+1 at the breakout of the last channel ... 7025
Never give up !!!
- #7,106
- Aug 13, 2018 10:02am Aug 13, 2018 10:02am
- Joined Jun 2006 | Status: Trader | 5,709 Posts
long..deja vu with these high tests
- #7,107
- Aug 13, 2018 10:07am Aug 13, 2018 10:07am
- Joined Apr 2011 | Status: NQ eta moi lybov... | 3,030 Posts
Had a patient approach. Downtrend underway, originally placed my limit order (redline) Short, two ticks lower, as that looked like lower side of prior Supply.
But then i noticed that a parallel line run off of the bottom touches, also lined up with the top two to make a possible trendline, so i was greedier and moved my limit up, hoping it would just touch the top channel line.... missed fill by a tick - doh!)
But then i noticed that a parallel line run off of the bottom touches, also lined up with the top two to make a possible trendline, so i was greedier and moved my limit up, hoping it would just touch the top channel line.... missed fill by a tick - doh!)
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
- #7,109
- Edited 11:54am Aug 13, 2018 11:29am | Edited 11:54am
- Joined Apr 2011 | Status: NQ eta moi lybov... | 3,030 Posts
So...
Over the weekend, i went through my reboot.
I have two favoured methods here. Generally my favoured PA is within the red circle (chart below). It is when we have lovely deep retraces, which make the prior S/D levels quite obvious and thus the decision making process pretty straight forward.
But i've noticed that i struggle with my discipline when that type of action is absent and that happens a lot - you know what i mean?! when the price just runs and runs and doesn't retrace to any obvious levels... here i really like to use channel lines (you only trade in direction of underlying trend)... you can then use tight stops as if a channel line is legit, it will be fairly obvious when it is no longer valid;
So between the two variations, i reckon it will satisfy the desire to trade and also make the decision to place a trade that bit easier.
The point being, Demo trading tends to lead to over-trading and thus, i reckon this will give me enough to look for, making the switch to Live much easier.
The last trade highlighted is 123 back into downtrend, triggered and pullback retraces both to start of move and also channel line touch. Nice.
Over the weekend, i went through my reboot.
I have two favoured methods here. Generally my favoured PA is within the red circle (chart below). It is when we have lovely deep retraces, which make the prior S/D levels quite obvious and thus the decision making process pretty straight forward.
But i've noticed that i struggle with my discipline when that type of action is absent and that happens a lot - you know what i mean?! when the price just runs and runs and doesn't retrace to any obvious levels... here i really like to use channel lines (you only trade in direction of underlying trend)... you can then use tight stops as if a channel line is legit, it will be fairly obvious when it is no longer valid;
So between the two variations, i reckon it will satisfy the desire to trade and also make the decision to place a trade that bit easier.
The point being, Demo trading tends to lead to over-trading and thus, i reckon this will give me enough to look for, making the switch to Live much easier.
The last trade highlighted is 123 back into downtrend, triggered and pullback retraces both to start of move and also channel line touch. Nice.
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
- #7,115
- Edited 2:54pm Aug 13, 2018 12:00pm | Edited 2:54pm
- Joined Jun 2006 | Status: Trader | 5,709 Posts
