Beth's Journey to Make Her Millions

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trippenlatin

Try labeling the LH and the HL also in this chart, it should give you more clarity

I agree

That chart is really a fantastic chart example of LH + LL, then indecision, then HH + HL...

When trend is strong some other indicators like even a simple moving average can be "faster", but when trend slows down and it becomes more choppy, PA is the best medicine.

Mike

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Hey Beth

I've tried to fathom the GomVolume red and green boxes above and below the bars, this is what I think. Hope can unscramble my explanation!

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ZCars

Hey Beth

I've tried to fathom the GomVolume red and green boxes above and below the bars, this is what I think. Hope can unscramble my explanation!

My heartfelt thanks ZCars for the detailed explanation. One item off my "myth" list .. thanks to You!

Beth

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You will notice I have more VPOCs on my pre-market homework (current ones in bold). Just in case price breaks one after another LOL!

Happy & Successful Trading!

Beth

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I have a SMOOTH sail this morning .. haha ..

Goals Accomplished:

1. Follow the Trade Plan (should use present tense here).
2. Preserve Precious Capital - Moved SL to 2 ticks in favor after the first PT was hit. No winning trade to become a losing one LOL!

Emotion: Very calm. Guess the trade started working almost immediately helped .. smile ..

Note: Only checked Perry's set-up for entry and had not used the Gomi one this time.

My Weekly Sim Trade Result as of this morning:

$382.50 MP and Perry's
$447.50 incl the PA impromptu one

No of Green vs Red mornings (13) since I resumed sim-trading on 19 Apr: 12 vs 1 (only 1 Red)

It's time for me to do real trades again .. very very soon! I have mixed feelings on this important move - both excitement and "little fear". Let me dig out my trading hypnosis audio clips and listen to them this weekend!

Appreciate any suggestion to soothe my "baby fear bear" here .. haha ..

Beth

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I did practice my PA labelling on CL last night. Lots of DT and DB and I got lost several times .. sigh .. My confusion:

1. A HH with a subsequent HL, go Long if there's a HH breaks the earlier HH. Instead of a second HH, a LL that goes below the HL and then a HH shows up. Still go Long OR start counting again, ie wait for a HL etc etc??

2. When it's not a HH-HL-HH or LL-LH-LL pattern, I am not certain anymore. That explains why I prefer skipping HL-LH and just focus on HH/LL or DT/DB or the 123 Reversal method. Hey, occasionally I can see the 123 LOL!

How am I going to resolve this dillema?

I will watch Big Mike's CL video again + start reading the Al Brooks book. Appreciate any tips. Thank you.

Beth

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Today's Initial Balance (IB): 1157.50 - 1165.50 (8 points)
Open @1157.50
Today's Value Area (VA) as at 10:35 am: 1163.75 - 1161.25 - 1158.75

According to the 80% Rule strategy, it will try to rotate all the way through the previous day's VA and test the VAH which was 1169.50.

It has a DB @1157.00 as of this moment, my expection as follows:

1. If it breaks 1157.00 with acceptance, it may get close to the next VPOC 1154 area.

2. If it's going to go up again, it has to test its morning VA and IB before 1169.50.

Let's see what may happen.

Beth

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Beth, there is no "right" answer on the price action.

But yes, the HH+HL or the LH+LL are the "clear" ones, the simpler ones, in a strong trend. The ones where there is a LH then all the sudden a HL, etc, this signifies indecision, and you look for a possible trend reversal to be happening.

You should post some charts in the Price Action thread or mark up some of the "blank slate" charts I post daily in there.

Mike

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Big Mike

Beth, there is no "right" answer on the price action.

But yes, the HH+HL or the LH+LL are the "clear" ones, the simpler ones, in a strong trend. The ones where there is a LH then all the sudden a HL, etc, this signifies indecision, and you look for a possible trend reversal to be happening.

You should post some charts in the Price Action thread or mark up some of the "blank slate" charts I post daily in there.

Mike

Thanks Mike for the suggestion and additional guidance. For the undecided ones (not following the clear patterns), I have been using CHOP on them LOL! Well, let me do more studies before posting charts in your Price Action thread. It's quite embarrassing if my chart consists of too many ?? ..

Beth

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wgreenie

It's quite embarrassing if my chart consists of too many ?? ..

Beth

No...

Do you want to be embarrassed by placing losing trades because you aren't clear about a method, or embarrassed because you are new to a method and might make a mistake in snagit on a chart... this is nothing to worry about, decision is easy/clear.

Mike

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