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Trading the SLA/AMT Intraday
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Trading the SLA/AMT Intraday

  #141 (permalink)
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Tough at the top.

Interesting to see what happens here with price at the top (slight breach) of the multiday range and close to ATH.

Gozilla.
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  #142 (permalink)
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OmDBnamah View Post
Namo Gurudev. ...

Thanks for your reply. You also answered my next question (regarding which range to consider) in the above post..

If no one sees your "extreme" but you, it's not likely that anyone is going to be trading it the same time you are, and if you're all alone, who's going to help push price in the direction you want it to go?

And I used this in a way today when I waited for around 4 hours for breakdown of yesterday's range to trade....

And I can tell it is not easy to keep your calm intact as you tend to see trades when none exist..

Regards,
K

Which is why I continue to encourage people to trade longer bar intervals. If patience is an issue, daytrading is not the place to be unless one wants to scalp, and this isn't a scalping approach.

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  #143 (permalink)
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Gozilla View Post
Interesting to see what happens here with price at the top (slight breach) of the multiday range and close to ATH.

Gozilla.

It's the damned ES. When they decide they want to move, it'll be much easier.

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  #144 (permalink)
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DbPhoenix View Post
It's the damned ES. When they decide they want to move, it'll be much easier.

I guess the ES moved just enough to drag the NQ with it, price has tagged the lower extreme of the range, now its a case of whether or not price can get back to the upper extreme or break to the downside.

We are still between a rock and a hard place.

Gozilla.
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Last edited by Gozilla; June 24th, 2015 at 11:32 PM.
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  #145 (permalink)
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What was the last thing you traded? Look at its 1 year, 6 month, 1 month, and 3-5 day charts. Can you see all the opportunities where you could have made a profit? Should have gone long there, shorted here . . .. You're assessing "opportunity" based on price activity subsequent to the point at which you believe the opportunity existed, which means that you're working backward to identify that point of opportunity. This type of thinking will cause a trader to make trades when no real opportunity exists.

Looking at the charts again, try to identify forward-looking opportunities, where you consider only each price point and the price patterns before it. You'll find that it's now far more difficult to spot the winners, but those are the opportunities that you need to identify and then appropriately act on in order to be a successful trader.

-- Innerworth


In other words, everyone's a genius in hindsight. Beating yourself up for missing an opportunity that you didn't plan for is not productive, though if it prompts you to look for similar opportunities and commonalities among them that might result in a new setup, then the opportunity you didn't take advantage of turns out to be an opportunity that you're taking advantage of after all.


Last edited by DbPhoenix; June 24th, 2015 at 08:53 PM.
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  #146 (permalink)
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Pre-market hinge with 4535 as midpoint.

Watching for breakout/pullback SLA entries and midpoint tests.

(Would post image of chart, but unable to yet due to 5 post minimum).

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  #147 (permalink)
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Hinge and range?


TheTradeSlinger View Post
Pre-market hinge with 4535 as midpoint.

Watching for breakout/pullback SLA entries and midpoint tests.

(Would post image of chart, but unable to yet due to 5 post minimum).

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  #148 (permalink)
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4750 has come up repeatedly since Monday, and today it's the upper limit of the hinge. I suggest we pay close attention to it.

0941: 2 failures at 22.5.

0944: make that three. Appears to be the ES again.

0952: Lots of cross currents here with the ES: financials are fine, energy not so much. Then there's the Greece thing which, given the activity in the early hours, appears to be important to Europe. And the ES appears to be taking the lead, leaving the NQ messy.


Last edited by DbPhoenix; June 25th, 2015 at 10:52 AM.
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  #149 (permalink)
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DbPhoenix View Post
4750 has come up repeatedly since Monday, and today it's the upper limit of the hinge. I suggest we pay close attention to it.

4750?

 
  #150 (permalink)
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Mean reversion.


Seems like price is revolving around the mean of the previous days high-low at 35, not much to think about until price gets to or surpasses the
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