Re: [dlevels] Re: HRC, identify the pattern...

[Neal Hughes <neal@xxxxxxxxxxxxx>]

You don't want it closer.

You want to give a B&B room, 

I should clarify:

The "basic" rule is that you get out soon because
a B&B should support within 3 bars of crossing the 3X3.
If it drags on (as in the PAYX B&B look-alike), you get out 
near breakeven

The next "basic" exit is the 3-period rule.

Both of those give a trader simple protection, keeping losses
small.

The "advanced" approach, once you have confidence in
your trading and Fib skills, is to give it room. Then if it
fails, you can exit on the rebound after the bad B&B does
support, and even enter another position at the lower support.
The second entry would be a trend trade, not a B&B trade.
Those two trades are handled completely differently.

Fun eh? 

Luckily my family is running errands, or they'd be whining
"are you on the computer again"??

-Neal.

At 07:42 AM 10/26/00 -0400, you wrote:
 

The result is that B&B's should be low risk and very profitable
on
average... This is a very important issue.. Figure it out... 


I can't find a nearby "K" on the intraday chart that would
have put the stop closer.
 
Kevin

eGroups Sponsor 

To unsubscribe from this group, send an email to:
dlevels-unsubscribe@xxxxxxxxxxx



---
DiNapoli Fibonacci techniques -
http://www.fibtrader.com









eGroups Sponsor




<img width="468" height="60"
  border="0"
  alt=""
  src="http://adimg.egroups.com/img/9624/11/_/_/_/972956727/funfreasyPets468x60.gif";>









To unsubscribe from this group, send an email to:
dlevels-unsubscribe@xxxxxxxxxxx