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What do you guys use to detect and stay out of chop? I've tried RSqueeze but it misses many moves coming out of chop or detects them too late. I've tried EOT's chopometer which seems pretty good, but I'm not subscribing to their stuff …
other chop threads if you type chop on the search engine
It is a really really bad question..assuming people who will answer have a crystal ball of some sorts.
It is really a question of fading a range vs taking a breakout....but those are not really two mutually exclusive setups depending on how price develops. Could get 1, both or none on the same range/range break....
That is why trading is so much fun though.
In larger ranges I try to get in somewhere in the middle and hope it goes out the other side. For tighter ranges, a common technique is to draw a box or trend lines and wait for the pullback then trade the bounce. Regardless, I try to avoid trading the break. Often easier said than done however.
