TheOne wrote:TheRumpledOne wrote:If you were to draw a trendline connecting the lows, you would see the Yen bouncing off that trendline.
Remember, instructments usually do not move in a straight line, they wiggle! Give it some room to wiggle.
Also, the SL is one pip away from the entry in the opposite direction!!
Here is the thing. As we venture more and more into the Buy zone it is evident that its not as easy as we were made to believe.
When I first read about the buy zone I thought It was easy and I was to through everything learned out the window. But as time goes I see where this is not the case.
We have to draw trendlines, use sunday as the weekly bias, look out for weekly, monthly highs etc.
For people to trade this setup they need to be aware from the start that this is what is required. I wish all this was made clear from the start.
In looking over my charts I have long realized that trendlines were sometimes necessary (but this was never mentioned before) so I still have my ema's and an indicator or two to help with entries.
I think what 4x=0 is doing is great but I still would love to see a full description of this strategy (hint).
I never said TRADING was EASY. I said the Buy Zone was SIMPLE.
You do NOT have to draw trendlines, use sunday as the weekly bias, look out for weekly, monthly highs etc. Those are just "clues" - ANYTHING CAN HAPPEN! It's what most seasoned traders do almost as second nature.
Don't think for 1 second that just because you draw a trendline on a chart that the market is going to respect it - ANYTHING CAN HAPPEN!
What the BuyZone does is give you a statistical chance of a winning trade. You have to trade it. You must execute the entry and exit. If you hesistate, you could allow a winner to become a loser.
All you have to do is look at the chart and see that the price exits the BuyZone on one side, the other or both. That is why you have the statistical edge.