The best entries lean against some recent structure which limits movement against the position and provides a logical place for the stop.
Unfortunately though, the market cares little for what we want to see in an entry.
So how do we get in when there is no recent structure and we're trying to time entry to a market that is still pulling back against our expected trade direction?
Let's start with the Higher Timeframe Chart to get some context.
Let's go to the Trading Timeframe Chart now. And we'll move forward a little to see the rally up to the general setup area.
Because there are some concerns about exactly where we should be looking for the trade entry.
This chart has no decent structure to lean against at all.
Here's what we DON'T do.
I'll move to the Lower Timeframe Chart to demonstrate this.
So what do we do instead?
Back to the Trading Timeframe…
LET IT TURN!
Then find your entry on the other side.
Let's step through the trade on the Lower Timeframe Chart:
- You don't have to buy/sell the absolute turn point.
- If there is no recent structure to lean against and provide a logical stop location, then LET THE MARKET TURN.
- Get in when your trade can lean against the recent structure created by the turn.