mbqb11 or anyone else -
Hey, wonder if you have a moment to comment on this:
I pass on a lot of trades because of them being perceived by my as against the trend or recent momentum.
My trading style is a bit different than what I read here but I've learned a lot from this thread and trading from S/R and PA no matter what your style does have the S/R and PA in common.
A couple charts would probably be a better example but, when I see large range bars moving up and closing at their highs coming right into a huge Resistance level, I'll pass on the short even if awesome PA forms because I feel that if I short, it's going against the momentum which lowers the probability.
Or, and this one is real tough, when is a pullback in a trend more than a pullback? I'll pass on a lot of trades because I'll see a countertrend pullback right to my S/R level with nice PA, but then I feel that it's traveled too far and now may be a new trend.
I 'll look for some charts for examples.
Hey, wonder if you have a moment to comment on this:
I pass on a lot of trades because of them being perceived by my as against the trend or recent momentum.
My trading style is a bit different than what I read here but I've learned a lot from this thread and trading from S/R and PA no matter what your style does have the S/R and PA in common.
A couple charts would probably be a better example but, when I see large range bars moving up and closing at their highs coming right into a huge Resistance level, I'll pass on the short even if awesome PA forms because I feel that if I short, it's going against the momentum which lowers the probability.
Or, and this one is real tough, when is a pullback in a trend more than a pullback? I'll pass on a lot of trades because I'll see a countertrend pullback right to my S/R level with nice PA, but then I feel that it's traveled too far and now may be a new trend.
I 'll look for some charts for examples.