AI
Sunday, November 19, 2017 1:07:22 AM
LABD double top/bottom strategy with 1:2 risk/reward. I am now using the risk reward tool instead of calculating the target manually. So much easier. LOL
RSI on the 60 minute chart for this one is quite choppy.
Double tops and bottoms rules
1. Wait for price to close above/below the top/bottom of arch (signal)
2. Buy after a continuation on following candle (trigger) (stocks above $10 is .10 continuation/ stocks $1-$10 is .05 continuation/ stocks below $1 is .02 continuation)
3. Stop loss is placed at the bottom of the double top/bottom
4. Target is taken by scaling out at a 1:1 ratio and then a 1:2 ratio
Buying off the RSI on this one is not very accurate
RSI on the 60 minute chart for this one is quite choppy.
Double tops and bottoms rules
1. Wait for price to close above/below the top/bottom of arch (signal)
2. Buy after a continuation on following candle (trigger) (stocks above $10 is .10 continuation/ stocks $1-$10 is .05 continuation/ stocks below $1 is .02 continuation)
3. Stop loss is placed at the bottom of the double top/bottom
4. Target is taken by scaling out at a 1:1 ratio and then a 1:2 ratio
Buying off the RSI on this one is not very accurate
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