My .02 for what it's worth.
No - it's usually best to wait for a confirmation. The AH strategy isn't infallible, espcially in ranging markets - it does help though
Yes - regarding candlesticks it's up to personal choice Wayne does not use them to my knowledge.
Given the different market conditions setting a general profit target is something that has been implemented by Wayne to make the most of a run. When price reaches that given point one then has to reanalyse and decide if the move has expired or if there is still room for more profit. Pulling up the stops to protect acquired profit is up to personal choice ( I do).
I don't see why not if you feel the TA warrants it as we are in a ranging market - Wayne has taken more than one countertrend trade as well to try to maximise - but he states it quite clearly that when he does it's a speculative one. Again - it's up to your comfort zone.
Welcome - hope I was able to help.
DislikedHi all, I have a question regarding entries. I am au fait with technical analysis, can draw a trendline and understand price action but given the reliability of the AH strategy is it just as good to open a trade when price touches a trendline (without evidence of it necessarily holding), fib level or s and r level?Ignored
DislikedIf you're with the main trend you should be ok, right? Or should one wait for candlestick patterns confirming the resumption of the trend?Ignored
DislikedAlso some people have been discussing closing trades early for profit rather than letting them run. This seems to be against the instructions of the system or is this now a valid part of the method? (I have read the thread through but can't find anything about it).Ignored
DislikedOne more thing. Is it now acceptable to enter trades against the trend provided strong TA exists to suggest there is a sufficient move to warrant it?Ignored
Nihil inimicus quam sibi ipse Marcus Tullius Cicero