A reversal is when your system says so. A pullback is when your system says so. You system determines whether it is a pullback or reversal. So, work on the system.
Sorry, I was merely generalizing and didn't mean to imply that you were a noob. But you can try whipping my butt anytime you please.
I'm sorry but I think I'll let this subject matter rest. This wasn't the way I wanted to carry out the dialogue. I'll think twice before making my trading views known from now on.
If you people can't define this shit - how the hell can you trade it (rhetorical) So let's see if this sage ole trader can straighten it out First - there are three classifications Reversal Pullback Retrace Below assumes shtf notwithstanding of course Reversal = occurs cycle high / cycle lo Accompanied by a separate.., and distinctive volume foot print ============ PB = occurs on the TTF when price pulls back to the current TTF's TL.., then resumes Also accompanied by a separate..., and distinctive volume footprint This one a low risk trade gents - learn it well ============== Retrace Exceeds the TTF TL..., possibly traverses to the next higher TF's TL (unless the next higher TF and TTF TLs are aligned - then obviously exceeds both simultaneously)..., If/ when it exceeds the next HTF's TL it'll move to a S/R area Also accompanied by a separate.., and distinctive volume footprint ======================== Could spell this out black and white - but why ruin the fun of discovery.., and besides..., I'm feeling damn sage Love you too Schizo RN
Thank you for the compliment. You clearly don't understand what I mean, but I will refrain from reacting because ET is costing me too much energy, wasted energy. There are other more interesting and pleasant things on my priority list.
Once again, without definitions tagged with chart examples...everybody ends up not understanding what the other is talking about or "think" they understand without knowing they really do not understand.
Correct. My posting was incomplete, I was too lazy. And if posters are even not able to reply to the correct message it becomes more difficult. Or hilarious.
I went long ES 20 mins ago thinking it was only a pull back (I got stopped ), but is it in fact a reversal?
This captures very nicely what I think schizo intended with this thread. Lots of people are getting into all sorts of definitions and time frames, which I guess is fine if you're going to really decipher this, but ultimately, this is what it comes down to. If price is rising and drops momentarily, but starts to turn back up, you want to know if this is in fact a retracement, in which case buy it, or if its a reversal, in which case it will be a lower high and drop some more. If you know which of these two it is, then you will know to either buy it (ie. a retracement) or sell it (ie. a reversal).