Simple's Green Room

[pennies2007]

Hey Heavy. Very true...the zones and the spike patterns have a lot in common. But I've also found that there are some subtle differences between a spike as a pivot and a spike as a true zone.

In the past, I probably would have tried going against the grain and playing the moves back up to those spikes. Now, I've gotten to where I sit back and wait on the move to complete after evaluating any potential true zones in the area to see if I can get in on the larger trend. Overall, it seems to be working out better that way.

I can remember many times trying to catch the move back to a spike area like that and waiting forever before price finally made it back there. Now I just put it on a watch list and trade something else while I'm waiting on it.

I'm also finding that even the zones are that way. Price can take ages to finally make it back to an actual zone so rather than wait on it, I just book profits part way between the two. I think you've mentioned in the past that the halfway point is a good area to cash out and that seems to work well.