DislikedGyfu,
I always trade with the price channel.
5 smoothed, lo
5 smoothed, hi
I set my stops at the top or bottom of the
price channel. The price channel will expand or
contract depending on volitility in the markets.
Just go with it and try to keep things simple.
When price is in the price channel that means the market
really doesn't know which way it's going to go. Sooner or
later it will break the price channel to the upside or downside.
Hope this helped you...
snarlyjackIgnored
I guess your comments make sense that if it is too close, might as well stay away from it and wait for the market to move.
Thanks a bunch for this useful advise.