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Tuesday, July 30, 2013 2:13:17 PM
Same way I did this morning when I went long EA the first time. During bullish trends, price will always pull back as profit takers step in. Then price will begin to move back up. Just wait for the TDI to break out along with price and then jump back in as the TDI retests it's trendline along with price action retesting it's trendline.
Example here on the EA 5 minute chart from the trade I took this morning...the first TDI breakout and retest gave us the ability to get in before the price action trendline was ever broken topside. The second TDI breakout and retest happened at exactly the same time the price action was testing it's top trendline as support before the big pop came along.
I still keep an eye on the larger time frames when looking for these setups. Until I start seeing negative divergence on the hourly, for example, I can continue to use the 5 and 15 minute charts to look for these types of continuation plays.
Example here on the EA 5 minute chart from the trade I took this morning...the first TDI breakout and retest gave us the ability to get in before the price action trendline was ever broken topside. The second TDI breakout and retest happened at exactly the same time the price action was testing it's top trendline as support before the big pop came along.
I still keep an eye on the larger time frames when looking for these setups. Until I start seeing negative divergence on the hourly, for example, I can continue to use the 5 and 15 minute charts to look for these types of continuation plays.
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