Well its been a while since I've posted, but I am going to start again, hoping that the new and improved boru is better prepared to trade. This is a work in progress and so am I, I would not have believed it would have demanded not so much the amount of education ( the right material) but the changes I needed to incorporate in myself. more on this later for today price has been trading in a range the 2-24 and we are at all time highs its going to have to break out sooner or later, until then I am going to use AMT and SLA to help track price
these notes are unedited and show how I saw price trading today. I am making an effort to see only movement not entries . 9:28 premarket thrust to ovh 9:30 rejected 9:32 price BO above ovh 64? 9:34 RET? price using ovh as S 9:36 seems reluctant to go up overlapping bars back to ovh 9:37 RET? poking below ovh 9:39 grinding upward ovh acting as S if I were forced to take a position I'd go long lets see what the market teaches me 9:41 lol price drops below ovh 55.50? 9:42 price trades below 55.50 and closes below 55.50 am trying to pay attn. to how price acts at s/r poking above/below, how much, closing above/below, speed ... 9:43 watching the right tick price climbs the 9:42 bar the trades back down gamera mentioned this behavior in his post you can see this on a smaller bar interval but every time I do that I screw it up 9:44 price trades below ovl 48? 9:47 pace is slowing price seems to want to rest and rejection? 9:50 trading up to ovl 9:53 above ovl SL break 9:54 ret and higher prices 9:58 price trades thru 55.50 and in a hurry to the ovh I have a note replay 9:57 bar 10:01 above ovh back to 62.25 64? 10:05 price cant stay above ovh drops to 55.50 congestion 10:12 thought higher prices were coming then bottom dropped out back to ovl 48? 10:18 trades back to 55.50 rejected RET higher prices ? 10:25 hinge? price is moving highr ovh will tell 10:30 rejection at ovh? 10:35 price pulls back testing ovh not sure if I would have been trading this, would have 3 months ago recognizing it for what it is I'm learning its best to just sit sometimes 10:36 price couldn't trade back to 61.25 highs failure and a drop to 55.50 ( popular today) 10:37 does it mean anything if the pa in a hinge is tilted to one side? is there a tell here? 11:00 price trades in a tight range between 55.50-61 done for the day
surprised I didn't notice earlier the entire days trading up to now has been in the upper half of the 60 min range 30-64
price is still trading in large range at the top of the daily trend channel, the range is taking on a slightly upward tilt, not sure if that means anything. but it shouldn't change the levels where sellers lower their price to attract buyers and buyers want it bad enough to pay the ask.
at this time I am watching price behavior around levels on the larger bar intervals, this does a couple of things to help me, 1. its usually more important S/R, 2. it keeps me from overtrading. I am grateful that another round of traders wanted to explore the SLA/AMT, I am picking up some things that went over my head before.
pretty amazing stuff ,to me anyway. I had thought the AMT had run its course and was pretty much using the SLA to trade S/R on the 60, I had left after 11 and when I came back I see where price is back into the range. I subtract the High and low from the median and its nearly 20 points, mean reversion.