Thursday, January 9, 2020

What do I mean with confirmation

When I consider buying longs near or at important dynamic Support levels (MA's), I need confirmation to actually do so.

This confirmation can consist of an important confluent static Support level, a bullish Japanese Candlestick reversal pattern and/or an oversold Slow Stochastic reading. Two of these three will ususally do.

When I consider buying shorts near or at important dynamic Resistance levels (MA's), I need confirmation to actually do so.

This confirmation can consist of an important confluent static Resistance level, a bearish Japanese Candlestick reversal pattern and/or an overbought Slow Stochastic reading. Two of these three will ususally do.