Thanks again -- and the start time and end time for it is the period shown on the graph? so for the first one it is 2 years and the latter two it is 90 days, correct?
if we drop lower the bottom of the nip is 4117 appx and if it fills that cleavage its marked on the chart...use short and long term chars,do a little detective work and draw a conclusion,always nice to know if it's going up or down,to where? then enter a trade ... ultimately ,it's going to that widest nip at 3957
that ledge at 4270 on the upside should be enough buyers stuck that would be happy to break even and stop a retrace, bring in new sellers,take these extremes as your entry and exits ,boring but profitable
Not that it is so obvious and easy...try to adjust your size given the volatility in the markets.... trend reversal areas are usually filled with hightened volatility.
Thank you for your helpful comments/graphs/and feedback -- I managed to come back with one good trade on the long side and ended the day with 14,550 Will be spending the night re-examining what went wrong and how i ended up getting stubborn and how my position sizing should've been reduced once volatility is confirmed to be outsized.
you have to be able to read the market and you have to have conviction to trade,it's very hard to read yourself,sometimes when wrong, you just throw in the towel and wait for another day, keep the losing days small,nice recovery ..hang in there..when getting close to your daily limit ,up or down,lower size to protect acct from damage or on a great day ,from giving it back