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Trading ABC, part 2


Aside from the standard way of waiting for a break above the B or #2 point, how do you scalpers enter at a slightly better price?


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For the separation between points B and C, do you look for a minimum number of candles ?
quote:
Originally posted by pt_emini

For the separation between points B and C, do you look for a minimum number of candles ?


hmmm...well PT I guess that it will need to be at minimum 3 candles because I will need 1 for a higher/lower close for entry and 1 for a trigger candle. Otherwise your entry will be above the B point. Hadnt really considered the number of candles from B to C just the % retrace. For those true fib traders they like to see at least 8 total candles. Thats at least 8 from A-C. It will be the exception not the rule that you see just 3.
VO, how do you decide where to put stops? Sometime you use C point for stop, another time you use a trigger bar.
pashalv...I always use C point as stop because C point will always be trigger bar. Sometimes other bars will have same low/high as trigger bar. All you need to remember to do is look for the lowest low/highest high bar and that will be your C point, which means that it will be your your trigger bar. Your entry bar will be a CLOSE above/below the low/high of trigger bar.
Thank you, VO!