INTERMEDIATE LEVEL
By
tymen1 at 2008-09-23
Knowledge Assumed :
Having read much of the Candlestick thread and being able to find quality patterns on the Bollinger bands.
Familiarity with the Starc bands.
Charts required :
1) The main chart with timeframe ranging from 20 minutes to 1 hour.
2) A 5 minute chart with the Starc bands on it.
3) The Starc retrace chart may be needed for reference.
Method :
1) Same as Basic Level.
2) Do
not enter when the entry candle starts. Go to the 5 minute Starc chart and watch instead.
3A)
Pips first.
Let the first 5 minute candle expire.
OR
3B)
Retrace first.
4) Wait till the price action reaches the relevant Starc retrace point, then enter 1 amount.
5) Improve on this estimate and enter the 2nd amount.
(the computer will average the entries).
6 + 7)
Now proceed as per Basic level steps 2 to 4 (with Watch included) to the end of the trade.