Hi J.
I saw that pb too on the high of yesterday Ib.... i would like to attach my chart and show how i'm looking it.
Note: I already fibbed todays move 'cause it was a nice leg up that inglobed all yesterdays move and the pb signed a start of retracement; so now i'm looking for my entry on a good support that could be a 61%-50% area .... ???? lets see what happens ...
Looking at the monthly chart I'm thinking that this weeks move is going to layout an important support level ...
My plan would be an entry on Pa on those retc of todays move with stoplss on todays low . . if everything folds like i plan then i will be trailing my stops
Hello Giusepp8,
I was looking to hold the long too but after watching Price I took profit on the long and went short. No shame in demoing by the way, its the smart thing to do imho. I mean if you don't have discipline to grow your account for 3 months like James says ....how you gonna do it with real money?
Anyway back to that pin.... Just saying that I wanted to short so bad I could taste it does not really help you so here was my though process. we were at the top of a the range and price had made three pushes up. You will hear price makes 3 pushes to a high ..this is from Rashke. Then I was watching the swings. I use a 2bar swing chart. Up trends often make an abc correction then move on but past the ABC is suspect. To me it means Range/ or Trend reversal. Price took out a low then took out a second low.
then I just waited for a rally to short "circled in green". I went short way to early would have been better to watch PA in that upswing for a shorting opportunity. There was a 4hr hammer as well. I'm still working like mad on my exit strat but I hear James in my head saying " this stuff is dirt simple folks". He says that when he is going threw price working threw prior S/R zones. My target was the bottom of the range. I took most off the board a little past the bottom and left a little bit to ride. I know this isn't the best exit strat but its the best I am capable of for the time. Hope this helps.
My impatience cost me two small losses on the GJ but that's another story
Jason
May the fish in your stream of life always bite.
