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I take it a smaller bar interval helps you pinpoint entries and exits more precisely? Traders (like myself) that sometimes wait for a bar to close have the disadvantage of never making that perfect entry. |
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It's not a question of being precise and perfect. It's a matter of locating support and resistance accurately, then monitoring traders' behavior when those levels are approached. If one monitors that behavior in terms of where a bar closes, then he is inserting one or more filters between what is happening and his perception of it.
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Are you saying that - if price does something other than what you'd expect it to do - you've misread the chart? I mean, that's what I want to believe. Others have said that I shouldn't try so hard in getting it right. It's just not possible. Or is it (except for these unanticipated news events which can't be foreseen)? |
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One determines an expectation according to the information that is available to him at the time he determines the expectation. In the next instant and the following instants, more information becomes available which may, all or in part, change the expectation, all or in part. If one has decided in advance that he will be "wrong" then and for all time if his expectation requires modification, then he will not be available to whatever the market offers. He will instead sit there, immobilized, trying to figure out where he screwed up.