Hello Guys and Girls,
Thanks for this wonderful forum. It is not only about the shared material but also the knowledgeful discussions.
I would like to ask what experience everyone has regarding the best retracements to trade on. I myself have tried several on different timeframes and despite looking for the best confluence of Pivots and Fibs, I get stopped out 70% of the time. I have often followed this method of uptrend meaning higher highs and higher lows, but what happens when a retracement makes a lower low to your point of confluence. Should that be considered a retracement for a long and should it be stayed away because it has made a lower low. the same problem arises when I am looking to go short on retracements?
Can anyone enlighten me on this? I have read several books, but this matter still remains unsolved.
I am sure this will help other members who are just as confused.
Thanks in advance.
Thanks for this wonderful forum. It is not only about the shared material but also the knowledgeful discussions.
I would like to ask what experience everyone has regarding the best retracements to trade on. I myself have tried several on different timeframes and despite looking for the best confluence of Pivots and Fibs, I get stopped out 70% of the time. I have often followed this method of uptrend meaning higher highs and higher lows, but what happens when a retracement makes a lower low to your point of confluence. Should that be considered a retracement for a long and should it be stayed away because it has made a lower low. the same problem arises when I am looking to go short on retracements?
Can anyone enlighten me on this? I have read several books, but this matter still remains unsolved.
I am sure this will help other members who are just as confused.
Thanks in advance.
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