$JCT ｜Breaking through the 0.008 level
Before looking at position size, first understand the key price levels.
Support and resistance are really price zones, not prices precise to the decimal point. It’s normal for the price to test the area repeatedly.
It’s not uncommon for the price to break through a level and then retreat, so many people wait for the candle to close and hold above it before treating the breakout as confirmed, rather than jumping in the moment it breaks through.
It’s much safer to work out your position size based on where you place your stop-loss than to choose one by gut feel.
#JCT
I could be wrong, so don’t blindly follow what I say.
Before looking at position size, first understand the key price levels.
Support and resistance are really price zones, not prices precise to the decimal point. It’s normal for the price to test the area repeatedly.
It’s not uncommon for the price to break through a level and then retreat, so many people wait for the candle to close and hold above it before treating the breakout as confirmed, rather than jumping in the moment it breaks through.
It’s much safer to work out your position size based on where you place your stop-loss than to choose one by gut feel.
#JCT
I could be wrong, so don’t blindly follow what I say.
