WHAT IS A THIRD ENTRY?

Discussion in 'Trading' started by Darc, Oct 30, 2023.

  1. Darc

    Darc

    "Always look for two legs. Also, when the market tries to do something twice and fails both times, that is a reliable signal that it will likely succeed in doing the opposite" Al Brooks.
     
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  2. maxinger

    maxinger

    Please illustrate with graphics/diagrams.
    A picture is worth a thousand words.
    And it can explain 3rd entry better.
     
    Last edited: Oct 30, 2023
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  3. Darc

    Darc

    "Whenever the market tries to do something twice and fails, it usually then tries the opposite. This is why double tops and bottoms work and why traders will not develop conviction in a reversal until the old trend extreme was tested." Al Brooks.
     
  4. Darc

    Darc

    [​IMG]
     
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  5. maxinger

    maxinger

    upload_2023-10-30_20-9-40.png

    1st entry - fail
    2nd entry - also fail
    3rd entry - take reversal signal. pass or fail?






    upload_2023-10-30_20-9-18.png

    3rd entry - sometimes pass, sometimes fail.
    The market can really move in various manner/fashion/temperament ...
     
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  6. Darc

    Darc

    But if Price was approaching Support or Resistance...

    Buy Support
    Sell Resistance
    Trade with Stops
    Chase Breakouts

    KISS.
     
  7. Darc

    Darc

  8. maxinger

    maxinger

    upload_2023-10-30_20-29-8.jpeg



    The last time I drew S-R lines was 2 decades ago.

    I like my charts which are very simple/plain.
     
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  9. tsfx

    tsfx

    One of the best replies i've ever seen (Y)(Y)
     
  10. That kind of technical analysis is like astrology for men.

    The horoscope says this about me, today:

    Oct 30, 2023 - In your case, the phrase "turning point" has some meaning. This turning point could take the form of a new person or a key event that changes things forever. Sometimes amazing things we hear about really do happen. One of these things may be happening to you in the coming days.


    Do you believe that any of that will happen? That a "turning point" will occur for me?
    Look at your picture again and try to find a better explanation of how it will work, because nobody believes in that garbage.
     
    #10     Oct 30, 2023
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