Anek, that double bottom with the Trend, does that mean you play by going Long in a successful double bottom in the middle of a HH, HL uptrend ? Or are you inferring that you play by going short in a failed double bottom in a LH, LL downtrend ?? Or do you do both types of trading ?? thnx The
Thanks for the star Anek, it means a lot to me Well, I think YM is not covered in this excellent educational thread. So, I will try to post pretty simple trade setups on a daily basis for critique and suggestions. The methodology based only on price action and support/resistance. Symbol: YM #F Constant Volume: 300 Time: EST, 24 Hour chart
I buy the support of a double bottom with a miniature stop only if the trend is up. If the double bottom is formed at a present LOD I need to a see a bar closing above the swing that separates the bottoms before initiating a long position. Which is nothing more than double bottom support + an up swing and essentially a new birth of a trend. Anek
Just a show of support on my part. Wouldn't call myself an "experienced trader" ... yet, although my handle was registered only recently, my years of lurking in ET as an unregistered user since the first days of "the Big Cheese's skirt-trades" might qualify me as sort of 'experienced' enough, by some stretch of the imagination hehe, to comment ... Anek, you're doing a fantastic job showing there's no voodoo involved in successful trading ... let's presume voodoo sellers feel their business is threatened ... that's right, just ignoring them will do. Your generosity with your methods have trimmed off superfluous indicator considerations from my trading screen, although some are retained but used with a fresh perspective. My sincere thanks to you. Would really love to contrbute, if only I could qualify enough or come across something relevant to share. Best regards ~ave
Rn, That's great news. Judging from your past two charts I'll be looking forward to them. I'm sure many appreciate the effort, myself included. You will notice that posting your own analysis will not only help others but also improve your very own trading. Anek
Ave, Thank you. If you got access to a printer, print a detailed layout of an intraday chart you are familiar with and study it in micro detail as you lay in bed or sit in a waiting room, etc. In time high probability setups with small risk will start becoming more obvious than you can imagine. Anek
I will play. Attached is my understanding of your play. My marks are in yellow. Freewilly P.S., Just read to RN's post. He explains it well.
A. I hate to see too many compliments to you here, you may get a big head and become an elitist, but I don't think I sense that is in you. I suspect the folks that are PMing you with negative comments, are folks who are themselves struggling, perhaps making some headwayj, but are not confident enough in their abilities or methods to understand that even though you might be offering information without secondary motives, there are realistically only a small percentage of readers who will have the ability, disicpline, fortitude and wherewithall, to utilize that information to make themselves successful. Therefore, you pose them no real threat. Ignore these miscreants. What I said is true, only a few of the followers of this journal will be able to incorporate what you have simply stated into their trading, for a variety of reasons. But the fact that you have offered, says a great deal about you. D.