Any support/resistance can be broken - so called "continuation thinking" is quite dangerous when playing the markets. For me, these kinds of limiting concepts do not exist at all.
The colleague above is somewhat correct in that he didn't get anything out of this subject besides indicators and a general outline of entries - but that was probably the goal.
The system itself is not supposed to tell you when to add to a position, how to manage the size of the position, how to manage your money, when to exit a position at a loss, when to take a day off and not play at all, etc. Trading is not really about finding the perfect entry every time (which is impossible), it is about managing yourself - but most will never understand that.
Personally, I implemented into my way of playing what I found interesting, the rest I discarded. And looking at some screens of the topic creator after some time I came to the conclusion that I have no idea how he makes decisions - my entries earn, but certainly not 200, 300 or 400% a day.
I recommend everyone to read (and listen to) Mark Douglas if anyone here by some miracle hasn't already done so:
This video is also worth watching:
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Re: XARD - Simple Trend Following Trading System
kowal81, Mon Jun 13, 2022 6:17 am