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My issue in my trading so far is that the more I learn the more nervous I am of a BO in the opposite direction to me, this nervousness get's me out of too many trades because of the strict risk management controls in TST. Wanted to highlight some of the trades I took in the last two days to get your thoughts
Trade 1 - Last night I wanted to make some profits and I shorted a new high - I felt that there were more shorts up there but at the time of the trade, I was nervous of illiquid markets and the trend just continuing up. I closed out for a 4 pip loss, immediately after the market turned my way
Trade 2 - Sold a DT and got caught in the bull BO, the speed of it took me off guard and I would have scaled in higher. I missed a chance to add on higher and when the market came back, I got out B.E. only to see the market go down like 9 more pips. I just couldn't hold on to the trade even though i knew i should have, at least for a little more down.
Trade 3 - (apologies says 2) - I felt this was a high and really wanted to hold on to this one for a while. The market started hesitating and I got out but couldn't get back in for more down even though I tried to short a lower high, the market never got that high. I was nervous about shorting too low into a trading range.
Anyways, I seem to have an issue with staying in trades and my entries could be improved. I also seem to fear B.O. too much on trading range days. Do you have any tips on how to distinguish a B.O like at 12 pm EST on the 23rd versus a failed B.O. today at 3 pm. I was held back form buying today because I thought the potential for a bear BO was too great
Can you help answer these questions from other members on NexusFi?
Open: DT yest high, failed bull BO. Bear trend from the open. bears want close on or below LOW (1161). Bulls want close above last weeks close (1207) for bull FT bar and MG on weekly. Yest sell signal on daily, reasonable longer term sell if willing to hold overnight positions.
19 strong bear trend, tight bear channel from 1. 3 pushes down but strong selling and very little buying pressure.
20 low 1 short but low in bear channel, near TC. 3rd strong push down, climactic. may lead to two legged correction. 11 mm tgt not far below.
22 2BR for wedge reversal / SCX. ok swing but prob start of bear flag and not strong reversal.
23 poor bull EB, sell signal for failed reversal but questionable if SP will be reached. BTW for test of EMA.
27 SCX, bear TC overshoot. % of 2 legs sideways to up / test of EMA increasing. bulls and bears prob BTC.
28 2BR for SCX and failed bear TC overshoot. should be good for swing up.
29 weak low 1 after SCX and reversal, prob BB.
30 stronger low 1, poor bull FT. prob buyers around 27 close.
31 sell failed to trigger. instead bull BO above. closed just inside bear TL, but EMA magnet.
32 low 2 variant, technically 2 legs up from SCX. but prob test EMA before bear resumes.
33 bulls defending EB stop, but still within bear TC.
35 sec entry for SCX and reversal. bulls lacking strong FT. best bulls prob get is bear flag TR. prob sellers at EMA.
37 outside bull bar, building buying pressure. bulls need strong BO above EMA / 31 with FT before AIL. prob sellers at EMA for 20EMA gap. bulls want test above 24 SCX. bears want TR / end of bear flag with 31.
39 strong bull FT. AIL. poss mm up based on 39 spike. near first bull tgt.
40 EMA gap bar, slight decrease in buying pressure. bears want TR with 23 high.
41 no sign of bears yet, rally continues. 39 MG.
43 bulls starting to TP. bears starting to initiate shorts. prob high of TR forming.
44 42 BTC bulls disappointed, prob scale in and exit around close and form TR. bears likely sell for test of low. poss broader bear channel to develop.
47 bulls scaling in for test of 42.
48 bulls exited, bears selling. failed BO above 42. TR more likely than bull trend. DT BF
49 DT BF /weak high 1 top of bear flag / high of TR. prob SA SI. large low 2 and 2EMA gap bar.
53 bear BO gap but weak bear FT. instead high 2. poss bull trap. bears want test of 27 close / new low. bulls want start of sec leg up and BO above DT.
54 bull EB, not that strong, closed below EMA. bulls likely exit below and wait for test of low.
55 sell setup for failed high 2 / DTPB.
57 bear BO, bulls gave up. poss MG.
62 2BR for failed bull reversal but low in TR and poss wedge test of low after 1 more push down (53,59). bulls will try for sec entry.
63 sec entry, weak.
