con, I have always considered a close above resistance as confirmation for an entry. I wouldn't use an interday chart as confirmation of a daily chart pattern...
This question's answer depends on ones personal risk factor. I'm a low risk trader and don't mind missing some of any move to get the safty it is not a fakeout. Others will buy a bottom even before any reversal. Neither correct. Whats correct is what works best for your neededs, wants, and success rate. I personally recommend safty and being happy with what you get, over risky and not getting what you want as often. But it all boils down to REACHING PERSONAL GOALS SET IN YOU TRADING BUSINESS PLAN.
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