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Soultrader

Break of Value, August 9th Trade

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Break of value trade setup

Here is a chart of a particular trade setup I took. As soon as prices broke the lower value low pivot, I shorted the retracement back to the pivot.

 

Some rules and guidelines: Try to enter a short 2-3 ticks before the pivot to make sure you get filled. I always use a 10point stop for this setup. I scale out half my position at plus 10pts, a quarter at plus 20pts, and will hold on to the last quarter using a smart trailing stop.

 

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