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On a range chart, the stop will be fixed size (bar range period value +1 tick) because the bars are all the same size. On a variable bar size chart, like time, tick, volume, etc, the stop will be variable based on the size of the bar, and so the target will also be variable at 2 times the stop. On a variable bar chart, I calculate my contract/share sizing based on the size of the stop (Shares = DollarRisk/StopSize), so I keep my dollar risk the same on every trade regardless of the size of the bar (StopSize).
Do you have any standard methods to recognize and enter the pushes? I knew a trader whose method is based on the theory that the market produces these symmetrical moves all the time, so he would measure the current move, and displace the line forward to anticipate the size of the following moves. The trick was, how to choose the start point of the moves.
After a pullback (simple or complex) to a level of supply/demand. This is not perfect but when you are in a trade and the strength of the swing is high, it helps to form an idea where price may stall or reverse direction.
I shorted the euro (my market is molasses today - soy) up here. I noticed an offer of 1200 cars at 3470 - I'm curious if any of you euro guys see this sort of thing where there's a giant order that sticks around and whether if affects the market at all. Normally I ignore the order sizes in the DOM but when I see something that big that sticks around when price approaches it, I take notice.
Anyway - I may get blown out here but this immediate move does seem to be running out of steam...
Seek freedom and become captive of your desires. Seek discipline and find your liberty. - Frank Herbert
dont believe anything you hear and only half of what you see