Quote:
Originally Posted by Ingot54
The only rider I would impose, is that you also had examined the WEEKLY chart too, to confirm trend in that TF too.
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Weekly is attached to this post. We're looking at trend only here, right? Ignoring stochs?
If we're only looking at trend, which trendlines should we pay the most attention to? On this weekly, the lines start to go from "up" to "flat" at/around the 27 MA. From there until the 2MA, they are down, with the 2MA going up.
Quote:
Originally Posted by Ingot54
At the very least you should harvest a few nice pips with that entry, but be aware of how fickle daily charts can be - it will require daily monitoring.
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No problem! I've setup a blog to do just that:
Choice not Chance
We're exiting on fishnetting, correct? How much fishnetting? Is it possible to draw the line between "ok that's fishnetting, exit" and "eh, not yet, wait another bar to see what happens" ? I guess here is where personalization comes in.
Quote:
Originally Posted by Ingot54
Further comfort could be taken from those 4 candles with the lower tails all bouncing off the 50% fib lines (or near enough - they certainly clearly respected that support).
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So that showed the 50% was strong support. Seeing as how support turns into resistance, and that being strong support: would it turn into strong resistance, or would that make it weak resistance?
Also, Ingot, how do you feel about trailing the stop by 200 pips or so? More personalization? I would hate to see my current +278 USDCAD trade reverse all the way and end up losing 200-250p when I could have trailed it to breakeven, +28, or +78.