TheRumpledOne wrote:Never ever enter at the midpoint... that is where you want to EXIT a bounce/retrace!!
Hi there,
Many thanks for clearing that up.
All the best,
scotty_dog
Moderator: moderators
watzdorf wrote:Here is how I use s/r:
if price hits s/r twice -> go short/long at s/r
if price hits s/r only once, I take the low/high of that bar to go short/long.
in other words: if price moves above the high of the bar that created the support (s) ->short and vica versa.
I use mental stop 1 point above/below s/r
I don't use midpoint
hth
alex
watzdorf wrote:As I said above, I use it on stocks and futures (1 and 5 min charts) I didn't use it on forex yet, but I am quite convinced that it will work there too.
alex
scotty_dog wrote:watzdorf wrote:As I said above, I use it on stocks and futures (1 and 5 min charts) I didn't use it on forex yet, but I am quite convinced that it will work there too.
alex
Hey watzdorf,
It would be great if you could upload a screenshot or two to illustrate the set-up and your thinking.
Cheers,
scotty_dog