Hi everyone, just discovered this wonderful thread a few weeks ago and have already had some success with it. I'm currently reading the whole thing through and am at page 100. So please forgive if I'm asking questions that have been already answered somewhat later. Couldn't wait to chime into the discussion.
My first question regards rule #2: Entry ONLY the FIRST 00 level.
Let's say price is at 123.55 above the daily open and all rules apply. So I put a long pending order at 123.60. With the opening of the new hour price first retests and breaches the 123.50 to the downside. Would that cancel my outstanding buy order at 123.60 or would it still be valid. In other words: does rule #2 state that we enter on the first 00 level in our direction or do also breaches of a 00 line in the opposite direction cancel any further trade? for that hour?
Sorry, a little bit hard to put into words. Hopefully you understand.
My first question regards rule #2: Entry ONLY the FIRST 00 level.
Let's say price is at 123.55 above the daily open and all rules apply. So I put a long pending order at 123.60. With the opening of the new hour price first retests and breaches the 123.50 to the downside. Would that cancel my outstanding buy order at 123.60 or would it still be valid. In other words: does rule #2 state that we enter on the first 00 level in our direction or do also breaches of a 00 line in the opposite direction cancel any further trade? for that hour?
Sorry, a little bit hard to put into words. Hopefully you understand.
Thanks J16, Sam Seiden, Udine and Jacko