Saturday, March 14, 2009

Force Entry

What do we do when there is a Force signal?

First check whether its at a Support/Resistance level.
Wait for a Double Top/Double Bottom.
If there is no DT/DB?

Robdee:I agree doubles forming on S/R levels are easy to see and easy to trade. What do we do when there is no double ? We have to look for trendline or fibo (tests, retests, breaks, fake breaks, bounces, rejects) that kind of thing, a lot trickier to get right imo. The good news is the 5min chart is typically rather good for "clear open V shaped doubles" that you cannot see on higher TFs.

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