Saturday, January 19, 2013

Trading Plan: 500 tick chart

Better Exits: After 3 upswings there is usually a correction, so looking at a 500 tick chart is often times more clearer than a 3 min chart:



Better Entries: There might be an AB correction on a 3 min chart but if there is no AB correction on the 500 tick chart the market is more likely to go just sideways:


Overall: Earlier entries and earlier exits (and not more signals)


But nevertheless the momentum has to also change for a re-entry:


So make sure 3 min and 500 tick signals match up:


the 500 tick chart clearly shows a wave 5 exit area:




No comments:

Post a Comment