You're working well on the diagonal... but somewhat light on the horizontal Price works both diagonally and horizontally take a look and tell if it this makes sense (also noted are 2 potential trades) eta - btw your range is a range - at the bottom of a bigger range RN
Volatile, big bars and big tails, confuse me a bit, especially near the open. I think I tend to wait for the dust to settle. But the more I study them it's clear they are readable. I grew up on lateral S/R and now need to bring it back in and blend it with diagonals. thanks for notes !
Big bar (the initial one) If they have follow through (looking at volume on a lower TF) are Volume pushing it out of a range (most âinitialâ big bars are in areas of a BO) Volume of the stops / exits Volume of the new entries Train is leaving the station â all aboard Big bar (initial one) (no follow through (may have a volume spike.., but then no volume follow through - on a lower TF)) Run the stops/ lull in the less astute / reverse and screw em all But don't be surprised if.., a few bars later it BO for real - but since the less astute have been recently burned - they miss out Subsequent Big Bars (after the initial) Train picking up speed/ momentum (may or may not have increasing volume - but it doesn't need increasing volume to keep moving up - newtons law / body in motion) Big tails On top of an up bar = weakness (selling in control/ buying said - I'll pass) On bottom of a down bar = strength (buying in control / selling said - I'll pass) On top / bottom of adjacent bars = a fight / indecision (both trying to take control) RN
Are meant to throw traders off their game shake out the weak lull in the less patient / less astute Unless a signal is ubber obvious - stand aside and just observe - sooner or later price will reveal its intentions RN
Thanks for all that RN. Calling it a week after a couple more trades taken. I am not reading price clearly today. Monday was a -12. pt day and been trying to get back a little each day. - 6.75 today so - 7.50 for the week. This week I missed some good trades because I got into office late a couple days. Next week i'll try trading at home, then take a break around 8:30 pst to drive to office to finish up the day. Usually it starts slowing down around that time so the potential trades I miss should be more than offset by the better trades in the first hour. Soon I should be able to trade thurs & fri at home. One of the things I mentioned before was tracking my mistakes. I'm not doing that anymore. I don't want to focus on or reinforce the things I'm doing wrong. There's a common theme to my trading of exiting winners too soon and missing trades. Not necessary to keep logging that. In my review I try to reinforce the positive things. I'll study the big bars of the first hour today to better understand my beliefs and biases that prevent me from trading them as well as the actual PA that provides the clues. Really, this stuff ain't that difficult.
This is perfect - do it more... and as much as possible - at every opportunity Note; When learning / changing - there are two types of people (personalities) Move toward / and move away from The move toward - tend to move (gravitate) toward that which they're focusing on (attraction) eg; - run to safety The move away - tend to move (gravitate) away that which they're focusing on (avoidance) eg; - run away from danger ========================= Think maybe you are a move toward..., So you want to focus on that..., (the positive aspects)..., which you are predisposed to move toward.., and obviously seeking ========================== No it isn't..., but there are a gazillion moving parts - some small (infinitesimally so) .., some medium.., some big.., and ALL so flippin important -- which we need to take and assimilate into a working trader Fun.., fun RN
You know me.., not much about predicting Well here's one; Tomorrow @ open will be volatile.., with a side order of wide bars.... and it will keep serving this up.., for a few - to several bars COB tomorrow.., want to hear how you managed.., and took advantage - of this.... not the other way around - please Allow price to reveal its intentions (iow..., be patient and observe till you see a signal) Trade Well - no matter what the mkt/ price serves up RN
Thanks RN, Did not trade today. Another late night. The recent missed trading days are due to rehearsals and gig last night. Going forward I expect back to a regular schedule with the focus on trading.
Having a hard time reading these PB's. Seem like V reversals. Beginning to look at a Volume based chart to read the S/R areas and price rejection that the 1 minute isn't making clear to me. Only 1 trade so far. +2.75 The missed opportunities are where the money is. I still notice I have a bias of "too late to look for shorts, wait" . Obviously that's a type of predicting to eliminate.