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An indicator to avoid the chop and slop????
Started:October 26th, 2013 (06:45 PM) by jpstyles2002 Views / Replies:2,596 / 13
Last Reply:October 27th, 2013 (11:34 PM) Attachments:1

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An indicator to avoid the chop and slop????

Old October 27th, 2013, 05:35 AM   #11 (permalink)
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DionysusToast View Post
IMO - there really is no 'chop'.

Indeed. I simplify it into just one choice - do I need to go up or down a timeframe. After all a candle is itself nothing more than a visual summary of the wave pattern and price structure that happened inside it.

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Old October 27th, 2013, 07:12 AM   #12 (permalink)
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DionysusToast : IMO - there really is no 'chop'.

Markets will make a move, consolidate (chop/accept/rotate) and then make another move.

i second this explanation. good one

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Old October 27th, 2013, 07:55 AM   #13 (permalink)
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Silvester17 View Post
the vwap has about the same value on a 2 range or 60 min chart. also you don't need to guess what period to use. normally I try to avoid any trades between the upper and lower 1st standard deviation bands (for me that's also the value area). however, there's one exception. in strong trending markets if price pulls back to the vwap line, that might be a good opportunity for reentering the market.

For those who use the Ichimoku chart - there are well defined chop / or rotational zones to see.
The indicator (disucussed in other threads) is known as KUMO or cloud. Is price within this zone
the price may move many times from border to border before it leaves. Trading within - like
Silvester points out with VWAP 1 - is difficult - and trade starts should be avoided within.
Best settings to see those "to undecided zones" are the 30 minute chart - as well as the 1 day chart.
It needs some experience to make money even then... for all others - this zone means:
Stay at the sidelines!


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Old October 27th, 2013, 11:34 PM   #14 (permalink)
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wait for price to surpass the high or low of the previous period

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