Why Is The Obvious Not So Obvious?
- Thread starter nysestocks
- Start date
The first Bar marked by white H & L is the most important bar since that serves as the reference for every future bar.
Quote from XEC10:
Takes out previous close, confirming entry for short trade.
so X10..does that mean that we now have confirmation for a long entry..or do we wait for a pullback to go long?
btw..it is good to see that u replied with a direct answer showing exactly the bar u were referencing..as a picture can speak a thousand words
there is one main thing that has not been noted as of yet..and it relates to a topic that has been mentioned in the past..several times..and not just by members of TFF
it will become obvious what matters most..and to whom it matters most to
There is no conversation more boring than the one where everybody agrees.
Michel de Montaigne
A man never tells you anything until you contradict him.
George Bernard Shaw
George Bernard Shaw
Quote from The Oracle:
so X10..does that mean that we now have confirmation for a long entry..or do we wait for a pullback to go long?
btw..it is good to see that u replied with a direct answer showing exactly the bar u were referencing..as a picture can speak a thousand words
there is one main thing that has not been noted as of yet..and it relates to a topic that has been mentioned in the past..several times..and not just by members of TFF
it will become obvious what matters most..and to whom it matters most to
There is no conversation more boring than the one where everybody agrees.
Michel de Montaigne
I think bracketing the last bar could get you in a trade with small risk, large reward.
Narrow bars lead to wide bars & allow a small stop to be used. If price has decided to reverse up you'll be in. If it's just a trap like the previous HH, HL bar & decides to go down then you'll be in on that also.
The one thing that would complicate matters is if an outside bar formed after your entry. Then you would get stopped out & have to make a decision as to enter in the opposite direction.