The old ways are the best ways
At the beginning of 21st century, after Linda Raschke’s best-seller “Street Smarts: High Probability Short-Term Trading Strategies” was published, many traders were simply obsessed with the pattern Three little Indians. There were many discussions about the time frames it could be applied to and about whether it would be efficient when applied to the exotic currencies. The most enthusiastic champions would assert that traders didn’t need anything else at all: “just open a position to sell and wait till a signal to buy is produced”. The market was overwhelmed with the universal love…
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