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HIGH PROBABILITY TRADING STRATEGIES FOR ANY MARKETS AND ANY TIME FRAMES

To identify the setup and determine the SE entry and stop price on the 15m data would require the trader to be able to monitor the market during the day. Again, that does not mean sitting in front of the computer all day. The final condition to place the trade is a 15m momentum bullish reversal. Set a momentum reversal alert on your trading software, turn up the computer’s volume, and go about your business during the day (within earshot of the computer’s alert). If the alert is made (15m momentum bullish reversal), take a look at the chart to identify the swing high for the swing entry buystop price and swing low for the initial protective sell-stop. Place the buy-stop order and contingent sell-stop order and go about your business. No need to stay glued to the computer. You already have all the specific information needed to place the order. The market will either execute the buy-stop or it won’t. Figure 6.13 is IBM weekly data into the October 2007 high. IBM has made five distinct sections up from the July 2006 low for a possible five-wave trend. We don’t know if October 2007 has made a Wave-5 high to complete the bull trend, but if time and price factors indicate this could be the case, we would look for market action to either exit

FIGURE 6.13 Higher Time Frame in Position for Short Position

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  

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