My apologies. I just realized that I neglected to fan the line again below this morning's higher high. Not enough coffee before posting. So this is the corrected chart:
MadeMan, It seems you have some kind of a plan, though not clear to us. Perhaps you can start a journal where you control your output and also we get a clearer picture of what you are trying to accomplish. Not only will you have the entire year to see your progress, you'll also get to make incremental improvements and have a record of it in one place. This in my opinion is better than haphazardly posting in another thread that may have a different focus. Good luck. Gringo
i stop trading for today , as i took two losses in a row , based on entrys , which atleast one of them i knew in advance would might get me into trouble.. ie. entry on the slightest "opportunity" shown these occurence might lead to a downward spiral , where i try to outsmart the market so i better stand aside and watch , and reflect
Mademan, If you are trying to learn this method, my humble advise is that you give a good read to what db has posted at the begining of the thread, include all the links. Then do the "hire yourself" routine, post your analysis here if you want so we can comment on it. From there we will see how it goes. For now stop looking for trades.
Finally a chart that requires some thought Price chokes at 77 for whatever reason and plunges through the demand line at the open. By their nature, these ultra-steep lines beg to be broken and nearly always are, but if one still needs them, they should to be drawn anyway. Likewise the short meets the criteria for trade entry, so that has to be taken as well, even though one knows that there is little chance of it holding. So he's prepared to bail and take the few points' loss and who cares? It's the first loser out of four trades. At any rate, price drops to the halfway level of the previous upmove and rejects that, another reason to exit rather than hold on and hope. But the supply line is not yet broken, so an SAR long would be impetuous at best. There is another retracement a couple of bars later just below 50, and in hindsight it works fine. But there are good reasons to wait until price has worked its way through all that congestion from Tuesday and Wednesday. When it does, there's a pause at midnight and an opportunity to go long, if one is up or is in the right timezone. The odds of this panning out are better than the odds of the retracement eight hours earlier. One can't run for daylight until he has broken free. Again, these charts are continuous, so if one doesn't know what's going on, scroll back through my preceding charts. This is the eighth or ninth.