Maine $treet Trader™
Focus on the past to improve trading the future(s).
Tuesday, August 14, 2012
/cl 5 crossover 33
1. /cl dips to ONE TICK below yesterday's low of day.
2. Two long tails form.
3. ENTRY SIGNAL: 5 period MA crosses above 33.
4. /cl instantly moves 30 ticks with no heat, no wait.
Key elements: Know your longer term support/resistance areas. The 5 crossover 33 entry will work best when coming off support. Or as a short when running into clear resistance area.
The entry should start to be profitable immediately. If it stalls get out. If the 5 period MA crosses back below the 33, get out.
This is pure trend following. You either make a lot or lose a little. Don't give it time.
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