Beautiful $ Breakout in DE Tradeable Even On Short Timeframes
This entry is to document my learning and observation and also implementing the $ breakout method of finding potential trades.
DE has a strong move up and then went into a sideways consolidation with very small ranges. This behaviour offers exceptional potential to anticipate another leg higher which happened on morning of 27/3.
The opening 5 min candle on 27/3 is the breakout candle and it was the ideal time to go long. The low of the day was the risk for the trade and will look to exit the trade in 4 days time
DE has a strong move up and then went into a sideways consolidation with very small ranges. This behaviour offers exceptional potential to anticipate another leg higher which happened on morning of 27/3.
The opening 5 min candle on 27/3 is the breakout candle and it was the ideal time to go long. The low of the day was the risk for the trade and will look to exit the trade in 4 days time