BuyZone and Support/Resistance

[alichambers]

Hi,

Does anyone discount a BuyZone/SellZone trade if the price is near support or resistance?

If so, which support/resistance lines do you use - and what rules?

Thanks,
Alex

[TheRumpledOne]

Use the TRO DYNAMIC FIBSSR indicator.

If there is resistance in the long zone, don't enter.

If there is support in the short zone, don't enter.

If you "break" this rule and the trade goes your way, be quick to take profit because there's a good chance it will reverse.

You can always reenter on a retrace.

[vittorio]

Hi,

If we use Dynamic SR in combo
with the BuySell Zone on Forex
(on a 5 min chart)
which setting we can use
for 'iperiods' parameter ?
(i.e is 12 plausible? )


Thank you
Vittorio

[TheRumpledOne]

I would NOT change the iPeriod parameter.

[alichambers]

OK, thanks.

How far out of the Long/ShortZone should the DynamicSR dot be?

Is just outside OK, or do you not take the trade until the DynamicSR dot is +/- say 5 pips away from the zone?

AC

[TheRumpledOne]

I would think it should be at least 2 pips outside the zone.

Be in the moment... if the price is moving fast, you can just jump in the trade and exit with a profit when the price stalls.

So if the price is below the short zone but moving up fast and crossed the short zone, you may just want to jump in the trade and be ready to exit at the resistance price.