Monday, August 8, 2011

Trading Plan: Entry on 5 Min Chart & 1 Min Chart



On all markets the 3 entries on the 5 min chart are very profitable:
  • Buy Market Order above the last two 5 min bars when there is a trendline break setup
  • Buy Market Order above the (narrow range) bar above the bar that closed above the last two 5 min bars
  • Buy Limit Order at the price at the high of the last two 5 min bar after a bar closed above those two 5 min bar

On the 1 min chart on strong trends entries are also possible at:

  • A reaction (bounce in) the 50%-61.8% retracement area
  • A break above the last two bars after a red bar

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