IN THIS THREAD: IronFist learns (the elusive) PRICE ACTION

Discussion in 'Strategy Building' started by IronFist, Dec 2, 2008.

  1. perfect entry!. You waited for a pullback then went short on the break of new lows.
     
    #541     Jan 13, 2009
  2. Can I get some expert commentary on what's going on here?

    It throws off my PA when a LL precedes a HH.

    In this particular example, the LL is preceded by a double top, which makes a little more sense, but rather often I see this pattern: low, high, HL, HH, HL, HH, LL, HH.

    It confuses me.

    Thanks.
     
    • wgo.gif
      File size:
      36.3 KB
      Views:
      283
    #542     Jan 15, 2009
  3. no numbers or reference to chart so im going to assume that its and outside bar on a higher time frame
    usually a sign of a good entrance off the higher high not sure tho cant tell what times are what frame ur in and cant reference it
    i know i would have traded that pull back in real time with the 5 candle set up up-top
     
    #543     Jan 16, 2009
  4. Tums

    Tums

    channels give it context
     
    #544     Jan 16, 2009
  5. those are really crazy lines as well you only needed one

    my guess that the 2 tops happened at pyscho rr zones... so you only needed one line to trade that

    the one across the center on the pysch rr...

    the long candle on the down side gives hints to direction

    edit: you have come a far way.. even if you dont know it yet ive been watching ... even tho that sounds creepy
     
    #545     Jan 16, 2009
  6. Here's a perfect example of what I'm talking about. This one is opposite in that it's HH and then LL, but same idea as before, just upside down.
     
    • wgo2.gif
      File size:
      77.7 KB
      Views:
      178
    #546     Jan 16, 2009
  7. I don't see how those could have been drawn in real time.
     
    #547     Jan 16, 2009
  8. the couldnt but in that picture you just posted that one is easy about the LL

    its at a pyscho ZONE
     
    #548     Jan 16, 2009
  9. look at your reversal areas they are all in pysch zones 25 00 50 75
    add a pivot a fib line and a psych res zone with "exhaustion" and you get reversal
     
    #550     Jan 16, 2009