Before I embark on showing you the new method - it is time again for .......yes.......exercises!
EXERCISE 4
Look at the following 5 minute chart of an evening star trade >>>
By
tymen1 at 2008-06-11
The short entry is shown by the black vertical line. After this candles are numbered 1 to 16.
1) Which number (s) would you consider to be a retrace point (s) ?
2) Give reasons for your answer (s).
3) Which number(s) would you consider to be an exit point (s)?
4) Give reasons for your answer(s).