Cx, Thanks for posting your chart. I wanted to ask you, what made you enter at that particular point and not a little earlier? Were you just confident by that time that we were in the middle of a downtrend? I'm just wondering if you saw something that I am not seeing, and that is why I ask. Either, way it was obviously a good trade.
Sure is a lot easier to look back on a previous chart to find entries than it is to do it in real time. I made two trades today, using AHG, based on what I thought at the time were good entries. I lost 3 points on one and made 3 points on the other, so came out even. Looking back it is easy to see my mistakes. I was sitting on the fence for the whole downtrend, making all the right calls, then decided to jump in at the exact wrong time.
Anek, Is there a reason you didn't enter at approx 9:35? I think I can see "where the party started" though. It's where the first swing highs were that would connect the trendline right? Once you draw that trendline, then you start selling all the little pop-ups right? Hopefully what I wrote made some kind of sense.
Sorry, I have another question I forgot to ask. What is the significance of the "w" bottom you noted on the chart? Is it any different that a double bottom? I just did a quick google on it and all that came up was - "a double bottom looks like the letter w" Is it just another name for a double bottom or is it treated differently? It looks like it broke out past that middle section like a double bottom would.
I think the official name of that pattern is the 2B, although I could be mistaken. For what is worth, I play it like a Double B if at LOD. Anek
AMEN TO THAT! So many people always think they need to get a big better sytem and more realestate. It just takes your eye off the ball. Any good trader that trades futures can hack it with one monitor no matter the size. I did it with 2, but the second one got my attention maybe 10% of the time at best.
Confirmed, it's the Trader's Vic 2B pattern. The reversed version at the top, the M with the second top a bit higher but still taking the swing in the middle down would be the 2B bearish one played like a double top. Anek
LOL. Some of your posts are just hysterical. Maybe start a journal for AHG on how to drink Stouts? And just for the record, I wouldn't be spending the money it costs for those LCD's in efforts to make my penis mightier. One good solid colored monitor will be good stuff. Larger data makes for less analytical effort and a little extra space never hurt anyone. ~Cx P.S. <==Huge Since I didn't take the short on the initial close under the double-top valley, I took short what I saw as the first minature-pop pullback following it. That make sense jack? Good stuff! Why the line near the end of the chart stating "this is where you should start buying retracements" ? Were you basing that statement on the new swing highs/lows back up or were you actually referring to HH/HL over that level? Seems like once the last swing high was finally taken out in the prior trend that once you had 2 HL/HH swings that you should be ready to rock on any following pullbacks!! ~Cx