The fourth thing before taking a trade

[amakaokafor]

The fourth thing to consider before taking a trade is your ENTRY,the entry is where you place your trade,since the market is in an up trend and at the former resistance,you should go to a lower time frame to check for break of structure,in the lower timeframe the downward trend would have change to upward trend,after a retest,then you can take a buy trade

 

[Victorial]

Knowing when to enter and exit a trade can be the most difficult thing to do. You will never get it right unless you are patient with your strategy. The lower timeframes detect fast signals and they may be false. It is left for you to check the higher timeframe like the one hour timeframe for proper confirmation. Sometimes I do not usually check the one hour cos I am kinda impatient which is bad.

I will like to know your exit point or strategy

 

[Kingstone]

How would you define a good entry point? A good entry point will meet some criteria depending on your confirmation entry. Some people are fond of using many indicators to know where to enter a trade but a good entry should come after tye market has retraced a little bit. That is when you are sure that the market price will not reverse.
Some are moving average traders. The 20, 50, 200 MAs are the commonest ones used to trade. I used some to trade also.

 

[Setho]

There are quite a couple of things that you should check before trying to open up a trade and give yourself a position which includes the volume of the market and also basic fundamentals for things like news that might shake the market. No matter how can we use you are on a particular trade it is usually very good that you should try to tell yourself why you think that trade is going to play and you should also do your ways to reward analysis so that you can be able to know where your invalidation point is going to be.