Inverse H and S looks ok but little more confirmation there. Trendline looks ok The following does not look ok: -If the trend is up You want in at pullbacks ie Trendline tests, this gives you the biggest risk vs reward. You could have easily drawn your TL once the 2nd swing low point not sure why you waited for 3. -Overtrade Yes, very much so, be patient, this is not Donkey Kong where you press start and off you go. Think like a predator. Wait and wait and wait then attack. - Trendline break Noise got you. If the trend is up and the trendline breaks by a close + tick, you must still wait for an additional swing down and then on the next pop up you short it. Why ? Because a simple TL test/break/noise is good enough to exit the long but not enough to reverse because the previous uptrend has to be respected. Hope this helps. Anek
I agree, but just to make something clear... before you can backtest anything even by hand (or front test) you need to know exactly what your setups are and in what circumstances you take them. Most beginners can't do this. It takes lots of observation before strict rules can be defined. Just my opinion though. Hope that makes sense.
NQ Symm Action as expected by the extremes it is now at the low point. Looking for reversal formations around here. No buying unless one solid one forms and confirms to prevent the purchase of a falling knife. The point is price is at support, the reversal formation is now missing. Targets can be APEX and other extreme depending on greed and balls. Anek
After clearing the chart and looking back I realised I had just 4 potential plays. 3 quite valid and 1 not very sure. Please do comment. dt
Thanks for the advice! The redbar I shorted on was indeed narrow. I took it because it came after what I thought was a long red bar penetrating the uptrend line. Evidently I was wrong!
Great help especially regarding the TL break with additional swing! Do you think switching to the 10000v chart might help with my trigger happy syndrome? dt