I am ending the day early but most likely the bears will win on HTF charts; get bear EB on daily and sell signal on weekly. Today was a strong bear trend day and a bear trend from the open which transitioned into a trading range after CC SCX's and a wedge bottom. The day will prob close around the low of the day, poss bear trend resumption into close.
Trades I took
1). bought 28 SCX for swing, 10 pip stop. exited most (80%) at 40 close (SP). exited remainder below 44 when not filled above 43.
2). sold above 49 weak high 1. wide stop, willing to scale in. exited full above 53 high 2 when SP not reached.
3). shorted again below 55 failed high 2. wide stop, willing to scale in. exited 2/3rds 58 close after 59 held remainder with BE stop for new LOD / mm down based on bear flag TR. stopped out on remainder above 69 bull FT with small profit after not exiting earlier.
mastercraft29
central florida
Posts: 192 since Jul 2014
Hey Christian - dont feel bad, its only one week you have plenty of time to turn it around! I too struggled with the combine. I fell back into bad habits and did not turn my trading around for the positive until I ended the combine and went back to trading my own money. (I was trying to trade my accounts and the combine which was too complicated). Anyways, good luck, hope these answers help you along your path.
Using the following two examples from 5_24_17:
1) BB 32 weak low 1 after 31 reversal and ET bottom.
Question - after the 30 bull reversal bar - I was thinking either to put a stop below 30 so sell a higher low. At what point would you have entered in a buy (am i right on this one). As 32 was forming or once it was done at the 5 min mark. Where would the entry have been - below 32 - to have gotten filled on 33?
Im not sure i totally understand, but the best buy was above 31 for the ET reversal, or below 32 weak low 1 after 31 reversal and bear failure. I sold just above the 30 close as 31 was forming thinking the bears were going to get FT. After 31 closed i knew to exit and look for long but failed to do so on both attempts to break past 30 close (bears were trapped and exiting).
2) 44 failed high 2 off bear TL
Question - Where exactly is the high 2 - 42 and 44 - the bull/bear/bull/bear combo? On what bar would you have entered in this situation? When this bar was occurring I was not ready to buy at all
Prices ticked above 41 forming high 1, became outside bear bar. high 2 was above 43 bull signal bar which again failed and formed outside bear bar. I sold below 43 on a stop. It is good you were not looking to buy - i was not either. The bulls were failing to form the low of a TR and the failed low 2 failed and instead turned into the start of a bear channel and lower high / sec leg down from 30 spike.
I guess my questions have more to do with entries - are your numbered bars the entry locations or where you place a limit above or below that numbered bar?
The bar i identify is the bar you would enter above or below with a limit order, or with a stop above / below. The bar identified is the signal bar. So the entry is the following bar.
My issue in my trading so far is that the more I learn the more nervous I am of a BO in the opposite direction to me, this nervousness get's me out of too many trades because of the strict risk management controls in TST. Wanted to highlight some of the trades I took in the last two days to get your thoughts
This is easier said than done, but you cannot allow fear to prevent you from doing what you must do; follow the institutions. I too struggled with this issue for a long time and would stop myself out early, many times just before prices continued in my direction. I have learned to rely on my stop and do not adjust it or exit unless your premise is clearly wrong. You have to learn to remain paitent and relaxed. You are letting your mind control you. Forget about the mind and you will do all things well.
Trade 1 - Last night I wanted to make some profits and I shorted a new high - I felt that there were more shorts up there but at the time of the trade, I was nervous of illiquid markets and the trend just continuing up. I closed out for a 4 pip loss, immediately after the market turned my way
See above, very similar to my issues. Key word here "felt." The markets do not have feelings, neither should you. You cant be emotionally attached to any one trade. Like I said though, easier said than done. Takes a long time to get through the emotional side of trading. Also, you prob shouldn't be trading after hours. The 6E or EURUSD I stop trading after 2-3, only until 3 if FOMC day or a lot of voliatility.
Trade 2 - Sold a DT and got caught in the bull BO, the speed of it took me off guard and I would have scaled in higher. I missed a chance to add on higher and when the market came back, I got out B.E. only to see the market go down like 9 more pips. I just couldn't hold on to the trade even though i knew i should have, at least for a little more down.
