DislikedImrain,
I'd like to confirm my logic with you on this chart. There was a very clear BUY signal from the lags, but I didn't take this trade.
If you look at the end of the chart, this is a classic buy scenario if you only use lags. However, the price is bouncing off the daily S3. I'm assuming that in order to go long in this situation I would WAIT until it breaks through S3 by 10 pips, then set my TP 5 pips below S2. Does the weekly pivot come in to play at all?
Anyway, on the other hand, I was thinking I could wait for it to bounce off S3 again, get a sell indication from lag 1, and hop back in with the downward trend. It looks like it's doing its usual 3 steps forward, 1 step back, routine, which means it should drop even further soon unless I'm mistaken.
Thoughts?Ignored
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