Hi Workin, I'm very new to all this. I wanted to ask what you mean when you say something has to decisively break. How do you guage that? Is that on a candle close above a level for example? Apologies if this is a lame question and thanks for another great video. :-)
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Hey @cedricthebull. That's not a lame question at all. I usually explain it, but may not have this time.
For me, a decisive break usually means a 4 hour candle opening and closing above or below whatever support/resistance point I'm referring to. This is not a technical term...more of my personal technique. There are times when I change that to a daily candle...but I'll usually state that in my analysis. Hope that helps.
Thanks for the explanation. As a newbie, timing my trades has proven to be very difficult. On the few times I have tried, I've entered thinking the price was above or below a certain level only to watch it reverse on me! Waiting for a 4 hour close may help with this! Thank you for taking the time to explain :-)
My pleasure. ;-)