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Hello ,
Regarding L1 and L2, and H1 and H2.
Which Pull Back (first or second entry) gives better probability of a win?
Thank you so much.
Depends on the context: H1/L1 are only valid entries in strong trends (BO phase), while H2/L2 are entries in the channel phase or at the extremes of TRs. When you apply them for their specific context, both trades are 60%.
Depends on the context: H1/L1 are only valid entries in strong trends (BO phase), while H2/L2 are entries in the channel phase or at the extremes of TRs. When you apply them for their specific context, both trades are 60%.
Thank you so much ludopuig,
Yes, a lot depends on context. yes, I am more a support and resistance trader with bullish/bearish context, and trying to decide if taking H1/L1 or H2/L2 near support or resistance will give me better probability (60%) of a win. In the tight trading ranges, I rely more on H1/L1 due to the tight ranges.
I appreciate your thoughts.
Hi Michael, just wanted to share my 2 cents.
Watch out for H1/L1 setups in TTR's. As ludopuig mentioned, H1/L1's are good when the momentum is evident, which is not the case during TTR's.
Most of the time, H1/L1's in TTR's will put you in a bad situation, entering in the middle of the TTR, where you have no edge and not a good trader equation.
Hope that helps,
Forgot to mention, but when looking for H1/L1's, you are looking for a stop order.
TTR's are quite the opposite of that. They are a limit order market.
Best,
Hi Michael, just wanted to share my 2 cents.
Watch out for H1/L1 setups in TTR's. As ludopuig mentioned, H1/L1's are good when the momentum is evident, which is not the case during TTR's.
Most of the time, H1/L1's in TTR's will put you in a bad situation, entering in the middle of the TTR, where you have no edge and not a good trader equation.
Hope that helps,
Thank you so much for the response.
When do you recommend to use H2/L2?
Thank you so much for the response.
When do you recommend to use H2/L2?
They are good setups for trends, specially when the market pullbacks to the trend line either on BC's or TC's (entering in the same direction of the trend) and on TR's betting on reversals (H2 on the lower third of the TR, L2 on the upper third of the TR).
Hope that helps,
