--05/19/2015 After hours PM. Reversed long at 4500.75. Initial stop and reverse is on a close below 4420.00 --06/01/2015 Afterhours AM Price is 4522.00 Staying long with same stop for now. It will be just a stop, not a stop and reverse.
I sometimes have to do a double take when I see things like bear flags and consolidation described as "TC" and "hinge". Someone trading this 1 minute chart in the morning would need only look at the 15 and the 5 for direction. As you can see, throughout the entirety of this chart price never traded outside the noise on the high side and so a buy stop would have never been hit. As can be further seen, price never got into an uptrend as the writer trys to maintain. In addition, the "PDL" and the "ONL" play no role whatsoever and in fact, by having those lines on the chart, the trader is biased to wait for them to be approached skipping any other dynamice price action. Lastly, no mention is made of stop placement or risk/trade management and those are the real edges to any system and SLA educators and students place very little emphasis on these items.
It looks like the Scriblers have finally been outed and left the site for good--- so you can end this thread. thank you, surf
Will be away from the computer for a while. I'll leave the stop where it is and see where we are later.
Day trade-Long NQ @ 4499.00 Initial stop is 4485.50 --Price is 4523.00 Stop raised to 4511.00 --Price is 4532.25 Stop raised to 4524.00
Day trade-Long NQ @ 4499.00 Initial stop is 4485.50 --Price is 4523.00 Stop raised to 4511.00 --Price is 4532.25 Stop raised to 4524.00 --Stopped out for gain of 25 pts