Discussion in 'Technical Analysis' started by Ditch, Dec 4, 2002.

  1. Ditch


    we just had a nice v-reversal on the NQ (see chart) I didn't catch that as I will always look for lower lows/highs before I take a trade in the opposite direction. What are the thoughts of other people on this?
  2. Looks like based on your continuous TICK chart...

    why didn't you bite on the Higher Low that was put in soon after 16:27?

    It would have allowed you to capture a few points out of that V-Thrust like bounce...especially with support from the ES.

    The increased volatility along with confirmation via Higher Lows in what looks like a MACD Histogram indicator your using may have warrant a Long entry (reduced sized because of the risk)...

    with some room or profit-target to that next resistance line you have drawn on the chart.

  3. Ditch


    I did take that long entry, i'm talking about the reversal ( to short)at 10:34.
  4. Hey Ditch...what's the V-reversal? What time did you see it?
  5. LoL...you must have posted 1 second before I did.:D
  6. dbphoenix


    Depends on what you want. If you think you're buying a reversal in an uptrend and you don't wait for a lower high, you may be shorting a retracement in a continuing uptrend. But if you're just scalping, this may not matter to you.

  7. I still don't see it. You talking about where that vertical line is running up and down the chart?

    Okay...never mind, the line's the opening...lol

    I still don't see the V though.
  8. Ditch


    hope you see it now
  9. Ditch


    trend was up and reversed to down without making a lower high, any case in timeframe i'm watching
  10. Well, you had the 38% resistance working for you, but I try not
    to buck the trend, and that baby was going up pretty good.

    Worked this time...
    #10     Dec 4, 2002