Hello friends.am frank from Kenya.been trading for now 6months but i still dont get how to determine an entry point in a candle.also,do you wait for the next candle which you are trading lets say in 1Hr chart to confirm a breakout pullback so as to enter the trade
Frank, do whatever you think is right … but keep a diary with all the trades you take… and write down the reason why you took each trade…
Then after 40-50 trades, see which trades where good and which where bad. This is the only way you are going to find a profitable strategy
So take trades with pullback… and without pullbacks…
Try different entry points in a candle… and after a while… look at your diary, and see What works the best for you
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@averied is right.
You have to start somewhere, gathering data, creating your own ideas. It is hard, it took me 1,5 years. But eventually you will be able to analyze your data and say “hey, this works best for me.”.
But because you asked…I analyzed my data and i came to the conclusion that it is better for me to trade the initial breakout, than to wait for a pullback. Benefit is that i have fewer screen time that someone who waits for a pullback.