Funny, I took that same trade yest. Intended on scaling in higher, failed to scale in above new high and did not expect the bull channel to hold so did not exit breakeven. Held through wedge rally and shorted again below the wedge top (your 3), but exited breakeven just before the huge sell off. All traders make mistakes, most of us daily. The important part is you do not hold these feelings going into the next trade or next day.
Trade 3 - (apologies says 2) - I felt this was a high and really wanted to hold on to this one for a while. The market started hesitating and I got out but couldn't get back in for more down even though I tried to short a lower high, the market never got that high. I was nervous about shorting too low into a trading range.
Same with me. I exited during the 73 bar before it closed (again example of relying on stop and waiting for bar to close!) I too thought it was too risky to sell without a good entry since it was a TR. I was not able to get short again until the pullback after 78. Just from this, I think you are doing well. You are thinking how i do and trading similar to me. Be paitent, it takes time. Dont force entries and look for what i like to call "tipping points" where the edge is a strong traders equation. You are not going to win all, or even most. Just have to accept this and accept that you are not perfect and push yourself forward. Dont worry about loses, if you focus on doing the right thing (follow ins) you will make it all back.
Anyways, I seem to have an issue with staying in trades and my entries could be improved. I also seem to fear B.O. too much on trading range days. Do you have any tips on how to distinguish a B.O like at 12 pm EST on the 23rd versus a failed B.O. today at 3 pm. I was held back form buying today because I thought the potential for a bear BO was too great
On the 23rd the bulls failed to BO above the TR and failed twice to BO above HOD. Therefore bears were likely to atleast get new LOD / attempt to BO below which succeeded. You are right about yest 3PM, i expected atleast a new LOD but the bears failed. I bought back my short above the 95 high 2 higher low. There isnt really an easy way to answer but i do think it is important that you define some parameters such as willing to scale in, if so how wide stop, things like that. Also remember after a failed breakout in one direction of a trading range, the ins are going to try to breakout the opposite direction. If there is a strong reversal from one breakout with building pressure and gaps, expect the breakout to atleast temporarily succeed so dont look to enter until there is a clear reversal. In fact, consider entering with the breakout (or before) for a swing. There was another day this week that had failures in both directions and formed a large ET. On these days you just have to be patient and wait for clear entries and avoid buying high / selling low.
I do want to say I think you are doing well and on the right track. You seem to be thinking and trading very close to how I do. Perhaps I am rubbing off on you, or we both apply Al's information in a similar way. I like to think the first lol jk
rodrigcn
NYC, NY
Posts: 14 since Oct 2016
Thanks Given: 4
Thanks Received: 7
Thanks for the response Josh,
Yeah one thing I struggle with is trade location, for example if I want to get long, do I buy below bar (if so how low), buy at the market, buy above the bar, etc, obviously with context in mind.
I think it's looking at the markets, constantly evaluating the movements, it gives you a good understanding of what's probable and what to take into consideration when deciding on a trade. And the fact that we studied price action so much.
Another thing I need to improve on - deciding to give up on a trade vs scaling because sometimes a buy vacuum test can lead to nice pops in the case of a long.
mastercraft29
central florida
Posts: 192 since Jul 2014
5-30-17
Open: bears failed at bear trend from the open, led to strong bull BO. bulls lacked FT, turned into BCX. big up, big down, big confusion = trading range. prob some form of TR day today. several day bear flag TR and bears have advantage of HTF trend so bear BO slightly more likely.
19 small bear channel. bulls see as 2 leg pullback. bears want test below 9, bulls want test of 9 close. 19 slight parabolic SCX.
20 inside 2BR, high 2. bear channel, prob SA but low in channel, BTW for failure.
21 weak bull EB, sell setup for failed high 2. bulls need FT, prob exit below. 19 poss MG.
26 strong reversal from 2BR and sec entry. bears want broader bear channel
31 bears gave up, 28 MG. bulls holding for test of 9 close.
32 small spike (25) and bull channel. bears want LH and sec leg down, so far weak.
33 gap likely EG. reached 28 tgt. 3 pushes up from 27. poss end of sec leg up. bulls need strong BO above 9 with FT, otherwise TR continues.
35 BCX / buy vacuum test of 9 close. bull MC overshoot. less likely bulls get BO and 35 becomes MG.
36 no bear reversal for BCX. instead high 1 buy, but into HOD so swing only.
37 bull BO to new HOD, 35 mm tgt not far above. climactic and unsustainable buying, but no sign of strong bear reversal yet.
