DislikedHi P.Dean and everyone,
do you think that any of the setups that ocurred in the highlighted period where good for entering a short as a smbt?
the price where so chopy that signals many times but only took of on the last signal.
According to the strategy we are better to let the price shows if it will continue with the striking down trend and then wait for the next smbt if it happens?
what do you think?
best regards!Ignored
as long as the band is striking, it is ok to take a shot at smbt.. but remember that the first smbt signal is always supposed to be the strongest.. the ones that come next off the same move, its weaker especially if the first smbt signal was a fake out or did not break the LL/HH point..
now your highlighted areas are ranging time after the down move with band still striking.. so the signals are valid.. however i see that none of the signals with the correct pending gets trigger till the last one which turned out to be a winner...
but, now lets say that they do get you triggered during chop/range and does not run and stalls... now at this point if you keep making quick exits and re-entry, then one can get chopped around pretty severely and most likely after a few losses in the same area you will not be present for the one that it actually turns into a winner... so that is why it brings us to the exit strategy that i talked about yesterday when Luis asked me a question (which he never said thank you.. lol, its ok though).. I recommend to refer to that post one or two pages back.
meaning you make one trade instead of a few losing one and still be in the trade to not miss the run, with one risk of sl hit.. but saves you from many losses and gives the trade the development time for the Trend continuation or final reverse.
keep in mind, everything that i throw in during the days of trading are key stuff that must be taken note.
klaxton.. thank you for your explanations as well.