The Right Time to Use a Limit Order
Limit orders allow traders to profit even if they are busy. This feature is used when trading without having to stare in front of the screen waiting for bids to be inputted.
Limit orders help traders set a selling price higher than the current price, but it can also be the other way around. The selling price or buying price is inputted according to the trader's wishes and will be set by the broker after entering the market price. If the price movement misses, the transaction cannot be processed.
Limit orders tend to be more effective on less liquid instruments. Through this feature, traders can leave the market without worrying about the investment funds falling because the broker will execute it when the limit is reached.
Price Reach Range
Range is the ability of price movements in a certain period. Many argue that if the price has moved and reached its daily range, then that's the time to open a position. This means that if the price moves and reaches the daily average range, it is time to sell and vice versa. To make it easier to see the movement of the daily range, it can be seen from D1. In this way, traders can still maintain positions and re-analyze the market reaction when the price reaches its daily average range.
There's a Sign of Reversal
Correction or reversal movements can actually be identified from the start, namely by reading the candlestick or price action. Candlestick formations that are commonly used to detect correction or reversal movements are doji candles, twezeer top or bottom, and inside bar formations.
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