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I was looking for some different ideas for Range chart set ups.
Currently I trade CL with a 5 min and a 7 range. 14 and 50 SMA. Volume up down. I watch for a trending market on range and confirm it 5 min.
entry is 1 tic beyond the second candle of the same color if the volume is 1 tic higher. stop is 1 tic beyond the first candle. so for a 7 range... the stop would be a max of 17.
Due to the slow action over the past 2 weeks I am playing around with 4 and 6 range.
back testing my system over the last three months has killer results. However the past 2 weeks have been terrible.
I think it is because the ATR has fallen.
Any Who... I was wondering if any of you had any trade set ups you would like to share in regards to trading the Range charts
Can you help answer these questions from other members on NexusFi?