DislikedAs a rule of thumb confluence for J16ers is always on the chart, a MACD crossover and the RSI breaking 50 are of no importance to us when it comes to confluence.
Confluence is more in terms of price action. Fib levels over lapping, MAs, price pivot zones and round numbers.
Also for take profit levels I would still recommend using only price pivot zones as they matter the most when it comes to "where price is going"
g.Ignored
Again thank you for responding to my post. I have attached a Word document that I found on this thread that shows examples of PA. At the bottom next to an ateric it states,
*If a bar closes within 10% from its high/low in higher timeframes such as the daily, it normally is to continue.
Could you tell me, is this only releveant if one of the PA examples shown in the document exists or is it relevant all on it's own as in the chart I posted, where the close was within 10% of the low?
Attached File(s)
PA short summary.doc
29 KB
|
775 downloads