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Continuation or reversal - which is better ?
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Continuation or reversal - which is better ?

  #11 (permalink)
Big game hunter
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cpi65 View Post
Yo!

"One mans meat is another mans poison" !! !! !!

I don't get bogged down on whether I am a trend follower or a bottom picker (smelly finger). I know what I am looking for and I trade when I see it, end of.

One thing about day trading reversals... well the ES opened up (RTH) at 1117 and has a high at 1124 - that means there were 28 highs during the day, but only one of them turned out to be true...

Well put .Theres only one HOD each day but you dont know which high is ultimately the HOD until the EOD . Thats what makes reversal trading compelling and the reason i choose either to focus on continuations or reversals but not both , so as not to get bogged down . Trends are tough to jumped in on and its tough to not get in just as its ending . Reversals are tough because you dont know where the turn is coming . There is definitely equal potential in regards to profitability trading with or against the tide if you hone your technique and practice it religiously .

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  #12 (permalink)
Elite Member
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Eric j View Post
Well put .Theres only one HOD each day but you dont know which high is ultimately the HOD until the EOD . Thats what makes reversal trading compelling and the reason i choose either to focus on continuations or reversals but not both , so as not to get bogged down . Trends are tough to jumped in on and its tough to not get in just as its ending . Reversals are tough because you dont know where the turn is coming . There is definitely equal potential in regards to profitability trading with or against the tide if you hone your technique and practice it religiously .

Trading reversals is NOT about trying to pick tops!!

Here's what I look for. A "REAL" 1-2-3 trend reversal pattern. Notice this is NOT what some are posting on the "Ross Hook" thread. This is from 7/19 a 15 minute chart of CL.

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  #13 (permalink)
Big game hunter
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Jeff Castille View Post
Trading reversals is NOT about trying to pick tops!!

Here's what I look for. A "REAL" 1-2-3 trend reversal pattern. Notice this is NOT what some are posting on the "Ross Hook" thread. This is from 7/19 a 15 minute chart of CL.

Reversal = Countertrend in my vocabulary . Your reversal isnt what I mean by reversal Jeff . Thats more like volume spike , wide range bar , IB - down it goes ala Silvester17 .

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