Dear Traders,
I've been in trading for a couple of years now. I've created a strategy for my day trading and partly successful with it, but one thing bothers me really bad. My strategy is based on trend trading and level breakout. There are many times when the breakout becomes false. I know that a breakout should be considered true if the candle is closed below or above the level, but the problem is that in may cases when it closes below or above the risk/reward is not good, so you have to enter just at the moment of level intersection, which doesn't give you the idea of whether the level is broken or not.
If you have any ideas that would help, I would be really greatful. I'm trading S'P mini on the 30 min timeframe.
Mikhail.
I've been in trading for a couple of years now. I've created a strategy for my day trading and partly successful with it, but one thing bothers me really bad. My strategy is based on trend trading and level breakout. There are many times when the breakout becomes false. I know that a breakout should be considered true if the candle is closed below or above the level, but the problem is that in may cases when it closes below or above the risk/reward is not good, so you have to enter just at the moment of level intersection, which doesn't give you the idea of whether the level is broken or not.
If you have any ideas that would help, I would be really greatful. I'm trading S'P mini on the 30 min timeframe.
Mikhail.
