how to take perfect entry-
1. check price action if any
here we can see a descending triangle pattern
and resistance at 1511.
and price break triangle pattern and went till resistance area of 1511. with good volume and
resistance has done its works and sent the price back to the downside.
and if you notice when the price is going down after taking resistance the volume was low & that's showing just profit booking not a reversal
then again price start taking upside with good volume and we double confirmed that the price just took Re-teste & now its going to break the resistance of 1511.
2. VOLUME-
always check volume because no one can hide the volume. Volume is key for a successful trader here I briefly explained volume roll in point1.
3. Bollinger Band-
if BB is squeezing and BB's break zone is the same as a zone of your resistance/support zone.
gives more confidence.
4.RSI- check if RSI is taking support and resistance and if RSI is above 60 at your resistance give more confirmation for your set-up.
same case for RSI at or below 30 for support break down condition.
5. OPEN Low/High-
always check open low/high levels of the first 5min candles of starting the session.
6. Time Frame-
time is more important for any trade and at this, my opinion might different from your set-up.
I personally analyze the 1H chart then I take entries a according to 5min & 15min Chart.(for intraday)
Feel free to ask your doubts and questions.
also, comment if you want to learn next session about money management and how to exit.
note- this strategy work for all segments and all charts.
