John..exactly. After the close yesterday I put in a full order to buy MVV at 73.50. Since I believe there could well be a reversal to the trend starting tomorrow... I am using a variation of seeing a Renko trend change. After the close today I did the following:
1. I reduced the # of shares to be bought at 73.50 by 1/2.
2. I placed a new order for the "missing" 1/2 shares to be bought at the lower price of 71.25. I reached this value by changing the MVV points from 1.5 to .75. This brought the bottom of the last red brick to a price of 69.75...adding a 2 brick reversal would add 1.50 which brings the reversal price to 71.25.
The concept is that I take a bit more risk of a whipsaw on 1/2 of the shares, but get an earlier entry on 1/2 of the shares in case it is a real reversal, and then the other 1/2 shares are added at what should be a confirmation of a reversal. Regards.
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