#TradingStrategies💼💰 #TradingCommunity Six confirmations before taking a trade
1. Trend Following
- Identify the direction of the trend (up, down, or sideways)
2. Support and Resistance Trading
- Identify key support and resistance levels
- Look for opportunities to buy at support levels and sell at resistance levels
3. Pin Bar Trading
- Identify pin bars, which are small-bodied candlesticks with long wicks
4. Engulfing Pattern Trading
- Identify engulfing patterns, which occur when a larger candlestick engulfs a smaller one
5. Breakout Trading
- Identify key support or resistance levels
- Look for breakouts above resistance or below support
- Use price action patterns, such as strong candlesticks or gaps, to confirm breakouts
6. Range Trading
- Identify ranges, which occur when price action is bounded by support and resistance level
These are just a few examples of price action trading strategies. The key is to develop a solid understanding of price action and use it to make informed trading decisions.$WCT