some spare time this afternoon, I'll try to explain how I identify the potential 60 minute fishing pond with high percentage chance of catching a quick 50-70 cent momentum hit. I'll try to do it without writing a book-----I don't have time to write out my whole Fishing Guide but I should be able to give you some idea regarding the Fishing Pond setup.
Identifying the potential pond is the easy part but they always have plenty of suckers. Take a look at todays Oct 60 minute chart-----its a good picture of a desired pond setup that worked to perfection 80% of the time------20% of the time they don't work this well. I had a sell order @ 54.20 and a pair of lines setting @ 53.82 with damage control @ 54.52 in case they were suckers. Deposit orders set as soon as I got the entry fills, set @ 53.40 and 53.20. Phase II triggered sell stop fishing lines sitting @ 53.05, which I just took profits on 1 @ 52.80 and damage control @ 53.25 in case it proves to be a sucker.
I'll try to explain the reasons I made the choices I made due to multiple rules that I have learned the hard way that they are necessary based on the Prime Directive-----Don't lose your Funds, when unavoidable----keep the donations small.
Gotta go my Aug lines @ 68.52 got hit