Hi,
There's a sentense in the following that's hard for me to understand....I mean english about trading:
You can do it on the break out of the forth day's highs when it breaks above the previous four days-----This sentense talks about 2 breakouts, what's the meaning exactly? Please give me a simply example to illustrate this.
or you can position when the move is above the high of the established bull move-------"the high of the established bull move" means the highest point of this trend?
Thanks.
There's a sentense in the following that's hard for me to understand....I mean english about trading:
QuoteDisliked......When you are convinced a bull trend has started, look now for a four-day reversal. At that point you shall call
that wave one of buying. Look further and see if you have any other four-day counter trends. If you can point out another, let us call that wave two. And then look for a third. .....
On your current charts, look for a market that is established as a bull market. What you want to find is a possible four-day counter trend starting to develop. We want it to be in the first wave of buying in the established bull market. You could look at the second four-day counter trend development but
we want the most powerful opportunity.
You will want to take a position on the first four-day counter trend in the direction of the bull trend. You can make it one of two ways. You can do it on the break out of the forth day's highs when it breaks above the previous four days or you can position when the move is above the high of the established bull move......
You can do it on the break out of the forth day's highs when it breaks above the previous four days-----This sentense talks about 2 breakouts, what's the meaning exactly? Please give me a simply example to illustrate this.
or you can position when the move is above the high of the established bull move-------"the high of the established bull move" means the highest point of this trend?
Thanks.