Exit?

Here are some trades of the DAX this morning, London time. You'll see an additional indicator, the %R, one of Larry Williams inventions. I've included it on the chart to day to give some more ideas on exits. I'm working with a student I'm mentoring and his big issue was exits. We tried a few things and this one, %R, did it for him.

When the %R goes oversold, we look for an exit. It can be a Keltner touch, a particular candlestick pattern or just a close less than the open. It doesn't have to be the %R. An RSI could work just as well or something else. We all seem to look for a mechanical action to help.