Marcel Piche
Recruit
- Messages
- 6
Hello, everybody.
Market didn't show any sign of thrust yesterday from weekly pivot point, so we had no reason to enter Long the market. Hope you've done well and didn't Buy.
Now we have not bad very short-term context - possibility of a Double Repo or B&B trade. Look at hourly chart - excellent thrust down, close above 3x3 SMA (the green line). The strong resistance just above the market is 1.2684 area. IF B&B trade should started, I think It will start from there.
If market will not reach this area - then, possibly we can see a context for DRPO trade. We have close above 3x3, now we need close below (if it will be new lows- much better) then close above as a confirmation bar. In this case -the target is the same area of confluence resistance. Just make sure that there are not many bars between first close above 3x3 and second one.
If we will not see close second above 3x3 - we should not enter on the Long side of the market.
Been looking at this thread for some time now. Today was actually the first time I to took a trade. This is all great information and I'm trying to learn from it, although sometimes I find it confusing. Can the 3x3 and DREPO be used on all time frames or is it best on the 1 hour?
What is a B&B and how does it work? Could not find it in the glossary.
Are all signals based on the close of a candle on the 1 hour time frame?
What's the best way to learn this system and where would I find the info?
After the DREPO was don today is the B&B still valid or is it the canceled out?
Am I asking to many questions?