TheRumpledOne wrote:
From what I see, the open cross ie "Buy-zone with a bias" is the better choice:
1. have a bias
2. set the zone above or below the open price
3. wait for a close inside of the zone (like SweetSpotGOLD)
4. price touches the trigger line and you act on it.
I don't like entering as price is moving into the zone (on wicks) as I want price to be moving in the direction of profit when placing a trade: if the zone is scaled to a larger chart then it doesn't matter so much because short term fluctuations have less of an impact on trade results.
"Breakout" is similar to the word "enemy" in that it depends which side of the line you are standing on.
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