I've been looking at some of the holy grail systems, but I want to stay closer to using mainly candlesticks as opposed to too many indicators. Right now I mainly watch BB's and MACD. I don't think the MACD really does me any good at the moment, but I see the value of BB's. I'll probably test a longer timeframe system out soon, since I haven't ventured out of the 15/30 minute charts yet.
But anyway, I'm finding that solid examples of any good reversal patterns are few and far between. Some of the chances I've been taking have been what I like to call "struggling ascensions", where resistance is being broken but barely. Even though the price closes higher as the middle BB is approached, the bottom wicks are very long - which forces me to make my stops big. But I'm not being greedy. My t/p I usually leave at 10, but sometimes I see a need for 30 or more as a s/l, because of the long bottom wicks.
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