Quote from TIKITRADER:
ok Jack,
review this trade for me please..
It was overnight and I just closed as it appeared this leg down was done for now, and I may be wrong so any advice appreciated.
You may want to review the sub sequences after point 2.
On volume, point 3 arrived on bar 2 as a second showing of one side of the thrid move of the trading trend. The subfractal has two sides that show in volume.
The subfractal completes (with failure to traverse in price) in volume. Until it does you re in "continuation and NOT in the set of End Effects. This is a very clear situation
baro san has stated a lot of times about the nature of OB's.
If the first point of an OB shows a completion of a subfractal, then OB or not, the sub is done and a clear volume test is there to be had.
Then during that bar, the coming OB, and after its trending extreme you are in business doing a kind of trade that is designed to keep you IN the market and on the correct side of the market. A reversal.
This bar, bar 4 the OB moved in three parts. Its volatility is as good as the trend volatility.
In "working" to trade well, the first thing is using a complete systemmic approach and letting the cards fall where they may. AND you can milk turns if you feel like it.
You had four bars after point 3, about 6 oints of refinement then two more points during getting to the second point of what became an OB. 8 points all together and htis is 25% of margin for doubling.
I beleive this kind of awaremess is what makes a trder turn to shifting from one trading fractal to a fster trading fractal. This does NOT mean changing the 5 minute display.
I thought I would give a shot at thoughtful discussion with hypo. It is not in the crds, however.
It is very difficult to switch from entry/exit trading to hold and reverse. BUT it is the way to build your mind more and more.
So thanks for your print.
What is represents is a trade that made a lot and I am only polishing here a little bit to turn the gain inot nothergain that definitely would double the capital in an account.