PA "Setups"

Is this a long or a short here?
If neither, where should the orders be placed?

 

Excellent questions, along with where should the stops be, if any, and if any, what kind, and what targets should be used for scaling in and out.

 

I realize that the only people who are going to see these are insomniacs, dairy farmers, and Europeans, but we don't want to be accused of hindsight, now do we?



The primary way I've learned to trade is to study market behavior and build an understanding of it. If you're not distracting yourself from that goal, over time the mind will start to build an rough, intuitive grasp of basic market characteristics. At the same time, we can work consciously to find parameters to define what we think we know and test them to see if they are consistent with the reality.

After enough time, one can build a model of certain market behavior, and then create a system or routine by which to partner with the market and be on the right side of it.

I have a conception of what I understand a trend to be. I have a conception of what they do when they are ending, and at those points in time I can trade in the direction of the sentiment of the next trend. I compare what I see unfolding before me to what I anticipate things will do if my hypothesis is correct. If there is inconsistency between the two, I will exit. If there is consistency, I continue to hold the trade as the market goes through the sequences I expect.

--llIHeroic

 

Those charts show a shortening of thrusts, so if I were to go long, it'd be for a quick scalp.

 

shorting the top of that range turned out to be the best trade.
How about another.
Is this short going to go under 11800 before hitting my stop at 11845?

 

He's delicate that way Romik

But not to worry Sir - you're in good company

RN

 

Here's my orders.
Previous support should become resistance>?....

 

Maybe.

There is also a daily context that is of benefit to PATs. See Gringo's charts.

 

Tremendous posting.