Euro close long 108 out 108.40. +40. Following is in response to questions i received. The reason i get out with 40 ticks on most days because ATR for CL is around 2.3 and in my experience and way of trading, 40 ticks are quickest and easier to come. CL is now at 108.75 and it does not bother me. Between 2 trades today, i have 44+40= 84 ticks.
The day i do not take long at OR high of 108.66 after A up, it comes down to 108.66 and runs up 50 ticks and is heading for 110 (lol). No shorts for me till VOLUME exhaustion at resistance. RULE #1: After A up, if i take counter trend trade, i book gains quickly and thank GOD.
First off would like to thank MfBreakout and others who have been posting on this board. I just recently saw Mark Fisher on CNBC and after doing som research came across his book and have just started reading it. Just a quick question please. If Fisher states to use an opening range of say 20 minutes and he gives the A/C values for this opening range how do you adjust for if you want to go to a lower time frame like a 10 minute OR? How would you know what A/C values to use ? Thanks and great posting !!