps that lure in buyers before reversing.
Therefore, I placed a pending buy order just below the resistance level, within the demand zone. I let the market come to me.
And so it happened.
The breakout occurred, retraced into my zone, triggered my entry order, and then shot up strongly.
From $100 to $1,000 all thanks to a carefully planned transaction. No stress, no succumbing to the temptation to chase the movement, just patience and precision.
Lesson Learned: Don't chase candles. Trade on re-tests. Let the setup come to you.
Keep this information for later and share it with that colleague who keeps buying at the peaks. 🔥🍀