There are basically 2 places I add on. Pull backs and breaks of s/r. s/r can be pivots, trend lines, fibs, previous high/low, whatever.
I do pay attention to wave counts, but only on a basic level. If I see that third higher high/lower low, I'm paying close attention to divergence and looking for exit signs. If that 4th comes in, I'm definitely groping for the door handle. But it also depends on what time frame the setup came in on. If I get a setup on the daily or 4h I try not too watch anything below 1h unless one of my time marks is due. Then I'll start watching for add-on opps on the 5m or 15 m. But I try not to watch the smaller frames or I'll sabotage myself unless it's the smaller frames that I'm specifically trading.
This works on intraday as well as longer frames. I don't have the screen shot on this computer, but I'll post a screenie a little later which shows my add-ons for last nights gbp/jpy trade using a 5 min. chart. I was in that position for 4-5 hours or so. Got out a little bit early, but the 5 min. frame showed warning signs and I didn't want to baby sit it since that pair can take as fast as it gives in a very short time. I was into that trade 5 lots by the time all was said and done with the 5th lot being pretty small profit and the bigger profits coming in at 100+ pips on the 1st two entries.
I'll also post my gbp/jpy short from last week that went about 2.5 days. I think at the max, I had 7 lots on. But bigger frame meant bigger stops and wider spacing between add-ons.
I do pay attention to wave counts, but only on a basic level. If I see that third higher high/lower low, I'm paying close attention to divergence and looking for exit signs. If that 4th comes in, I'm definitely groping for the door handle. But it also depends on what time frame the setup came in on. If I get a setup on the daily or 4h I try not too watch anything below 1h unless one of my time marks is due. Then I'll start watching for add-on opps on the 5m or 15 m. But I try not to watch the smaller frames or I'll sabotage myself unless it's the smaller frames that I'm specifically trading.
This works on intraday as well as longer frames. I don't have the screen shot on this computer, but I'll post a screenie a little later which shows my add-ons for last nights gbp/jpy trade using a 5 min. chart. I was in that position for 4-5 hours or so. Got out a little bit early, but the 5 min. frame showed warning signs and I didn't want to baby sit it since that pair can take as fast as it gives in a very short time. I was into that trade 5 lots by the time all was said and done with the 5th lot being pretty small profit and the bigger profits coming in at 100+ pips on the 1st two entries.
I'll also post my gbp/jpy short from last week that went about 2.5 days. I think at the max, I had 7 lots on. But bigger frame meant bigger stops and wider spacing between add-ons.