2009.05.30 RULE OF THUMB: DO NOT REVERSE ON BREAKOUT CANDLES

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TheRumpledOne
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Postby TheRumpledOne » Mon Mar 15, 2010 9:37 pm

Another reversal is the M5 2-bar high/low break out.
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Postby Brookmyre » Tue Mar 16, 2010 1:44 am

TheRumpledOne wrote:Another reversal is the M5 2-bar high/low break out.


TRO, could you please post a chart to illustrate this?

Thanks
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Postby firstpip » Tue Mar 16, 2010 1:54 am

Thank you for the inputs TRO.. Appreciated.

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Postby Leviathan » Fri Apr 23, 2010 6:09 pm

Quick dumb question...Let's say the H1 candle is green, and a 3 pops up. As I understand, I'm supposed to switch to m15, wait for the candle to close, and if it retraces far enough to hit the trigger, I trade the reverse right? Isn't this potentially trading against the H1 candle?

Sorry for my ignorance, I'm still new.

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TheRumpledOne
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Postby TheRumpledOne » Tue Apr 27, 2010 12:00 am

No need to switch time frames.

Yes, you could trade against the H1. BE CAREFUL!
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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TheRumpledOne
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Postby TheRumpledOne » Tue Apr 27, 2010 12:02 am

Brookmyre wrote:
TheRumpledOne wrote:Another reversal is the M5 2-bar high/low break out.


TRO, could you please post a chart to illustrate this?

Thanks


Image
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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