Friday 500 tick chart trade 1 short on a lower high at 3563.75 stop breach of dmtl aprox. 3565 target 3551 last swing low. Comment Entry â Good Stop â Good Target â Good Trade 2. short on a failure at the last swing high 3563 stop 3567.25 or breach of dmtl target last swing low of 3549. Comment Entry â See âalso DTâ on chart - Good Stop â Breach of the DT â as the DNTL was not really established Target â Good Trade 3. the nq broke out of congestion and tested the mid point and made a higher low long at 3553.75 stop of 35551 target last swing high of 66. Comment Good job identifying the congestion â I say congestion because the PA is dirty Entry â Good Stop â Good Target â Good â but see how price started ranging when it neared the last SH â it does that â exit â no need giving back money (unrealized profit) Last trade higher low at 33569 stop at 3566.25 target breach of up move trend line. Comment I think the entry price is screwed up (3356.9) This is a classic example where former R becomes S (light blue line) Entry â Good Stop â Good Target â Good =================== All in all..., the context you drew looks good â it is accurate â it reflects what price is saying And we are PA traders - with the focus / emphasis on P RN
Yo A trade management to incorporate into the tool kit; If price between the entry and target â and begins to range This range; Could be a PB - which BO and continues Could be price no longer wanting to continue Could be price changing its mind..., hence direction Trade management; If price BO toward the target â stand pat If price remains in the range â for what you consider an extended period of time â exit (trades neither working - nor not working - are a wast of our time) If price BO back toward the entry â (against the position) â exit And should the range develop close / near the target - exit..... (and don't give it a second thought - always another trade looming on the horizon) Just a little sumthin â sumthin to add to the ole arsenal Sir RN
todays trades. 1. higher low long at 3574.350 stop breach of up move trend line target 3586 pre market swing high. 2. higher low long at 3588.25 stop 3585.25 1 tick below signal bar and target last swing high of 3597. 3.long above support at 3602 stop 3599.75 target breach of up move trend line. 4.last trade a long above support at 3609.75 stop 3607.50 target breach of up move trend line.
Trade 1. higher low long at 3574.350 stop breach of up move trend line target 3586 pre market swing high. Comment The circle is on the wrong bar (too low) Making a breach of the UMTL - the stop⦠before the UMTL is established â canât happen And if youâre by chance referencing an UMTL that isnât drawn â then that canât happen either - it isn't drawn The trade is there.., but the context (defining entry & stop) is not clear and concise Attention to detail - always Entry â Stop â Target â Trade 2. higher low long at 3588.25 stop 3585.25 1 tick below signal bar target last swing high of 3597. Comment Much clearer context Entry â Good Stop â Good Target â Good Trade 3. long above support at 3602 stop 3599.75 target breach of up move trend line. Comment Entry â Good Stop â Or a breach of the UMTL Target â Sweet (ride it as long as it permits ) Trade 4. long above support at 3609.75 stop 3607.50 target breach of up move trend line. Comment Entry â Good Stop â Good Target â Good Overall Trade 1 context / stop is suspect TLs look good Horizontal context is on the light side â there's a lot more PA on this chart to build some solid horizontal context on I adjusted you S to R line just a bit - see if it makes more sense RN
Todays 500 tick trades. 1. higher low long at 3607.75 stop 3603.75 target BREACH OF UMTL. 2. long on support at 3618 stop 3616 target 3625 last swing high. 3.short on a failure at resistance 3625.50 stop 3627.75 target 3616 last swing low. 4. higher low long and also a 1st pullback after a bounce from support at 3616 stop at 3613.25 target 3623 last swing high. An extra shout out of thanks to Redneck for steering me in the right direction and ammo for helping me with support and resistance
That whole chart... and the trades - are a thing of beauty Be useless for me to post any analysis Good Job RN