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Full measured move off the 50% retracement folks...do the work and avoid the drama and trading can be very good to you.

We are in a multi day trading range, yesterday opened mid-range. Today's open had low of range support. Once it held, bulls took over.

Whatever works for you sport.

I've found strict fib zones on retracements miss a lot of good trades so I use .33, .66 but I do use fib extension targets.

It was indeed a bear flag and could have been taken and would have required a second entry. The caveat is that it was far from the MA but even taking the loss on that entry, the following one more than made up for it.

In current volatility I like to take the lesser of 2x initial risk or 10 points for target 1 and then target fib extension levels, holding a runner or two in anticipation of a full measured move. For a one lot trader, 2xIR is hit more often than not on successful trades. Any trade plan should of...

See my chart posted above, Bar number 6 was a signal bar in the retrace zone of the opening range, the takeout of the low of that bear bar was the short. Bar #5 tested the open, bar #6 probed that level and failed. The close below the open print was bearish in itself as it is an important pivot.

The first two bars of the RTH open. It looks more like a conventional double top if you dial down the time frame. Similarly an inside bar in a trend can be viewed as an "inferred" flag as it can be seen as a conventional pullback flag on a lower TF. You can learn to see these things without...

Price put in a micro double top on the 5 minute ES this morning and then corrected into a retrace zone triggering a short. Any subsequent bear bar close could have been shorted but the next zone pullback entry occurred after another corrective leg. Both of the zone trades were better entries and...

While shorting closes in a strong down trend is valid, it's deep into the move by that point. I would wait for a pullback if not already short by that point. The black dot would be the most conservative stop but IMO too generous given your proposed entry. And yes price is dynamic and context is...

5% is an arbitrary number. Stops should be placed at such points where the premise for the trade is no longer valid. Typically that will be a support/resistance levels. What constitutes S and R needs to be determined by you through a process of learning price behavior and testing.

:D

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In short, anything can happen. Fortunately by understanding price behavior, we can determine what is more likely to happen given defined technical conditions.

Welcome, your membership has been approved. BTW, think she does squats? :D

LOL

What's the going rate for opium these days ? :D

Yes, if things were always exact how easy trading would be :D A trader has to determine if a setup rhymes closely enough to warrant an entry. A setup does not have to be perfect (fortunately) but a (day) trader has to develop the real time cognition to see a viable setup within the context in...

Then I am not sure what you are referring to, simply showing what I do and where corrections often occur at extension levels.