buyers might come back at 3215 started off as resistance after the fed meeting might become support now
DB today has been very confusing to me guess I'm not sure what my next step in the learning process is but maybe it would help if you could post some thoughts on todays action so I could get a feel for what you are thinking. My take on today was a range day until the fed announcement then a series of higher highs and higher lows with only a few retracements with demand line never broken until about now and there seems to be some resistance around 3226 but it might be there aren't any buyers left at these levels but there weren't any waves until after the announcement so how would today have been properly traded? Like I said earlier the morning session was kind of a stair step down
Your primary concern continues to be "how would today have been properly traded" rather than observing and analyzing the why of price movement. You say something along the lines of "price found resistance at such and such" and leave it at that. But so what? Why did price find resistance there? What does it mean? What does it matter? If you can't move into at least that level of wondering why then you will stay on your treadmill and sim trade until you get sick of it. Seems like an awful waste of time to me. I've made a number of suggestions, most of which you haven't acted on, such as relying on replay, and there's no point in my making them again. They're all here. I suggest that you review them, if you're interested.
The truth of the matter is I work 60hrs. per week to make a living and I have three daughters and my wife to spend time with so I can't take 3 hours every day there isn't enough time for me to observe all the time. You questioned me about moving averages today and the funny thing is I read that from your ebook so I guess in games journal you keep saying the why doesn't matter but for me it's not about the what but just the why. I understand about support and resistance and I am starting to understand wyckoffs waves and such but I don't get when I post hit support here or hit resistance here why that's wrong. I get that where the most trades take place is where s/r will be and the extremes of these ranges is where the least amount of trading takes place so therefore the least s/r. I'm starting understand why the midpoint of the range is so important so I feel I'm further ahead then when I started this journal and I feel like I'm making progress.
If you have no time for replay and you work 60hrs a week and you have a family to support and you've been at this for more than two years, I suggest you abandon the idea of daytrading altogether. You will never be in a position to put the money that your family needs at risk, so why not focus on something that's at least possible, i.e., EOD trading off daily charts? You'll still have to understand why price does what it does, but at least you'll have more time to figure it out.
I will have funds to trade soon enough and in my opinion day trading is less risky than holding overnight, there are many ways to day trade and I really want to understand the whys of what price does so I can use that in my method, yes I do have a method but it was generating too many trades so I wanted to use this theory along with my method so I can concentrate on the better setups, Mark Douglas says you need an edge and you need to trade every valid set up your edge gives you so that's the reason I was asking for your help.
Sorry. If you told me you had a family, it went past me. I can't help you with this. But there's nothing stopping you from reading and studying the material I've suggested.
Why wouldn't you be able to help me because I can't spend 6 hours a day looking at a chart, I have about 2 hours available to study every day and I intend to get this figured out. My method is based on pa only and I'm not sure why you can't help me but thanks for the help that you've provided so far and you will hear from me again but just remember there are many ways to profit from the market and I'm confused why you won't help me.
For Thursday I will look at todays low of 3182, the mid point of todays range 3206 and the high of today 3229 for areas to make trading decisions.
You say things like"looks like" or "might be" indicating that you are still in the prediction mind set, you can only follow market not predict.