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Great entries today. Multliples entry points
Great entries today. Multliples entry points
Indicators
1. Itekline – Signal line (White)
2. Direction line (Aqua & Red)
3. Confirmation line (Blue & Red)
The indicator Itekline is designed to show us where the near term support and resistance levels are and to give us a possible entry point.
Definitions
The description is for long setup, reverse the procedure for short (high/low, above/below)
Signal bar: It is the bar that cross the indicator Itekline (the white signal line )
Entry bar: The first bar after the signal bar that reach the high of the Signal bar
Breakout bar: The bar that closes above an important Resistance/Support level
SETUP ENTRY RULES
1. Wait for the signal bar closes above the signal line. Enter the trade 1-2 tick above the high of the signal bar.
2. Direction line, have to agree with ther trade. Has to be UP (Aqua) for longs and DOWN (Red) for shorts
3. The Entry bar must be above the Confirmation line for Long and below for Short.
4. If the high of signal bar is near an important resistance level enter the trade 1-2 tick over resistance (Aggressive entry) or
enter the trade 1-2 tick over the high of breakout bar (Conservative entry)
5. Confirmation line, gives extra confirmation if agree with the direction of the trade. Blue for Long and Red for Short. It is optional
A detailed Trading Plan will be provided with the ItekDay System