Missed most of the early session due to work meetings. Had a brief look at the markets but seemed like I had missed the major moves, so called it a day. Hope you got some good trades.
I should have more time for trading next week. Have a good weekend.
3 comments:
Hi TraderAm,
I have been trying to figure out Trader X 5 set-up system, ie,
(1) Top-Out
(2) Deep Pullback
(3) Push Through
(4) The Re-Take
(5) Perfect Pullback
Have you or any of your reader had any luck dissecting any of these on the 15 min time frame?
Do you or any of your readers care to elaborate on the specifics of each?
Thanks,
Josh
Josh.
I haven't really looked into these in depth as I don't currently trade off the 10min chart. However I would think the same principles would apply.
My initial take on it is (be aware that this is just my quick answer as I haven't had time to research them fully):
1) Gap fade where stock fails to hold OR.
2) Pullback deep into OR and then gaining support.
3)OR breakout
4)Not sure on this one.
5)Tidy Pullback to fib level with nice setup candle.
Thanks
P.S Have a look at some charts and post comments on his blog regarding specific setups > I'm sure he will answer questions.
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