I am looking to enter at about the 2nd higher low. Ideally I would be expecting the higher low to form based on looking at the larger TF and determining market bias as bullish. As the second higher low forms you can see the candlestick patterns form imdicating a probable change in direction and a new leg of upward price movement.
It depends on your timeframe. All trends have the beginning of the next contained within it - in an overlap zone. Trends exist in two bar combinations and build from there. Trends go through a sequence of events as they mature. Trends can complete on their own or be interrupted by a rapid change in sentiment. As a long trend established itself with a HH and HL, the moves from HH and HL as well as HL to HH can be expanded from tapes to traverses. The ends of traverses establishes a channel. Channels are the trends most frequently referred to when identifying trends for they exist on a larger timeframe and easily seen without training. Price will oscillate within this annotated channel until the end of a trend which is easily seen by the XO of the RTL. There is an event that comes before this which takes place at the LTL. The failure to traverse exists on all trends. It's can be referred to as occurring on a single bar in fast paced trends and multiple times on slower trends that roll-over from acute slopes of the RTL. This might be similar to what Xela refers to as; "with-the-brand-new-trend-that-I-hope-has-just-started-now" None of what I describe can be seen unless one takes the time to understand bar-by-bar analysis. Coupled with the volume relationship, it provides a granular view of the market that is as accurate on fast timeframes as longer ones. In your diagram, what volume has done through this trend would be the determining factor of whether to be long or short at the arrowhead. edit: A trend is composed of a Dominant move, a non-dominant move and a return to Dominance. These could be called trend segments.
%% REAL helpful book of his + separate jack Schwager interview. BUT i found his trendlines not very helpful- that could be a good thing, we dont want all ,doing the same thing-markets dont work well when that happens,,
I trend-follow only, and only on multi-day timescale. I don't look for higher highs and lows to define trend. My entries are, if its a long and consistent trend, on literally any excuse for a candle or bar pattern that is not setting a new extreme of price. More important to be in the trend than try to finesse entry signals.
Stock days I used to pay more attention to the Index ie Nasdaq if Bullish I'd look for a Bullish Sector, then D1 charts I'd look for a stock turning up over 9sma/21ema, then I'd ride it swing style. 2/3rds of my position would be in Longs, 1/3rd would be in shorting a bearish sector, that way a bad index day would drag the shorts lower, to make up for the hit on the longs. About 4hours per day of Prep work, a customer screener I used to copy/paste about 1000nd stocks into from a multi page stock list, go through 100's of charts, flag stocks of interest, presetup which sector they where in, so I could easily view sectors. I turned a 2K account into a 6K account in 3months, then 6months blowing 2k-3k per month, damn Datek Debit card made it too easy LOL, then pattern day trader rule stopped me dead
sure they are, may be you guys also want the key from the safe with money ?... it is not math of astrophysicist forum where people discuss the public knowledge and where if there is answer to the questions it will be given OP was given some ideas, the rest is up to him
If people are intentionally being ambiguous then what is the point in being on this forum? If people only reveal the unimportant info and keep the important info close to their vest then it is more worthwhile for newbies to spend their time analyzing the market themselves rather than on this forum which will contaminate and confuse a beginner's mind. If that is the case then the only use for this forum is entertainment and networking. Even with networking, those worth networking with I.e. successful traders are only interested in networking with other successful traders not with newbies. One such trader told me I need to have an annual return of atleast 500k to join his group, something which I am no where near.
Well, everybody has their reasons for being on the forum: some are here writers, some are readers, some are for entertainment, some are for knowledge, but I suspect that to teach somebody how to trade is at the very last of the list of reasons , Anyway to expect from people the whole truth is to "insult their intelligence" , and nobody, I believe, is trying to misinform or to lie to the OP, he was given some truth, which is better than nothing. It is astonishing that I have to explain this, but I guess as the say here: "The obvious in not so obvious "
You can sugarcoat it however you like but in my book a half truth is a whole lie. If you or anyone else doesn't want to post the whole truth then it is better to not post at all. Silence is better for the sake of your conscience which is more important than your "intelligence".
Ok, so block me and you will get what you looking for , but let me decide what and how to say when I want to say something