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Watchlist Rules
| Watchlist Rules |
|---|
| 1. Draw yourself trendlines at the triggers |
| 2. Do not trade first five minutes (Scalping ORB is okay if you know what you are doing) |
| 3. If a stock validates lower trigger as a support, then you can start to look to take it long |
| 4. If a stock validates upper trigger as a resistance, then you can look to take it short |
| 5. Wait for the 5m candle to close above trigger to validate |
| 5. If the stock flies past the trigger, do not chase the entry. Wait for a dip. |
| 6. The trigger levels are often levels of importance, they can be played multiple times. |
| 7. Do not take the trade immediately if the stock trades from one trigger to the other. |
| 8. Always be aware of previous days's closing price |
| 9. if the stock closes at the trigger. Wait for the next candle to form and see what direction it will be |
| 10. TRADE ONLY WITH THE TREND |
| 11. TRUST YOUR TRADE | LET THE TRADE PLAYOUT |
| 12. DO NOT PREMATURELY CUT TRADES |
| 13. Once a Stock drops a lot, use mark the 50% and 61.8% Fibronacci levels (good risk/reward) |
| 14. VWAP acts as support/resistance level |
| 15. No trades after 10am-(max 1030amCST) if you haven't made money for the day or are in red. |
| 16. We either take the retest once it closed above or we take the breakout if it’s consolidated before the trigger |
| 17. It won’t happen overnight, but if you quit it won’t happen at all. |