RULES OF THE TRADING SYSTEM
3 Days above closing
There are 2 basic rules to trade long:
- must be higher than the highest high of the last 3 days.
- The signal is confirmed on the next trading day if the price trades above the high of the previous day.
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3 Days Below closing
Similarly, there are also 2 basic rules to sell short:
- must be lower than the lowest low of the last 3 days.
- The signal is confirmed on the next trading day if the price trades below the low of the previous day.
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I know this article is targeted at beginners, but I think it's a great reminder for experienced traders as well, who sometimes forget the basics when they are focusing on more complicated strategies. Thanks! Great refresher!
ReplyDeleteReally really appreciate the help. I'm actually getting a hang of this so seeing it all properly elaborated really did a lot for me. Thank You Rahul
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