Back to the Future – My Freewheeling Journal

Rome was not built in a day. Yes... one needs study and screen time.

Price always leaves signs on the ground:
1) you must learn to see them
2) you have to decide what to do... I'll take it or not? Stop? Stop and reverse? Rescue? (And here is where my scorpions arrive to stay in front of me!)

Nowadays I try not to fight anymore! I search the right way to follow, even on short charts! Of course this is the hardest way!
It is not for everyone... I perfectly know it. And, again, I'm not teaching. I don't want to teach.

#1459...I wrote " I'm ready to decide". Read it again...

Dax 15m 100sma has come over the top of the price, which is bearish. However, 10m 200ema is beneath the price in support, and we can see the price holding it atm. It can fall, but it can also kick up, so a difficult day to read today. Dow is falling, and can actually really fall off a cliff edge from here. It's broken the 800 support level, and has the 76.4% just beneath which can send it back up. So price on both Dax and Dow on a knife edge atm, and really could go either way, though for me Dax looks like it's topping...those H3 candles are certainly bearish, as are the H2 and H1 for that matter.

Dax will usually kick back to support or resistance, so if you have a pretty good idea where that is, that is the best place to enter a trade.We saw Dax kick up a little to the 15m 100sma about an hour ago. If you don't know where to enter, but you are sure of your S&R, enter as soon as the price closes below the 20sma, or , if it is a big candle, it'll usually give you another chance. Knowing your S&R is crucial in this business, because the price knows where it is, but if you don't, you are lost.

The markets usually put in an adverse/fake move before they turn the other way for a big move, and this is especially true of the Dax. You've gotta look out for these.

Price is actually a game of ping-pong between the big 200ema/sma moving averages, and if you can wolrk out which time frames it is using on any one hour, day, week or month, you've got it pretty well sussed. This is why for me multiple time frame trading is a must. I mentioned that the 15m 100sma was currently bearish, which it is, but you've got to identify the support. Look back at 1st May. The 15m 100sma was also above the price, but during the NY session, the price smashed clean through it. Why? Where was the support? Look at the 90m 200ema and you'll see. The bigger moving averages on the higher time frames will normally override the smaller ones on the smaller tfs. Does it mean that that higher tf S&R will always hold? No, it doesn't, but knowing when it is likely to and when it is not is also part of the fun. No one said it was easy, but really, trading is a puzzle, and it can be solved with patience, dedication, and lots of screen time, and I mean lots.

Yes... I see they are testing the force of the H1 trend on DAX.
First level of Support was broken.
Price is now sitting on the ema20 H1... and is reacting there, as natural and normal.

You and me, were meant to be,
Walking free, in harmony,
One fine day, we'll fly away,
Don't you know that Rome wasn't built in a day,
Hey hey hey.

Banking some!

GJ. H1.
Classic Dow approach.

Scaling out... wash, rinse and repeat! Nothing new. (m5)

You have to accept that you will only know that AFTER THE FACT...
"You are always wrong until market proves you right."
Only the correct practice will give you more selfconfidence in your decision.
At the beginning try to start from edivent levels... where you know that other traders will surely be with you!
Don't think about me.

@740 Be ready. Nimble. Don't chase.

I know you. How many times I have seen you doing things like that?
This is why never, never chase... in front of an S/R.

@760 full force @745 army out

@740 nimble again... ready! Scale out...

@737... come on. breath.

My positions in m5, now!

Now. Still running. In traling stop.

Quoting wbemsms

Disliked

Your turn lol

Ignored

Done.
Wbemsms... where are you?

@703 banking... Ah! What a day! Ready for the next attack. Bye.

m5