I was talking to the eotpro live room some more about measured moves today. The technique has been working very well for me. Today, I discussed how you can measure moves inside of moves, and pay attention to the confluence when two measured moves project to the same target.
Here is my 5-tick reversal chart so far today (click to enlarge):
You can see how watching for measured moves helps you understand the pace of the market. Even as it moves up to complete the ‘white line’ cycle, it pauses at the yellow target. The purple target is confluent with the white one, which gives me more confidence that it will be hit.
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on Friday, August 21st, 2009 at 12:55 pm and is filed under Trading.
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