38 bears scaled in above HOD, reached SP. strong 2BR for BCX but wide stop. reasonable to wait for sec entry if develops or flip to AIS. bulls prob exit 37 close.
41 sec entry for BCX and failed bull BO above bear flag TR. bulls tried twice to reach 37 close, exited half way.
43 bear EB and FT with BO gap. likely AIS or soon. bulls see as first touch of EMA but after BCX, strong reversal, and at high of TR.
46 bear BO bulls giving up on bull flag premise. AIS. 37 poss HOD.
47 stronger high 2 buy setup, EMA gap bar. but still weak. poss end of first leg down.
48 outside bear bar, failed high 2. 45 poss MG. same price as bear tgt 27 start of bull channel.
49 lack of bear FT, 2EMA gap bar, sec entry for 47. prob end of first leg down. bulls want test of high, bears want LH MTR.
53 outside bull bar, failed failure. failed high 2 failed. both sides fighting for control. upper third of TR.
56 4 strong bull bars, filled bear BO gap. prob test of TR high and sec leg down soon but bears prob need sec entry for reversal.
57 triggered first entry short, bull SB, after 53 outside bull bar, weak. better to sell above for weak high 1 top of TR but need to be willing to scale in.
58 strong bear EB. poss start of sec leg down/ bear channel. leg 1 = leg 2 tgt start of bull channel.
61 converging triangle, both sides fighting for channel. BOM. bears have small advantage since upper third of TR and after failed BO above high.
62 high 2 for bull channel. but bulls already got EMA gap and test of high. buying into EMA, no bull closes above EMA in past 5 bars. poss bull trap.
63 outside bear bar, failed high 2. bulls should give up. bears want test of 27.
72 small TR at bear TC. bulls have been able to defend 28 gap. bears not willing to sell below small range, prob waiting to sell higher.
75 building buying pressure, nearing bear TL. poss repeat to 56 rally, 66-72 TR similar price action to 47-52.
80 outside bull bar for high 1 / variant of high 2 at top of bear flag and into bear TL. bull trap more likely than bull SP.
83 2BR for large low 2 / wedge bear flag off bear TL. Also a DT BF (61), 2EMA gap bar, and failed high 1.
Today was a large trading range day with swings and two legged moves in both directions.
Best Swing Trades
24 2BR / sec entry for 2 leg pullback and HL.
41 sec entry for BCX and reversal / failed BO above HOD
Best Scalps
27 failed low 2
40 weak high 1 after BCX and reversal
59 weak high 1 and BOPBS of bear flag (start of sec leg down)
62 failed high 2
Other more aggressive scalps; STC 43 bear FT. BB 52 weak low 1. SA 62. BB 69 weak low 2.
Today was a recovery day for me after taking a large loss early this morning, which should have been avoided. After recovering around half of my losses I took another poor entry which resulted in a loss and a losing day.
1).sold failed high 2 for SP, wide stop willing to scale in. left room, came back during 26. did not get strong entry for scale in, did not exit with small loss when i should have. held on to losing premise too long and stopped out with 20 pip loss.
2). sold 41 sec entry for BCX for swing down. exited above 49 with small profit when unable to exit with SP on 2/3rds position.
3). sold 62 failed high 2 for SP / test of 27 start of bull channel. exited above 71 when unable to get filled below small TR.
4). sold below 83 for test of 27. wide stop willing to scale in. tried to sell below 94 to exit around BE on entire pos, unable to get filled. starting to question Gain, have had several weird issues lately. exited above 94 failed wedge reversal.
mastercraft29
central florida
Posts: 192 since Jul 2014
5-31-17
Open; bull gap above HOY. failed bull trend from the open, instead failed bull BO and AIS. bulls want BOPB to yest high. bears want to fill overnight gap, test start of yest bull channel, and fill yest 25 bull BO gap.
20 outside bull bar, bulls bought first close below EMA. DB with 1 and wedge bull flag. but still within bear MC down from 9.
21 weak low 1 after 20 reversal, bottom of bull flag. prob BB for BOPBL
22 sec entry for 20, reasonable swing buy.
23 good bull EB, created gap. bulls want to fill 11 bear BO gap and test 8 close. bears want to form LH and sec leg down.
