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  • #4,321
  • Feb 26, 2021 11:37am Feb 26, 2021 11:37am
Quoting LauraT
Today was a good day to be a bear. Over 1700 points banked across various instruments. Selection below. {image}{image}
On DOW I suppose what kept you in the trades after price/channel went above sma200 was fast RSI still being < 50, right?

Oh and I just noticed, I'm a bit confused as to why enter short when price is above sma200?
  • #4,322
  • Feb 26, 2021 12:13pm Feb 26, 2021 12:13pm
Quoting 2muchbutter
{quote} On DOW I suppose what kept you in the trades after price/channel went above sma200 was fast RSI still being < 50, right? Oh and I just noticed, I'm a bit confused as to why enter short when price is above sma200?
Please read my journal post on Advanced/Aggressive entries. Once you reach a certain level of proficiency with roadmap, you don't have to be guided by the SMA200.
  • #4,323
  • Feb 26, 2021 12:59pm Feb 26, 2021 12:59pm
Quoting 2muchbutter
{quote} On DOW I suppose what kept you in the trades after price/channel went above sma200 was fast RSI still being < 50, right? Oh and I just noticed, I'm a bit confused as to why enter short when price is above sma200?
Sorry, forgot to answer first part. What kept me in was market structure. After the overnight high, I was ready to fade any rises underneath that level.

Zoomed out chart below with relevant trendlines.

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  • #4,324
  • Mar 1, 2021 7:28am Mar 1, 2021 7:28am
Good day,

Here are two losing trades. Any criticism on what I missed or did not anticipate?

NASDAQ - short, everything was in place at entry, fast RSI was ~45, got out when a strong trendline got broken.

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DOW - long, everything was in place at entry as well, got scared of a huge chart spike at 'OUT' and got out after first trendline got broken. This was a loss most likely just because I got startled, since it seems that afterwards the chart went as previously expected.

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  • #4,325
  • Mar 1, 2021 2:40pm Mar 1, 2021 2:40pm
Nice EU short this morning with 1-2 punch setup (price failing to make new high on the second punch. Entry on M5

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  • #4,326
  • Edited 11:49pm Mar 1, 2021 6:02pm | Edited 11:49pm
Quoting 2muchbutter
Good day, Here are two losing trades. Any criticism on what I missed or did not anticipate? NASDAQ - short, everything was in place at entry, fast RSI was ~45, got out when a strong trendline got broken. {image} DOW - long, everything was in place at entry as well, got scared of a huge chart spike at 'OUT' and got out after first trendline got broken. This was a loss most likely just because I got startled, since it seems that afterwards the chart went as previously expected. {image}
For Your NAAS100 trade i think for the general rules you are correct. However to me we are slightly more bullish.

1. Look at the hammer on D1 chart and how price has failed to ever close below. To me this is bullish
2. Composite RSI is 64. Albeit M1 composite RSI is 45 RSI. Its really nice when they both coincide.
3. Price is above SMA for M5, M15 and D1. But below M1, M30, H1 and H4. However your trading off the M1 so i would prefer to have time frames close to that in the same direction like M1, M5, M15. Any other time frames would be a bonus (especially when inline D1). Long story short higher probabilities trades seem to come when 3 time frames close to each other line up.
4. The trend line drawn form your entry and the previous high. To me that is not a trend line. Price has yet to pull away and prove it has held and as you found out it didn't hold
5. Before crossing the road Look left then right. What do you see prior to your entry when you zoom out -on the M1
6. Just my opinion. We all see things differently. For instance i tend to refrain from trend lines, but use speed lines and horizontal support/resistance. I am also lost without using multiple time frames and Price action surpasses most other things in my opinion
7. I think it makes sense. Time for bed
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Somethings that may be worth back testing
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  • #4,327
  • Mar 1, 2021 7:31pm Mar 1, 2021 7:31pm
CCfp+ SMA200
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  • #4,328
  • Mar 1, 2021 7:41pm Mar 1, 2021 7:41pm
Quoting 2muchbutter
Good day, Here are two losing trades. Any criticism on what I missed or did not anticipate? NASDAQ - short, everything was in place at entry, fast RSI was ~45, got out when a strong trendline got broken. {image} DOW - long, everything was in place at entry as well, got scared of a huge chart spike at 'OUT' and got out after first trendline got broken. This was a loss most likely just because I got startled, since it seems that afterwards the chart went as previously expected. {image}

Hello , for your Nasdaq trade you are fighting the momentum you are shorting on an bullish momentum go read Laura journal there is one topic on don't fight the momentum.
  • #4,329
  • Mar 2, 2021 1:26am Mar 2, 2021 1:26am
Keeping it simple shows a few nice scalps on Dax so far.Last short was a scalp and locked in 10 which is just as well since price may break North of channel anytime now.
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every Saint has a past. Every Sinner has a Future
  • #4,330
  • Mar 2, 2021 1:30am Mar 2, 2021 1:30am
As an exercise -watch price around 14000 -will it break channel South or build to continue North - So if you were Long where would your stop be.
every Saint has a past. Every Sinner has a Future
  • #4,331
  • Mar 2, 2021 1:34am Mar 2, 2021 1:34am
Quoting turnip15
As an exercise -watch price around 14000 -will it break channel South or build to continue North - So if you were Long where would your stop be.
So - Laura channel rules based - you might have ten pips locked into your long by now.

