I still think we are going to hit 210 before we go back to 198.
You can get in anywhere at market with your FIRST order.
If it is at support or in a certain dip you can then place your entry limit longs scaling down from that first order every 10 pips on the 8’ or 9’s.
If your first order is higher, like you just logged in and bought one long without looking at anything but price. Then before you get in with anymore longs you need to evaluate the trend LT MT ST. THere are countless indicators for this but study the charts long enough and they will tell you things you never noticed before. IF you get in this way AFTER you evaluated CURRENT market conditions then you determine to scale down
smartly. First one down 50 pips then every 20 or 30 pips. Or more aggrerssively…first one down 20 pips then every 10 pips for at least 10 orders then reevaluate your position.
Key here is not getting in too soon with too many AND not getting in with too many at too high of a price.
Right NOW for example. If I had loaded up long at the bottom 203.50ish.
I would be up 50 pips on every one I got down there.
I scalped a few. I also grabbed 2 @ 204.02 that are about even now.