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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