A trader, having the trading knowledge, plan to take the position at a certain place and firstly decide place of loss and if traded position goes in favour the decision of taking profit depends upon a special formation of candles.In this way loss will be minimum and profit maximum.ALL time graph should be on the screen with some tecnical studies i.e, bolingr, macd, rsi and 5 moving averages.15 minutes graph is the pivital graph and when a special formation of candles take place the positin is taken and profit / loss is taken again on the formation of candles.Before taking position the trader should decide, mkt is bullish or
bearish, and it can be well judged from the three
period graphs, daily, weekly & monthly.I have experienced
more than 70 % trades successful with big profit if not huge profit and minimum loss in case of unsuccessful trade.Market data is a deceiving activity and up / down of price rests only with technical machanism.
While the momentum of the move is impressive and some
bearish trendlines have been already broken, it's too early to conclude that the current rally is anything
more than an oversold bounce, even as the extremely
bearish sentiment of the recent
period would justify a
more durable relief rally.
It is also interesting to note that market fundamentals have remained
more or less unchanged over the past six weeks, a
period that has been marked by record highs,
bearish reversals and multiple recovery attempts.