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Big Chart Question - Pullback day after entry

Posted by sonicwave 
Big Chart Question - Pullback day after entry
January 26, 2014 11:49AM
I am looking at some of the trades posted here and had the following question for Big Chart traders.

After entering a trade on the 233 min or Daily chart as decision chart, on the following candle there is a big pullback going in the opposite direction below my entry price BUT the candle isn't closed yet. Do I need to wait on the Decision chart for the candle to close before making an EXIT decision? If the current price is below my entry price, but the indicators still look good what do I do?

I have seen on some of the posted sample trades that this is the case, but the trader has not exited. I can refer to a specific trade, but don't wanna call anyone out.

Thanks in advance!

Btw this forum is Awesome!
Re: Big Chart Question - Pullback day after entry
January 27, 2014 08:47AM
Price plays no factor
Re: Big Chart Question - Pullback day after entry
January 27, 2014 05:44PM
Just a question , Aren't MA made up from Price? BO
Re: Big Chart Question - Pullback day after entry
January 28, 2014 08:43AM
Let me clarify: THe indicators are what matters but: technically: Yes, the MA's are averages of price. WHen a trade is entered if the indicators have not changed then its still a trade regardless of the price.

BCT
Re: Big Chart Question - Pullback day after entry
January 28, 2014 10:46AM
Would you stay in a trade even though the next FOMC announcement is coming up tomorrow? Also, curious to know if you would hold through major earnings moves like Apple and/or Google?
Re: Big Chart Question - Pullback day after entry
January 28, 2014 11:36AM
If you hadnt mentioned the FOMC was meeting and announcing I wouldnt have known. Could care less about economic reports or the FOMC. I would follow GW rules going through earnings or I would take the profit by 2pm the day before earnings.

BCT
Re: Big Chart Question - Pullback day after entry
January 28, 2014 01:35PM
Wow that really helps me quite a bit. I see a nice signal on LEN for the 4 hour chart and wasn't since it is an interest rate sensitive stock!
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