ST
for daytrading on 5min(stchtcs) can we consdier data of yesterday as continuation ?
or should we wait for new formation of more than 5 to 6 bars in OB (stchts) on today data ?
for daytrading on 5min(stchtcs) can we consdier data of yesterday as continuation ?
or should we wait for new formation of more than 5 to 6 bars in OB (stchts) on today data ?
Here again the trader has to use his experience. If the market has a strong upmove earlier day and opens with a gap he may decide to buy in the first 5 min bar itself if the first bar is a breakout bar breaking out of sideways congession of last few bays on the previous day and the move has just started and the gap is not likely to be an exhaustion gap ....
Better to avoid such complex situations till you have a good control on the method and you can move out fast if proven wrong.....just stick to basics of the method explained in first 10 odd pages initially.....
Hope I have not added to the confusion.....
Smart_trade