Registered: Mar 2012
06-30-12 06:37 AM
Of course not. Your supposed to enter into the price levels at the top or bottoming accumulation or distribution area in a move. The candle rules tell you how strong the move is... If it isn't moving fast enough probably a good idea to take profits off. If it's moving solidly in your favor hold it for the five or another count.
Cut your losers fast, keep your winners...
Buy the bottoms or sell the tops. The only place to enter a trade!
Quote from gaj:
range - i've been using some variation on 3 and 5 bars for a while now. they're not infallible, and can cause lots of heartburn if you just go into them blindly...but i've got it as part of my system and when i ignore them, i often give back hard earned money.