Friday, October 3, 2014

Example of 1-2-3 set up


Steps:

(1) Determine "1" (daily) and confirm on lesser time frame (hourly)
(2) Enter "3" at the close after the breakout above "1"
(3) Set the stops at the bottom of "2"
(4) Exit:
              Option-A: exit at the end of "3"
              Option-B: ride messy "4" and exit in "5" when price/MACD divergence occurs

































4 comments:

  1. could you detail the 1-2-3 seup for this past thurs and friday? Would the ideal entry have been the gap up open on friday at spx 1956 level? Thx.

    ReplyDelete
    Replies
    1. did in Monday's report: it is labeled as i-ii-iii

      it was tradable set up on Friday morning

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    2. look at Monday's late update for reasons why

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