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Strategies & Market Trends : Technical Analysis - Beginners

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To: BuddyW who wrote (9851)	3/16/1999 12:54:00 AM
From: Lenny Rosow	of 12039

Buddy/Michael - Here is Robert Miner's inside-day trade entry set-up rules. By the way, he calls this a trend-continuation entry not a trend-reversal entry. "(1) Only enter in the direction of the trend. The direction is determined off the last pivot reversal considered to be the start of a new trend. (2) To enter a long position, as long as the low of the day prior to the inside-day has not been exceeded, on the day following the inside-day, buy at one tick above the high of the day prior to the inside-day. (3) Place the initial sell stop one tick below the lower of the low of the inside-day or the low of the entry day." If you can stomach a wider stop than maybe use the low of the day prior to the inside-day. This trade is valid only for the day following an inside day! If the high of the day prior to the inside-day is not taken out then the trade is voided and wait for the next set-up. Everything is of course the opposite for a short position. I wonder if anyone can test this out on a program like Metastock. If it can be done than I would love the formula - Lenny.

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