Most system that I have seen do not consider the time factor in making the decision other than the timeframe. This is a bit puzzling as the charts is telling us about price and time.
How many of you actually have time factor in your trading rules. e.g If price do not go lower than 1.1234 this Friday, go long on Monday etc ? Something like Support/resistance with time factor built in?
I'm thinking of using something like this sometimes to increase my position.
1) major trend is up
2) price hit support level - enter long position
after 2 days (dont increase position when price touch support too quickly, that's noise)
3) price hit the same support level again - enter another long because it's a strong support (the stronger the support in a bull trend, the more likely the price to rally, so we just bet more on something that's more probable).
Anyone actually doing something like this?
How many of you actually have time factor in your trading rules. e.g If price do not go lower than 1.1234 this Friday, go long on Monday etc ? Something like Support/resistance with time factor built in?
I'm thinking of using something like this sometimes to increase my position.
1) major trend is up
2) price hit support level - enter long position
after 2 days (dont increase position when price touch support too quickly, that's noise)
3) price hit the same support level again - enter another long because it's a strong support (the stronger the support in a bull trend, the more likely the price to rally, so we just bet more on something that's more probable).
Anyone actually doing something like this?