NoD,
Great! Gotcha. I'm starting to catch more of those setups but just wanted to make sure I wasn't missing anything
thank you
Great! Gotcha. I'm starting to catch more of those setups but just wanted to make sure I wasn't missing anything
thank you
Quote from NoDoji:
I was in at 12:32 based on his chart time. There was a TL break and price pulled back up to the TL. Counter-trend scalpers who shorted a break of the 5m bar off the high were short @ 1411.75. Price drops to the 20EMA and their b/e stops are now at 1411.75. Price bumped its head there several times and there was my trading moment of Zen when I just hit the bid. My stop was 3 ticks, though, 50% larger than Handle's
The "easy money" short setup IMHO was the second break of 1410.00 after the 1-2-3 setup took price right into the upper trend line, shaking out the first entry shorts and trapping longs.
These are tactics I learned from studying Al Brooks. It took me a long, long time to get through his book and to understand the stuff in the real world. It was worth all my months of whining and frustration working through that poorly written tome. You really have to want it.
