I was waiting on that one, all it needed was one more tick. Did take a nice scalp at the break of 60.75. I guess it is a day of patience. Piscuy
jdconner, I am confused by the chart you posted. You have a note at the bottom, "didn't close below middle swing on double top? " What double top are you referring to? All that price action is occurring before there was a double top. Where you have a green circle marked, ENTER, (enter long I presume) you have a trendline break, but otherwise I dont see any AHG buy signals, only one high that is higher than the last LH of the downtrend. Jaxon Here is a 3000-vol chart that shows the bigger picture JD
Vacation Time Due to an above average (understatement) summer trading with superb volatility I postponed by vacation. Today had no real conviction (for now) and tomorrow is "triple witching" and usually I stay off those days because they are choppy as hell so decided to take my much needed vacation starting tomorrow. Surprising the family today with the good news. I encourage you to keep on polishing your skills while studying price action at micro and macro levels. Feel free to interact among each other. All you really need, aside from discipline, has been posted in the journal. Good trading, see ya all when I get back. Anek
Hey if you get a chance check out my post (should be 2nd post) on page 296 of the thread before you blitz, if not no biggie. Hope you enjoy your vacation ! Drink a few stouts for me. ~Cx
Remember that there are people watching the markets in a whole wide range of time frames. Some watch it on a weekly basis, others mothly, daily, hourly, minute and even ticks. Yes you can have a formation within a formation and another one inside it. It all depends on which time frame you are seeing it. You may not even see a wedge that people in the daily are watching, but they are not able to see a consolidation that goes on in the 1500 share chart. In my experience, the higher the time frame of the formation the higher the probability it has to work, and usually the more players in it. Does this answer your question? Piscuy
Anek, have a great vaca! jd, thanks for clearing that up for me. Your charts are on exchange time, mine are eastern time and the price action was so repetitive I got a little lost. Should have been able to figure that out myself!