what do you reckon guys - will it drop like a stone IF it hits that record number at 5300 ?
- #465
- Edited 2:16pm Feb 15, 2017 2:05pm | Edited 2:16pm
got my 9 back so just down by commission for day. Will see how this order goes from the 5300?? Small stop ..
that was a suckers play. I was convinced the profit takers would send it flying down --- wrong
that was a suckers play. I was convinced the profit takers would send it flying down --- wrong
- #468
- Feb 16, 2017 3:11am Feb 16, 2017 3:11am
- Joined Sep 2006 | Status: Trader | 10,704 Posts
every Saint has a past. Every Sinner has a Future
- #469
- Feb 16, 2017 6:59am Feb 16, 2017 6:59am
{quote} Not the greatest trade. held after it broke the low. {image}
I've been lurking Div's emini thread for a while and have been studying his method.
I would just like to inquire if my opinion on Scaro's chart is correct (please let me know if the 123 is right or wrong)
- #470
- Feb 16, 2017 7:12am Feb 16, 2017 7:12am
- | Joined Sep 2006 | Status: howard | 1,693 Posts
Regards
- #471
- Feb 16, 2017 7:39am Feb 16, 2017 7:39am
- Joined Apr 2011 | Status: NQ eta moi lybov... | 3,030 Posts
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- #472
- Feb 16, 2017 8:15am Feb 16, 2017 8:15am
{quote} Hi The entry line should be just above the bar you have marked as 3, no connection and no trade. Others please correct me if I am wrong.
I would have set the buy limit within the same area you've mentioned, however given the price action after price broke the candle marked as "2", I would have opt to move my buy limit to the high of the candle (though there is still a good chance we did not get filled since price just tapped the said area)
{quote} It is however, correct, if you view the larger 123 as the rise to the immediate left, just a larger set-up... (which is basically why it reacted where it did). Otherwise, Howard is correct above.
Are you referring to the immediate left as point 1? Is it like the chart below?
From Div's old thread (Flag trading the trend), a 123 is defined as a HH then HL then not a HH (or vice versa). That's why I didn't consider the immediate left as point 1. I started point at the LL, point 2 at the LH, then point 3 at not making a LL.
Am I doing something wrong here? Thoughts?
Thanks!
David
- #475
- Feb 16, 2017 8:42am Feb 16, 2017 8:42am
- | Joined Sep 2006 | Status: howard | 1,693 Posts
Regards
- #476
- Feb 16, 2017 8:48am Feb 16, 2017 8:48am
- Joined Apr 2011 | Status: NQ eta moi lybov... | 3,030 Posts
{quote} Hi Howard, I would have set the buy limit within the same area you've mentioned, however given the price action after price broke the candle marked as "2", I would have opt to move my buy limit to the high of the candle (though there is still a good chance we did not get filled since price just tapped the said area) {quote} Hi TheCableGuy, Are you referring to the immediate left as point 1? Is it like the chart below? {image} From Div's old thread (Flag trading the trend), a 123 is defined as a HH then HL then not a HH (or vice versa). That's...
David, i don't really want to interfere, as H uses candles for the entry point pullbacks according to 233 tick.... 123's vary in sizes at all times, it is our job to identify them and trade them accordingly, all i meant was that if you zoomed in you will see that the candle entry is indeed a 123 in itself on a much smaller tick scale.
Basically what i am saying is, forget what i said! )
I notice H quite often uses a prior peak for pullback entry (provided it pulls directly back to the point without forming a counter 123).
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