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correction at different time frames !

vali's picture
Hi traders ! Here it how I look at my breakout entry : Asian session high/low, previous day high/low or any important sup/res taken : WAIT FOR THE CORRECTION AND DON'T JUMP to enter as so many times price is faking. If correction is bigger then 15 pips I have a choise to enter when trend is resuming so I can make my first 10 pips breakeven profit. If correction is smaller then 15 pips I just put an entry level above/under that high/low. Simple stuff (but it took me so long to understand, thank you Phil for your reviews :wink: ) probably nothing new for most of you here. My question is : how do you look at a correction ? what time frame ? how do you translate a correction in bars type ? Example, if I'm looking at 10 min chart (my favorite) a correction is looking different then a 15 min. For me a bar correction is one that is not making a higher high/low OR is changing the color. Is it making sense ? Or you guys are waiting to see a very "visible" correction ? This is very important to know as I've seen recently a few USD short rallies when there wasn't so much of a correction after a break out and if I don't enter in time, for the next 2 hours and 60 pips later I can still wait for a correction :wall: Thank you for your time to answer, Val.