AHG - Profitable Strategy for Struggling Traders

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You could do what Einstein said or just take a small stop on the 3BR that formed on the uptrend line, assuming that had failed (it did not, it had major confluence), and then just wait for another sign of uptrend forming without violating the W formation and take the re-entry.

The key is major confluence, the more buy signals at once you see the more demand price will probably get because traders enter for completely different reasons but only the best learn to recognize them all in real time and make an educated guess based on the number of buy signals happening at once not just on, a, "buy" signal.

Odds in your favor, at all times, or don't play the game aka don't take the trade.

Anek
 
Quote from Anekdoten:

You could do what Einstein said or just take a small stop on the 3BR that formed on the uptrend line, assuming that had failed (it did not, i had major confluence), and then just wait for another sign of uptrend forming without violating the W formation and take the re-entry.

The key is major confluence, the more buy signals at once you see the more buyers price will get because traders enter for completely different reasons but only the best learn to recognize them all and make an educated guess based on the number of buy signals happening at once.

Anek
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What about the fact that it started to become a losing trade? The yellow X I marked is a little below the yellow circle (entry). Because the uptrend line is still in tact as well as the other signals, do you just take the little bit of heat, or would you have already locked in some profit at this point?
 
Quote from jack411:

What about the fact that it started to become a losing trade? The yellow X I marked is a little below the yellow circle (entry). Because the uptrend line is still in tact as well as the other signals, do you just take the little bit of heat, or would you have already locked in some profit at this point?
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A buy signal and an entry signal are not the same.

One tells you, its' time to look for longs.

The other one tells you, you can go long here.

Anek
 
ES 60m Inv. H&S Chart...
A clear breakout above neckline is needed for confirmation.

Regards,
Suri

<img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=1748460" border=0>
 

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Quote from Anekdoten:


The key is major confluence, the more buy signals at once you see the more demand price will probably get because traders enter for completely different reasons but only the best learn to recognize them all in real time and make an educated guess based on the number of buy signals happening at once not just on, a, "buy" signal.

Odds in your favor, at all times, or don't play the game aka don't take the trade.

Anek
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Fantastic thread. Would you clarify what do you mean by " major confluence " ?
Thanks.
 
Quote from Hombre:

Fantastic thread. Would you clarify what do you mean by " major confluence " ?
Thanks.
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It just means that there are multiple signals not just one.
 
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