Nothing Beats Price Action, Everything Else is Derivative

I most certainly do. Can you say TV girlfirends?

NN

 

Hi Joab thanks for posting your trade. I was long in that stock several weeks ago but dropped it. Too soon I guess.

Can you explain more about your screen and what your entry point is? I don't see anything magic about 71.89. I see the double bottom, was that your clue?

Thanks for sharing.

 

don't fight the fed is another good mrkt indicator

 

Floor trader pivots are magnets, not necessarily final destinations.

 

so, would you say that the trend is up now (I am looking at spy=140.00 @11:25)?

 

looks like I jinxed it spy 139.4 @11:55

sorry

 

trying to get into "go with the trend mentality". if spy breaks 140.16 (the high of the day) that should confirm the uptrend and if it goes below 139.0 (the low of the day) that should confirm the downtrend, right?

 

loz

 

This is the crux of trading according to "price action" ... you and only you define what the trend is for the instrument(s) that you are trading according to your frame-of-reference.

How do you know your definition is accurate and correct?

Like El Cubano said "your PnL".

 

buy @stop order for DIA @126.7 (high for the day 126.65).