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Watchlist Rules
Watchlist Rules |
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1. Draw yourself trendlines at the triggers |
2. Do not trade first five minutes (Scalping ORB is okay if you know what you are doing) |
3. If a stock validates lower trigger as a support, then you can start to look to take it long |
4. If a stock validates upper trigger as a resistance, then you can look to take it short |
5. Wait for the 5m candle to close above trigger to validate |
5. If the stock flies past the trigger, do not chase the entry. Wait for a dip. |
6. The trigger levels are often levels of importance, they can be played multiple times. |
7. Do not take the trade immediately if the stock trades from one trigger to the other. |
8. Always be aware of previous days's closing price |
9. if the stock closes at the trigger. Wait for the next candle to form and see what direction it will be |
10. TRADE ONLY WITH THE TREND |
11. TRUST YOUR TRADE | LET THE TRADE PLAYOUT |
12. DO NOT PREMATURELY CUT TRADES |
13. Once a Stock drops a lot, use mark the 50% and 61.8% Fibronacci levels (good risk/reward) |
14. VWAP acts as support/resistance level |
15. No trades after 10am-(max 1030amCST) if you haven't made money for the day or are in red. |
16. We either take the retest once it closed above or we take the breakout if it’s consolidated before the trigger |
17. It won’t happen overnight, but if you quit it won’t happen at all. |