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RE: What does Support and Resistance really tell you?

in #trading7 years ago

WOW! What a great video!
You are a good man, Luc. Good luck to you and your family.

Question: I think, I understood how to get into a trade (draw a base, setup alarms, increase position sizing on the way down to decrease avg price), but how (and when) we should get out ? And especially interested what you do if there is no bounce (or very weak bounce)?
What is the course of auctions in that case?
Thank you for doing those videos.

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Unless you get horrid horrid news, you should always get a bounce to the base that got you in the trade in the first place.. so exit anywhere around there, but i generally dont exit my full position.. I always save a little for later on.. like maybe 20% to either save as an investment or sell later higher