Summary of Boot Camp Day 6: Break of Structure
The video discusses the concept of Break of Structure in trading, which is a shift in the trend.
Break of Structure is defined as a shift in the trend from higher highs and higher lows to lower lows and lower highs, or vice versa.
A high is a move up followed by a move down, while a low is a move down followed by a move up.
Break of Structure is identified by a candle closure above or below the most recent high or low.
The video provides a step-by-step formula for understanding Break of Structure, including identifying the trend, watching the most recent highs and lows, and waiting for a candle closure to confirm the break.
It emphasizes the importance of focusing on the most recent highs and lows rather than past ones.
Viewers are encouraged to practice spotting actual breaks of structure and fakeouts to improve their trading skills.
Presenters/Source
- Tjr (presenter)
Notable Quotes
— 33:50 — « We need to wait for the low to get closed below. »
Category
Wellness and Self-Improvement