Postby Jalarupa » Fri Jun 10, 2011 4:23 am
Hey newscalper,
Well I normally enter via limit order and market order off the timeframe that I am trading... If I have my analysis correct then I leave enough space to be a little wrong without taking too much heat in terms of my account balance, and when CC'S start closing my way I add on pullbacks around key Fibonacci levels, mighty zones and the like... The occasional rat does creep in too but its normally off the big breakout move.
Regarding over/under... well...
If you want to start reading price action in an interesting way, stick TRO_MID onto your charts and draw Fibonacci retracements from the dot extremes or between dots at semafor points (any time frame)... then let me know what you see around the 61.8 / 50 / 100 / 38.2 levels... and sooner or later you just see it without the levels... it becomes a lot easier to see the lines which are being won and lost in the battle for supremacy... Go with that flow of sentiment and you'll see that as long as its not closing over a line in the sand in the direction of loss... then you are on the right track...
Thanks to MO & TRO for all I have learnt on the forum and to the great teachers who continue to inspire. You people make me want to trade better everyday.
Peace
Last edited by
Jalarupa on Fri Jun 10, 2011 5:45 am, edited 1 time in total.