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"Always be fading"?
- Thread starter IronFist
- Start date
Quote from NakedNote:
It's a little different when the instrument is doing multi/all time lows or high, you got nothing to hold onto and fading it would be pure stupidity unless there is a reversal formation with ample confluential signals backing the call for a great r:r play.
Last but not least, we have even spoken about time frames here.
NN
Sure, but the quote was "ALWAYS be fading". Not "fade selectively into strong support/resistance" or "fade at overextended extremes, with the major trend in your favour" - but ALWAYS be fading.
You have to be able to identify them correctly. The setup must confirm by breaking the previous High (for Bottoms) or Low (for Tops).Quote from JSSPMK:
Meaning?
They are two (actually one, just inverted) of the most mis-understood pattern setups around.
I don't trade them as such, but I do see them after the fact.
Quote from NakedNote:
Meaning every single time price does a second test of support or resistance people rush to the masses thinking double top/bottom.
NN
Ahh, OK. I used to think the same looking at charts below 15m, the greater the time frame, the greater the opportunity, how you tame the beast is another matter. I have a journal going dedicated to that. Always a learner (borrowed quote).
Quote from MandelbrotSet:
I don't trade them as such, but I do see them after the fact.
There is an extremely thin line between hindsight & real-time participation, if we learn how to take advantage, then we learn how to make mega returns vs losses.
It's about belief in oneself & risk control. It's just a game to screw with out minds.
Here's what I'm talking about.
Someone posted an indicator with buy and sell signals. I coded it and realized that if you faded it you would do much better. I attached two charts:
http://www.elitetrader.com/vb/showthread.php?s=&threadid=131870
Someone posted an indicator with buy and sell signals. I coded it and realized that if you faded it you would do much better. I attached two charts:
http://www.elitetrader.com/vb/showthread.php?s=&threadid=131870