Look for a series of bars (usually 1 to 3) where the price pulls back or moves sideways.
For those looking to automate these rules, open-source scripts like the UCS Steve Primo Strategy 4 on TradingView can plot these signals directly onto charts. UCS_S_Steve Primo - Strategy 4 - TradingView steve primo strategy 4 pdf
While Strategy #4 can be traded standalone, Primo often pairs it with his proprietary Primo Early Trend Detector (PET-D) to color-code bars (green for bullish, red for bearish) to confirm that short-term momentum matches the trade direction. Step-by-Step Execution Rules Look for a series of bars (usually 1
Do NOT hold to expiration. Set a Good 'til Cancelled (GTC) limit order to buy back the spread for (90% profit). If the spread moves against you and the value increases to $1.00 (double your credit), take the loss immediately. Step-by-Step Execution Rules Do NOT hold to expiration