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HIGH PROBABILITY TRADING STRATEGIES FOR ANY MARKETS AND ANY TIME FRAMES

than any since the October 2006 low, which was the beginning of the potential five-wave trend into the October 2007 high. It would definitely be a time to not be long IBM and a good time to consider a short position. If you have an aversion to short positions, get a job because you definitely can’t consider yourself a trader. Markets trend up and markets trend down. Take advantage of both potential trends. How about very short-term setups, including day traders? The exact same strategies are used. Figure 6.15 is the 15m, ES data for January 17 through the 11:15 bar. The next higher time frame 60m momentum was bearish going into this day. Only short trades should be considered on smaller time frame bearish reversal setups. The 15m momentum made two bearish reversals prior to the 11:15 bar, one just above the OS zone and one in the OS zone. Neither was in the position to initiate a short trade. By the 11:15 bar, the ES 15m momentum had reached the overbought zone, a setup for a short position on the smaller time frame 5m momentum. I recommend for day trades to have two higher time frames momentum in the direction of the smaller time frame momentum for the best opportunities for a successful trade. In this case, the 60m momentum was

FIGURE 6.15 15m Setup for Day Trade on 5m Data

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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