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Originally Posted by foamgod
Say we start with a valid down fractal signal.
It did NOT get triggered.
Then comes a up fractal. Should we now ignore the down fractal even if it gets hit a while later? Let us assume that the up fractal did not get hit too and the price dropped such that the first down fractal gets hit. Is this hit counted? Or should we only look at the last fractal - which is the up down that did not get hit, and wait on?
Thanks!
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Fractals can be funny..
my suggestion; as others will soon say what they believe ..
i learned from a good friend; trade with the way of the gator. you should never take a fractal in an opposite direction of the support of the gator's direction. Remember fractals represent support and res levels, not necessarily an "entry point" thus why so many use them to "support" their entry into the market. also depending on what time frame your trading you may not be trading often as trading with the gator will keep you riding a long while; again depending on your time frame.
when you see up and down fractals; ignorE the fractals that are in the oposite trend of the gator and more then likely the fractal im telling you to ignore will be while the gator is sleeping which should never be considered. or again, against the trend of the gator. it takes alot to turn the gator over into a new direction. so you'll see the turning point, as it wont happen instantly .. its 3 phase
read the fractals edge; great explanation there. yes its old, but to get a quick understanding that shoiuld be stop #1 .. stop# 2 should be the Trading Chaos book .. im sure its been recomended..
good luck ..