For the long trend confirmation, we were looking for a higher low to be set and then a continuation to the upside. The arrows, drawn prior to the actual movement, were what we were looking for to confirm the uptrend.
Wednesday, March 30, 2011
Waiting for your trade setup, increasing win ratio
Today, 3/30/11, we had a longer term uptrend, but had a short-term downtrend in the morning signaled by a break out of long trend. However, we had no confirmation of this trend reversal for the longer term with a bigger picture cross. Due to this, we were waiting for the break out of short trend to take long positions. One of our areas that we look to enter positions is at our Points of Interest. Today, we had 2 long Points of Interest, blue rectangles, after the break out of short trend.
For the long trend confirmation, we were looking for a higher low to be set and then a continuation to the upside. The arrows, drawn prior to the actual movement, were what we were looking for to confirm the uptrend.
For the long trend confirmation, we were looking for a higher low to be set and then a continuation to the upside. The arrows, drawn prior to the actual movement, were what we were looking for to confirm the uptrend.
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