"I'm starting to monitor the movement of ES closer, and have switched to BAR charts since the last session. I find bar charts a lot cleaner, and this really helps when I'm watching 5 charts (4 for TF and 1 for ES). I can still see my stars and hammers and engulfing and haramis, so I'm really NOT missing my candles." -Trader J.
I don't trade YM but the area where you took your short corresponds to the 825-828 area on ES. See my attached 15min chart, it goes back about 4 days, and all the circled areas show you why this region is a pivot. Basically, almost every time price has encountered this region there's been some kind of disruption in the trend and indecision in the market, enough to be clearly visible on the 15min chart. I'm sure that the the same thing shows up on your chart at 7990-8010 or so. When you took that short you were "selling into" a major pivot. On my chart you see that we saw some support at the 826 area (YM ~7990), the move below that level was quickly rejected, and as it happened price bounced there again and started going up. I'm not making a judgment about whether the trade was correct or not, just showing you that price does not just suddenly choose to reverse and take you out, but does so in a predictable way.
Only FX 2 arrow top down on ascending tops trendline 2 arrow bottom on ascending bottoms trendling channel creation moving into 2 points descending tops only 2 touch no third break through with congestion looking for retest of new ascending tops to short several entries made third touch to the line limit at line when price is behind it... stop at red. target midline 1/2 position full exit blue opposite side
i'm long: AXP from 16.5 ISRG from 100.43 and FSLR from 141.45 ..... can you tell me why I might be going long these stocks that got beaten down so much?....what do I see? this is a test hope all is well in your trading
i can see why i would be thats for sure same reason im short in here pulls to the cut-through touches Line we got red at the red ... KHHH "please remain seated, keep all arms and legs inside the Forex vehicle at all times"