The S/R lines drawn whole way through i drew prior to any trading (without looking at any more price history). Hint: the first KR marked with the first green arrow, buying evident off the support( i'm sure intraday pattern would be there as well with better R/R to buy) The intermediate line was drawn after PA showed me it was S/R. All very basic stuff i think, feel free to pull apart (anyone) as i am here to learn. Added:forgot to mention, selling was overextented something i always pay attention to.
The market - in every way, shape, and form.... Whether we pass or fail is always reflected in our PnL (the ultimate trading indicator) Reality can sometimes be a bitch RN
Good Lord Man this would blow my mind Please step back to the SINGLE chart of HAL, and dissect it Please keep it simple - I am a dumb ass redneck after all When trading all I can, or care to, think about - is VERY few things, not 9 dozen (do not take this last sentence as meaning I don't know the bigger picture - I do... But I must first.., foremost..., and only..., be concerned about what price is doing right now) I don't even care why..., or ever think about it... RN
B193 The devil is in the details - we must add a significant amount more devil to our chart for it to be profitable (and I don't mean additional TF's although I am a big proponent of them) Just devil to this chart to make it useful Also with all due respect to counter trend traders (which I was too at one point but don't any more) overextended / over bought/ over sold - are over rated, and over used terms in my book Always trade what is, not what might be - unless you can succinctly quantify it.. and know when you are wrong RN
Yes you are right, knowing when you are wrong on these situations is hard as fakes happen on levels like that often, i have experienced first hand what happens when i have tried to find the bottom on a trade just like that before, sitting there looking at it on hindsight thinking what a fool i'd been for not shorting LL Breakouts.
Because we don't know which way it will break out and so will be wasting time until price moves up or down. So we buy when price moves up and sell when price moves down. Is this correct thinking?
Sell the high since the price has stopped moving, and in all probability might begin to come down. But you never know.