it appears a clear short because u rarely see a recovery after two huge long shadows at the end of two double tops, nevermind all the other bearish indicators..i think i only saw it happenin' when there's a lot of volumes or on news stocks...this is one of the most clear cut short set-up imo, especially if it is on sifs.
Can you be profitable with random entry?
- Thread starter Tremaine
- Start date
it appears a clear short because u rarely see a recovery after two huge long shadows at the end of two double tops, nevermind all the other bearish indicators..i think i only saw it happenin' when there's a lot of volumes or on news stocks...this is one of the most clear cut short set-up imo, especially if it is on sifs.
yes, random entries would do just fine here, hee hee.
jokes asides, i might be biased to open a long pos on both trades but there's a good chance it might go lower beofore takin' off again..if it does at all...of course i might be dead wrong as well, so i think i'd rather prefer to stay on the sidelines and wait for further more clear signals.
u got the rest of those charts by a chance?
jokes asides, i might be biased to open a long pos on both trades but there's a good chance it might go lower beofore takin' off again..if it does at all...of course i might be dead wrong as well, so i think i'd rather prefer to stay on the sidelines and wait for further more clear signals.
u got the rest of those charts by a chance?
Quote from Bitstream:
yes, random entries would do just fine here, hee hee.
jokes asides, i might be biased to open a long pos on both trades but there's a good chance it might go lower beofore takin' off again..if it does at all...of course i might be dead wrong as well, so i think i'd rather prefer to stay on the sidelines and wait for further more clear signals.
u got the rest of those charts by a chance?
Yeah. Heres the result for case 1.
Both are ER2 5 min charts.
The above are some of my favorite setups. Of course no two setups are ever *exactly* the same, but, the scenarios are identical in terms of the psychology involved.
I always question when something is obvious - especially when statistics are used to prove a trading setup. In certain cases, statistics can be used to prove just about anything, but, peoples behaviours tend to be *slightly* more predictable...
I always question when something is obvious - especially when statistics are used to prove a trading setup. In certain cases, statistics can be used to prove just about anything, but, peoples behaviours tend to be *slightly* more predictable...
Quote from Mike805:
The above are some of my favorite setups. Of course no two setups are ever *exactly* the same, but, the scenarios are identical in terms of the psychology involved.
I always question when something is obvious - especially when statistics are used to prove a trading setup. In certain cases, statistics can be used to prove just about anything, but, peoples behaviours tend to be *slightly* more predictable...
of course, but your second set-up is quite diff from the one bearbelly posted, it has a lot of bullish traits and the fact the double top is not exactly in line makes a very good case for higher prices.