Open trading account 
Dear friends ,
Yesterday we saw about the 4 types of entry points .
1. Breakout/Breakdown.
2. Retracement / Pullback .
3. Reversals / Counter trend.
4. Rangebound fades.
We will discuss them in detail one by one .
1.BREAK OUT ( OR BREAK DOWN ) :
This entry point is the most preferred by TREND FOLLOWERS ( AND TO SOME EXTENT YOU CAN SAY - PROFESSIONAL TRADERS ALSO ).
The entry is very easy - breakout of a strong support or resistance .
When experiencing extended range consolidation, it is best to begin
considering playing for a Breakout in hopes of a new, sustained breakout
move.
Recall that other traders will be attempting to “fade” the breakout
and if price continues, they will be forced out by their stop-losses.
Stops are placed conservatively just below the breakout zone or
aggressively below the area of most recent consolidation.
PROS :
1. Very easy to identify .
2. can scan through many charts and can put SL orders before .
3.High probability of success.
4.very easy stop loss - just below the break out point.
CONS :
1.Already a part of trend would have passed.
2.Whipsaw signals in choppy market - many SL triggers.
3.False breakouts.
But overall , one of the best entry points.Here 0.9220 in september and 0.9528 in october are good breakout trades.
We will see the rest tomorrow.
HAPPY TRADING,KUTTY
Yesterday we saw about the 4 types of entry points .
1. Breakout/Breakdown.
2. Retracement / Pullback .
3. Reversals / Counter trend.
4. Rangebound fades.
We will discuss them in detail one by one .
1.BREAK OUT ( OR BREAK DOWN ) :
This entry point is the most preferred by TREND FOLLOWERS ( AND TO SOME EXTENT YOU CAN SAY - PROFESSIONAL TRADERS ALSO ).
The entry is very easy - breakout of a strong support or resistance .
When experiencing extended range consolidation, it is best to begin
considering playing for a Breakout in hopes of a new, sustained breakout
move.
Recall that other traders will be attempting to “fade” the breakout
and if price continues, they will be forced out by their stop-losses.
Stops are placed conservatively just below the breakout zone or
aggressively below the area of most recent consolidation.
PROS :
1. Very easy to identify .
2. can scan through many charts and can put SL orders before .
3.High probability of success.
4.very easy stop loss - just below the break out point.
CONS :
1.Already a part of trend would have passed.
2.Whipsaw signals in choppy market - many SL triggers.
3.False breakouts.
But overall , one of the best entry points.Here 0.9220 in september and 0.9528 in october are good breakout trades.
We will see the rest tomorrow.
HAPPY TRADING,KUTTY
