Hi Nathan. Thanks again for the trade entry details. I did exactly the same thing on RKLB but i guess sometimes anticipating the break has a better outcome than participating in it (and sometimes it doesn't)...
Really like the RBRK entry tactics. I'm often looking for 2/2:30pm breaks and using RS and the market turn are great tools for that so will look to adopt. I would have been tempted to put my stop in just at c 72.9 - under the DTL pivot at the 2:30 swing low (plus VWAP and G/R). Is that maybe reasonable for a day trade but a false economy for a swing trade? Do you often see the pivot acting as support on a weak open the next day or is prior day low the more solid but more "expensive" option?
I don't day trade but I imagine if it were to that would have been a good stop to maximise R/R.
For swing trades I'm trying to use daily levels as much as possible for stops just to give them the sufficient room to breath should it not move aggressively away from my price.
Hi Nathan. Thanks again for the trade entry details. I did exactly the same thing on RKLB but i guess sometimes anticipating the break has a better outcome than participating in it (and sometimes it doesn't)...
Really like the RBRK entry tactics. I'm often looking for 2/2:30pm breaks and using RS and the market turn are great tools for that so will look to adopt. I would have been tempted to put my stop in just at c 72.9 - under the DTL pivot at the 2:30 swing low (plus VWAP and G/R). Is that maybe reasonable for a day trade but a false economy for a swing trade? Do you often see the pivot acting as support on a weak open the next day or is prior day low the more solid but more "expensive" option?
Best
Hi Rog
I don't day trade but I imagine if it were to that would have been a good stop to maximise R/R.
For swing trades I'm trying to use daily levels as much as possible for stops just to give them the sufficient room to breath should it not move aggressively away from my price.
Sorry, just realised you had a flat pivot, i was seeing a more subjective DTL probably but general question still applies
https://www.tradingview.com/x/zMaBjvXp/