A Simple Trading Setup – 3 Rules.
Ripple / Dollar
Here is an educational post for a trading setup that works on all time-frames (works really well!).
The two methods you can trade this setup is:
1. Before a breakout: Once you have at least 3 points ( support and resistance ) levels marked, you may enter a long trade and have the stop loss placed on the first support marked. So for the case above, support 1 will be your stop loss.
2. After a breakout: Once you have a breakout, place your stop loss if the last support breaks (marked as 4 in the above chart).
Let me know if you have any questions.
It would be great if I can see some of your examples 🙂
Source: TV AAlFadhala