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Trading When the Market Goes Up, Down or Sideways

 
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cbnCallout

Trading When the Market Goes Up, Down or Sideways

It does not matter whether the market is going up, down or sideways, I'm up 302 pips this morning (October 3, 2018). Follow me in Apiary Fund Forum at: Apiary Pivots and 347 PIPS.

 

Wed, 10/03/2018 - 9:01am
 
photoguyJeff

Courtney,
Thanks for your help. It got me out of Silver 3 and into Gold 1. Now to proceed. I need to learn to read the 3 bar reversal better to make sure I see it properly. If there is a lot of resistance or support in the way of a move in a tight market, do you wait for that to open up and just trade later in the day? Or how do you handle non-trending times. You said you trade every pivot but some of the yellow ones yesterday did not indicate correctly and then moved locations. How do you handle those issues? I decided to just try reading the charts and going by what I saw and could read in the candles. I need to study candle patterns more. Got enough right to move up a level, but sure have a long way to go on that. Thanks for sharing.
Jeff

 
cbnCallout

Your welcome Jeff and congratulations on making it to Gold 1.

Ques: If there is a lot of resistance or support in the way of a move in a tight market, do you wait for that to open up and just trade later in the day?
Ans: It is best to wait for an expansion rather than to try to trade during contractions.

Ques: Or how do you handle non-trending times.
Ans: I continue to trade when the market is going sideways but still has a measure of volatility,

Ques: You said you trade every pivot but some of the yellow ones yesterday did not indicate correctly and then moved locations. How do you handle t hose issues?
Ans: Sometimes the pivots will give you a false or delayed signal. That's the reason other signals in conjunction with the pivots are beneficial. I don't pay any attention to the color of the pivots but rather I watch for the 3 candle reversal and the pivot will confirm if I'm trading in the right direction. I can normally discern when I see one candle start to change colors that a reversal is about to occur. I can either place a trade at that point or wait either for the pivot or the 3 candle reversal.

I think your doing great. Practice is the key to success.

 
cbnCallout

See most recent posting entitled, "How You Can Tell You're Almost Ready for Funding".