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Tramline Trading: A practical guide to swing trading with tramlines, Elliott Waves and Fibonacci levels by John Burford

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Chapter 3: Trading With Tramlines, Fibonacci and Elliott Waves

In this chapter, I show how I go about trading the various patterns that I have described. When researching a possible trade, I go through these five steps:

My Five-Step Trading Routine

  1. Recognise the pattern and put it in context.
  2. Work out a trading plan with entry price, risk level to stop and profit targets.
  3. Wait for confirmation of the pattern.
  4. Then place the trade and protective stop.
  5. Finally, manage the trade to completion.

I recommend you to implement this routine on every trade you make. It will hopefully prevent you from making that rash trade ever again!

In this chapter I will cover:

  1. The Tramline Trading Rules
  2. Trading the tramline break
  3. Trading the ...

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