AHG - Profitable Strategy for Struggling Traders
- Thread starter Anekdoten
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I identified the same entry point - where was your stop?
See you tonight...maybe a reversal if CSCO crushes? Thanks again for your help Anek...
PS, I need you to help me run with the trend...I'm missing out on 15+ points.
I am a rookie (paper trading for 5 months). I thought I would add something that I have seen many times and I don't think it has been specifically addressed in this thread. I think these may be common knowledge, but I wanted to post a chart of todays action to show what I mean.
It has to do with breakouts of M tops, W bottoms, and trendline breaks. I noticed that after the break of a trendline or the middle swing high of a W bottom or the middle swing low of a M top, price more often than not comes back to retest that trendline or swing.
I mention this because it could be a better risk/reward trade if this retest is taken instead of the initial breakout and/or if you miss the initial breakout, you can get in on the retrace. This should go along with AHG. I am not saying you will neccessarily get a better reward, but the risk is lower IMO because you can have a tighter stop.
Here is a chart of today's action.
It has to do with breakouts of M tops, W bottoms, and trendline breaks. I noticed that after the break of a trendline or the middle swing high of a W bottom or the middle swing low of a M top, price more often than not comes back to retest that trendline or swing.
I mention this because it could be a better risk/reward trade if this retest is taken instead of the initial breakout and/or if you miss the initial breakout, you can get in on the retrace. This should go along with AHG. I am not saying you will neccessarily get a better reward, but the risk is lower IMO because you can have a tighter stop.
Here is a chart of today's action.
Anek,
ES broker major support of 1496 today. What do you think about ES multiday chart?
Thanks
DT
ES broker major support of 1496 today. What do you think about ES multiday chart?
Thanks
DT
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