Price Action Trading Support Forum

DOK Chapter 3
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Author:  LeeTrader [ Wed Oct 20, 2021 9:26 am ]
Post subject:  DOK Chapter 3

This is an example of a trade taken today.
I trade price action at support and resistance levels and am looking to use WRBs to help with profit targets (acting as magnets for price) and for potential entries after pullbacks.

Today we had GBP CPI released and price pushed down hard creating a WRB HG after the news.
I waited for a pullback into the WRB zone and a clear price candlestick pattern to signal an entry.

I tend to split my trade entries into multiple positions and in this case I was given a couple of entries.
Profit targets for each trade were using newly formed WRBs as the price action continued down allowing me to trail down behind price and use them to get out on signs of strength (pushes back uping to the WRBs).

LeeTrader Trade example.jpg
LeeTrader Trade example.jpg [ 305.38 KiB | Viewed 54 times ]

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