Simple's Green Room

[boca_bobby]

OK Guys,

Here is a copy of the latest sniper chart for GU. I am also giving notes as to what they say is a true entry and exit and why it's not always a great idea.

Note #1:
This is the typical sniper long entry. We see the blue arrow show up and on the bottom we see blue bars signalling a confirmation of a long entry. They sat to ride it out until you see the first red arrow. This would have netted about 50 pips. It could have been a little more or a little less depending on exactly you entered. Remember this is an hourly chart so there is some wiggle room.

Note #2:
Here we see a blue arrow but look at the trend bars. We have mixed blue and red trends. This is a neutral signal. Program says to make no move at all.

Note #3:
Here we get the classic sell signal according to the program. But notice how the major part of the move has already been made. Then we see sideways trading. If you entered a short you might be even at best, imo. Of course the next blue arrow hasn't shown yp just yet so you may still be holding a short position according to the program.

Note #4:
We can clearly see the program is starting to change from a bearish stance to a bullish stance signaled by the changing moving averages from red to blue. The trend bars are still all red so we would have a neutral stance until all things are confirmed.


As you can see we only had one true winning trade. Yet we saw 4 different signals. You would really need to be in front of your computer watching and waiting for the alerts. Then judge if the alert was warranted or not.

This is why I've been saying that I would use this system only with the fib boxes and TDI. And even then you might still ask yourself, why would I need the sniper indicator in the first place. For me, it's just a feeling of complete confirmation for an entry I wanted to make in the first place.

Feel free to offer feedback.