Good to know. It's great that experience can be transfered in this type of forum. This EMA tidbit can definitely make a difference. Maybe you could add an addendum to your rules, something like, additional considerations, and do a brain dump of the common things you look for, or watch out for, like EMA5/EMA20, Murray lines, major pivot resistance, etc. That would be cool.
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Perry, on the chart attached, I seem to be taking trades like the first one instead of the second.
Is there something I'm missing that should prevent me from taking the first trade?
Would you have taken the first trade and if not, why?
Perry, I'm looking at the 3rd setup again in Post #110 to understand the reason you did not identify the setup bar as the candle immediately before or even after the one you selected. The 5 had already crossed the 20 in the preceding candle or you could have wait another couple of candles for a confirmed setup. I'm trying to understand the nuance of your experience I don't have. Is the reason also possibly because your setup bar touched the SMA20?
Yikes, I think I missed something big and have now confused myself.
In all of my prior questions, I have been using the setup bar and entry bar interchangeably.
In that third example from Post #110, is that setup bar also the entry bar or not?
Same with the first example on that chart?
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