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Ok, Ill play devil's advocate here. What is so special about 15 minutes. Why not 12 or 23 or 5. Is 15 just picked out of the air. Also, the word "Around" is open to interpretation. Is it 1 or 2 ticks in either direction of your entry. Or is it 3 ticks.
No offense is intended, but just because you read it in a book, doesn't make it a sound strategy. |
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15 minutes is half the opening range of 30 mins. Nothing more special than that. Althought a trader could get more creative and pick a FIB or Music Math number. The point is that you want to be entering just as, or right before the influx of the dominant order flow. This causes price to rise or fall. If there is no new surge of order flow than price doesn't move much. Hence anybody that would want to get long, for example, can do so at about the price you did. In a good trade, each person that wants to get long, has to pay a higher price than you (the market is moving up).
So you want to position yourself on the side of the dominate order flow before it begins, yet you do not want to be waiting too long for it to appear.