Quote:
Originally Posted by chehab
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Hi Hytten
Thank you for the chart u displayed.
U made it clear--that the T/L was enough
But with ref to T/L theory, the T/L itself is an independant strategy
and very reliable for entry especially on higher TF--
For this I dont see any advantage in using sideline indicators such as AO or AC--
Maybe I need to do more practice on this strategy just to eliminate the confusion created by indicators and the TF
Anyhow--thanks again for your words--and your new charts are
always appreciated
Rgds
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Hi Chehab,
I highlight trendline because as per your chart you were trading counter trend. Which is usually much more risky and the move may just be temporary and short.
If you are new at it perhaps you want to just follow the trend first..and buy on dips in this case the default Ozfx setting should be sufficient. As you can see from my chart when u follow the trend the reward is much bigger.
Not sure of the time frame you are using but double checking for long term support and resistance on daily or weekly gives u a higher probability trade. I know i used to hate doing that too but it helps
Anyway there are a few variation to this strategy, mainly with more indicator and arrows to pinpoint entry, alert, EA and dashboard.. But I don;t think it would be rite for me to share it on Oz' thread. Could PM you if you want.