[Ray_1]

Originally Posted by JimmyMac

If you actually isolate & strip back much of what these guy’s post up with their charts & commentary, you’ll see that they’re constantly waiting for price to test or confirm a potential bias.

That’s kind of what you’re referring to in your post right there.

It’s all very well having your support & resistance levels plotted or your trendline, fibonacci or pivot levels annotated on your charts, but if you don’t allow price to actually prove it’s intent or test these price assistors before engaging, then you might as well not use them in the first place.

The central theme of their analysis & trade planning revolves around the process of intent & confirmation. In order for them to execute away from one of their support or resistance zones, they require price to test or confirm it’s intent. The reason they adopt that practice is to help reduce the possible occurances of false breakouts, continuations & reversals.

It doesn’t mean they’ll be totally immune from those instances, but at least they won’t be trading blind.

You can use that principle across whatever technical tools you choose to utilize.

Hi jimmy,

How many times must a s/r, trend lines fibo levels or pivot points be tested to be confirm as a potential bias?