1) For uptrending and bullish sentiments, I want to see acceptance of the price level of below 3.69, meaning if the closing price is 3.68, I would cut the next day.
2) However, for other market conditions like sideways or bearish, I would cut the next day, if the bar even touches 3.69.
I like to trade with my left and right brain, hence my trades are not strictly mechanical but also guided by intuition developed over my 2 years of active trading experience.
I highly recommend these 2 books for a more thorough education in trading:
- The Three Skills of Top Trading by Hank Pruden
- Trading in the Zone by Mark Douglas
Trading is so much more than just Fundamental Analysis, Technical Analysis, probabilities, trading edges and techniques.
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