Daytrading: Do you prefer the closest, average, or highest resistance on breakout entries?

[Bugsy]

A) Highest
B) Average
C) Closest or most recent resistance

 

[KCalhoun]

Closest for initial trade, further up for scale-ins

 

[tiddlywinks]

Closest. It gives you an opportunity to make a little dosh on a burst, if that's what you do, or, it gives you a chance to breakeven if it bursts, and fails. If it doesn't burst at all, you are clearly wrong and just get the hell out of that trade.

 

[SunTrader]

What timeframe, what symbol, what time of day otherwise whoTF knows?

Appears to be image of ES 5 min near EOD (aaaafter a long move down)? If so, no go for me either way.

 

[volpri]

Depends on BO. Bo of what? Range? Pb? Triangle?

 

[Bugsy]

Depends on BO. Bo of what? Range? Pb? Triangle?

Good point. I was referring to ranges and on breakouts to new highs (or lows) beyond the range (not scalps).

 

[volpri]

Good point. I was referring to ranges and on breakouts to new highs (or lows) beyond the range (not scalps).

If it is a BO of a TR I wait for FT usually enter after the first PB if it doesn’t close the gap back into the range. Then I look for a measured move up or down, usually the height of the range. If a broad range than can be a multiple leg move for several points. Not sure how far beyond the range you are referring to in points or what you consider a scalp.

 

[Bugsy]

If it is a BO of a TR I wait for FT usually enter after the first PB if it doesn’t close the gap back into the range. Then I look for a measured move up or down, usually the height of the range. If a broad range than can be a multiple leg move for several points. Not sure how far beyond the range you are referring to in points or what you consider a scalp.

What does FT stand for, sorry?

Well a scalp I could run without even needing to break out of the range. Basically a measured move from the stop below a good entry bar to actual breakout point at the lower end of the range. I basically just scalp a few points with a limit exit.

 

[oshjdf]

None of your options but 4th before A.

 

[AbbotAle]

You're asking for answers to questions that have no definitive answer.

Your best bet is to look at 1,001 charts and work it out for yourself. Then another 1,001 and then another. This will probably take years. There are no shortcuts and the one's who know the best answers to your questions are the one's who have put in the years of necessary work.

Nothing comes easy in theis game, EVERYONE has to put in the work and YEARS. And guess what, they're the one's making the steady profits.