24 bull FT. weak bear attempt at LH. middle of opening range.
25 high 1 buy setup / failed low 2. but upper third of TR, bulls prob take profits soon, risky.
28 bulls got test of 8 close, exited. bulls have switched to scalping, TR more likely than bull trend. prob SA HOD and TR. low 2 sell setup, DT 10. but weak compared to bull leg. BTW for more selling pressure but ok swing short.
29 strong bear EB, reversed prior 5 closes, filled 23 gap. building selling pressure around HOD.
32 bears lacking strong FT. both sides fighting for sec legs. middle of TR, 50/50%.
33 bulls got sec leg, BO to new HOD. strongest bull bar since open, prob BCX and failed BO soon. opening range poss FF.
34 BCX to mm tgt based on opening range. strongest bull bar / pair of bull bars. bull TC overshoot from yest broad bull channel. strong bulls and bears likely STC.
35 sell setup for BCX and bull TC overshoot. good swing short.
36 good bear EB. first bear tgt below 32 BCX, next test of bull TL / mm down.
37 poor bear FT, but sellers above 35. sec attempt by bulls to BO bull TC.
38 2BR, sec entry for BCX and failed bull TC overshoot. stronger sell but increased risk. 2 legs sideways to down likely.
39 bear EB, need FT for AIS.
40 poor bear FT, instead high 2 buy for failed reversal. but after BCX so risky, swing only. poss bull trap.
41 high 2 failed to trigger. weaker buy setup, likely SA.
43 outside bear bar, bulls gave up. AIS. 43 poss MG, tgt below bottom of BCX. sec leg down likely. 38 poss HOD.
48 bull BO to new HOD after break of bull TL. second BCX. poss MTR soon.
49 ET (35,36,37,45,49). but no strong reversal. instead bull FT and high 1, but into bull TC.
51 MDT, sec entry for ET, sec BCX and failed bull TC overshoot.
53 bear FT, first bear tgt below 48 BCX, next 20 start of bull channel. weak close, reversed off bull TL but unlikely to hold.
57 high 2 off bull TL but after break and new high, sec BCX, poss bull trap.
58 sell setup for failed high 2 and low 2. bulls should exit below. if instead wedge bull flag forms, bears should exit shorts.
63 small TR, failed failures. both sides fighting for FT. poss end of first leg and mm down based on 51 to middle of TR.
67 reached first bear tgt. 67 poss MG, tgt start of bull channel.
74 2 legged bull test of high after TL break. prob get wedge test after 72 strong outside bull bar.
Today was a bull trend day (spike and bull channel), but also resembles a large trading range. If the bears get a strong reversal down prices will prob close around the start of the bull channel and form a large TR.
Best Swing Trades
20 wedge bull flag / DB BF with 1 at EMA
35/38 sell setup for BCX and bull TC overshoot from yest bull channel. Only reached SP but still good trades, should be taken as swings but OK to exit with less after reversal.
45 2BR / high 2 off bull TL.
51 sec entry for ET and sec BCX. Also bull TC overshoot.
Best Scalps
21 weak low 1 after 20 reversal and bottom of bull flag.
36 weak high 1 after BCX and reversal
42 weak high 1 (or 2) after BCX and reversal
Other more aggressive scalps; SA 49, STC 53, SA 55
Trades I took
1). 22 weak low 1. WSSI. Exited 1 pip early during 27 when prices tried twice to fill PT but did not
2). 35 sell for swing, 10 pip stop. Tried to exit below 47 with small profit, prices did not reach. Unable to exit BE during 48. Lost connection to Gain when tightening stop, did not lose internet connection. (really starting to get suspicious of Gain, same thing happened when trying to exit next trade). Restarted NT and stopped out during 48 with 10 pip loss.
3). 51 sell for swing, 10 pip stop. exited above 69 when could not get filled at SP after 69 reversal.
Not a great day, only small profit. But better than a losing day!
mastercraft29
central florida
Posts: 192 since Jul 2014
6-1-17
Open: gap down to bottom of yest TR. bears got test of yest bull channel, bulls failed to form TR. bear trend from the open, no bull SP. bears need strong FT selling, otherwise some form of TR day more likely.
19 bulls want 17 SCX and early LOD. bears want channel to follow. bears scaling in for test of 17 close. 16 poss MG if not EG.
