BuyZone and Support/Resistance

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alichambers
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BuyZone and Support/Resistance

Postby alichambers » Sun Jun 24, 2007 3:41 pm

Hi,

Does anyone discount a BuyZone/SellZone trade if the price is near support or resistance?

If so, which support/resistance lines do you use - and what rules?

Thanks,
Alex

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TheRumpledOne
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Postby TheRumpledOne » Sun Jun 24, 2007 5:47 pm

Use the TRO DYNAMIC FIBSSR indicator.

If there is resistance in the long zone, don't enter.

If there is support in the short zone, don't enter.

If you "break" this rule and the trade goes your way, be quick to take profit because there's a good chance it will reverse.

You can always reenter on a retrace.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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Postby vittorio » Sun Jun 24, 2007 6:25 pm

Hi,

If we use Dynamic SR in combo
with the BuySell Zone on Forex
(on a 5 min chart)
which setting we can use
for 'iperiods' parameter ?
(i.e is 12 plausible? )


Thank you
Vittorio

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Postby TheRumpledOne » Sun Jun 24, 2007 6:35 pm

I would NOT change the iPeriod parameter.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Postby alichambers » Sun Jun 24, 2007 9:58 pm

OK, thanks.

How far out of the Long/ShortZone should the DynamicSR dot be?

Is just outside OK, or do you not take the trade until the DynamicSR dot is +/- say 5 pips away from the zone?

AC

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Postby TheRumpledOne » Sun Jun 24, 2007 10:26 pm

I would think it should be at least 2 pips outside the zone.

Be in the moment... if the price is moving fast, you can just jump in the trade and exit with a profit when the price stalls.

So if the price is below the short zone but moving up fast and crossed the short zone, you may just want to jump in the trade and be ready to exit at the resistance price.
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