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Tommy's Revenge


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Tommy's Revenge

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  #61 (permalink)
GrandRapids, Michigan
 
 
Posts: 152 since Mar 2011
Thanks: 220 given, 72 received

Im still using wcci, I just have it squeezed at the bottom on 4range chrt. Mainly wcci is used for divergenge for me. The others are Volume & 3 W%R's...8 period red, 21 blue, & 55 green.

When all w%r's point down or up is just a signal for a potantial reversal and when green & blue stay up while red goes down its likely a continuation. Theres more into reading the 3 w%r's with interpreting pa. Im not an expert at it but I think its time that I try to be one.

I worked some of my Bear Market Bulldog all day yesterday, I forgot markets close today, should of traded yesterday & today study. And Im going over Tommys Revenge today as well.

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  #62 (permalink)
GrandRapids, Michigan
 
 
Posts: 152 since Mar 2011
Thanks: 220 given, 72 received

Trade 1..

With the break of trendline pa failed to make another swing low, made a higher swinglow then broke previous swing high level. Risk was low due to placing stop beneath the 1st higher swing low.

Low risk High odds setup.


Trade 2..

After the paycycle was complete we had consolidation that was a sideways channel, with the break of channel risk was at channel line, small..about $40. Small paycycle...added 24 points.

Also notice green w%r is traversing mostly higher while red & blue move down to oversold all awhile pa stays in channel thus coiling. Great continuation signal.

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  #63 (permalink)
GrandRapids, Michigan
 
 
Posts: 152 since Mar 2011
Thanks: 220 given, 72 received


2 area's of resistance w/ a higher swing low..broke bottom part of ascending wedge. I shorted sooner cus of the makeup of a down move. and trend.

PA afterwords traversed sideways broke support...nice move down, missed it. Looking for new setup.

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  #64 (permalink)
GrandRapids, Michigan
 
 
Posts: 152 since Mar 2011
Thanks: 220 given, 72 received

A nice bearish set-up, but pa did break above resistance, however not enough grounds for a reversal! We got a 3 candle swing to the downside...excellent set-up! with trend direction in play..low risk relative to swing structure, captured 1st wave.

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  #65 (permalink)
GrandRapids, Michigan
 
 
Posts: 152 since Mar 2011
Thanks: 220 given, 72 received

Theres a long setting up but heres the deal w/ my short..another ascending wedge, shorted break was up $50, maybe I should of looked back furthur w/ a fib to spot exaustion? Stoped out regardles.

That long is still developing. A series of higher swing lows..waiting for a breach of a major swing, a lower swing high. Not happening! A double bottom thu..it could happen.

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  #66 (permalink)
GrandRapids, Michigan
 
 
Posts: 152 since Mar 2011
Thanks: 220 given, 72 received

Support was hit about 4 times & a desending wedge was being printed...it broke out..in hind sight I should of allowed for a higher swing low to print confirming swing structure. Non- the less I didnt get out on top, that minor swng low made by price bars would of been the spot to take profit.

Confidance is building.

Im not gonna bother to put pic up for this. I was anticipating a major higher swing low, I jumped it some, not quite a completed 3 candle swing to the upside, did have a tight stp, it got hit -$30 Ahhh there she blows!! as I write..stop too tight for sure.

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  #67 (permalink)
GrandRapids, Michigan
 
 
Posts: 152 since Mar 2011
Thanks: 220 given, 72 received

Working on swing structure.

Lost electric for a few hrs, got it back, took this short, hung on for awhile & couldnt stand it any longer.

All the great people that look at my journal..a single thanks is not warranted?

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The following user says Thank You to Billbb for this post:
 
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  #68 (permalink)
GrandRapids, Michigan
 
 
Posts: 152 since Mar 2011
Thanks: 220 given, 72 received

This journal is for my own tracking...dont look!

So anyways...self.

Dont take anything other then TREND goddamn trades..their alot easier and I see green way quicker & why the fuck would I swimm againts the current?

To self: In 3 candles pa did not get me there..cut it off! Bitches, dont be reading my shit!

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  #69 (permalink)
GrandRapids, Michigan
 
 
Posts: 152 since Mar 2011
Thanks: 220 given, 72 received

Okay, back to trading..yesterday babysat grandchild.


At 8:28 before unemployment #s pa broke consolidation..I shorted & placed stp at red line..13 points=$65. As news came out pa shot like a rocket! Down. 55 below 200. I kept myself satisfied w/ a $65 price to pay to play! I waited for pa to show me its time to cut & run, ofcourse giving up on a little extra profit to do so! Thats the price! Nothing's free.

As I write to...MY SELF..I see (stop reading! Go back to some one else's journal!) that it paid off.

GOOD JOB ME ! I would thank myself but I cant! My remarks dont apply to zt379 or anyone who has displayed graditude on my journal..only intended for those who read & move on.

Missed that long! Got stped out at minor sw low..that was my shot, took it & missed. Its hard to reload to go again, even in sim. Thank you daytrader999

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  #70 (permalink)
GrandRapids, Michigan
 
 
Posts: 152 since Mar 2011
Thanks: 220 given, 72 received


I was down $145 by trying to catch the reversal. Kept saying to myself, go w/ the trend! Then I finaly did, took a short after the pullback, put a stop on for $130, the last major swing. Went outside for a cigar came back in and I was up $315 & actually more but I waited for a failed swing to the down side.

Im gonna go live in 2 weeks and I beg of myself to take trend trades only and not to get tricked into reversals. I must lose the habit of going againts the trend. I think allow pa to reach beyond 55ema to ensure reversal?

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