21 bulls lacking strong FT. 18 rally more likely bear flag than reversal but will likely test EMA. poss bear channel soon. bears need to keep 15/16 gap open.
22 outside bull bar, small sec leg up. bulls need FT and breakout back into yest TR. bears want BOPB
23 bull FT, within MF of EMA.
24 low 2 BOPBS to yest low, ok swing short.
25 outside bull bar, first close above EMA. trapped 24 bears, but bulls need FT and BO above 15.
26 wedge bear flag at EMA, stronger swing short. bulls want bear flag failure and mm up.
27 another outside bull bar, bears not willing to sell below bars. instead bulls buying below, small bull channel. closed at poss bear TL, next bar important.
28 bulls lacked FT, EMA gap bar and reversal off bear TL. bears likely give up above if another failure.
29 good bear EB. prob end of bear flag, start of test of low.
30 bear FT bar closing on low. prob SA for BOPB of bear flag.
32 bull BO and FT bar. but not going far, signs of selling above 28. bears defending 15 gap.
34 bears giving up on bear flag premise. 31 poss MG.
37 bull BO to new HOD, test middle of yest TR. climactic, weak close. failed bull TC overshoot.
39 several overlapping bars, building selling pressure. bulls no longer getting CC bull bars. poss TR with HOD. still within tight bull channel.
42 outside bear bar, bears becoming more aggressive. first break of bull MC. prob large TR developing.
44 weak low 1 / high 2 buy setup. bulls scaling in for test of 37 close. but middle of TR 50/50. bulls want HL and broader bull channel.
45 ii high 2 buy, stronger buy setup. best taken as a swing since high in potential TR.
47 good bull EB and FT, bulls got test of 37. poss buy vacuum test of TR high.
48 bulls exiting at 37 close. TR premise remains valid. DT / sec entry 38.
49 strong bear EB, need FT BO below 43 for AIS.
51 bear FT, likely AIS for test of low. weak high 1 reversal after AI flip. prob SA.
54 outside bear bar, variant of failed high 2.
64 2BR high 2 higher low with bull FT. poss broad bull channel from 18.
65 outside bear bar, low 2. reversed bull closes.
69 bears holding for test of 17 close.
Today was a large trading range day, but Trump is speaking at 3PM so it may lead to a strong breakout and double the daily range. After an early SCX prices rallied to a new HOD in two legs where the high of a trading range formed and led to a spike and bear channel.
Best Swing Trades (only 1 strong one, TR day, mostly scalps).
48 DT / sec entry for high of TR and failed bull BO to new HOD.
Best Scalps
BB 21 weak low 1 after SCX and reversal
BB 33 weak bear reversal (bull bar)
SA 51 weak high 1 after AI flip or below 53 failed high 2
Other more aggressive scalps; SA 41, STC 47
Trades I took
1) SA 30 expecting BOPB of bear flag, WSSI. exited above 34 with small loss when premise invalidated.
2) SA 51 for SP, WSSI. exited during 62 when SP not filled and bears exited at 58 close. brought me back to BE for day
3) BA 77 failed low 2 bottom of TR for SP / test of 54 start of bear channel, WSSI. currently holding, will exit small loss / BE if possible if 87 reversal fails.
mastercraft29
central florida
Posts: 192 since Jul 2014
6-2-17
Open: last week sell signal on weekly chart, so far BB. bulls want failed reversal and close on HOW, bears want opposite. both relatively far away. TR open, failed bear trend, strong bull reversal from test of yest low. heavy two sided trading, BLSHS. prob some form of TR day.
18 failed low 1, middle of yest range. end of first leg up, bulls prob get sec leg test of yest high.
19 huge bull BO yest TR, filled yest gap open. closed on high, BTC. poss start of spike and bull channel.
20 bull FT, BTC. now outside bull bar on weekly.
21 BTC continuing, mm based on spike growing. slight increase in buying compared to 20. poss PB soon but no sign of strong reversal.
22 end of BTC. weak reversal, likely BB scaling in lower. but may lead to 2 legs down before channel begins.
25 21 bulls scaled in, exited BE on entire pos. strong outside bear bar, but sec leg down. poss start of bull channel and test of sup (wed high / high of TR).
26 high 2/ DBBF 20. swing buy.
