I don't wait for any kind of close. If I see a setup and trigger I will jump down many timeframes to see how the market makers are building out the waves, price, and patterns. When I sense weakness I sell. It is perfectly acceptable to wait for a close, or a candle print. But since we get to color outside the lines here, we don't have too. Pendings set are entries at the touch of a level, and will never depend on a close.allisonmagic wrote: cool, but say you just pinned above the pivot or resistance level with no close, would you be looking to jump in before the body closed ?
If you are reading a particular candle... remember they will often have it display a strong pattern right until switching it at the last possible second. That is why some styles require you to wait for the "print". It will always be a tradeoff between confirmation and limiting your risk i.e waiting for the close vs. fine-tuning your entry to maximize your gain. The masters aren't waiting around, they see and feel the move intuitively and just react and flow.
One of my favorite ways to think about it:
Sometimes this stuff consumes me.Don't get set into one form, adapt it and build your own, and let it grow, be like water. Empty your mind, be formless, shapeless — like water. Now you put water in a cup, it becomes the cup; You put water into a bottle it becomes the bottle; You put it in a teapot it becomes the teapot. Now water can flow or it can crash. Be water, my friend. --Bruce Lee
Mike