Hello! - Anybody out there ??
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every Saint has a past. Every Sinner has a Future
  • #4,332
  • Mar 2, 2021 1:44am Mar 2, 2021 1:44am
Quoting turnip15
{quote} So - Laura channel rules based - you might have ten pips locked into your long by now. Hello! - Anybody out there ?? {image}
It gets better. The long now has profit locked in and trade is now stress free.

EDIT: Don't forget your speed lines here -might maximise profit. One can afford to sit back and wait for more trades before finishing at 10:30am.If no more turn up then no matter. A good morning on dax.
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every Saint has a past. Every Sinner has a Future
  • #4,333
  • Mar 2, 2021 7:26am Mar 2, 2021 7:26am
Afternoon Dax ( UK time) Short holding on by th skin of its' pips

The 5 minute, 30, 60 hourly daily -all pointed to a short

Oh well -wait and sweat
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every Saint has a past. Every Sinner has a Future
  • #4,334
  • Mar 3, 2021 1:04am Mar 3, 2021 1:04am
My very first real post here and my very first Roadmap entry or rather: entries. RSI2/RSI9 was well below 40 and the SMA200's were all red save for the 1H SMA.
First entry was inside the MA-bands after the bands both crossed the SMA200 to the downside. As PA got nearer to the 200 SMA, and because I was in for just 0.1 lot I decided to place a second entry nearer to the 200 EMA. Curious how this will play out.
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If I code, I can't trade...
  • #4,335
  • Mar 3, 2021 1:16am Mar 3, 2021 1:16am
Quoting LauraT
{image} Posting this trade to highlight confluence. You will see that I went short after price had broken Yesterday's Low and then returned to test it. Notice also that Daily Open Line and SMA were both close by overhead. When you get confluence like this, it provides a little more reassurance that resistance might hold. Of course, this is trading and anything can happen, but we can only look to stack probabilities in our favour.
It's an old post, but there's something about this entry that I don't understand. You wrote that this chart shows confluence, and indeed it does. The part that I don't understand is that your entry seems a bit early. Why didn't you wait a few more bars until PA showed that it honours the resistance to the upside?

cheers
Cognoscio
If I code, I can't trade...
  • #4,336
  • Mar 3, 2021 1:28am Mar 3, 2021 1:28am
Quoting 2muchbutter
Good day, Here are two losing trades. Any criticism on what I missed or did not anticipate? NASDAQ - short, everything was in place at entry, fast RSI was ~45, got out when a strong trendline got broken. {image} DOW - long, everything was in place at entry as well, got scared of a huge chart spike at 'OUT' and got out after first trendline got broken. This was a loss most likely just because I got startled, since it seems that afterwards the chart went as previously expected. {image}
Well done on choosing Laura's thread to learn.

I think your DOW trade was just one of those things, a good reminder of why money management is important. You have done well to recognise when a trade is not working as expected and close the trade.

For the NASDAQ trade I have posted a copy of your chart. An arrow points to an indi showing long only and line showing what I would see if I looked left. You would not have traded long either, being just under the 200 sma, also looking further left PA had bounced down off the 200 sma. Everything so far plus looking left to the end of your chart, it all seems to indicate stay out of the that market.

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Just take the easy ones.
Good Trading
  • #4,337
  • Mar 3, 2021 2:03am Mar 3, 2021 2:03am
Dax UK am. 'Look Left" lines on 5 minute and one minute lined up nicely.Long and now out. Sunak UK speaks on budget later. Not great EU economy news on FF news.
Price in big consolidation -so waiting but as my 10:30am trading slot nears its end `I may stay out now until NY open and have a look.
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every Saint has a past. Every Sinner has a Future
  • #4,338
  • Mar 5, 2021 12:32am Mar 5, 2021 12:32am
NFP (non-farm payroll) data today - be vigilant, watch your six....
If I code, I can't trade...
  • #4,339
  • Mar 7, 2021 10:17pm Mar 7, 2021 10:17pm
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Am I finally on the right track? Entered near 200 ema at daily open level. rsi bearish. A scalp with sl above 200 ema, tp around 10 pips.
  • #4,340
  • Mar 8, 2021 2:52am Mar 8, 2021 2:52am
Great trade needtolearn! Hope you held it longer than 10 pips.

I actually have a question for Laura about EU today. Do you use price patterns as confirmation in entry or closing trades? F.ex. on the EU m5 chart, price formed an ab=cd (at least I think it was one) to adr line so I took profit when it failed to close below the line. Would you have had other reasons to close all positions there or would you had possibly sold half and waited for more pa before closing the rest of it?

Happy to hear the opinion of others as well!
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