Sunday, May 9, 2010

Trading Plan: 30 Sec. Charts









The 30 sec. charts provide an even better risk reward ratio than the 1 min charts.

Scalping rule to either target the last high (double top) or above the last high (decision point area) is: If there is a higher low then chances are higher that the trend continues so instead of using the last high as target a point above this price level can be used.

With the 30 Sec. Charts the anatomy of a long trend is also clearly visibly allowing the 3 basic entries:
1st. Above last bar high
2nd. Above trendline break
3rd. On a Close above a trendline

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