New Strategy for Confirmation Trades

To establish a confirmation for a Buy entry on the EURO or YEN Futures here is our checklist:

1) Establish good Demand Level where we certain price is out of balance and Demand exceeds Supply.

2) Watch for a Closed Higher Low on 2 Minute Chart.

3) Watch for a 5 Minute Bar Low (5MBL) with the confirmation of a Closed 5 Minute Bar with a Higher Low.

4) Establish True Range of 5MBL Bar to establish Buy Limit Entry. True Range size of 4-14 use an entry 25-33% below 5MBL High. True Range size of 15+ Buy Limit Entry should be 50% of 5MBL True Range.

6) After price trades 1 point above 5MBL High immediately enter Buy Limit Entry at established True Range level with a stop 3-4 points below 5MBH Low but no more than 12 points.