When a bar exceeds volume it is a set up bar. If the VERY NEXT bar breaks it , then you have entry. But if not , then no entry. You do not wait several bars later to break it. If several bars later you have another volume bar , that would be the new set up bar
Step By Step Boomerang Rules
zapped123
#43
[quote=darrell]TOP OF HOUR RANGE BUTTERFLY OR IRON CONDOR
This could be done on 60 minute, 120 minute, ie 391 min on corn/soybeans, or daily 1440 etc…
Putting a limit to buy a strike below the low channel for 85 and a to sell a strike above the high channel for 85. Sometimes both will get filled. Usually one will get filled. In all cases exit if the market hits the strike (or if strike is beyond the range if market breaks the high/low of the range by a tick using stop trigger[/quote]
Hello,
I’m new around here but I have a question about what you said above. Did you really mean to both buy below and sell above the channel at $85, or was this just a typo? It seems it would make more sense to either sell above the channel for 15 and buy below for $85, or else sell above the channel for $85 and buy below the channel for $15 with the former scenario being the most probable one.
drestew
#46
I don’t understand the exception for phase 2. The rule states volume exceeding on setup OR reversal and here it is on the setup. Why the need for the exception? And in the exception it says that the Hi-Lo >75%, what makes this important since #3 says >75% OR Volume exceeding. Also, Hi-Lo >75% can be on either setup or reversal?
[quote=ultimatrader10k]Excellent example of the Exception of High Volume ON the reversal bar on P2, Reversal Bar Low Volume
[/quote]