bredin wrote:rushN4 wrote:MightyOne wrote:aliassmith wrote:spa wrote:aliassmith wrote:My H1 closed below my previous line in the sand.
Opened new trade 3 lot/45 pips and now at 3 lots/100 pips.
LiS = Line in Sand
obviously your choice.. why not use the ZL just pips lower? it just jumps out
Very true that is probably a better place for the line in the sand. I was just
going by MightyOne's post about 40% retrace. I think I will change it thou.
Please don't move ahead, there is more to talk about in this thread
Ok it looks like you scan the chart for the biggest candles on the chart and use the average range to calculate the Box. Correct? (+1/3)
What i dont understand is where comes this 1/3 from?
how do i calculate the 1/3?
Looks to me like its ensuring that a single candle cant wipe out your position, giving time to reassess and adjust lots.