I hope you enjoy watching this live trade example, as there are several good learning opportunities. I describe how I effectively trade ranges, but I also demonstrate how to enter on a limit order when the trade triggers so quickly that you do not have time to enter your normal buy\/sell stop entry order on time. Limit orders will not always get filled, but in this case, I was able to get my order filled rather quickly.<\/p>\n\n\n\n
While there was a slight upward bias to this day, the market was still playing out as a range at the time of my trade, and I demonstrate how you should look to enter against the breakout, meaning that the market broke higher above the resistance, and I faded that breakout by taking a short entry back into the range.<\/p>\n\n\n\n
Prices had been moving back and forth from support to resistance and back to support up and down for a while, so the range was rather obvious by the time I took this trade. The expectation was that prices would at least pull back to the EMA again, and maybe prices would run all the way back down to support again. <\/p>\n\n\n\n
Even though prices ended up pushing higher, the trade was successful and earned me a quick and easy 35 points, so this trade also demonstrates the beauty of our scalp and run trading strategy. With this strategy, you only have to be right for a short period of time and even a small move can make you money. Sometimes we will catch a large move and profit from a nice longer term swing trade, but even when we do not get a large move, we still make money and we do not watch our profits evaporate when the market turns against us.<\/p>\n\n\n\n
This trade has already been posted to our YouTube channel, so if you follow along there, you might have already seen it. You can never stop learning though, so a second or third watch will probably allow you to pick up other small nuances you might have missed the first time viewing it. I hope you enjoy this trade and learn something from it. <\/p>\n\n\n\n