I entered at 113.704 long at 0005 NY time. H1 and H2 ROMAR, EMA, PSAR are support. White appears to be sliding under purple. The only resistance I see are the BB and green divergence. I think the BB will move as the market nears and the green divergence can probably continue up some more.
- #6,126
- Edited 2:45am Aug 19, 2016 2:12am | Edited 2:45am
{quote} Unfortunately I did not follow my own plan yesterday. Just before going to bed at Sydney open I had the open at H2 Smooth support with H1 Purple crossing Smooth going up and that was a good entry going long. Jens, did you have an entry yesterday according to your plan?
I wanted to see a PSAR flip before entering. at the candle I marked in the screenshot below, the PSAR hadn't flipped yet at the moment it opened. it was a long candle so I couldn't enter the one after as that wouldn't have been an entry at support.
looking back to it when I reference the 1 hour. (equivalent candle with 2 hour marked in the screenshot below) we had a strong indication the market would go higher. a low had been made at 112.636 and at the moment of entry the horsemen would be on their way up with the PSAR set in stone
- #6,130
- Edited 3:00pm Aug 19, 2016 2:39pm | Edited 3:00pm
I entered at 113.704 long at 0005 NY time. H1 and H2 ROMAR, EMA, PSAR are support. White appears to be sliding under purple. The only resistance I see are the BB and green divergence. I think the BB will move as the market nears and the green divergence can probably continue up some more.
Hello InDaMoment
First, I don't pretend to know better than anyone else here! I like to speak about the paradox here on this thread and with anyone that's interested.
I noticed something with your position that would have put me on waiting mode. The first thing is the paradox states clearly not to trade against hidden (green) divergence.
From what I can see of your entry, market had made a Higher high with green div attached. MA's were aligned but simply by the fact of the trend lasting long enough to align them. Horsemen aligned are not an entry in themselves. Now from there; what is important is Support and Resistance levels. And to know wether your charts are still in trend or ''consolidating''. In trend if you have this type of setup showing up (even if you're in full trend) market will want more to retrace and/or reverse as it wants to stay in trend. Where was EMA? where was ROMAR? You need to harness other factors if you want to trade the MA's.
That trade was in the middle of nowhere at the end of a green bar. With green divergence telling to stop Buying.
There are several rules with the paradox (I even made some more for myself to restrict times where bad emotions could spill over my trading).
Also I avoid using words like ''I think this or that will happen'', ''probably'', ''maybe'', etc.I found it help a lot see the true nature of things. How can I adapt my vocabulary to be more accurate about the reality of trading?
I don't aim and lock my thoughts in a single direction, I try to adapt from '' crucial points to crucial points'' and one thing is sure : we can never know or predict 100% what will happen. What I do is harness the power of confluence given by the paradox, I place S/L below/above Support/Resistance, I am not greedy I take what the market has to offer, I often put T/P below/above last swing high/low in order to not count on the market making a new top/bot for T/P. Being right, being wrong, trying to predict subjectively is futile. I think of trading in terms of statistics!
Sorry if I come out harsh maybe? I don't know. But I'm speaking for myself here also. I have the problem of taking too many ''emotional'' trades and this week I adressed the issue wisely by implementing a checklist before each trade. It sounds idiot but it is very reminding of how many setups there is really : not much is going on at a given time. I have to pay attention and know the rules by heart.
Green pips to ya'll
Edit: corrected a word that made no sense in english
No tree, it is said, can grow to heaven unless its roots reach down to hell
WOW.....
After about 18 days of reading over 300 pages
it is exactly i am --->
dove where r u man?
so
no problem
thank u very much
now i learn something maybee it is not perfect but it is good
and thank u again
i work on this system until u show your self
i am wonderin where is the rest of people post here
After about 18 days of reading over 300 pages
it is exactly i am --->
dove where r u man?
so
no problem
thank u very much
now i learn something maybee it is not perfect but it is good
and thank u again
i work on this system until u show your self
i am wonderin where is the rest of people post here