Quote, regarding yesterday´s low what is more important in this case the RTH low or the 24 h low, I use the second one, but I have never been sure I was doing the right thing.
Neither. You knew at the outset that yesterday ended in a hinge and that we were ranging just below the apex of it this morning. Therefore, your only concern is what traders do when they exit that hinge. Once price begins to move, then you can worry about S&R from the past. In the moment, though, that's not particularly relevant.
I am very confused here. I see a fair share of hinges, but I do not seem to understand which one are you referring to. I see that we are on the apex of the hinge that has been forming during the week, visible in the hourly. But there was also a hinge that formed yesterday alone, and the apex of that hinge was 225.
Actually there have been tons of hinges lately. I've never seen so many in such a brief period of time. But I was referring to the one you show on your 5m chart. That's the only one that matters with regard to today's open. The rest might become important depending on what price does after it begins (began) to move.
1. Well, the daily trend change did not come at the open as PDL provided S. Just after the open the thinking was RET as a the downtrend had reaffirmed itself and a new SL was available, but that did not work out as buyers came out to defend S and the trade was stopped out. 2. I had a LH + HL therefore the hinge alert turned on, now the thing to do for me was to wait for a BO and then a RET of this hinge, the BO came but then the top of the hinge provided R (it was also the level 13 that I have been observing during the last few days). This one was stopped out as well. Now I had a DT and S at 06, so I traced a TR between 06 and 13 and did nothing but to wait for a BO. 2.1 At this moment we had a break of SL and a HL around S, but I thought was still in the chop so I passed the trade. 3. After the BO waited for the first RET and closed it after a DT and a DL break.
Yep. And by the way the 9 year old charts are pretty humiliating , I am thinking about leaving my trading decisions to my daughter as she has so little to unlearn. . Have a nice weekend!
To be honest, if I hadn't said I'd provide these trades for a week, I'd've quit after that first loss. But that would be cheating, so I stuck it out a little longer and made that one last long (I think everybody did). At least it turned out to be a winner. But I was "hoping" for a bit more rewarding finish to the week.