DislikedHy Olu,
I see something unclear in your E/J trade. As I understood, you have 2 signals:
1. For direction and place - 100sma + Stoch (for example)
AFTER that, when you have signal 1 you go to:
2. Signal for entry - for example 1-2-3 formation.
In your E/J trade you have only the 2. signal. Or I miss something?
If you want to entry on daily whit 1-2-3, you have to have signal 1 on weekly, better monthly. And then, your stop have to be above point 3 from 1-2-3.
If you use the daily 1-2-3 as signal 1, you have to make the entry on 4h-chart...Ignored
Hi Happy68
My last ej trade was off a 123 on the daily chart. I like your idea of dropping down to the next timeframe to look for entry. Unfortunately I cant do that because I cant be there to check it out. So I place stop trades to get in. In the case of the ej the entry was a break of support around 112.40.
I am currently trying out entry by limit orders too as it appears price comes back after initial support or resistance break
Olu
Find a trend and milk it for all it is worth. That's how to be profitable