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HIGH PROBABILITY TRADING STRATEGIES FOR ANY MARKETS AND ANY TIME FRAMES

FIGURE 6.8 Go-Short below the 60m Trailing 1BL

Price had tested the 38.2% price retracement three times in a probable corrective pattern. Traditional chartists and swing traders would wait for the breakout above the trading range high to go long. This would require a very wide stop. With the dual time frame momentum setup and Tr-1BH entry strategy, a long trade can be made with a relatively small capital exposure. If the EUR/USD doesn’t end up making a bull trend, the loss will be very small. Figure 6.10 is the smaller time frame daily EUR/USD. The weekly momentum bullish reversal was made the week ending October 20. I’ve marked the daily October 20 bar at the top of the chart. The objective entry strategy is to execute the daily Tr-1BH following a momentum bullish reversal on the daily data as long as the weekly momentum remains bullish. Three daily bars after October 20, the daily MACD made a momentum bullish reversal (longer bar from above the signal line). The following day, a long trade was executed one tick above the prior day’s high with a stop one tick below the swing low made prior to the bullish reversal. Currencies frequently have consistent trends that last for weeks and months. Using the weekly and daily data are the ideal time frames to enter

Profile for ERIC  Hunt

(wiley trading) robert c miner high probability trading strategies entry to exit tactics for the for  

(wiley trading) robert c miner high probability trading strategies entry to exit tactics for the for  

Profile for erichunt
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