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TST Trade Journal


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TST Trade Journal

  #71 (permalink)
BeansTwoNiner
Toronto Ontario Canada
 
Posts: 290 since Mar 2013
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5m Trend Line and 15m confirmed.

Let's hope a 2nd chance entry sets up to get short.

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  #72 (permalink)
BeansTwoNiner
Toronto Ontario Canada
 
Posts: 290 since Mar 2013
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i didn't even know what was going on, or more like how to implement the Kiss Trendline Goodbye concept to a 5m after it closes.

in hindsight, i could have just gone short at the close of 5m candle, but its still learning the stuff right now,

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  #73 (permalink)
BeansTwoNiner
Toronto Ontario Canada
 
Posts: 290 since Mar 2013
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my thought process of what developed was on the conservative side of waiting for the 15m to close to confirm what I'm seeing, taking that KTTG and 5m close would have been aggressive, EoS target @ 3537, so it would be a really good R:R ratio

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  #74 (permalink)
BeansTwoNiner
Toronto Ontario Canada
 
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Market State assessment, 5m slightly bullish into a very bearish larger time frame.

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  #75 (permalink)
BeansTwoNiner
Toronto Ontario Canada
 
Posts: 290 since Mar 2013
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Price Action really slow right now, 5m, slightly bullish, 15m same, in an overall moderately bearish trend.

Can also argue to be ready to draw a trend line on the 15m if the next candle closes and the rule is meet.

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  #76 (permalink)
BeansTwoNiner
Toronto Ontario Canada
 
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Upon drawing a pilot trend line on the 15m, the rules would not be meet for a valid defining point, but the 5m and tick chart are meet.

Have a secondary entry, if the market closes below the trend line on a 5m with tick chart for another entry, ie KTTG.

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  #77 (permalink)
BeansTwoNiner
Toronto Ontario Canada
 
Posts: 290 since Mar 2013
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Setting up for a short!

Gonna take it and see what happens if a pattern or rule set is meet.

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  #78 (permalink)
BeansTwoNiner
Toronto Ontario Canada
 
Posts: 290 since Mar 2013
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If the 5m closes below the trend line, then I am getting short with a target of the Initiating Point (IP) or EoS, which ever is the conservative target, but they appear to be very close together, stop will be at the 5m swing high.

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  #79 (permalink)
BeansTwoNiner
Toronto Ontario Canada
 
Posts: 290 since Mar 2013
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No trade entry, I could enter with more aggressive break of trend line, though it would increase the probability of getting stopped out.

Hmmm, wait for close or enter on the break?

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  #80 (permalink)
BeansTwoNiner
Toronto Ontario Canada
 
Posts: 290 since Mar 2013
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I've elected to go with break of trend line as it also lines up with the low of the 15m candle. As of this journal entry, price broke and did not get a fill of 3575, on the right side.

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Last Updated on August 12, 2013


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