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DJIA one trade per day - Who's in?!

  • #101
  • Oct 27, 2016 11:41am Oct 27, 2016 11:41am
Quoting Go5
{quote} I marked two "possible" targets and put my SL at the first SR formed on the M1, got in again when it went further down and closed it when those nervous "news-like" movements set in...
The "news like" movements you refer to was profit taking in my IMHO , there was loads of momentum behind the down move.
Although I would not deviate from the rules of entry or exit, you may want to add your favourite momentum indicator with
perhaps a trend indicator to the 1 Minute chart to help you stay in the trade.

Just a suggestion.
  • #102
  • Oct 27, 2016 12:19pm Oct 27, 2016 12:19pm
Quoting highlanderx
{quote} The "news like" movements you refer to was profit taking in my IMHO , there was loads of momentum behind the down move. Although I would not deviate from the rules of entry or exit, you may want to add your favourite momentum indicator with perhaps a trend indicator to the 1 Minute chart to help you stay in the trade. Just a suggestion.
Like drawing a simple trendline? If it breaks; get out?
  • #103
  • Oct 27, 2016 12:29pm Oct 27, 2016 12:29pm
Quoting henri2500
{quote} Like drawing a simple trendline? If it breaks; get out?

Your choice :-D
  • #104
  • Oct 27, 2016 12:46pm Oct 27, 2016 12:46pm
Quoting highlanderx
{quote} Your choice :-D
Just sharing ideas
  • #105
  • Oct 27, 2016 1:49pm Oct 27, 2016 1:49pm
If you look at Forex this situation is everywhere. I think OB is equivalent to support and resistance lines or zones, just a different name. Would be really interesting to know how to figure our which one will hold and which one won't if at all possible. One of the examples posted by Gt3rs was recent 4 hour EURJPY chart...

I read a lot of Tom Dante but never looked at ICT. Now watched some of it on Youtube, will watch more. What he is showing seems very interesting.
  • #106
  • Oct 27, 2016 2:00pm Oct 27, 2016 2:00pm
Quoting aa1
If you look at Forex this situation is everywhere. I think OB is equivalent to support and resistance lines or zones, just a different name. Would be really interesting to know how to figure our which one will hold and which one won't if at all possible. One of the examples posted by Gt3rs was recent 4 hour EURJPY chart... I read a lot of Tom Dante but never looked at ICT. Now watched some of it on Youtube, will watch more. What he is showing seems very interesting.
Do you have a link to this Youtube-videos? Cannot seem to find them
  • #107
  • Oct 27, 2016 2:05pm Oct 27, 2016 2:05pm
I don't really know the policy regarding posting the links here, will have to see what the owner says. I don't know why but sometimes people are against it.

Try to google: Market Maker Concepts - InnerCircleTrader. I see several of videos once Youtube opens with the first one.
  • #108
  • Oct 28, 2016 8:45am Oct 28, 2016 8:45am
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Todays trade I think top chart 5 min lower chart 1 min
  • #109
  • Oct 28, 2016 8:50am Oct 28, 2016 8:50am
I don't get it yet... there is major divergence, but price keeps rising? I thought that price hit its height already 10 minutes after opening, due to this RSI divergence. How can we tell that there will be an even higher high that shows even more divergence on RSI?
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  • #110
  • Oct 28, 2016 8:55am Oct 28, 2016 8:55am
Let's see how it goes.
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  • #111
  • Oct 28, 2016 8:55am Oct 28, 2016 8:55am
SL hit still rising
Re entered and set stop to last H of 15 min chart
  • #112
  • Oct 28, 2016 8:56am Oct 28, 2016 8:56am
Quoting cfudge
{image} {image} Todays trade I think top chart 5 min lower chart 1 min
Think so too.
  • #113
  • Oct 28, 2016 9:02am Oct 28, 2016 9:02am
Update : around 2.5 R on that. Closed out early.
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  • #114
  • Oct 28, 2016 9:04am Oct 28, 2016 9:04am
Quoting cfudge
SL hit still rising Re entered and set stop to last H of 15 min chart
Covered my problem perfect; that whats happened here to. How can we be sure there isn't another top coming?
  • #115
  • Oct 28, 2016 9:05am Oct 28, 2016 9:05am
Jeez, would have hit TP for a 5.5R. Oh well !
  • #116
  • Oct 28, 2016 9:08am Oct 28, 2016 9:08am
Quoting Baymax07
Jeez, would have hit TP for a 5.5R. Oh well !
Better save than sorry! But wouldn't be suprised if it dropped to 18100, cause following the theory, that is where all the SL are hidden right?
  • #117
  • Oct 28, 2016 9:09am Oct 28, 2016 9:09am
Quoting henri2500
I don't get it yet... there is major divergence, but price keeps rising? I thought that price hit its height already 10 minutes after opening, due to this RSI divergence. How can we tell that there will be an even higher high that shows even more divergence on RSI? {image}
We can't. It's just a game of probabilities.
  • #118
  • Oct 28, 2016 9:13am Oct 28, 2016 9:13am
Quoting henri2500
{quote} Better save than sorry! But wouldn't be suprised if it dropped to 18100, cause following the theory, that is where all the SL are hidden right?
Well, I prefer to look for the recent swings. 18100 is too far in my opinion.
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  • #119
  • Oct 28, 2016 9:18am Oct 28, 2016 9:18am
Quoting henri2500
{quote} Better save than sorry! But wouldn't be suprised if it dropped to 18100, cause following the theory, that is where all the SL are hidden right?
i think that's where the 5 min 1 min comes in.
let it go, mark box, then on return go to 1 min then get in.
thats what i did after it took me out same as you. schoolboy error i think.
Stop killing our Oceans, Stop using single use plastics.
  • #120
  • Oct 28, 2016 9:20am Oct 28, 2016 9:20am
Quoting henri2500
I don't get it yet... there is major divergence, but price keeps rising? I thought that price hit its height already 10 minutes after opening, due to this RSI divergence. How can we tell that there will be an even higher high that shows even more divergence on RSI? {image}
IMHO you are going too far to spot the divergence. I would max go back to 1 hour period of data to spot the divergence before NYSE open .
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