Will short 3225 if I don't get 123 setup for long
- #3,863
- Edited 5:12am Dec 19, 2017 4:59am | Edited 5:12am
- Joined Apr 2011 | Status: NQ eta moi lybov... | 3,030 Posts
I usually watch two scales. Slow and fast ticks as i like to keep an eye on the bigger picture in the background.
Eventually i hope to be able to trade the bigger moves using EW and Fib's - something that i have had varying degrees of success with over the years. I think i was always looking for the perfect entry and was generally too scared to take a trade early.
The problem with that approach is that, by the time it is confirmed, PA will be in a 3rd wave (usually most powerful), which will likely be an instie day and i struggle without the aid of pullbacks to get in on them.
Therefore the best trades will likely be, when you are doubting if it is right... to sit out the chop and wait for it to really start moving.
With that said, i do not know how i missed this Fib level last week on the Dax;
You'd have easily been forgiven for thinking that the reaction in blue circle, was good enough. That created the Extreme for the next day, which was broken by a couple of pips and that's all.
Someday i hope to put all the pieces together, because, we even highlighted the (Long) trades away from that extreme. If i had seen the 61.8% retracement level, i would have been likely calling for new highs, with the end of the prior move being clearly 'corrective'.
It's this kind of thing that makes it difficult for me to turn my back on EW, but i always needed a better way of getting into a trade with low risk and trading pullbacks has been the answer.
Insomnia really has been a huge problem for me recently, so with the holiday season rapidly approaching, i doubt i will get much more trading under my belt this year, but let's hope next year is good one!)
Eventually i hope to be able to trade the bigger moves using EW and Fib's - something that i have had varying degrees of success with over the years. I think i was always looking for the perfect entry and was generally too scared to take a trade early.
The problem with that approach is that, by the time it is confirmed, PA will be in a 3rd wave (usually most powerful), which will likely be an instie day and i struggle without the aid of pullbacks to get in on them.
Therefore the best trades will likely be, when you are doubting if it is right... to sit out the chop and wait for it to really start moving.
With that said, i do not know how i missed this Fib level last week on the Dax;
You'd have easily been forgiven for thinking that the reaction in blue circle, was good enough. That created the Extreme for the next day, which was broken by a couple of pips and that's all.
Someday i hope to put all the pieces together, because, we even highlighted the (Long) trades away from that extreme. If i had seen the 61.8% retracement level, i would have been likely calling for new highs, with the end of the prior move being clearly 'corrective'.
It's this kind of thing that makes it difficult for me to turn my back on EW, but i always needed a better way of getting into a trade with low risk and trading pullbacks has been the answer.
Insomnia really has been a huge problem for me recently, so with the holiday season rapidly approaching, i doubt i will get much more trading under my belt this year, but let's hope next year is good one!)
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
- #3,867
- Dec 19, 2017 8:39am Dec 19, 2017 8:39am
- | Joined Jul 2010 | Status: Trader | 1,319 Posts
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
- #3,868
- Dec 19, 2017 8:43am Dec 19, 2017 8:43am
- | Joined Nov 2012 | Status: Trader | 3,121 Posts
so far:
Become the casino
- #3,869
- Dec 19, 2017 8:50am Dec 19, 2017 8:50am
- | Joined Jul 2010 | Status: Trader | 1,319 Posts
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
- #3,870
- Dec 19, 2017 9:16am Dec 19, 2017 9:16am
- | Joined Nov 2012 | Status: Trader | 3,121 Posts
Become the casino
- #3,872
- Dec 19, 2017 9:19am Dec 19, 2017 9:19am
- | Joined Nov 2012 | Status: Trader | 3,121 Posts
Become the casino
- #3,873
- Dec 19, 2017 9:21am Dec 19, 2017 9:21am
- | Joined Nov 2012 | Status: Trader | 3,121 Posts
Become the casino
- #3,880
- Dec 20, 2017 9:25am Dec 20, 2017 9:25am
- | Joined Nov 2012 | Status: Trader | 3,121 Posts
top work H .. finally got one for +20:
Become the casino