Joined Nov 2008
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Status: You must obey the dance commander
|2,038 Posts
Here's the trade...
Long off of S1 on the break of the pin bar (shown by the arrow). We had two high volume sells before the pin that made me consider the trade and used the pin that also had high volume as the trigger.
I moved my stop to BE slightly earlier than normal (although if I hadn't my normal trade rules would have gotten my stop to BE too) as price hit the 110.00 psych level.
Long off of S1 on the break of the pin bar (shown by the arrow). We had two high volume sells before the pin that made me consider the trade and used the pin that also had high volume as the trigger.
I moved my stop to BE slightly earlier than normal (although if I hadn't my normal trade rules would have gotten my stop to BE too) as price hit the 110.00 psych level.
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Joined Nov 2006
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Status: very junior member
|1,576 Posts
what a difference in entry makes! i took exactly the same trade, except that i entered on break of the next bar whereas you entered the rbeak of the pin. loss for me, b/e for you.
i thought you used to take the break of the next bar, so long as it closed (red or green) in the direction of the trade?
Long off of S1 on the break of the pin bar (shown by the arrow). We had two high volume sells before the pin that made me consider the trade and used the pin that also had high volume as the trigger.
I moved my stop to BE slightly earlier than normal (although if I hadn't my normal trade rules would have gotten my stop to BE too) as price hit the 110.00 psych level.
what a difference in entry makes! i took exactly the same trade, except that i entered on break of the next bar whereas you entered the rbeak of the pin. loss for me, b/e for you.
i thought you used to take the break of the next bar, so long as it closed (red or green) in the direction of the trade?
Ignored
Hi Coolshades,
If it's a decent setup like a pin or engulfing bar etc I will take the break of that bar. If however it's a VSA based setup without confirming PA I will usually wait for the break of the bar that closes in the direction of my trade... if that makes sense!?!
If it's a decent setup like a pin or engulfing bar etc I will take the break of that bar. If however it's a VSA based setup without confirming PA I will usually wait for the break of the bar that closes in the direction of my trade... if that makes sense!?!
Hi Dan,
Do you have any more info on the better volume indicator? I understand red=high volume, yellow is low etc...
But what is white climax low? And why are some of the Neutral blue bar longer than others and some have different figures next to neutral? Any info you have or just your understanding of them would be great, thanks.
Hi Dan can you tell me how you have your better volume indicator setup as i had a blue neutral bar on that pin today when you had a red bar?
Ignored
I have it set to the default settings... I think the difference is probably due to different brokers (which is where VSA can go a little squiggly and the reason that a service provider like eSignal might be a better option).
I would also caution against relying on the colours of the BVI too much... in my opinion that bar, even though it was blue on your system still looks like high volume to me and therefore not a neutral bar - just my opinion though!
I have it set to the default settings... I think the difference is probably due to different brokers (which is where VSA can go a little squiggly and the reason that a service provider like eSignal might be a better option).
I would also caution against relying on the colours of the BVI too much... in my opinion that bar, even though it was...
Please feel free to continue posting/discussing the intraday setups in the new journal as I am going to leave this journal to the long term trading stuff!
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Joined Oct 2010
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Status: Junior Member
|9 Posts
when technical analyst say the support and resistant levels what it means? and they mention upward and downward levels so how can we find upward or downward going to happen first?
