Disliked{quote} Thank you for your time... I have a last question, when you decide you will close your trades in a loss? When price breaches a certain pivot level or when you see PA is changing structure not in your direction? Probably also applicable for when you exit your trades in profit I ask this, because sometimes I have closed some trades in a loss after a huge breach o 100 level just to find out price retracing back, probably something that I have also to work in on the emotional way as when you see this kind of behaviour...Ignored
Please see highlighted excerpt of page 1 again;
''As price travels progressively away from weekly pivot it becomes more likely to go into correction.
61 S/R key zone 78R/S is Scott Carney's last chance for reversal (spikes stops taken before reversal) 100R/S another major zone.
Should price smash 100 S/R then you are in strong trend supported by fundamentals.''
If you are in a trade and price smashes 100R/S, what you should do is see if the smashing is supported by fundamentals before closing your trades blindly, some times, MM fades this levels to take out the weak hands. If you feel based on your analysis that nothing major has shifted fundamentally, then you should be ready to see it out, that is why you have DD sometimes. If you cant withstand DD then the method/trading is not for you. The edge is in the system, but you have to work out the edge by trading it to generate pips for you.
I hope this clarifies some of your concerns.
Green pips
D labour of a fool wearieth him cos he doesn't know how to enta d city
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