I kind of saw this as a triangle, so I expected significant momentum breaking out. Doesn't seem to have any what so ever, and the overall trend of the day being obviously down, giving that direction higher probability using this methodology. Might re-evaluate. Original targets were 2102.50 and 2103.50.
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AHG - Profitable Strategy for Struggling Traders
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Quote from sacramento343:
I kind of saw this as a triangle, so I expected significant momentum breaking out. Doesn't seem to have any what so ever, and the overall trend of the day being obviously down, giving that direction higher probability using this methodology. Might re-evaluate. Original targets were 2102.50 and 2103.50.
I hate minute charts but this shows it pretty clear...2100 wasnt the bogey...
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Quote from reduman:
I hate minute charts but this shows it pretty clear...2100 wasnt the bogey...
Thanks. I wasn't sure what the entry criteria were for triangles. I thought it was a break of the the trendline, or even last LH or HL for triangles, but I'm not sure. I believe it is a break of the middle high swing for W's.
Could you elaborate on 2102.75 being an entry signal for what pattern? Thanks.
Stopped out at 2097.00. -3.5 points.
Quote from sacramento343:
Thanks. I wasn't sure what the entry criteria were for triangles. I thought it was a break of the the trendline, or even last LH or HL for triangles, but I'm not sure. I believe it is a break of the middle high swing for W's.
Could you elaborate on 2102.75 being an entry signal for what pattern? Thanks.
Stopped out at 2097.00. -3.5 points.
No pattern at all...there was just a lower probability of a high volume break out before hitting 2102.75. You had the right idea but, there was some overhead resistance from that previous morning pivot.
RED
Quote from reduman:
No pattern at all...there was just a lower probability of a high volume break out before hitting 2102.75. You had the right idea but, there was some overhead resistance from that previous morning pivot.
RED
Hmm, I see. good point. I was planning on taking profits before the PP. Gave myself a 1:1 R/R about, from my entry, stop, target.
Seems to me 2093 area we just passed would have been a good long due to two LL, HH, and confluence of two trendlines converging and a S1 pivot. I didn't get the fill though.
hi everybody.
I was playing with my chart settings and was looking at the attached chart. It is a .5 range chart with horizontal lines placed every five minutes. I am not sure but maybe this could end up to be a tool to identify chop. When the horizontal lines are congested most likely chop zone? Just an idea for consideration.
I was playing with my chart settings and was looking at the attached chart. It is a .5 range chart with horizontal lines placed every five minutes. I am not sure but maybe this could end up to be a tool to identify chop. When the horizontal lines are congested most likely chop zone? Just an idea for consideration.
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