Two Lines and a Chart

Here is another situation where I placed many BS orders as price continued down, but my trendline was telling me that we shojld be looking long. The only way this works in this situation is if we are loking long, price is on the high side of our LTL, and an initial order had triggered. We are not able to put on a LTL yet. It is a lot of orders, but we'll see what happens.

BS order hit.

You can notice how the SS changed here and how a new trade was also entered. Charts to copare.

I missed another short entry here .

Caught and missed a long entry here.

Long trades hit SL. Short entry opened. Charts to compare.

SS triggered.

BS triggered. Also, was able to reposition the LTL. Charts to compare.

Was able to move UTL from here:



To here:



Price action is now above the UTL, so from here I will be waiting for a bullish bar to place a long order.

Was able to change LTL from here:



To here:



Because price action is happening below our trendline. I will be looking to place orders on bearish bars for now. One sell stop has already been placed.

Was able to change UTL from here:



To here:



By rule no more orders placed at this time. I think there is too many already . All pending orders that now fall below that line will be deleted.

Second long trade triggered as price closed back above our LTL. The SS can now be deleted.

BS triggered.

Second short triggered. UTL was able to be moved from here:



To here:

LTL was able to be moved from here:



To here:



We are currently still looking to add more short trades is the opportunity arises. Just because we moved the LTL lower than current price action does not mean that we are looking long.... at least not yet until I get somme more charts with the same scenario and can draw a better conclusion as to how to handle this situation.

I was able to move the UTL from here:



To here:



I also have set a SS order as the bar closed below our LTL.

Because price action closed above our UTL, I placed a BS order on the break out bar. I was also able to move the LTL from here:



To here:



Because price action is now above the LTL, I deleted the SS order that had been in place.

BS triggered.

Had I started this last week, we would have two open trades right now.

I was able to move the UTL from here:



To here:



This does not mean that we are looking for short trades. Bias is still long.

Price fell below our LTL. Adjusted SL for the buy and added a SS order.