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40 WJien the nnxt bar rTiade a double top. I kept my buy stop in tho same place, but 1 moved my segment count over to the second bar. SF 5 HIMUTE  I E I 11 37 0 3713-0 K„y 37320 37000 37700 3775 37740 37720 37700 376BG 37660 37610 37620 37600 37500 37560 37510 37520 37500 37400 37460 37410 37420 374D0 373B0 37360 3 S I now iiad three segments down, so 1 placed an order to t>uy a breakout ot the high of the current bar, and also a soil order to sell a breakout of the low of the current bar A new low would constitute a potentini trend change from up to down. SP 5 HIHUTE I Tix*. buy 3 37060 37B40 37320 37000 sell377B0 37760 37740 37728 37700 37600 37660 37610 37620 37600 3758G 37560 37540 37520 37500 374BG 37460 37440 37120 37400 3738G 37360
I was filled short on a twcmy-five Jot ai 37775. Prices then formed a doji didh t [ike that, so I moved my stop to just above the high of the doji bar. SP 5 rtlNUTE 3 8 9 37868 37810 3782G 37B0O 37780 37760 37710 37720 37700 376B0 37660 37610 37620 37600 375B0 37560 37510 37520 375D0 371B0 3746G 37410 37420 374GG 73 0 37360 Once the third segment has broken out. I consider trulh to be (hat Im in 3 new trend. As far as 1 was concerned, S was now in a downtrend, despite the doji finish of the last price bar. This concept is vital to my trading. I was stopped otn of all twenty five contracts at 377 . My loss was $2025 including costs. Prices had now formed a Ross hook, stop below the hook. pfaced a sell did not place a seJI stop befow the correcting bar because I needed 2 ticks {ton points} lo cover costs between the point of the hook and one tick fjelow t:hc correcting bar. SP 5 HiriUTE When Ifiere is not Gnoi jgfi room to cover costs. I lelrain from taking tfie trade. 3 8 37860 37840 37B20 37B00 seIl377BG 37760 37740 37720 37700 376BG 37660 37640 37620 37600 37580 37560 37540 375ZG 375G0 374B0 37460 37440 37420 37400 373BQ 37360
PricRs madct a doji on next bar, so I placed a sull stop ondnr it jos[ as it was closing. This was the second bar of correction. I pfnccd n sell stop thnro because if i were to be fiiled 1 lick below the low, there would be enougfi room for me to cover costs by ttie time I reached the point of the Ross hook. 5 MIMUTE When prices rnade another doji, I cook! clearly cooot four out of the last five bars in contjestion, vith tfie last four closes within the price range of the fourth bar back. I canceled the sell order under tiie previoLJS bars low, but 1 kept a sell order under the Ross fiook. f also placed a buy order above tfie siTiall double top made earlier. My chart looked like tEiis: SF 5 MIMUTE > 37B&0 7 1 3?BZ0 ,37800 ,..p seJ1 I I 1 3 8 3 3776G 37740 377Z0 37700 376D0 37650 37640 376Z0 37600 375B0 37560 37510 375Z0 37500 371 DO 37160 37140 371Z0 37100 37380 37360 ;I I IH . se 11 3 0 37860 37810 37828 37800 37780 37760 37740 377ZG 37700 37680 37660 37640 376Z0 376G0 375G0 37560 37540 37520 37500 374B0 37460 37440 374Z0 37400 373B0 37360 The downtrend v/as no longer mtact. I was looking at congestion. The oss hook forrried Pie lov*/er limit of the congestion, and tfie smail double top formed the upper limit. A breakout of eidier would give me a tra(iing entry.
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