Brookmyre wrote:Hi Dragon....I also have a question about your ellipse candle.
I've seen you refer to the failure to close beyond the extreme before as an indicator of whats to come....and I'd like to ask, is it general price action your referring to (ie: multiple candles that fail to close beyond an extreme) or specifically the failure of a breakout candle?
It is just the general priceaction. Failures are important to make your decisions. I know you have to be quick that's also the reason why i ask everyone to handle just one chart.
If you play the bigger frames you can handle more
Thank you Dragon for replying.
Could you possibly post further about how failures help to shape your decisions, if you get the chance? After spending a lot of time reading NLA and Lukxs thread, this seems to be an area that isn't focussed upon, and any further light would be appreciated.
I've learned from my mistakes and I'm sure I can repeat them exactly - Peter Cook