Dislikedhello all,
i've been studying clay's dance manuals for a couple of weeks and just finished reading through clay's original thread post by post. took me a week just to study the thread but it was well worth the effort and answered a lot of my questions. I have just begun this thread and am at pg30 thx to kostas and lee for there great input and everyone else as well who helps out.
Today was my first day of dance and so far i grabben +3pips, decided to close as the trade wasnt moving much and its nearing employment claims time
earlier today...Ignored
You hit the nail on the head here..... .DEFINATELY not a 'Dance' trade.
The price did not hit the 10ema and even if it had, it was 4 bars.
That said, this was a PA trade around the PIVOT R1 (also not in the rules). The 4th bar failed to close below the pivot and was a semi-hammer, despite not being at the bottom of a move, which you might read as resistance.
Though....,again... not a 'dance trade' and you were right to pass on it.
The original thread and the 'newer' manual are very strict on entries and whilst this thread is certainly 'looser' there are still enough opportunities to enter with the dance rules - you just need to be patient enough for them and not to be tempted by other trades.