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I had trade GBP using MKS Trendlines(MMTS system)
I had attached the charts.
Hello,
We go long if the candle closes obove the MKS trendline and short if the candle closes bellow, but what we do if the candle closes too near the trendline?
Also do we have to close and reverse our position every time a candle closes at the opposite side of the MKS trendline?
What are the rules when price meets with an old trendline?
We go long if the candle closes obove the MKS trendline and short if the candle closes bellow, but what we do if the candle closes too near the trendline?
Also do we have to close and reverse our position every time a candle closes at the opposite side of the MKS trendline?
What are the rules when price meets with an old trendline?
Thnaks for your help
Best Regards,
You should read the Monica Korsec book to have the right answer. She posted some time ago here that she will release the book for free.
ever read the book long time ago...
It using analysis of price action (candlesticks), MKS trend line (not sure what it is?), price projection, and fibonacci as target.
also some explanation when trade in the news.
not bad for 130 pages of book, for me...