Fugly it is not only the touch that you have to SEE, u need to see a combination of the other things. RN, immediate S/Rs, tightness of MAs, confluence of several MAs. So if u don't detect some combination of that info you should be able to filter out many possible touch trades candidates. From the material I saw on the other thread I would see that PA action would be utilized when a touch trade was occurring off of pure S/R or Round Number, where no MAs are involved. That may be the time that a COB and PA is utilized.
J
J
Dislikedthx for the reply blackcat and Jess,
but if we take the trade on the touch would'nt it be a lower probability trade? Reason is how do we know its going to bounce of the touch even if we follow clay's rule of waiting for it to retrace 1 pip after touch before entry thats not very much confirmation. It could still blow throgh the 10 ema and go and bounce off the 34ema which would result in a loss even if it is a small loss of 10-12 pips. Or if we're trying to play the bounce off the 35 it could blow through and then go on to bounce off the 50ema...Ignored
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