I am new into Algo. Trading. Started of with the book written by J.Welles Wilder Jr. I have a question
---> a position is entered when a price penetrates the SAR. For the first day of entry,the SAR is the previous SIP
1. If entered LONG the SIP is the lowest price while in previous short trade day
2. If entered short the SIP is the highest price while in the previous long trade day
I Have a scenario in which I cannot determine if I am entering a LONG or SHORT day.
day - HIGH LOW
day 1 - 52.35 51.50
day 2 - 52.10 51.75
day 3 - 51.80 52.25
day 4 - 52.10 52.50
I am trying to Enter at day 5.
Can someone help me plz. Thank you in advance