RE: Beginners Questions
(2013-05-26, 11:32 PM)Locked in Wrote: Also, another entry (and safest I believe??) would be as/if it passes the previous swing high imo.
Weinstein says that B entry point, which is the pullback to the initial Stage 2A breakout point is the safest entry. The other entry you describe is the initial continuation breakout, which we talked about previously on the t2w thread and I labelled as a possible C entry point and marked up on the diagram from the book (see attached).
I still believe it could be a fairly safe entry point if you've missed the initial part of the early Stage 2 move, as it is still reasonably early in Stage 2, as you would expect numerous pullbacks and minor continuation moves in a decent Stage 2 advance. So it does give you a chance to put in a tight stop below the swing low with the trader method, and so should still have a decent risk reward imo. But is an entry point that needs further testing, and so is maybe something we can do on the site, as a thread looking at the various entry points is something that's on my to do list.
isatrader
Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.
Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.