XLE (Long energy)
Conditions: Trend following trade. Energy is on fire.
Entry: Market (7/04)
Stop: 10%.
Target: Let it ride, buy the dips.
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Current (general) preferred entry ticker conditions and entry signals are either.
a) Reversion to mean from overextension, providing there has been evident support from historical price action and/or a bullish / bearish pintail or rejection evident by an engulfing candle immediately after the supposed support/rejection.
b) Oscillators (Daily/Weekly Stoch as well as the Average Sentiment Oscillator) all providing confluence with a trend line / support level .
Maintain 2:1 RR, use retracements as much as possible. If over extended and sufficient confluence and I'm at my computer, consider a market order.
Establish confluence of support/resistance , trend, oscillators, congruent candles (pintail or engulfing reversal).
Entry: Market (7/04)
Stop: 10%.
Target: Let it ride, buy the dips.
---
Current (general) preferred entry ticker conditions and entry signals are either.
a) Reversion to mean from overextension, providing there has been evident support from historical price action and/or a bullish / bearish pintail or rejection evident by an engulfing candle immediately after the supposed support/rejection.
b) Oscillators (Daily/Weekly Stoch as well as the Average Sentiment Oscillator) all providing confluence with a trend line / support level .
Maintain 2:1 RR, use retracements as much as possible. If over extended and sufficient confluence and I'm at my computer, consider a market order.
Establish confluence of support/resistance , trend, oscillators, congruent candles (pintail or engulfing reversal).
Penafian
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