Day Trading Blog
Saturday, March 5, 2011
Trading Plan: 3 Entry Types I use
When I see
a 10 min setup (closing price of 10 min bar is likely to cross the last swing low or high)
or there is a donchian channel break about to occure
or the price shows weakness after crossing a new high/low
I use following entries to get my risk down to 4 Points:
Red or Lime Color Bar after Trendline Break (VPA indicator colors bars based on volume and momentum)
Price Action in Fibonacci Retracement Area
Cluster (Box in which prices form a Base) Breakout
Entry in Decision Point area (abc correction) when there is a trendline break possible
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