jan 27 recap....sideways price action, cl stalls on top of open,or and ib identical.Open is in middle of or/ib...which way?..Mas were stacked for short..macd subtle signal at very last minute
On pbs in trend day...look at 50% pbs and 1min20 and 5min20.If entering on 1min 20, be prepared to reenter at 50% or 5min20(look for confluence...When cl explodes into breakout/down mode...1st pb to 1min20 worth a shot.(if adx is agreeing for trend day, give it a shot.2nd pb,for continuing break is 1min20/5min20..Pbs will get deeper obviously..look at 50% pbs with these also
THE FIRST PB AFTER BREAK TO 1min20 at .45…is a short.on aggressive break, look for that 1min 20 (adx ok)
Last edited by bobarian; January 27th, 2014 at 02:31 PM.
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1/28 recap momentum breakout..macd shooting higher...all pbs to 1min20 until failure...HHs and HLs
asian and london markets stairstep higher..ny higher yet
for explosive momentum breaks, when 5min macd is leading, start with 1min20
Last edited by bobarian; January 29th, 2014 at 06:50 AM.
I've decided to take the SMAs off the 5min chart.Ive done this many times.I find that i focus more on lines than on price action.This has been a problem for a long time, and generally what happens is a day will follow a certain sma, and i put it up..We all know this is just a waste of time.Ive been through this so many times, I'm not even sure i won't do it again.Not a good feeling.
Today was like the last straw…Price action was clearly long, with deep pullbacks,shredding sma traders.Well, we will see of i leave them off
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You may want to keep MA. I use it to hold on to a trade as MA crowd wakes up after price has moved up 30-40 ticks.
As MA crowd comes in price gets more fuel. Where MA are not helpful in day trading is to use them as strict guidelines
for support on pullback etc. However, if it's distracting and play games with your thinking get rid of it. I traded first 2 years without anything and just recently started using it to help gauge when MA crowd comes in.
Last edited by mfbreakout; January 31st, 2014 at 08:52 PM.
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I am going to leave the 5min5 sma and the 1min20sma on my 1 min chart...which i dont look at too much.Too many times, i zone in on these lines, and totally miss simple things like HHs in an uptrend, or a pb to the orh in an Aup.This is an issue that will never go away.Until im mature enough to watch the big pic, i will look at the 5min and 15 min, and just try to gauge the edges according to order flow.
feb 3 recap
cl opened, then had some rotational quality….but, we stayed below open , while rotating, and going below pref day val.Original short at .74/dvah/open/head and shoulders..how much more confluence does one need…oh….failed aup too
Last edited by bobarian; February 3rd, 2014 at 02:17 PM.