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- mrnando replied Sep 12, 2007
The markets dictes how how pips there are to gain. If you are in a tight range, how can you expect to get a lot of pips. So he comes in and checks the charts and see it's not moving or stalled. Better to get out with some profits than to have it go ...
- mrnando replied May 25, 2007
But here is the other thing you missed. The market is in a short term down trend. There was a lower high. So, yes, I would have waited for the market to PROVED it was just a retracement. BTW, BUOB was on minor support.
- mrnando replied May 25, 2007
That's not how YOU trade them. It is a way to FILTER OUT FALSE BREAKOUTS! The next bar breaks to the down side. The bar after that is an inside bar. I haven't done a fib ret on this move, but this is in an up trend. how much has it pulled down ...
- mrnando replied May 25, 2007
Hey Mr Trend, Yes that is a valid BUOB, but I wouldn't have place a buy order until the market broke above the high of the BUOB. The next bar doesn't do that. It's a way to filter out trades. It's not hindsight, just make the market prove you right.
- Posts by Member Search: 'mrnando'