rustybucket said:Hi guys, hope i have the right post here, i've found help here before, maybe this time too!
I was waiting with baited breath for the MM series to continue; now the last few are out I'm a little confused by the Short-Term long entry given as an example in MM10, maybe one of you might be able to help.
In MM09 for a swing trade entry Michael identified a return to the equilibrium of a daily candle as the area in which to look for OBs forming, with perhaps an eye on the resistance area above/below it. In MM10, though, (as well as a potential turtle soup entry) he uses only a return to the equilibrium of the wick of the down candle in a +OB as entry, even though this OB itself also forms a swing low. I thought it might be because in the example in MM10 we are moving rapidly away from this low and the swing entry in MM09 was referring to a return into an area of interest in a previous swing high/low but I went back and looked over i.e. the EURUSD daily chart back to around Sept. 2014 and I noticed that very often the daily candle either is moved away from too rapidly or, if there is a return, this return often moves quite deeply into the OB body before moving away, much more in line with the idea in MM09.
I feel like i'm missing something fundamental in the framing of this idea, is it a ranging/consolidation approach vs. a trending approach or am i missing something even more basic?
I'd appreciate the help, thanks in advance!
Jack said:It saddens me that I had to delete that last post by Chris.. but he requested it.
Jeronimo said:[member=269]sqa[/member] Don't mind those winners who posted above. If it works for you use it. Period. Not a fan of ict but your posts are appreciated.