Bounce off the trendline inside a trading range by TradeWithChannels on TradingView.com

The Midline is an unrelaible place to trade. However, within the right context it can to be useful. The Overall downtrend helped me take a short as it would be trading with the trend. Trade Management is worth noting. Disclaimer: Educational purposes only. Don't use this as the sole basis to trade/invest. User Discretion advised. For more, visit tradewithchannels.blogspot.com  Pause and repeat, if required, to understand the trade completely.  Drop your queries in comments for doubts that persist.  Consider Supporting me:  https://pages.razorpay.com/tradewchannels 

 Trade Rationale:  1. Context: Downtrend. Two legged pullback to 21 EMA. Midline of Downtrend Channel  2. Entry: On a Bearish Reversal bar  3. Exit: 80% @ 2x Brokerage (Scalp Portion) and 20% @ Trailing Stop Loss at Breakeven (Target was trend Channel Line) Disclaimer: Educational purposes only. Don't use this as the sole basis to trade/invest.  User Discretion advised.  For more, visit tradewithchannels.blogspot.com Pause and repeat, if required, to understand the trade completely.  Drop your queries in comments for doubts that persist.  Consider Supporting me:  https://pages.razorpay.com/tradewchannels

  This trade example video shows: 1.The Setup A trading range within an uptrend channel. The 21 EMA was a concern but trading with trend allows higher chances of a successful trade. 2.Trade Management Proper entry ensures the trade has enough wind under its wings to fly to the target . The exit is placed to ensure a limit order is filled.

  Watch the video description for information. Comment below for more information.

  A paper trade example. It shows the importance of waiting for a higher low after a false breakout to re-enter. Also, notice the use of measured moves for target setting.

TRADE MANAGEMENT CAN BE SEEN FROM THIS IMAGE. 

            

Trading reflects your personality. Also, trading can alter your personality.  Beginners should try to work on their personality before trading affects them. Try to develop a system with stoplosses, targets, entries and signals which suits your personality.  One can book partial profits and wait with the rest for the long haul.  Some like to scalp. Some just dig their heels in and wait.  How did I set the target? Find the nearest closes.  Put the limit order slightly above it.  Increases chances of getting filled.

  I have tried to explain my thought process in the video. Please note the entry bar, stop placement and trade management ideas properly. As an update to the measured move concept, I am attaching a snapshot below. An Update to the trade example posted above: