Buy any higher low and hold till
a) the base line is threatening to be horizontal, OR
b) too much too long sudden up-spike
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Short any lower high and hold till
a) the top line is threatening to be horizontal, OR
b) too much too long sudden down-spike
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What do I mean with "Top line"?
= Line joining the mt.everests of intraday price graph.
What do I mean by "Bottom line"?
= Line joining the feet of intraday price graph.
"Is the immediate higher low or lower high the only entry point?"
Actually, there are many false starts upside or downside.
To know that the movement is not false and will atleast go some distance, the fastest and most reliable method is higher low (for upside) and lower high (for downside).
Buying or selling on the first retracement is the smartest and wisest thing to do.
The trade should be triggered just when a tiny tick appears upward in a higher low and downward in a lower high.
Otherwise, although you will not miss the big move, but you will waste a lot of money in trade-expenses of the false moves (which are many in a day) besides exhausting you.
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Wait like a Lion to attack at the right time.
No opportunity, no trade.
Also, remember, this Brahmaastra applies equally well in Day-Trading as well as Swing Trading!
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