Are you more comfortable buying or selling previous highs?
- Thread starter 1a2b3cppp
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Personally for me it depends on the bigger time frame. If I see price has a positive chance to run after taking out the Previous High/Low then I may be inclined to add, take profits or hold. If we are at major sup/res I usually wait and see what price unfolds and make a decision based on that action.
It really all just depends on my current situation at the time, keep in mind my decisions are discretionary. So to answer your question, I am comfortable with both because in the end I trust my experience to make logical trade decisions with positive R:R, even if that involves fading or just playing the range. If I am wrong, I usually find out pretty quick and move on.
It really all just depends on my current situation at the time, keep in mind my decisions are discretionary. So to answer your question, I am comfortable with both because in the end I trust my experience to make logical trade decisions with positive R:R, even if that involves fading or just playing the range. If I am wrong, I usually find out pretty quick and move on.
Buy low sell high. By the time you go long, hoping for a break out I would have already made money.
As I mentioned some time ago, I'd buy the second graph. Stop would be somewhere just below the apparent swing low just forming. I'd then tighten the stop as price approached the previous high. If price breaks through and runs, great. If it fails and reverses or gives a false break then reverses who cares. My stop by that time protects break even including commission and slippage. In any case I can sit back and objectively just watch, playing with the house's money so to speak.
Quote from Lucrum:
As I mentioned some time ago, I'd buy the second graph. Stop would be somewhere just below the apparent swing low just forming. I'd then tighten the stop as price approached the previous high. If price breaks through and runs, great. If it fails and reverses or gives a false break then reverses who cares. My stop by that time protects break even including commission and slippage. In any case I can sit back and objectively just watch, playing with the house's money so to speak.
So you buy price starting to go back up after a retrace.
Well that's a good strategy but wasn't one of the options
if u're into doing this swings high/lows, why not add what people who do that usually add : the famous fibonacci. Now apparently depending on how far it runs back inversely to the first move ( 23, 38, 50, 68, 75 %), some people make decisions on buying the high or selling the high.
But then some people say that it works sometimes, and sometimes it does not work.
But then some people say that it works sometimes, and sometimes it does not work.