sort of hard to do so on these examples as they tend to be focused on the beginning/end of a move catching a reversal...whereas my strategy is more geared towards the middle/meat of the run. On either of your examples...I would be watching the price trend up...once my opinion is set that it will continue up I will enter...now my question is whether or not to wait until the price retraces (how far) down towards that trend line before going long.
Do you tend to wait for counter trend movements to enter a position? ---> Do you wait for the end of the retracement movement to enter a position?
That's, rather, incredibly profound. Most gambling scenes in movies are. Now, if only, regular people would follow those wisdoms and lessons....they would be so much better off in life.
Good call. I deleted that post for that reason after posting and reading your response re:zdreg. DT and 123 setups do not answer your question. Keep in mind, a pullback to the horizontal trendlind at the trough of a Double Top is a good example of where to watch for simple candlestick formations like official hammers or engulfings at what was support and after trigger of the DT becomes resistance. So for that one, a guy can get a good Stop Spread, especially in comparison to a DT stop spread in the event he's done his due diligence stats and sees the trigger at that resistance line for what is now a continuation trade, not a double top but an entry at resistance formed by the triggered double top. Know what i mean vern. Do your stats. Your mom loves you but not enough to do your stats for you, lol. What's on your chart when you trade? Any moving averages?
Depends on where the target price is. If I feel there's still enough room for profit (from here to the target), I might jump in, otherwise wait for a pullback.
Generally, 98% of entries are counter trend, so trends are trending and wait for deep retracement and as it is dropping, position goes long. I can add up to 2 more positions and this is called averaging down which I don't recommend, adding to a loser...system must be well back tested. Will do strickly counter trend trades, again I don't recommend as takes years of study to become consistent. I take very few breakouts with trend like H&S, wedges and triangles as risk expands.
Moving averages yeah. I use a mix of sma and hull moving average crossovers for entries as well as a longer term MA to determine which direction I trade...so even if I get a bullish crossover, if it is trading under the longer term MA I can't go long...short only.