Tuesday, January 31, 2006

First bar trade working against the third bar setup.



The past two days, the first bar has been overrun by the third bar trade......and that is exactly how I have been trading this.......Half off according to the rules and then if I am taken out, I look to take the third bar setup.....


Once in the trade, the rules call for me to take half off when the "stoch" has cycled up if I am long or cycled down if I am short....then using the last bar, I watch when the low is taken out (if long) and just cover half and move to breakeven.

And hope for the best.........

2 comments:

Anonymous said...

I think you have an old chart on this post...

Anonymous said...

I agree that dennis has an old chart for the 70T.... it does not match up with the 3 min chart he shows above.?.?.?

hummmm