Master the Art of Gap Retest Trading! đđ
Identify high-probability entry points by utilizing gap retest strategies.
Key Points:
Gap: A significant price movement that leaves a gap in the chart.
Retest: The price often retraces back to the gap area before continuing its trend.
Supply Zone: The area above the gap where selling pressure is strong.
Trading Strategy:
Identify the Gap: Look for significant gaps in the price chart.
Wait for the Retest: The price may pull back to the gap area and retest the previous support or resistance level.
Enter the Trade: Place your order near the retest point, aiming to ride the continuation of the trend.
Set Stop-Loss and Take-Profit: Use technical analysis tools like Fibonacci retracement or price targets to determine appropriate levels.
Remember:
Risk Management: Always use stop-loss orders to protect your capital.
Confirmation: Combine gap retest strategies with other technical analysis tools for increased accuracy.
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