Please critique my first trade idea
- Thread starter lentus
- Start date
Nicely done!
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Don't have to have 52 weeks/1 year. 1o years is even better...………………………………………………………..
there is exhaustion in the 28-28.5 area, the buyers are trying to push over it but the volume is not high enough, on the other end of the channel 18-18.3 is a good support, not a lot of sellers that trying to break it. I guess the resistance will break and the price will pop up. Bookmap can help you see graphically when the sellers could not absorb anymore the buyers.
What is bookmap?
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Bookmap is a software that present that the chart in a heatmap form. It shows market liqudity and where the big buyers and sellers are which helps identify big support and resistance areas and where can be a change in trends or reversals. It has iceberg orders feature that shows where there are hidden orders. Important thing in Bookmap is that it display all the historical activity so you can see which prices the big players trade before. It gives me good convictions to my trades.
It's logical that I'll talk about tools I'm using with. A good trader need to focus on few things that works for him and not to get lost with all the options there are in the trading business.It's the product cornerstone promotes
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