huge gap up on RTH chart and a break out to new highs. if momentum stays then R3 might be possible. 2 levels (RTH and ETH) 30m RTH chart 60m ETH chart
daily chart with fibs and horizontal lines (magenta) for RTH and ETH R3 pivots there are 2 fibs drawn. one based on inside swing which is what current trade was based on. the 2nd larger fib is from 20 day swing low on 1/8 swing high on 1/24. my "way-out" target is sitting right around the 38.2% extension which is confluent with 87.5% extension on 60m chart. watching round numbers and order clusters near them and observed levels.
The trolls will find a way regardless the amount of documentation by him...they're a jealous bunch here at ET and they can't post anything in comparison. It's nice to see another trader that values market depth info in their trading...most do not because they're too fixated only on the price action of whatever they're trading instead of viewing the entire market context. By the way, love the documentation. Yet, why post your documentation of your trading here at EliteTrader.com in comparison to another forum, your own blog or own website...the latter you'll be in complete control of your content instead of the forum owner along with the fact that you'll be able analyze whom is viewing what, from where, time of day and other behind the scene info ? My point, do you have another trade journal elsewhere and this is just a copy or whatever info you've pulled from your trade journal elsewhere and that other (original) source is much more in-depth about what your doing ? I'm curious, do you keep track (stats) on those missed opportunities ? I myself do and discover it contains a wealth of info that's very useful later whenever I need to adapt my trading when market conditions change to something I'm not familiar with. wrbtrader
ok, my trailing stop got hit about 5 minutes before 3pm cst. will post a series of screen shots with commentary for this trade that i took along the way while spinning some other plates in the air with construction going on around the premises.
yes, this daily chart looks messy but take away the moving averages and Donchian channel and it has 2 fib drawings and a couple horizontal lines that i think i commented on earlier in the trade. i think i snapped this shot to show how price had advanced beyond the R3 pivot level for RTH(regular trading hours) and wanted to show time stamp with the clock in the pic. note there are 2 ascending channels drawn with different anchor points but both are telling pretty much the same story and i was eyeballing their intersection with fib extensions and R3 pivot levels (magenta horizontal lines).
trying to post these in sequence so here's the next shot showing where i move stop up to a swing low. i know not technically a swing low but it shows up as such on say a 5m chart. 1 tick below wick of hammer. the idea is this makes trade not win, lose, or draw, but WIN.
prior to moving stop i'm checking under the hood so-to-speak at multiple time-frame charts (5,15,30,60) just to see what's going on and all of them are still flying in formation above respective ema(20).
a bit hesitant to post this cuz it may not make sense but i took a screen shot of me attaching my stop loss to a lower 1 period donchian channel (set to invisible) at -1 tick and also set to "calculate on bar close". this is my duct-tape-hot-wired automatic trailing stop that i will sometimes use and does the job just fine for my purposes. it can get you into trouble though if you forget it's engaged and you dont' want it to be. it's happened to me more than i care to admit.