- Looking for an entry in a "decision point area" (price range of 20 ticks above/below last swing high/low on 10 min chart
- Looking for an entry after there was a trend change and price retraced back to the 50% level
Entries:
- Confirmed Breakout (2nd time price goes above a 30 sec. bar that closed above the highest high of the prior two 10 min bars)
- AB Correction (price goes below last swing low on 30 sec. chart and then goes up again)
Exits:
- Trailing the stop below the bar that closed below the lowest low of the prior two 10 min bars (alternative automatic 3x atr trailing on 3 min chart)
- Exiting at the decision point on fast upmoves or session close or trailing below the 10 min bar that closed below the daily target.
Keeping in mind that after 3 moves up usually then trend is over:
Never the less the risk to miss a re-entry its better to just trail the stop rather than exit and make a re-entry:
and of course dont use any other trading method such as automated trade setup, as there needs to be price action at certain entry levels (50% or DP):
one last note: sometimes trailing a stop with atr trailing on very volitle markts can be not so profitable,
in that case volume spread (spikes) analysis helps me to decite to exit a trade or let it run at a new high or low:
No comments:
Post a Comment