Quote:
Originally Posted by Ray_1
Hi Jimmy,
I will wait for price to reach these levels then look for an IB/OB to short. Am I right on this?
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Ray - you are still looking for the 'right' answer instead of what interests you. Of course you could wait for those major levels and as I am already set up thats what I am waiting for. However if I was looking for an entry (which would be short) then Jimmys example was a great opportunity if you use the IB approach. I have marked a couple others on this chart that would depend on a retest after a break (obviously I am looking particularly at the downside but the upside is marked for completeness as there will be some countertrend reaction at some point if you feel brave enough). Whatever triggers you use would of course be up to you. But do you get the idea? Move away from right or wrong and consider how you would build a strat that suits your profile around these key areas