Nobody can be told what The Matrix is. You'll have to see it yourself.
{quote} Hello mate I will give you some feedback if you like. You were right when you said it was a sneaky buy, because you were buying from the centre in Consolidation. It was a vulture trade - you saw an opportunity and got in. I don't really do those trades so much these days, but it can be a part of learning and gaining confidence. With the Daily turned over, and once I bought the market up the day before, I was looking for a short at the top. We had 1hr/2hr/4hr Upper BB Hits, and this is a scenario where I would use the 1hr for an entry, the...
The quieter you become, the more that you can hear.
- #11,166
- Sep 8, 2017 1:06pm Sep 8, 2017 1:06pm
{quote} Really appreciate posts like this. I sure don't see very many closes outside the bb. And the H2 close would have been a lot lower for entry. Would be great to have an alert go off with the market approaching the bb and have a different sound to identify it.
I have learnt to look and wait for these BB hits to trade in the direction of where the market is turning. In this case its down, so your alert is basically the news because most often you will get a spike outside the BB opposite to the direction the market is turning, so in this case your watching for a hit on top with the DB/SAR and your in and out quickly with +40.
I strongly suggest carefully studying what has happened this week, because this is how a market turns over, up or down, into a Consolidated Uptrend or Downtrend. Then go back and look at other times when the market does this.
If your feeling really studious, go back and look how the market turns back into the Daily Trend. There are some variations of course, but scroll back, write notes, and you will be amazed.
Hope that helps, and have a great weekend.
Shaun
Nobody can be told what The Matrix is. You'll have to see it yourself.
- #11,179
- Sep 11, 2017 2:30pm Sep 11, 2017 2:30pm
trade evaluation: took 40 from the market. A little more thought and a lot of patience paid off for this one. Last night writing my plan i was looking for short, something just not right (below ROMAR and all that)n so went to bed and patiently waited for what i think is a good entry from my waking up till execution. let me know if not. thanks Shaun i don't think i would have taken this last week. {image}
Notice how the SAR stayed deep into the pullback - the DB/SAR didn't appear until just after your entry. That happens a LOT when the market (2hr or 4hr) is turning over. If 2hr ROMAR wasn't there, there would have been another SAR connection near the bottom for an entry North. But ROMAR was there, and the market sat on it for a few hours waiting for us to buy. So your feeling about it "not been quite right" was spot on!
Here is the exact opposite of this scenario today on the GBP:
Notice how the SAR stayed on the bottom, then had a reconnection near the top, then when the new low came in the DB/SAR joined the party. In this case though, we don't have the EMA/MACD arrows in order on a Daily Uptrend - with Daily out of balance with Purple - so its likely going to make friends with Daily Purple again at 2hr/4hr Support.
The EURJPY though had the arrows in the correct order, with a HH and HL on the Daily swings. I'm not saying you should be trying to predict what will happen - write your plans with everything noted and your plan will do that, just that watching for certain things and noting them will make your life easier like this Trader.
It is a very hard thing to write your plan without bias - even if you have a good idea of what is going to happen.
Great trade!
Hope that helps.
Shaun
Nobody can be told what The Matrix is. You'll have to see it yourself.