Saturday, August 21, 2010

Trading Plan: 1 Min Trendline Break & Entry on 30 Sec Charts










Looking at trendline breaks on the 1 Min Chart does usually not indicate a overall trend change
however if the 3 Min Trendline is far away and there is a change for a trade with high Risk/Reward Ratio, it ok to enter (especially after 3 higher swing highs and a huge run up). The first target would be the 3 min Trendline or any other major support level.

The 30 Sec Chart can provide entries with only half the risk than on a 1 min chart. Sometimes the risk on 1 min charts is too high for an entry so looking for entires on the 30 Sec Chart is the key especially if the polygonal moving average is already showing an ongoing trend.






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