Do you tend to wait for counter trend movements to enter a position?
- Thread starter zghorner
- Start date
you posted it. And i posted that picture to answer this question you keep asking: Can you spot any situations on any of the chart images on that page where price was trending, made a pullback to resistance or support, showed a hammer or other very simple candlestick at res or sup?
Im afraid we just aren't really on the same page. In my OP i'm not talking about retracements to support or resistance.
Can’t remember the exact test duration, but probably from 2021 and then 10 or 5 years back. I tested x in range -1% to let’s say -30%, in steps of 1%. But entering just each week was best (simple option combinations as ‘investment vehicles’ for long entry proxies).
So best x was 0%
In your example zg, which way is the trend?
Down.
What is price reacting to?
Support.
Do any candlesticks form at support, yes and it flows into a Double bottom that doesn't continue the downtrend.
Please explain how that answers the question "Do you wait for retracements to jump on a trend?"
WTF zg?
Are you serous right now?
Are you smokin' the drapes over there, zg. lol
do you like to wait for a
retracement
before entering your position
(SHORT)?
So in your chart that you drug back, how does that even relate to entering short in a down trend at all?
At best that's a double bottom Reversal if it worked, from a d o w n t r e nd into a L O N G entry at close above the peak if playing according to Hoyle.
What page are you on, the funny page? lol
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you are spazzing out over a simple misunderstanding. I posted that chart not as evidence to support or oppose the question in my OP. I posted it to say yes, this is obvious support and those hammers are definitely a bullish indicator making one think a reversal will occur...which i thought you were asking to see if I was able to understand basic TA.
OP is asking about entering positions on small retracements in a trend...not contacting major support/resistance areas lol. Its really kind of a stupid question the more I think about it as I probably just need to back test various retracement levels...I feel like this method would give a low win rate but higher profit ratio. idk...
If I see a rapid movement towards the direction I want to enter with obvious signs of pressure, I prefer to wait for retracement to get better prices. If you trade momentum anomaly then of course by waiting you risk to lose opportunity.
Filtering out losers (drawdowns) historically by using stops as much as possible, does more for the bottom line than catching all winners.
%%
Exactly\
certain exceptions apply. SH[short spy ETFs] is still nice profit YTD, main trend .
{But SPY is still closing above 50dma first 2 hours, Mon, + i dont like counter trends much this year.
So long SPY, counter trend, looks better than SPXU main trend, early MON anyway}
SCHW price improvement strangely helped some how today-- i never got all the SPXU i wanted early today\ good loss cut]
Left out key word twice.
Filtering out losers (drawdowns) historically by using stops as much as possible, does more for the bottom line than catching all winners.
Filtering all BIG losers and catching all BIG winners.