✨Trading setup for Novice traders and things to keep in mind befor initiating your trades.

▪︎Identify the trend and its support/ resistance levels.

▪︎Confirm with a significant signal generated by indicators you use.

▪︎ Manage your risk and let the trade win.

#technicalanalysis
#trendanalysis
#tradingstrategies
#riskmanagement

HOW TO FIND A TRADE FROM SCRATCH? (without using any indicator)

● Identify the MARKET STRUCTURE(trend) and wait for the BREAKOUT.( HH-HL or LH-LL)

● Find the Key SUPPORT/ RESISTANCE levels for an entry trigger.

● Use FIBONNACI RETRACEMENT tool to identify the key support/ resistance levels with buying/selling pressure.

● Wait for the retracement trigger (usually 0.38, 0.5 or 0.61) and then enter.
>> Lesser the retracement ( counter-trend), more significant the target will be.

● Enter with a good risk-reward of 1:2,1:3...

#trendanalysis
#supportresistance
#fibbonaci
#riskmanagement