My nq price action method

Discussion in 'Journals' started by slugar, Sep 1, 2013.

  1. slugar

    slugar

    Still short 4122
     
    #1081     Jan 29, 2015
  2. slugar

    slugar

    out 4103
     
    #1082     Jan 29, 2015
    theapprentice likes this.
  3. NoDoji

    NoDoji

    For me, the round number area is strong defense level in general and if price tried to break more than once and failed, I'd consider taking profit. On the 1-min you can see a failed flag pattern around 9:45 - 9:50. That's usually good for decent counter-run and possible reversal.
     
    #1083     Jan 29, 2015
  4. NoDoji

    NoDoji

    Yeah, just like that :D
     
    #1084     Jan 29, 2015
  5. NoDoji

    NoDoji

    I realized later that you're question wasn't about when to exit, but when the trade is invalid. I can't help you there, because of the timing of your entry. I'd have waited longer before shorting.
     
    #1085     Jan 29, 2015
  6. slugar

    slugar

    you would have waited until 930cst when the market retested that level?
     
    #1086     Jan 29, 2015
  7. Redneck

    Redneck


    PA trades are typically predicated on a signal within context …, specifically taken on the supporting PA of said signal (I'm discounting momo / time & volume entries here)


    A trade becomes invalidated when that signal is no longer valid – and / or – the context in which the trade was taken is breached


    Some examples of where a trade would break down


    Trading a range; long the bottom / short the top

    Breakdown = breach of the top…, on a short / breach of the bottom…, on a long


    BO up; breakdown = breach of the upper range

    BO down; breakdown = breach of the lower range

    BO PB to the top…, or 50% level of a range / BO PB to the bottom…, or 50% level of a range breakdown = breach of the the level price PB to (recall we don't enter on the PB - rather the PA supporting the PB has ceased and the BO move resuming)


    Note

    Need to be careful with above stop placements – sometimes liquidity pools are created only to then be exploited - dem bastards :D



    Trading a DT; breakdown = breach of the DT - or possibly the subsequent LHs depending on entry

    Trading a DB; breakdown = breach of the DB - or possibly the subsequent HLs depending on entry

    123 reversal; breakdown = the breach of TL made from the 3rd leg HL / LHs…, or…, breach of the 50%** level of the 1st leg (** 50% not always an exact – as the strength of the reversal varies - this is trading after all not science)…, or breach of the previous L or H (just prior to leg 1) – just depends on where the entry occurs

    Trend (LH / HL); breakdown = breach of the TL

    Trend PB; breakdown = breach of the PB range counter to original direction.., or.., breach of the TL price pulling back to

    Close of 1 bar / open of the next; breakdown = breach of the L…, or H of the bar just closed - okay so I included 1 timed entry - but it could also be a form of a range / trend on a higher TF


    Need more examples – say the word


    RN
     
    Last edited: Jan 29, 2015
    #1087     Jan 29, 2015
    PABuster, jsmacksem and gears like this.
  8. jsmacksem

    jsmacksem

    We're you managing that trade at all? If so, how?
     
    #1088     Jan 29, 2015
  9. jsmacksem

    jsmacksem

    WOOPS. Didn't see previous posts. My bad.
     
    #1089     Jan 29, 2015
  10. slugar

    slugar

    Happy Easter to all of my et friends
     
    #1090     Apr 3, 2015