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LITHA with a stop above the danger point. If the reversal doesn't hit your target you lose.

how bout that whoop. You pegged the rev. Gotta give price room to RET or even retest the level. Get your stop beyond the danger point.

2 charts, 2 patterns, somewhat similar, one works for a breakout, one doesn't. That's how it goes. Can you differentiate these two more specifically? If not then you're 50/50. What's risked and what's gained in each? Nothing will be 100%. If you analyze everything in the ways you are...

Are you playing the extremes? Realistically that's where the tightest stops can be placed. Over time your initial long has more of a chance of being stopped out then playing the extreme.

anyone buying above was caught

Since 40/41 is the extreme. To me a spike into the level with no follow thru is reversal behavior. Catch the longs etc.

I don't know if you were long around 70 today. I was and if you were did you contemplate reversing the position around 80ish at 9:38? I'm working on SAR criteria but it's a bit tricky. Any thoughts on that? My shorts were under 62.75. I figured I would ask this here instead of the other...

I tell ya. Sometimes I look at all this stuff and I think can it just be as simple as buying 70 each time with a 3 pt stop? You can do that 4 times before getting stopped out and then if you "re-bought" a 5th time it recoups that loss and then some. buy 70 once MFE 20, buy 70 again MFE 12.25...

Isn't the slope of a channel limit dynamic since it changes over time? Don't the limits of the range tell us where we are in terms of current market activity? As in where traders are and are not trading?

So you're saying price action at overbought/oversold areas shown by your indicator? How is that different than price action at overbought/oversold areas shown by channel/range limits?

As per the SLA rules it would be a one point buy stop if I remember correctly.

Niceeee. Glad you jumped in that. For me what's important there is price didn't want to go back in the range btw 34-13. Essentially a bopb type trade. Price tried going back into the range once and there was nothing there. Tried again ( your LH) failed again. Good stuff.

Old school TL stuff right there lol.

if anyone is trading the SLA a bit more mechanically this is what I came up with regarding entries.

This is where I wish the TQ was a bit less distracting plus I don't like the 5s display. Simple plan 1. Test of extreme (PDH/PDL or other level) 2. Price stalls at level 3. TQ divergence 4. LITHA 5. Exit opposite extreme 2pt risk 12pt reward.

Yup. That's where I'm at now. Thanks.

Therein lies my problem of sorts. That flexibility and understanding that I have to change with the market. I just don't know exactly how to do that yet and that's what's holding me back from going live. My sim account is positive "enough". But my comfort/understanding of the market and it's...

Hi ho hi ho Back to lab I go. Thanks!

I was talking about a reversal off 86.

I hear ya. I'm trying to get more tactical with all of this and some of what you say I've thought about also. If the level starts holding take the reversal if it breaks instead then take that. If both don't work watch the retest. Take that if it holds if not then take the false breakout w the...