Sunday, September 11, 2011

Trading Plan: Entry on Prior High


At the retest of the breakdown price its important to watch price action, especially if prices goes again higher than the breakdown level, this can be considered as people still want to short at a higher price, then a bounce of a prior high might be a another chance to get in a low risk short position:

After a big retracement (61,80% - 50% area) a valid entry is to enter short at a prior 5 min bar high, instead of waiting for the price to break down again.



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