27 weak bull EB, bears want failed high 2. more likely BB 27 for weak low 1. bulls need FT.
28 bull FT. holding for test of 21 / new high.
30 failed bear reversal attempt, instead wedge bull flag. trapped bears. test of 21 likely.
31 weak low 2 lower high. prob another bear trap. signs of bulls exiting BE, so far unable to reach 21.
32 failed low 2 in bull trend, acceptable scalp. bears prob wait for new high before selling. channel phase beg.
33 bulls extied 21 close.
50 bulls switched to scalping. TR, BLSHS. building selling pressure. bears need BO with FT below 26 for AIS. otherwise bull flag TR.
Today was a spike and channel bull trend day. Although the channel was weak and acted more as a trading range. The bulls will likely get a close on or around the high of the week (today's high).
Sorry for the lack of analysis today. I spent most of my day with dealing with NT / Gain issues. Any profitable traders I highly recommend staying away from Gain based on my experiences. You can read about them here
After reading reviews on Gain (Forex.com) about traders having issues I wrote it off as disgruntled traders who lost money. I went ahead and began using them since i had no other choice if i want to use Ninja Trader. However, based on my experiences, …
Best Swing Trades
26 high 2 pullback and DBBF after strong bull spike (start of bull channel).
44 sec entry after first close below EMA
Best Scalps
30 sec entry for 26 and failed bear reversal at bottom of bull flag
46 weak low 1 after strong bull reversal
57 failed high 2 into bull TC and sec entry short at top of TR
Other more aggressive scalps; 19 BTC, 20 BTC, 69 BB, 70 BTC
Trades I took
19 BTC for SP, WSSI
26 high 2 for swing, 10 pip stop. exited during 33 with minuscule profit after 21 bulls exited. Gain somehow doubled my position short when i exited with stop, exited ATM as soon as i realized, small loss of spread on 2x the position size i trade, really aggravating!
57 SP, WSSI, exited above 60 when SP not reached on 60 (and on the phone with NT)
71 weak low 1 bottom of BF. SP, WSSI. exited BE, below low 2. low volume, small TR. prob sideways into close.
mastercraft29
central florida
Posts: 192 since Jul 2014
6-5-17
Open: bear gap down, bear BO of yest bull channel / TR. bears want test below yest bull BO. bulls want 50% retracement (around todays open) and start of broader bull channel.
20 poor bear FT from failed high 2 / sec outside bear bar. HL, DB PB. ok swing buy but still AIS. reversal off poss bull TL from 1. both sides scalping, prob TR forming.
21 sell setup for failed bull reversal, stop entry middle of TR. 50/50, swing only or wait. poss BB around 19 close for test of EMA / sec entry 20.
22 sec entry 20, bull TL holding. signs of 19 bears exiting (tail). but low % buy, 50% or less. swing only.
23 bull TL failed. bulls prob wait for new LOD. TR unless strong bear BO below 1.
25 parabolic wedge and SCX, weak BO below 1. bulls buying new low SI, bears taking profits.
28 strong bull rally from bottom of TR / failed bear BO. AIL. sec leg up likely. poss LOD, 28 mm.
29 SA HOD, bear attempt at ET / failed bull BO / TR.
30 bears failed, bull BO. 30 poss MG.
31 bull FT, BTC / BB weak reversal.
32 stronger reversal, variant of low 2, large wedge bear flag, EMA gap bar, and ET. 31 bulls disappointed but will likely SI lower.
35 good bear EB and FT, back into opening range.
39 bulls scaling in for test of 31, signs of exiting BE. high 2, high in TR.
45 both sides fighting for FT. LOM.
48 bulls got test of 31, exited. high of TR / weak bear channel from 32. BLSHS.
50 sec entry short top of TR / failed bull BO
51 bad bear EB, but high 1 top of TR.
52 sec entry for 50 / DT PB and failed high 1 top of TR. stop entry middle of TR, swing only.
54 bears defending broad bear TL copied from lows. sell setup for wedge reversal. bears prob give up if fails.
57 continued failures in both directions. BOM.
58 first bear EB, need FT. bulls will likely give up on bull BO / channel premise.
59 doji = indecision. but more likely AIS and bear channel.
More Gain / NinjaTrader issues today. Sorry for lack of analysis. Hopefully fixed by tomorrow.
Rrrracer
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