There is one rule that allows me to enter with low risk in every market and that is a trendline break on the 30 sec chart. Obviously that entry has to be in the direction of the new trend that changed after the price got above the high of the prior two 10 min bars but only if these 10 min bar where in decision point areas.
So initial entries and re-entries using this method will also me to reduce the risk (stop has to be at the last 10 min low) from 8 points down to 4 points on the fdax.
Another advantage is that I can on 50% of the entries enter at the exact price of the prior 10 min high, so no guesswork is involved and the entries happen on all trends where as elliotwave type entires (AB correction) happen not always, but can still be used in addition and in sideways markets.
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On Trend Continuation Trades its wise to buy low, so an osciallator divergence will help to get in prior to the trendline break:
+_+FDAX+06-12+(10+Min)++02_04_2012.jpg)
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ReplyDeleteThanks.
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