Darn, I knew there must be more going on. The rise up was of course extremely fast and these things always retrace, but I'm not sure if that had anything to do with the entry since a retracement wouldn't give you such a low target as a retracement might only be 50% of the up move anyway. Can I ask this then? How often do you skip an entry that sets up simply because of a 50% level or a simple trendline on a 30 min or hourly chart? Would you say you take less than half of them or maybe even just a quarter?
what happened there was a double confirm.... TL kiss from under alligning with 50%... that`s when you go all in! I find tremendous value in TL`s & could make a comfortable living off those alone! As far as taking trade at 50%.... it all depends on time of day, that`s huge, as well as Bar set up confirm... employ as many indicator confirms as you can... I really should`ve sold Much Much larger there at 18.50... especially on position account... I`d just woken up, blurry eyed & working on first cup of coffee... that was an ALL In set up on both accounts.... An absolute Gift!
Volatile market = GOOD profits 11 trades today with ZEROOOOOOO loser... This concludes another good week
Excellent, thanks. But since I'm not seeing it, can you point out exactly which trendline you're talking about? I too notice how powerful moves can be when multiple things align. I personally love VWAP, and when this aligns with something else, the move can be very powerful.
I was asking about the trendline that would have been at roughly 4520 to allow the short trade to be taken at 4518. I think what you're showing is the trendline for the past few hours after the open.