Bottomed Out..... - Tuesday, page-45

hey Gold77,

If you're trading off the hourly then you are likely to the be day trading and therefore have a much shorter time frame and the shorter the timeframe the shorter the stop.

I drew up the chart differently to the original post but I put my exit on the hourly slightly above the upper channel and on the closet high above that channel. If I was looking to go long or short I would of been looking to enter at the same level.

Similar deal on the daily/weekly except with more of a buffer and again I would use the same level if I was looking to go long or short.

That's just how I trade and others will see it differently.

I also use a lot of moving averages but when I add them into charts for HC it can look like a complete mess, even now some of the charts I post have crap everywhere and that's because I'am lazy and don't want to re-draw them.

I hope that makes sense.