coolncalm wrote:GT3RS wrote:CC. I'm getting rather confused and a little frustrated now.
I thinkn that AUDUSD short was a text book setup according to your strategy, yet, you say you won't "gamble" around the monthly pivot!
What gives!?
You have asked for clarification before and I did tell you that a retrace (i.e. any **-RR) goes
towards/ beyond MP after a higher TF alert. Now what is confusing about wanting to know which one it is before entry i.e. if the retrace does bounce before MP or break through it before entry? If a retrace entry opportunity occurs after the confirmation, the choice is clear.
If I wasn't clear before, then my apologies - my English teacher must have taught me wrongly. CTS makes absolutely
NO (again
NO- repeated for clarity) attempt to second-guess price at MP. It never does/will. I don't know any successful randon walk predicting systems that do. I believe it is only best to follow fast upon confirmation. Price behaviour at MP is not a pre-determined CTS condition - it can't tell that price will not break through MP. All that it can prescribe at MP (especially at MP during a retrace) is confirmation first then entry.
In fact, always observe first what price does at MP in a retracement before entry. It is the very first signal that a trend change may be afoot (and when a trend wants to change, it usually does regardless of what system the trader is using).
Please if by chance, anything I have said above is unclear, let me know.
Cheers,
CC
)?
But if you'd be kind enough to start with defining MP cross & MP bounce. That would certainly help!