MoneyTec Traders Community Forum - View Single Post - The three unchanging laws of market movement

FloFri · 12-10-2004, 08:29

The problem with this is the timing. Like in this case this line could function as a resistance. When will you decide that price is bouncing? At this moment price is moving beneath the level. My problem is that I would be biased too eager to take a side. I have a feeling that in this case I would have done the same but I wouldn't be happy having followed this lead. The next hour or so could prove me wrong. One could also have waited for e.g. hourly RSI. In short when do we decide (on a break or a bounce)? This must be a clear one. A clear break is easier to spot but often it's too late a bounce could take longer. I don't know...
Or is it the earlier bounce yesterday that gives you confidence?

12-10-2004, 08:29	#9
FloFri level 2 Join Date: Sep 2003 Posts: 90 Downloads: 0 Uploads: 0 Rep Power: 0	timing The problem with this is the timing. Like in this case this line could function as a resistance. When will you decide that price is bouncing? At this moment price is moving beneath the level. My problem is that I would be biased too eager to take a side. I have a feeling that in this case I would have done the same but I wouldn't be happy having followed this lead. The next hour or so could prove me wrong. One could also have waited for e.g. hourly RSI. In short when do we decide (on a break or a bounce)? This must be a clear one. A clear break is easier to spot but often it's too late a bounce could take longer. I don't know... Or is it the earlier bounce yesterday that gives you confidence?