Disliked{quote} I can only guess at it but I think he meant rejection to the downside not fakebreakout. But its just a guess.Ignored
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DislikedSo can we first get a indicator developed to identify this pattern/formation, cuz as of right now all I see is a rejection on some MA (not sure what period) and the pattern hasnt really been described. Or am I missing something?Ignored
Disliked{quote} I think there is a lot more setups. If i'm wrong please correct me... {image}Ignored
DislikedWe can use an oscillator to exit our positions. For example if we take take a long we will exit when the price is overbought (70 line or whatever). The opposite for short positions. Obviously, this kind of exit works better if we take a position that agrees with the overall trend. Look at the pictures. The rectangle is the pattern, the white horizontal line the point of entry and the vertical red line the point when the price reaches the overbought zone. {image} {image}Ignored
DislikedNice system, what makes this pattern important is that its a wick pattern + CS pattern, (wick)short/long + (CS)Bull/Bear means sell, (wick)short/long + (CS)bear/bull means buyIgnored
Disliked{quote} And i think also that the point of strength of this "entry method" is that the SL is tight compared to the potential TP: If you lose one, you'll recover with interest in the next tradeIgnored