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Strategies & Market Trends : DAYTRADING Fundamentals
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To: - who wrote (936)6/17/1999 9:44:00 PM
From: Teresa Lo  Read Replies (1) of 18137
 
I actually wrote an article on Linda Raschke's Holy Grail technique. It works even better if you use candlesticks and/or Dunnigan count.

Example - In an Uptrend (Higher highs and higher lows with increasing ADX):

On a pull back you'll typically find 4-6 bars that all make lower lows and lower highs. You can just put a buy stop above the bar immediately above the the present (realtime) one and keep moving it down. If it crashes through the 20EMA, then clearly the set up did not happen, but you did not have to "pick a bottom", a place to get long (which opens up the can of worms of how close to the MA do you need to get before you try to buy and some really steep uptrends never retrace that much) - rather you are going to let the market take you up if it wants to go back up again. Once filled, use the lowest low of the bull flag as an initial stop loss.

The article is here at intelligentspeculator.com
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