Daily We finally exited the hinge and we are on our way down. As we are back inside the 102-109 TR we could expect some turbulence around the MP at 105, but if we take int then 102 wouldn't be a crazy target. Hourly The downtrend still holds, Yesterday was actually a great RET opp for longer term players. (LOLR: Down) 5 min After finding S at 5.60, buyers gave up just below the MP of the last downswing below 6.50, where sellers started to push once again. At the open the SL still holds in what looks like a RET in the 5 min.... (LOLR: Down)
Sorry, did not see the post. I have been trying to avoid thinking in patterns and lines in order to be able to trade PA alone, it has not been easy, the days when I am in tune with the market I get great results, the days I am not I get hammered, I guess as we discussed it yest, the trick is to avoid trading when I cant read what the market is doing, that would be when I lose 3 times in a row, as I have experienced it when that happens ussually I am not as sharp spoting the good trades after the third loss, in hindsight I understand later that it had nothing to do with the market, but it was me that somehow managed to sabotage my day. Anyway, today is inventories day so I will stay away from oil. Take care
Sorry. I tried to do it like how it's done in Games journal, as I thought that would be familiar to you. Anyway, the red(coral) dot is a short. Green dot is a long. Blue dots are the exits. (so, in trade order, it went 1.loser 2.loser 3.winner 4.winner) I'll upload todays chart too in a bit
Today so far. Better. Didn't bother with the dots to mark entries, although I generally find the ninjatrader 'markers' a little messy, and so usually delete them and make my own with the dots!
Daily After a fakeout to the downside, prices buyers pushed prices higher and broke the SL of the hinge. If they can hold their interest, the next target should be 109. Hourly The upswing that finally broke the hinge, faded at R at 8,15, so far LSL holds so the trend still has some life, but the DL is taken so this could also mean a congestion below 8.15. 5 min After finding R at 8.15 sellers found S at 7.40, at the time of the post LSH has been taken so the downtrend is over, but the fact that buyers gave up at 73 (50% RET level) turns the attention to the will of sellers, perhaps they will retake control and push for a break of 40. Or if they lost it buyers would probably attempt a push towards 108.