Short: 1389,75 -- Initial Stop: 1391,50 -- Covered: 1384,75 -- Result: 2,83 R
Bearish in Screen I - Trading below envelope in Screen II - Entry Set-up in Screen III - Covered as the previous candle printed a threatening tail.
Comments : The key to this "High Momentum" play is to take the signal as the price stays at or below the 3 standards deviation band in Screen II. The other condition is to have a valid "Swing" set-up in shorter timeframes (I am using 21/5/1 min screens to trigger the entry and decide the Initial Stop level to do this). Will look to add on those Research trades during the next few weeks...
2 comments:
Did you take this trade? or it is for your research purpose only?.
Anyway, Nice trade.
Gav
Hi Gav,
yes I did, in fact I am currently testing 2 additional set-ups (mean-reverting and high momentum) with real money. The difference is that I risk only a fraction of my usual equity risk, but still want to have real money on the line in order to practice them under "real-life" conditions. I find that paper trading is not allowing me to build the same confidence in a set-up.
Best,
Stephane
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