Div, You are saying the signal happened after it broke the last line (Red) and then gave a signal to go short? Or are you saying the second line (yellow)?
It seems that when the trend is ending and you are looking for it to reverse that the HH, HL patterns tighten up, giving you the divergence many times and the swing low or swing high to use would be one or two previous to the last one. Even though the first HL was broken, that could be a ranging area. Wait one more for a confirmation, get the flag signal and enter. Thoughts?
it was trending down counter to the up trend when it took out the red line and pulled back you know you are short and the setup happened a quick 10 pip win give me 20 of thos and i will double my act every 6 weeks lol
hey joel happens to the best of them i had a trade the other day i was shorting but i hit buy tab by accident was in trade then i realized i entered in wrong direction fortunate it was off divergence and got a pullback to break even and then reenter to get a win whew!!!!!!!!!! Just be disipline to follow rules and you will do fine (blackjack for me this month)
it was trending down counter to the up trend when it took out the red line and pulled back you know you are short and the setup happened a quick 10 pip win give me 20 of thos and i will double my act every 6 weeks lol
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That is what I thought. Thanks.
I am definitely seeing that patience is the key. Surprising how often I learn that lesson in life. Your comments about 20 trades a month really hit home to stop trying to make the chart give me signals and trades. I can make the chart look like anything I want, and elephant, horse, fish or whatever. If you tell me the next elephant is the signal, I will look and look and make a fish look like an elephant. Maybe a bad analogy but I certainly can force the chart to look like certain signals. I need to lean back, look at the big picture and see the signals as they are. Not make them just because I want to make 5000% as some have (Maybe a bad joke).
justin it would be a little risky but it was only for 10 pips so why not i would watch and see if it bounces near that last support area where your target is. Guys if you enter a trade its not cruise control from there you must manage trade or you wont make money. For instance if divergence forms against you get out immidately. if there is a support or resistance candle see if price gets a significant bounce if it does move stop to be thats what i meam about managing the trade.
justin it would be a little risky but it was only for 10 pips so why not i would watch and see if it bounces near that last support area where your target is. Guys if you enter a trade its not cruise control from there you must manage trade or you wont make money. For instance if divergence forms against you get out immidately. if there is a support or resistance candle see if price gets a significant bounce if it does move stop to be thats what i meam about managing the trade.
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ya, u are correct. Thats why when i make a trade, i stick to the chart and c the changing.
