but wait, the race isn't over yet... here comes ujku with the last breath....trying to reach mack .....he's just 20 points away. And 40 points ahead, close to the finish line runs evocpr...still hope for our runners go go go bears... {image} SL moved to BE. let's hope is goes straight to my target
Ratios & Harmonics: a Different Way to Trade
- #20,122
- Jul 13, 2016 3:15pm Jul 13, 2016 3:15pm
- | Joined Dec 2013 | Status: Trader | 1,118 Posts
{quote} well, u are the winner today. I'll have to be happy with the bronze medal...after mack who got silver with only -16 points
who knew, a sliver medal??? with -16, I think I owe somebody.
- #20,123
- Jul 13, 2016 3:20pm Jul 13, 2016 3:20pm
- | Joined Mar 2016 | Status: Trader | 1,068 Posts
YM +1, -6, +2, +10 = +7
ES +6.25, -1.75, +2.25, +1.00, +.50 = +8.25
Am not too happy with how I've been trading these past couple of days. Going to take some time to figure out if these changes I've made over the past couple of weeks are worth it.
YM - I really just couldn't figure this one out today really. Day was looking pretty bleak on it until I was able to get myself into the green with the last trade. On my 3rd trade I made one of the most dumb decisions in recent memory. I thought that was going to be a tiny consolidation zone before we blast up and hit the ONH. As soon as I hit the 'buy' button I felt instant regret but it was too late, had to deal with the position and control damage as best as possible. When we started dumping I broke one of my main rules and decided to cost average. My thought process was that I was hoping for a bounce from that level in order to achieve a more graceful exit. I came within 1 pt of being stopped out but price did end up bouncing and once I got positive I decided to just end the position instead of riding it. In my experiences, when I'm down on a position and it comes back to go positive, I almost never walk away with profit because I hold onto it thinking it will keep going higher however instead it dumps and goes red again. So for me, taking the small profit was almost a no brainer. My cost average was 268 and I closed at 270.
ES - Tried a 61.8 long but was stopped out. Next long I should have had a limit in for a leg start bounce but instead I waited for candle confirmation to long. Once I saw price rejecting 47.5 all those times I decided to bail with my profit and then re-evaluate. I tried another bounce play but felt that we were going to roll over so I exited and then went short. This short play is where I really messed up. Right off the bat I did not like my trade positioning. As PA had slowed down, I thought that we were going to bounce and we did start to. My thought process was that we were going to test yesterday's close (red dotted line) once more and so I decided to sell for 2 ticks profit and I was going to reshort off the close. This never happened though and so I missed out on that dump.
I find I am chasing entries and getting shit positioning. A lot of things to work on after these past 2 days.
Also not to mention but that chop after the oil report today was a bitch and to be honest I shouldn't have even been trying to do anything with it.
ES +6.25, -1.75, +2.25, +1.00, +.50 = +8.25
Am not too happy with how I've been trading these past couple of days. Going to take some time to figure out if these changes I've made over the past couple of weeks are worth it.
YM - I really just couldn't figure this one out today really. Day was looking pretty bleak on it until I was able to get myself into the green with the last trade. On my 3rd trade I made one of the most dumb decisions in recent memory. I thought that was going to be a tiny consolidation zone before we blast up and hit the ONH. As soon as I hit the 'buy' button I felt instant regret but it was too late, had to deal with the position and control damage as best as possible. When we started dumping I broke one of my main rules and decided to cost average. My thought process was that I was hoping for a bounce from that level in order to achieve a more graceful exit. I came within 1 pt of being stopped out but price did end up bouncing and once I got positive I decided to just end the position instead of riding it. In my experiences, when I'm down on a position and it comes back to go positive, I almost never walk away with profit because I hold onto it thinking it will keep going higher however instead it dumps and goes red again. So for me, taking the small profit was almost a no brainer. My cost average was 268 and I closed at 270.
ES - Tried a 61.8 long but was stopped out. Next long I should have had a limit in for a leg start bounce but instead I waited for candle confirmation to long. Once I saw price rejecting 47.5 all those times I decided to bail with my profit and then re-evaluate. I tried another bounce play but felt that we were going to roll over so I exited and then went short. This short play is where I really messed up. Right off the bat I did not like my trade positioning. As PA had slowed down, I thought that we were going to bounce and we did start to. My thought process was that we were going to test yesterday's close (red dotted line) once more and so I decided to sell for 2 ticks profit and I was going to reshort off the close. This never happened though and so I missed out on that dump.
