Saturday, April 30, 2011

Trading Plan: Waiting for the S&P to reach a price level before entering long



Step one: Identify prior days key levels
Step two: if the distance to the next support area is further away a counter trend is possible
Step three: enter SHORT on a donchian channel break and a rally above the prior 10 min bar down to the support area.
Step four: See if you can reverse at the support area and go long again

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