Monday, May 6, 2013

Monday TF

I see 5 spots to get long today.

3 of them were in the morning.  All these entries would require a minimum of 8tick stop.  I find 11 is more than enough.

bull market: you just need to find a good spot to GET LONG

AD was muted but mostly over 400 most of the day.  So had to pick the spots.

The test of the o/n lows is clearly the most difficult to enter but really, it's a test of support.  There was a similar entry late in the day.

If you needed more confirmation you could wait until the full b/o of the decision wedge.  These entries happen all the time and the provide naturally solid R:R. They either work right away or they don't.  You never need a 'wide stop'.

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