Stats Entries : 2 Avoided loss: 2 Profit : 0 Loss : 0 I would be glad to see charts from commodities and stocks futures.
Edge Vs Stoploss Traders have some edge in their strategies that is supposed to increase success rate. The effectiveness of the edge depends purely on how price moves in desired direction without hitting the stoploss. Whats the point in having an edge which works well in terms of price moving in desired direction but often hits stoploss before doing so. A genuine edge will address this issue of hitting stoploss before price moving in desired direction. Such capability is seen in momentary momentum which is actually a subset of either a trend or a range. Such a momentum that is clubbed with the direction of the trend or a U-turn within a range is powerful and genuine edge to control the hit rate of stoploss. In fact the momentum based edge forecasts a loss and virtually removes the need for a stoploss, a revolutionary way to avoid loss in trading instead of accepting stoploss as a forecast for loss which comes with a fixed loss everytime. An edges based on some broad analytical stuff surely will lack the power to control the hit rate of stoploss, which affects the success rate, and thus loses the purpose of being an edge.
Good signal for Oil, but i`ve 'missed' that.I think it`s a downside of the method - you`ll miss a lot!
We have an emerging bullish rev.signal in Gold.We`ll have to wait and see if it closes down, then we`ll entry.
The Gold possible reversal is cancelled, as the price breaches the last local LH swing.We`ll wait and look for the retrace, for the possible bullish trend signal.
YES ! A Solid bullish reversal signal indeed Before that there are two events: 1. A disproportionate second resistance that invalidates a bullish reversal signal 2. A valid bullish signal (green candle), followed by an emergency exit (red candle), because the take off clearly failed.
Good observation and anticipation. Before that there was an event of invalid bullish entry signal because the second support level is not well above the first one.
Here is the textbook entry for Oil(correct me if i`m wrong).But i snapped it a bit late.Whould you enter that late signal??
Step #3 Trend situation For bullish trends look for two consequent supports (after major resistance). 1. There was major resistance 2. There are two consequent supports 3. The two supports are proportionate to each other.