Another Straight Line Analysis Journal
- Thread starter BonScott
- Start date
Tuesday 1st April 2014 NQ100 1 min chart review
1. We opened quickly upwards, until we reached 18.
2. Then price retraced and gave an opportunity for a long about 14.
3. Price then continued upwards, holding the DL until it reached 38.
4. We had a DL break and retracement for a lower high, and an opportunity to short.
5. Price rambled around for the rest of the hour with no big movements.
Today was one of those easy SLA days. One really good entry, and a smooth ride for 20 points.
1. We opened quickly upwards, until we reached 18.
2. Then price retraced and gave an opportunity for a long about 14.
3. Price then continued upwards, holding the DL until it reached 38.
4. We had a DL break and retracement for a lower high, and an opportunity to short.
5. Price rambled around for the rest of the hour with no big movements.
Today was one of those easy SLA days. One really good entry, and a smooth ride for 20 points.
You made 20 in NQ today?
Not at all. Not even Sim trading, just observing in real time.
Days like this are not much use for learning. It is the choppy days that require proper trading ability.
I will not be trading this method or any other, unless I can prove to myself that I can be consistantly profitable whatever price wants to throw at me.
What a coincidence; when I apply my trading plan for CL to the NQ, I get an A1 long entry at 3614.
What a coincidence; when I apply my trading plan for CL to the NQ, I get an A1 long entry at 3614.
Gadzooks!!
What a coincidence; when I apply my trading plan for CL to the NQ, I get an A1 long entry at 3614.
The Hanging Hammer of Babylon obviously coincided with the White Cross of Deception to trigger the long
But seriously, I am not surprised that different methods can trigger the same entries, since the behaviour of buyers and sellers can leave many clues to expert eyes.
Good to see that your CL plan is adaptable to other markets.
Wedensday 2nd April 2014 NQ100 1 min chart review
1. Opened quickly up to 65 and rejected strongly. Moved up for a lower high and fell back into the channel.
2. Returned to below the opening high and rejected making a lower high.
3. Again we returned to the opening highs but couldn't get higher than 68.
4. Demand line broken with retracement for a short opportunity.
5. Stopped at 46, turned upwards to break the support line .
6. Eventually we stopped at 60 and slowed down into a range.
No big easy trends today. A good day for trying out stop losses and scratching.
Managing these kind of days is the key for me, although it was not the most choppy that I have seen.
1. Opened quickly up to 65 and rejected strongly. Moved up for a lower high and fell back into the channel.
2. Returned to below the opening high and rejected making a lower high.
3. Again we returned to the opening highs but couldn't get higher than 68.
4. Demand line broken with retracement for a short opportunity.
5. Stopped at 46, turned upwards to break the support line .
6. Eventually we stopped at 60 and slowed down into a range.
No big easy trends today. A good day for trying out stop losses and scratching.
Managing these kind of days is the key for me, although it was not the most choppy that I have seen.