Question on the mechanics of trading The Buy Zone

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daytrade5
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Question on the mechanics of trading The Buy Zone

Postby daytrade5 » Thu Oct 09, 2008 4:13 pm

TRO........let me say again, accolades fall short of expressing my thanks for all that you do. I have a question concerning trading the Buy Zone. This comes from probably over complicating things especially when considering the hourly range information.

1. How should I intreprete the hourly range information?

2. I just entered a trade Short that reversed on me and traded above the open so I exited the trade. The market went on to trigger a Long trade which I took figuring if down wasn't the right direction then up must be. The market fell short of the profit target. I suppose I could have got something had I been quicker. Damn if it didn't immediately reverse back Short. Of course I didn't take the Short again for fear of getting whipsawed. Naturally as it always seems to happen with the market, it accelerated to the downside leaving me with 2 back to back losses wondering what the hell just happened. I attached a screenshot for your review.

3. When do you take a reversal or do you? Any insights would be greatly appreciated.

Regards, Ken Pollard
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TheRumpledOne
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Postby TheRumpledOne » Fri Oct 10, 2008 1:34 am

You have the old range indicator. Use version P2.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

Please do NOT PM me with trading or coding questions, post them in a thread.

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TheRumpledOne
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Postby TheRumpledOne » Fri Oct 10, 2008 1:37 am

You can see price moved down over 100 pips and you wonder why it reversed when you went short?!

Look to the left and you can see price is in a support or congestion area.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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