Although many traders try to use oscillators and other indicators to define shorter-term swing points, price action offers more immediate and unambiguous market information. Another benefit of this specific approach is that you don’t have to wait for a bar to complete before entering the order — that is, you don’t have to wait for the closing price to trigger a signal. As a result, you can place a limit order .0010 (or whatever the case may be) above or below the previous bar’s high or low and get filled immediately if the currency reaches your price.
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