Determine Trigger/confirmation for Entry

After analyzing the market direction and getting the results of the analysis, the next step is to wait for confirmation or triggers to appear to strengthen trader entries. The use of this trigger will minimize the trader's entry being exposed to floating for too long.

A trigger is a market condition, such as an increase or decrease in the price of an index or security that triggers a trading sequence. Triggers are used to automate certain types of trades. Triggers help traders automate a trader's entry and exit strategy too early, too late, or to make trades they shouldn't. Traders need triggers in real time to let traders know that now is the time to act. Before trading, traders can have one or several decision zones, after which they are patient and wait for the price to reach these zones. Once price reaches these zones, traders can look for triggers and confirmation patterns, which are when price action confirms breakouts and bounces. Confirmation patterns are candlestick patterns that suggest traders place positions following the direction of movement according to the pattern that appears or confirm a certain price direction in the decision zone.

Trigger trades can be thought of as lines in the sand that define exactly when a trade will be entered. Unlike filter trading which can cover a wide range of factors, trigger trading tells the trader exactly when to act. Trigger trading must be completely objective and clear in the trading plan. There should be no room for ambiguity.

Trading triggers can be based on a variety of conditions, from indicator values to crossing price thresholds, such as support or resistance levels. Many traders use technical analysis tools, such as indicators, to determine high probability settings in the market.

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