Horizontal Line trading
Posted: Thu Jun 26, 2014 6:54 pm
Hey guy's,
I was hoping you could all share your experiences and or trading strategies when it comes to trading with horizontal lines. Call it any line based on whatever you like - Fib line, major price resistance, weekly / daily open.. whatever...
If your day trading and referring to the 1, 5 & 15 min charts, would you wait for a a 5 or 15m close? Or just see the price hover above it for a few minutes? Or just buy as soon as price gets there?
Would be great to get some feedback seeing as its the most common way to enter a trade.
Thanks heaps.
I was hoping you could all share your experiences and or trading strategies when it comes to trading with horizontal lines. Call it any line based on whatever you like - Fib line, major price resistance, weekly / daily open.. whatever...
If your day trading and referring to the 1, 5 & 15 min charts, would you wait for a a 5 or 15m close? Or just see the price hover above it for a few minutes? Or just buy as soon as price gets there?
Would be great to get some feedback seeing as its the most common way to enter a trade.
Thanks heaps.