Learning Curve...

I was making too many trades with the faster bars.

As was mentioned above the patterns show up in all time frames.

Today in my day trading account I only took 6 trades.

 

On the chart I posted for the trades on the 26th, the first H&S wasn't on the chart.

Here it is.

Notice both times once price penetrated the resistance in the neckline, and the trendline, it went straight down.

Neither time gave me the 'popup' or 'popdown' I was hoping for to enter the trade.

Maybe as Veggan suggested this is a characteristic of the NQ?

 

I haven't traded on a minute chart in a while.

I like the idea of slowing things down, I think the NQ has done that for me quit a bit. The 1000CVB NQ chart seems to move like molasses. And this is me comparing it to a 1000 or 2500 CVB chart on ES.

I think it's so slow that I'm having to remind myself that I don't have to be in a trade all day.

I'm seeing most of the trades WHILE they are occurring, but i think screen time will make sure I take them all?

 

Only trade I am taking today as I've gotta head out of town.

Win or loose, seems like a good trade.

---EDIT----

It took a long time for this post to post.

Stop I moved above resistance @ 1126.00. Stop is 1126.50. Trade has moved against me a bit.

Target was 1116.75 were prior resistance was.

 

Couldn't help it, took inverted H&S that occured after I was stopped.

 

Here is the Head and Shoulders I entered. Good setup. Exited right in front of double top.

 

Sorry, posted the wrong DOM screen capture in that picture on the H&S, that's still the same capture from my stop out on the DT

On another note, as suggested by Veggan yesterday, I think playing the entries on the NQ a bit more aggressively might be a better solution than waiting for a 'popup' or a 'popdown'.

Any thoughts on that?

 

Little action from earlier.

Was watching NQ, looking at it, I'm paying a lot of attention to H&S patterns.

See something that looks interesting.

Just out of curiosity, switch over to ES on, and there it is!!! Could have been a beautiful trade.

 

I agree with you there, my favourite pattern as well. Very reliable and great R:R

 

It sure seems that way. I didn't really pay attention to them for a while.

Only looked for Double TOPS/Bottoms and triangles.

But H&S is interesting for sure!!!

If you see any that I don't post it up, if not just post the time and timeframe, and I'll snag it up!

Forrest