Price is in a downtrend from the open and below the Supply Line. The possible set up to buy at 32 would be a Double Bottom counter trend reversal...
1. Choppy Grind towards sup. with LH/LL / more pronounced up move towards res. with a clear indication a LH that price isnt interrested to go any...
While price did bounce off the 32 level (first created during PM and then later confirmed at 10EST), one would be entering in the middle of the...
Pop Quiz: 1. Why was going long off "support" at 32 at 1000 not such a great idea but going short off "resistance" 45m later a better one?...
No indicators were used. Yes somewhat i am trading patterns in these strats - nothing like head and shoulder, wedges and so forth like any...
You just answered your own question. You're not trading price action; you're trading patterns and indicators, both of which will fail you over...
I have noticed one thing when developing strats is that intraday price action strategies (ones which look for recurring themes in the data e.g....
That wiki entry makes funny reading, I think I like him already.
Thanks DB, will incorporate some of this and Gringos comments in my notes. I have a clearer understanding now than I had yesterday. I think...
About this midpoint thing. This morning provided a good example of what happens around these levels. After midnight, traders futzed around...
Yes, the three steps are a logical progression. And you want to see what everybody else sees, which means at least an hourly and a daily chart....
Thank you DB. Sorry to labour the point, hope this is not coming across as really dumb but I'm still a little confused. Why determine the trend...
Truth and clarity sometimes oppose each other, so it's best to resort to what's practical. No, trend does not apply only to dailies and weeklies....
Thanks DB, Just to clarify. Positioning ones self in the trend only applies to Daily's and weekly. Intraday we can take a whatever...
The second entry is a short because that's how trading price works, and how markets work (and why reward:risk ratios are useless in daytrading)....
Now you're faced with some interesting choices, and these do require a little thought. Not much. But some. The first RET technically is not an...
Perhaps this will give you something to chew on, from April: Trading price begins with determining the context, i.e., what is the market...
Another example: First, this is what you should have been looking at during today's session (7/1), whether you were trading or just observing:...
Given that the original Straight Line thread is now well over a thousand posts long and given the number of sidetracks it has taken, I'm spinning...
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