thanks FM,
ah, so it doesn't have to be all 3 quick lrs then. let me just say back what I think you just taught me:
- scalps aren't measured only by the quick lrs as i thought, but the other lrs add further weight too, i thought the slower lrs were for longer term trades, but they are ALL for scalpings.
- not all the lrs have to be over/under to indicate an entry signal, 2 quick lrs could be enough. but the more the better.
- as an extreme example for clarity of understanding, just 1 quick lr (nothing else) under/over is more significant to a scalp than just 1 slow lr and nothing else.
my question for now would be that at say midday, only 1 lr (the slowest one) was under. the quick lrs were under at about 5 mins before, even though at exactly 12pm there was a sharp price drop which went below the lrs. the drop was then faded back up and thats when the major buy trend started - so the real buy was at about 12:04??? is that when you entered then?
the signals for that buy were (im braindumping again):
- 7 out of 9 lrs were under
- there was a bounce back from the sharp low at 12:00
- that sharp low hit what was a support line for the past hour
were there any other clues?
