4. 78% breakout long or short. (The Dive) Trade
The dive trade is a trade taken only in the direction of the larger time frame (hourly) this is a trade designed around catching a break into the next trading level higher or lower. When properly analyzed price pierces the 78% of the defined range and moves swiftly to the next level. You are basically front running the break of a previous high or low and expecting a continuation. The dive trade can also be used in Stocks, when trading breaks outs.
5. 78% fade long or short (Bully) Trade:
The Bully trade, is a trade that is used when price is reverting to the mean hence the word bully. Bully trades come into play when we are failing to make a new high or low in a range. a 78% represents a lower high or a higher low and should be used on non trend days, or when momentum has run out.
6. 50% long or short (Charge) Trade:
The charge trade is one of my favorite setups. It is triggered when the 3rd bar of the 15min chart closes. If all the first 3 15min bars are the same then you can draw a fib from low-hi/hi-low and trade the 50% retracement following the trend of the first 3 green bars. Use the daily and 1-2 hour hour strikes.