I determine move potential in 2 ways:
1) Measured Move
2) Point of Interest / Significant Level
In this case, my target was around 1) 2600 (Institutional Number) and 2) Move to PDPDL (Solid red line from yesterday / the top of the green rectangle)
Wednesday, March 7, 2012
Trading Price Structure / Context: Wedges. How to enter after the signal. Part 2
So yesterday (previous post), I talked about how you need to recognize and trade price structures a certain way. Into the close, we had the breakout signal I was looking for. Then, our goal was to look for an entry signal, we had 2 opportunities to get into this move.
I determine move potential in 2 ways:
1) Measured Move
2) Point of Interest / Significant Level
In this case, my target was around 1) 2600 (Institutional Number) and 2) Move to PDPDL (Solid red line from yesterday / the top of the green rectangle)
I determine move potential in 2 ways:
1) Measured Move
2) Point of Interest / Significant Level
In this case, my target was around 1) 2600 (Institutional Number) and 2) Move to PDPDL (Solid red line from yesterday / the top of the green rectangle)
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I like part 1 and 2 about the wedge, nice...
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