Method: To purchase securities/futures at the Point Of Control (ie the highest volume price in the given time frame) in an uptrending market as it retraces and pulls back to support.
Rationale: The POC will oftentimes, even on an intraday timeframe, act as support/resistance. Value has been determined in the minds of the most market players where peak volume has located peak demand.
Stop: One multiple of ATR (range determined by days used in overlay) below the POC or if fundamental/economic conditions change.
Target: 1/2 at the Upper Value Area and another 1/2 TBD if the trend continues and breaksout.
Timeframe: Intermediate, one day to several weeks. This is to be differentiated from my short term, intraday scalping strategy which remains the same and traded in a different account
Rationale: The POC will oftentimes, even on an intraday timeframe, act as support/resistance. Value has been determined in the minds of the most market players where peak volume has located peak demand.
Stop: One multiple of ATR (range determined by days used in overlay) below the POC or if fundamental/economic conditions change.
Target: 1/2 at the Upper Value Area and another 1/2 TBD if the trend continues and breaksout.
Timeframe: Intermediate, one day to several weeks. This is to be differentiated from my short term, intraday scalping strategy which remains the same and traded in a different account