DislikedThere has been one thing that I've noticed while using this method. I enter on the penetration, the 38 and 61 if it retraces back that far. What I see more than not is that once it penetrates it has a very good chance of going back to the 38 and a lot of time the 61. I'm spending my weekend trading vhands and instead of entering on the penetration and having the big drawdown, I'm going to go counter the penetration with a target of the 38 and using a very tight sl. I'm going to be testing it on the 1 hour. The consistent drawdown of the initial entry of the penetration is what got me thinking about this, I have no problem with drawdown but if it's consistent than why not take advantage of it.
I hope I made sense with what I just said.Ignored
trading naked.......