Quote:
Originally Posted by mpower
I thought the same thing as you guys. Price missed my target by 7 pips  I closed that for +90.
I use digital filters to confirm validity of the patterns. I have also recently started trading a demo using what I learnt from this thread and Simbas other threads. I really do not have time to trade it that much, but at least it is a good start. Thank you very much Simba for your valuable contributions to this community!!!!!!! |
Thanks to you ,mpower,for contributing to the thread
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A general comment for everybody...In my opinion,Price patterns are very useful for entries,jointly with a trendfilter...in my case,I prefer to use digital filters for trendfiltering,and I acknowledge that there are many differnt valid alternatives,just choose whatever suits you best...BUT..I believe that exits are another different beast.
I believe that you need support/resistance plus a "general target area"and lots of feeling and momentum checking in order to exit well,yes,MSH/MSL do help...but they are much more usefuls at entries than at exits..IMHO.
Any comments?
Regards
Simba