Hi Mr. Pip,
I'm so glad to see you back. I have been learning from your posts and videos and still have many questions. During my practice I found it's hard to keep my position when the price goes in one direction for a very big trend as I would most likely out my positions at a structure high or at the end of a ABCD or AB=CD pattern. And it's hard for me to get a position in a trending market as in those situations the price normally only retrace 38% to 50% which is hard to get in because the Reward/Risk is not that good using the principles of aggressive C buy. I think I haven't understand the key of order flow yet and hope you can shed some light on me. For example in the chart below which shows a trending market, I'm looking at it and try to think back to see if there is a good reason for me to buy at these 4 entry points marked in it.
Point 1 is an aggressive C buy because it retrace back more than 61.8% to the dominant swing before it.
Point 2 is where I think I was not able to catch. It retraced 50% to dominant swing which isn't qualified for an aggressive C buy and didn't turn back at an obvious structure support level. What would be your principles to catch a buy point like this?
Point 3 is an aggressive C buy because it retrace back more than 61.8% but didn't close below 78.6% to the dominant swing.
Point 4 is a revisit to a previous supply zone and that's the only reason I can find. It only retraced 50% to the dominant swing. Is there any other principles you would have to buy at a point like this?
Or maybe only 1 and 3 you would open your positions and would skip points like 2 and 4?
Thank you very much!
I'm so glad to see you back. I have been learning from your posts and videos and still have many questions. During my practice I found it's hard to keep my position when the price goes in one direction for a very big trend as I would most likely out my positions at a structure high or at the end of a ABCD or AB=CD pattern. And it's hard for me to get a position in a trending market as in those situations the price normally only retrace 38% to 50% which is hard to get in because the Reward/Risk is not that good using the principles of aggressive C buy. I think I haven't understand the key of order flow yet and hope you can shed some light on me. For example in the chart below which shows a trending market, I'm looking at it and try to think back to see if there is a good reason for me to buy at these 4 entry points marked in it.
Point 1 is an aggressive C buy because it retrace back more than 61.8% to the dominant swing before it.
Point 2 is where I think I was not able to catch. It retraced 50% to dominant swing which isn't qualified for an aggressive C buy and didn't turn back at an obvious structure support level. What would be your principles to catch a buy point like this?
Point 3 is an aggressive C buy because it retrace back more than 61.8% but didn't close below 78.6% to the dominant swing.
Point 4 is a revisit to a previous supply zone and that's the only reason I can find. It only retraced 50% to the dominant swing. Is there any other principles you would have to buy at a point like this?
Or maybe only 1 and 3 you would open your positions and would skip points like 2 and 4?
Thank you very much!