This T.P.B principle happens on all time frames, but if you are scalping or day trading (using 15 minute, 1 hour or 4 hour charts).
Key Principle:
Identify the trend. Watch for pullback. Trade the beak out.
1) Trend candle (TC)
2) Pullback candle (PC)
3) Break out candle (BC)
The above can happen on 1 candle each or couple or few candles- attach GBPNZD hourly chart is normal price action on hourly price chart, given the right pair, right price, right session and right time- of this possible sell trade with high liquidity and volume.
Underlying Principle: Risk cont through stop loss. The noted set up would have given you 1:3 risk/reward set up with 20 pips/60 pips.
Key Principle:
Identify the trend. Watch for pullback. Trade the beak out.
1) Trend candle (TC)
2) Pullback candle (PC)
3) Break out candle (BC)
The above can happen on 1 candle each or couple or few candles- attach GBPNZD hourly chart is normal price action on hourly price chart, given the right pair, right price, right session and right time- of this possible sell trade with high liquidity and volume.
Underlying Principle: Risk cont through stop loss. The noted set up would have given you 1:3 risk/reward set up with 20 pips/60 pips.