All language subtitles for 3. Setting Targets (TP)--- [ DevCourseWeb.com ] ---

Madill 7.3 study on the set of targets TB's task will take profit.

Our teepee should be set according to its respective timeframe and nears turning point APRC you may

aim for a bigger take profit but be aware that it's going gonna take longer for price to get there.

This is when our knowledge will be identify the market phase.

Will it come into play.

Let's take this scenario for example we have a downtrend here and the rain starts to form.

We have to be able to identify that this is a range.

This is trend aphid that the range forms get.

Remember if you're trading in a range first then you find the range.

This case it's a down channel so you can already see that if you're taking a long here the next logical

take profit level will be the top of the range we're not going to aim for this high here because we're

simply in the range.

We know that until price breaks out of the range it's going to be containing the range doing the same

thing here and if just taking a short here and thinking that price would presume it's doctrine.

You first have to go past at this point.

So this is the first logical place to take a profit target.

Lot of people just got greedy and they want their one trait to be the homegrown.

They want this trade here to go all the way down and retest.

For example the previous level on the bottom I remember before that could happen.

Price has to retest this channel line first.

And as long as you got a good entry in a tight stop loss and this profit level could give you a positive

Watsa risk ratio that's good enough for us.

Same thing here if you're trying to lock the market here.

Keep in mind that the market is still stuck in this downward trend until it eventually breaks out over

here.

OK guys I'm using the same chart that we use earlier in our Madill on entries.

So imagine you're going to trade here Gagin to short trade.

Let's just say on the market close can you guys see where the next level is right here.

This is where it used to be resistance.

So if you're an industry stop loss on the red line take profit on the black line.

This is the first target remember full price to go down further it first has to break these levels for

next level.

Is this one here the demand level be below that there's another one.

If you're able to get in here with this stop loss which looks pretty smart to me about 15 16 tips 75

tips which is about five times it's a five hour trip.

And that's a phenomenal treat.

OK you can repeat that over and over again.

You are on your way to becoming successful a very successful trader.

So don't get too greedy and try to aim for such a big profit target the next probable level here.

This is also APRC is where it's best to place your take profit level.

Remember if your entry under age 4 you want to stay on the 8:04 to look for a take profit loss.

And for this entry right here you guys already know where in the basement take Prosit.

Right of course the love the channel number price would stop before it continues to the downside or

it reverses.

This is the first stop you take from that shabby place at the first stop way a price would stop it.

And in this case it's the bottom of this ranger.

Because we don't know at this point if it's going to break.

We're going to reverse the BNSF side.

They should take profit over here.

The next potential PRC

and the view does show short trade over here depending on where you enter the trade.

I would say this is the first take profit where you can exit your position at this also coincides with

the demand that will.

So in taking profits you always have to look back on the charge to tell you where is the next P R Z.