Study Guide for Come Into My Trading Room - Forex Factory

TRADING 113
Answer 44
D. 1, 2, 3, and 4. Give yourself four points for choosing the correct
answer.
The contradictions between signals in different timeframes present a
challenge, as well as an opportunity. We can filter them against one
another, leaving only the best signals. Long-term as well as short-term
charts are defined by their relationships to the intermediate timeframe,
using the Rule of Five. Short-term charts allow you to get closer to the
markets, but it is much more important to begin your analysis by making
a strategic decision on long-term charts.
Answer 45
Phrase 3 is correct. Give yourself four points for choosing the right
answer.
One of the key rules of the Triple Screen is to make your decisions in
several timeframes, moving down from the longest to the shortest. If you
work with weekly, daily, and intraday charts, then make your strategic
decision, either bullish or bearish, on the weekly chart, then tactical on
the dailies, and find entry and exit points using intraday charts.
Answer 46
Choice 4 is not acceptable. Give yourself three points for choosing the
right answer.
Buying an upside breakout puts you in the direction of the trend,
whereas buying pullbacks provides less expensive entries. These are
all acceptable methods, but it is seldom a good idea to put in orders
without even knowing what price you will have to pay at the opening
tomorrow.