lowtrade

[lowtrade]

So to answer your question.


Quote:
how am i supposed to know if the candle for that day will be a high exhaustion peak and then close red?


The answer is you can't, but you can react after you see it. Basic, simple and clean !

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After all my bull in the last post. I didn't mention how I handle reacting to a seen candle spike. Since I don't get up every morning and watch charts tic like day traders. I can't be sure there will be a red day. But I can place a stop order at the candle spike days closing price. That way if any time during the next expected exit day, the price falls below the previous days close (RED) I take profits.

Is it possible the rush hour will sell off, close me out and continue running the rest of the day. SURE. But I don't care, I saw a candle spike, planned on exiting on red and traded my plan. Profits are safely in my account. If on the other hand, after I'm out, continuation happened. I can always re-entry the next day if warranted.

Ps;
Placing trade orders the night before, to accomplish what you plan to do, can relive a great deal of stress, you've been living with.