is the first movement a false. What is the market psychology aft this? How can you tell if this is a false cut-out or the real one beforehand getting burned?
Answers: Money management and risk to reward will prevent you from getting burned.
Not every trade is a defeater.
Depending on the time chart you're trading, the candlestick that breaks through the B band - when that candle is finished forming and the subsequent candle starts to trade above the breakout's candle high - that's the entry.
The risk is the low of the breakout candlestick's low.
The reward should be the subsequent resistance point.
If the risk to reward ratio is less next 2-1 don't take the trade.
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Answers: Money management and risk to reward will prevent you from getting burned.
Not every trade is a defeater.
Depending on the time chart you're trading, the candlestick that breaks through the B band - when that candle is finished forming and the subsequent candle starts to trade above the breakout's candle high - that's the entry.
The risk is the low of the breakout candlestick's low.
The reward should be the subsequent resistance point.
If the risk to reward ratio is less next 2-1 don't take the trade.
Resolved Questions: