Why waiting for candles to close is important?

Ok, many of you are day traders, you love to scalp, you love to swing!
But is your strategy profitable?
Do you loose more often than your wins?
what's your RR?

Today I will tell you something that I learnt the bad way (that means loosing money).

YOU NEED TO WAIT FOR CANDLES TO CLOSE TO CONFIRM THE TREND.

I give you one clear example: the STEEM/BTC pair.

It seems that we are in #longing area and we only need confirmation.

But what happens if you are confident in your set up and place a trade, because there is a nice wick that broke the resistance level.

The body of the candle is above that resistance... but

10 minutes later... the body of the SAME candle now has broken the previous 1hr support, so it seems we will be going to retest the lower support.

Is the stress needed?
Can you (or your account) manage the drawdown?

It is better to wait for the confirmation candle and you can avoid this #rookie #mistakes.

TIP. By the way look carefully at #btc price... if it goes up #steem price will go down and viceversa.

Have a great day!