I find I am chasing entries and getting shit positioning. A lot of things to work on after these past 2 days.
Also not to mention but that chop after the oil report today was a bitch and to be honest I shouldn't have even been trying to do anything with it.
- #20,124
- Jul 13, 2016 3:40pm Jul 13, 2016 3:40pm
- | Joined Mar 2016 | Status: Trader | 1,068 Posts
Lol, not one of us took that bounce from 18229 area.
I saw a bounce level there but I didn't think it was valid any longer seeing as though price had spiked down right through it in p/m.
It was in the prz as well, this would have been a good one :/ 
I saw a bounce level there but I didn't think it was valid any longer seeing as though price had spiked down right through it in p/m.
It was in the prz as well, this would have been a good one :/
- #20,127
- Edited 4:57am Jul 14, 2016 2:52am | Edited 4:57am
- | Joined Dec 2014 | Status: Trader | 1,008 Posts
whoa...look at that nice move up, against which I wanted to enter yesterday....hm
edit: target hit, +40 points. obviously price is going higher but i had to take this profit to neutralize my yesterday loss.
edit: target hit, +40 points. obviously price is going higher but i had to take this profit to neutralize my yesterday loss.
- #20,128
- Jul 14, 2016 5:03am Jul 14, 2016 5:03am
- | Joined Dec 2014 | Status: Trader | 1,008 Posts
oh shit...what a terrible MM. priced flied 35 points higher from where I took the profit.....
- #20,129
- Jul 14, 2016 1:09pm Jul 14, 2016 1:09pm
- | Joined Dec 2013 | Status: Trader | 1,118 Posts
oh shit...what a terrible MM. priced flied 35 points higher from where I took the profit.....
- #20,132
- Jul 14, 2016 1:51pm Jul 14, 2016 1:51pm
- | Joined Dec 2013 | Status: Trader | 1,118 Posts
Lol, not one of us took that bounce from 18229 area. I saw a bounce level there but I didn't think it was valid any longer seeing as though price had spiked down right through it in p/m. It was in the prz as well, this would have been a good one :/ {image}
Analysis: When I first looked at the market. I seen that the L/T bulls were in control but weakening . Evidence by; weaker projection, weaker Momentum, deep PB, and increased bearish momentum.
Expectation: So, I was thinking possible reversal and looking for the LH at the 61.8 - 78.6 of the current swing.
I didn't notice Prior days opening range was in the vicinity of some structure (pic 1) or the harmonics of the pullback (pic 2). I did notice the 1 to 1 down. PB with a 1 to 1 are good opportunities but I was skeptic of the bearish momentum and the depth.
Lets look at the reaction.
Nice engulfing pattern. But I was anticipating further bearish pressure. Didn't want to be too early.
Uhmmmm Nice bounce. missed entry. second opportunity. I figured to expensive since I'm looking for a LH at the 61.8 - 78.6 so I let it go
Price tried to reverse in my area but was unsuccessful and the bulls remained in control. Price eventual stalled in the after hours then went higher on some GBP interest rate news
Does anybody see anything wrong with my logic? The only thing I can think of is that I was expecting a reversal and not going with the trend even tho the evidence was pointing at a potential reversal.
- #20,134
- Jul 14, 2016 2:04pm Jul 14, 2016 2:04pm
- | Joined Dec 2014 | Status: Trader | 1,008 Posts
{quote} Does anybody see anything wrong with my logic? The only thing I can think of is that I was expecting a reversal and not going with the trend even tho the evidence was pointing at a potential reversal.
it's too late now, but i have this urge of entering one more time ....hehe
- #20,137
- Jul 14, 2016 2:08pm Jul 14, 2016 2:08pm
- | Joined Dec 2014 | Status: Trader | 1,008 Posts
Congrats ujku. I came late to the chart (after the big run up). However, I could collect +14 points.
- #20,140
- Edited 2:26pm Jul 14, 2016 2:14pm | Edited 2:26pm
- | Joined Jan 2016 | Status: Trader | 1,719 Posts