Quote:
Originally Posted by Harry Potter
So you guys use candlestick patterns exclusively when price neares an s&r level?
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Hi Harry,
Yes, we use price set-ups or triggers on & around our views of the pertinent support-resistance levels.
Price structure is a function of supply & demand, period. Nothing occurs until sufficient supply overwhelmes demand at resistance, or sufficient demand overwhelmes supply at support.
Once that balance rights itself, we're off to the races. Everything else is secondary.
All the fancy chart patterns, indicators, moving average crossover signals, oscillator extreme readings blah blah, are irrelevant. It's all about how price reacts on & around it's natural support-resistance balance or value levels, & how you adapt your trading to it's ebb & flow which will dictate whether you're a net winner or loser over time.
Begin to comprehend & understand that simple concept & you'll progress your profit curve dramatically
