" Dont wait for your boat to come in ..... swim out and meet it"
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DislikedI'm a little apprehensive about how far this one can go; you'll understand from the hourly. I've exited 60% of my positions for between 25 to 30 pips and now moved my stop to 6860 so i can sleep easy tonight.Ignored
DislikedHi,
Do you also use trendlines that arent flat lines on support and resistant lines?
Im trying to understand the method, I trade naked charts trendlines etc, but you trade it when the resistance has not been met?
Sorry for sounding stupid just want to understand more.
OzIgnored
DislikedI'm a big fan of trendlines, my approach may not be orthadox, but i doubt its unique.
On a downward diagonal move the orthadoxy are looking for a breach of the upper trend line.
I pay more attention to the lower trendline with the assumption its going to hold. If your a scalper or intraday trader these ltl's can present a lot of opportunity's and when the reversal comes, you will have caught it at the beggining.
For the purpose of trading the breakout pullback, it adds strength to the horizontal level if coincides with a diagonal support.Ignored
DislikedWhat if there are several hooks that approach the s/r level but don't hit it? does that make the level void because there is no longer a smooth parabola approaching the level?
You can see in my attached chart.Ignored