About Ask/Bid and custom price levels
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I want to enter long at ASK and short on BID, and then exit/trail longs on BID prices and shorts on ASK. I use horizontal lines to reference the entry and trailing levels, how can i do this? I see that there are several options (price levels 1, 2 ad 3); are they making a reference to ask, mid and bid? Which is which?
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There are 10s of different objects that can be printed on the chart. The simplest objects - horizontal and vertical lines have only 1 coordinate - price (horizontal line) or time (vertical line). But some objects are made out of 3 points, where each point is one price-time coordinate. So Price level 2 and Price level 3 can only be used for particular objects. And even Price level 1 - there is no reason to use this for vertical line.
Ask and Bid are properties of the price. A horizontal lines are just line placed on particular price.
