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Plan the Trade

  • #3,741
  • Dec 8, 2017 9:05am Dec 8, 2017 9:05am
sideways
Become the casino
  • #3,742
  • Dec 8, 2017 9:08am Dec 8, 2017 9:08am
Only order I had in so far was a sell at 98 naked poc it hit it but no fill
  • #3,743
  • Dec 8, 2017 9:18am Dec 8, 2017 9:18am
I have a weekly POC from 2 weeks ago at 6383.00. Wonder if it will finally break south. It may be the support.
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #3,744
  • Dec 8, 2017 9:26am Dec 8, 2017 9:26am
well nothing today for me only had 2 days this week of trading and 2 days like today of nothing still managed 140 ticks with week and at 2 contracts a nice week nonetheless
  • #3,745
  • Dec 8, 2017 9:28am Dec 8, 2017 9:28am
I thought today might be one of those days where the market just takes off in one direction. Not the case. Huge gap up go sideways rest of the day. 1 trade
Have a great weekend everyone.
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  • #3,746
  • Dec 8, 2017 9:34am Dec 8, 2017 9:34am
what do you think...

i shorting with relatively tihgt stop cause the the weekly candle looks fucked up as hell..i mean long cross doji?

need to close bearish..i don't think it will be anything huge..but got to fill some pockets down...

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  • #3,747
  • Dec 8, 2017 9:40am Dec 8, 2017 9:40am
why would you short a sideways market wheres the indication its going down try looking at tick charts they show the picture clearer
  • #3,748
  • Dec 8, 2017 9:49am Dec 8, 2017 9:49am
out..

was basing it off the weekly.

Quoting hilmy83
out.. was basing it off the weekly.
not quite..didn't trigger my s/l..

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  • #3,749
  • Dec 8, 2017 9:53am Dec 8, 2017 9:53am
Quoting hilmy83
out.. was basing it off the weekly.
day trading off of weekly chart strange approach hope it works for you
  • #3,750
  • Dec 8, 2017 9:54am Dec 8, 2017 9:54am
Quoting Divergence
why would you short a sideways market wheres the indication its going down try looking at tick charts they show the picture clearer
it's not based on anything..it's a small gambling trade just looking at the current week candle. i just cannot see a bulish close with a huge low wick..it has to clsoe somewhat bearish..
  • #3,751
  • Dec 8, 2017 10:01am Dec 8, 2017 10:01am
i haven't traded nq long..but this is just lethargic.

you guys trading this next week?
  • #3,752
  • Dec 8, 2017 10:12am Dec 8, 2017 10:12am
there was only 2 decent days this week been trading the nq for about 4 years best trending market out there I only trade first hour 4 days a week no Wednesday that's how I do business with the market
  • #3,753
  • Dec 8, 2017 10:30am Dec 8, 2017 10:30am
Quoting hilmy83
out.. was basing it off the weekly. {quote} not quite..didn't trigger my s/l.. {image}
so close to actually exit. but hte minute candle didn't close about that 6372..so i kept it open

now we're in business..

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  • #3,754
  • Dec 8, 2017 10:58am Dec 8, 2017 10:58am
Quoting hilmy83
what do you think... i shorting with relatively tihgt stop cause the the weekly candle looks fucked up as hell..i mean long cross doji? need to close bearish..i don't think it will be anything huge..but got to fill some pockets down... {image}

Good call, i saw the post too late and so can't claim any brownie points here, but EW suggests the chop was a B or and X wave, thus lower to follow after clear 5w Long completed. Wave A takes out prior HL.

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  • #3,755
  • Dec 8, 2017 11:09am Dec 8, 2017 11:09am
Quoting The Cableguy
{quote} Good call, i saw the post too late and so can't claim any brownie points here, but EW suggests the chop was a B or and X wave, thus lower to follow after clear 5w Long completed. Wave A takes out prior HL. {image}
about where i exited..i just based it off volume profile node around 6352
  • #3,756
  • Dec 8, 2017 11:28am Dec 8, 2017 11:28am
Quoting hilmy83
{quote} about where i exited..i just based it off volume profile node around 6352
one last trade to close out the week....

still debating whether i need to focus on ES or NQ..

5-7 ticks on ES can be a full time income for me
NQ is trendy..but also seems violent...

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  • #3,757
  • Dec 8, 2017 11:35am Dec 8, 2017 11:35am
Who doesn't like violent
  • #3,758
  • Dec 8, 2017 8:33pm Dec 8, 2017 8:33pm
Quoting hilmy83
{quote} one last trade to close out the week.... still debating whether i need to focus on ES or NQ.. 5-7 ticks on ES can be a full time income for me NQ is trendy..but also seems violent... {image}
You are crazy not to stick with the ES bro!
  • #3,759
  • Dec 11, 2017 5:58am Dec 11, 2017 5:58am
Beautiful 61.8% retrace suggesting (long move) is corrective. I do not need to label each individual wave. The idea will be another ABC set to new lows after the strong reaction clean off of the fib level;

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Using EW, fib's and S/D...
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  • #3,760
  • Dec 11, 2017 7:30am Dec 11, 2017 7:30am
I personally think it's got lower to go yet... 13,104 is the 100% fib of the first set, so it would be normal to expect at least that, but i'm done for the day. Well, at least for a break;

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I was reading overall PA this way, (using EW and fib's combined), a year ago, but the difference from a year ago is combining the pullback levels to SD levels, concentrating on 123, trigger and pullback to pinbars....

The next stage for me, is working out when to trust my EW intuition, leave risk on the table (or stop to BE) and look for a fresh high/low (whatever the main trend is doing) or when to simply chase a profit down tightly, above each prior candle and then look to get back in on a retrace once stopped as PA reverses.

There is no one answer of course, but time will tell which method is most profitable. A bit like now. I am out of the above trade at the fresh low, despite my thoughts of lower to come. You have to lock in profits sometime! It's already retraced 15 points since the screenshot.
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