Promoted from "Comments"
Doug wrote the following in "Comments" of the last post:
"X, the "push through" setup works on the 15 minute charts too. I know you don't trade that timeframe, but STT was a great setup and my target was the fibonacci extension of yesterday's low to the high of the first 30 minutes. Entry was a break of the 2nd bar."
Here is the chart:
On another note, here is a better example of the "u-turn" setup mentioned earlier this week. The entry was a break of the third bar high; the third bar was an "offsetting bar" that closed strong above the halfway point between the morning's low and the 50% retracement. Profits were taken when the narrow-range bar that formed above the halfway point between the morning's high and the FE was broken.
A Simple Mistake Traders Make
7 hours ago