Sunday, July 17, 2011

Trading Plan: Entering at 50% of an intrabar retrace


The traditional entry (long after a lower low followed by a higher low) can be improved
by already entering if the bar is not closed yet: If I plan to go long and see the price go down and go back up over 50% of prior bar I simply go long anticipating a positive close.

Vise versa for shorts, but like any of such quick entry methods they should only be used at key support and resistance areas (targets)

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