In this live trade I take a short position from a key resistance level. Using the Zone Trader methods on the 5 minute timeframe the trade comes within 0.5 points of stopping me out before reaching the target of 1:1 RR. This trade highlights the importance of sticking to your trading plan.
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I also took this trade, but i entered below the low of 8:25 candle and was 2 points away from being stopped out but held the trade until 11:25 candle. If it broke the high of 9:30 i would exit from the trade, have only been trading about 3 month or so and gives me more confidence to hold trades now if going against me. I Use the zone trader method and is amazing how price reacts from these levels.
ReplyDeleteGreat work.