Traders who are using a basing period to find an entry point in a trending market should place a trade when price breaks above the high of the consolidated range (for a long position). The breakout should occur on above-average volume to show participation in the move. Ideally, a commonly used moving average, such as the 20-day or 50-day, acts as support at the bottom of the basing period; this allows the moving average to catch up to price. The moving average acts as resistance for a short position.
Identifying and entering a new position after market has already witnessed a significant price move can never be easy. Today Andria will demonstrate some key strategies for capturing an entry in the midst of a major trend.
Join her to learn:
- Preparation of possible resumption of the trend
- An innovative way of finding entry points
- Favourable timing of entry & risk control
Date: 24 May 11:00 AM GMT