Tuesday, May 24, 2016

New Entry Scan Procedure (updated 5/25/16)

1st scan (automatic)
a. bid / ask spread <0.03
b. ATR >0.7 or PMAATR >0.7
c. ATR vs Price > 5%

2nd scan (manually)
1. BBC 2.0 @ chart indicator
2. start of a new trend wave @ red to green on the zigzag wave indicator
3. at support @ chart horizontal trendline

 DO NOT BUY IF:
1. just broke out...
- that means that it violated rule #2 and #3 as it's a long wave
2. max volume on prior volume wave
- because more likely that it is topped out