Thanks... this is standard TA at work... but if it works out it will be because of luck... If it stops out and breaks down you know what they'll say right...!??? It's going to be like... "See we told you it was going to be a breakdown... You should have sold based on the bear flag off of the 4hr chart...!"... However, if it works out they'll be like.... "See... we told you TA works... AND you didn't believe us... HA! HA! HA!..."...
I just realized people might not know what I mean by "cup and handle" pattern... It looks like a cup with a handle and is generally considered to be bullish by the TA community...
Yeah, I'd say just what I said on the last page, REVERSE at inflection points. Of course, this assumes you have a method that trades around these moments. If you are long and get stopped out and then it breaks down (per your example), wouldn't you want to be short?? PS Only a NOOB trades classic TA patterns blindly without doing any other analysis....is this YOU?
Buddy... You're telling me two things at the same time... I want to be long because of "cup and handle" but short because of breakdown... AND... to trade around the inflection point... Which defined means a change in concavity...! That is... a change from concave up, to concave down... based on the second derivative test of a function...! So... care to make sense of it with an actual trade position...? Let's see how you put it all together...!
Technically speaking our inflection point is more or less where our yellow lines intersect... It would indicate a downward concavity, indicating bearishness...
Believe me..........I highly doubt I would've seen the setups at they time they were actually happening; I am definitely talking in hindsight. I believe NoDoji's trading results, but I sure as heck can't do what she can do right now. That's why I was curious if she made 100 ticks or more during that time. I'd be happy to be up 20 ticks. I'd be happy to be up 20 ticks for the entire day.
Ugh, I just wrote a whole long detailed post and then I lost power for a few mins. I live in Manhattan, NYC. I don't have the energy to write a whole long post again but will say that you can't JUST rely on "classic" TA patterns as your core trading method. You need to learn more about HOW the classic pattern was created (think PRICE ACTION). If you learn how to read PA, then you'll be in a much better position to either catch a classic TA pattern as it breaks OR, if PA is not strong for that direction, wait for it to fail and place a trade in the opposite direction. Trading rewards those who are clever and quick, do you want to be one of those people??
You're still in Manhattan...? I thought Manhattan was evacuated...? Hey... Stay safe...! I know what you're saying... Catching price action is more about relying on your reflexes and interpretation of what is going on... ...that makes it more of a game or an art form... I suppose you could develop a personal gaming edge the way a skilled boxer does...! But that means that most people will fail at trading. They're just not cut out to be "in the ring" so to speak...