If You Can Draw A Straight Line . . .

Discussion in 'Journals' started by dbphoenix, Jun 28, 2013.

Thread Status:
Not open for further replies.
  1. Redneck

    Redneck

    Sure walking like a duck and quacking

    Let's see if the feathers show up

    RN
     
    #301     Jul 24, 2013
  2. dbphoenix

    dbphoenix

    I don't recall swings of this width, for such an extended period time, with such well-defined limits, for no apparent reason other than earnings. It won't last, but while it does . . .
     
    #302     Jul 25, 2013
  3. niko

    niko

    My view before the open of NQ

    60 min

    [​IMG]

    5 min

    [​IMG]
     
    #303     Jul 25, 2013
  4. dbphoenix

    dbphoenix

    Nice trade this morning, posted by jamespond on another thread.

    See how it all works?

    [​IMG]

    Edit: And, yes, there are further long ops 20 and 40m later.
     
    #304     Jul 25, 2013
  5. I'm seeing pretty explicitly how higher timeframe sup/res levels are generally more important than lower timeframes and trendlines.

    I've done this sort of sup/res analysis before but found that it's easy to go overboard drawing horizontal lines at *every* turning point. It can make for a mess of horizontal lines that all appear to have equal weight or importance.
     
    #305     Jul 25, 2013
  6. dbphoenix

    dbphoenix

    In the same vein as the quint I posted yesterday.

    [​IMG]
     
    #306     Jul 25, 2013
  7. dbphoenix

    dbphoenix

    True. If the "turning point" is trivial, then whatever lines are drawn from it will be trivial as well. Which is why I posted the last two sets of five charts -- and the two above -- to show how one determines whether or not a swing point is trivial.

    On the other hand, much depends on bar interval. If one is scalping ticks, then every turning point may be "important".
     
    #307     Jul 25, 2013
  8. dbphoenix

    dbphoenix

    And, again, once you're in, it becomes a matter of management:

    [​IMG]
     
    #308     Jul 25, 2013
  9. niko

    niko

    Today´s action:

    [​IMG]

    1.After finding R at the premarket high sellers pushed had, shorted the first RET visible in the 1 min.
    2.Got distracted and missed the break of DL and the fact that there was a HL, so missed a proper exit and a good entry that proved to me a profitable move.
    3. I am missing something here, but dont know what it is, did not take the short at 10:12 as I did not trust the LH to be of importance, I guess the increase in volume at my entry bar and the fact that it closed on the top should have been reason enough to exit, but....
    4.Shorted the first RET after the BO of what I considered chop, was not a great trade, but at least not a loser.

    Any comments will be appreciated.
     
    #309     Jul 25, 2013
  10. Gringo

    Gringo

    Hi Niko,

    To me it looks likes your own analysis of the problem is accurate. You just lost focus from 9:45-9:54 and within that 10 mins or so span the boat to potential profits was missed. Concentration is the key word here. Maybe some sleep, fish oils, broccoli coupled with talking to a friendly person like me would do the trick :)

    Good luck.

    Gringo
     
    #310     Jul 25, 2013
Thread Status:
Not open for further replies.