why not simple stuff
in an uptrend..buy
put stop below the low....
in a up trend all resistances break/fail.....so the resistance is NOT the target...do not exit there
many exerts say resistance is the target: nothing is more ludicrous
in a sideways market it makes sense to do that......but i do not trade where there is no trend
if resistance holds and support fails then you have a down trend..at least for the short term
there is no subjectivity in this
trade like a casino.....have an edge.....over time you cannot lose
they say 95% traders lose....i did too
i read 100s of books and got totally confused..i traded elliot wave for 5 years.......
now i laugh at what i did even though i lost huge money
now i wonder how i did.......and why do traders lose
i think it is because most strategies are subjective and with subjectivity to get tension and with tension.....self doubt........and stupid trades.
i found this method i suggested has very little subjectivity if at all: everyone agrees where the swing low is and that is where the stop goes and it is easy to know an uptrend and just how strong it is.
