Copy that chart.., number each candle - then repost the numbered chart (so we're trackin and talking the exact same)
I'll run with it from there
RN
Does trendline work?
- Thread starter GloriaBrown
- Start date
Copy that chart.., number each candle - then repost the numbered chart (so we're trackin and talking the exact same)
I'll run with it from there
RN
Trust your trading guesses are better than what you non-trading are
likely not
RN
B1 – indecision
B2 same
B3 selling with pressure
B4 more selling but with slight buying pressure coming in
B5 selling no real pressure
B6 indecision with slightly more buying pressure
B7 buying with pressure – made a HL / H H
B8 more buying – another HL and HH
B9 indecision
B10 slightly more buying
B11 HH – that was rejected / formed equal bottom with bar 10 – H never exceeded bar 3
B12 selling
B13 more selling
B14 more selling
B 12 – 14 Can argue about how much pressure present.., or not – price moved down
B15 buying – with pressure – HL / HH – bar exceeded entire bar 14
Blue trend line started
One could ask why not start similar on bars 6 and 7 – you could and maybe get away with a scalp (scalp being a very quick in and out / moving SL past entry…, then keep moving up till taken out )…, but this line failed at bar 13
B16 buying - HL
B17 indecision
B18 the mighty fuck you bar – purpose of this – take out competition (long stops) / buy more to sell at higher price
B19 got nothing on that one
Note here unlike the first potential TL I mentioned (bar 6 and 7) – this one has been penetrated.., but not actually broken (no bar closes outside of TL)
Ever heard of a false breakout of a range – same concept just in a trend
B20 HL / HH… going all way back to bar 14 for the HL…, and bar 12 for the HH – it also crept and creeping away from the blue TL – a sign of buying pressure (momo) stepping in
B21 HL…, and even though it LH that 20 – it HH than all bars back to bar 11
B22 if long by now – money / if short - fucked
B23 more money – but pressure waning
B24 equal L / LH – be exiting any longs
B25 very small bar – be interesting to see the associated volume
B26 equal H to 24 - price ain’t moving up – where it was on bar 22 & 23
B27 price still not moving up
28 The close – exiting positions not wanting to hold over long weekend
Now.., what really missing…, is seeing this develop in real time - getting a sense / feel / read – regarding the battle taking place…, (the back and forth between buying and selling – and exactly how each bar was formed)
RN
B2 same
B3 selling with pressure
B4 more selling but with slight buying pressure coming in
B5 selling no real pressure
B6 indecision with slightly more buying pressure
B7 buying with pressure – made a HL / H H
B8 more buying – another HL and HH
B9 indecision
B10 slightly more buying
B11 HH – that was rejected / formed equal bottom with bar 10 – H never exceeded bar 3
B12 selling
B13 more selling
B14 more selling
B 12 – 14 Can argue about how much pressure present.., or not – price moved down
B15 buying – with pressure – HL / HH – bar exceeded entire bar 14
Blue trend line started
One could ask why not start similar on bars 6 and 7 – you could and maybe get away with a scalp (scalp being a very quick in and out / moving SL past entry…, then keep moving up till taken out )…, but this line failed at bar 13
B16 buying - HL
B17 indecision
B18 the mighty fuck you bar – purpose of this – take out competition (long stops) / buy more to sell at higher price
B19 got nothing on that one
Note here unlike the first potential TL I mentioned (bar 6 and 7) – this one has been penetrated.., but not actually broken (no bar closes outside of TL)
Ever heard of a false breakout of a range – same concept just in a trend
B20 HL / HH… going all way back to bar 14 for the HL…, and bar 12 for the HH – it also crept and creeping away from the blue TL – a sign of buying pressure (momo) stepping in
B21 HL…, and even though it LH that 20 – it HH than all bars back to bar 11
B22 if long by now – money / if short - fucked
B23 more money – but pressure waning
B24 equal L / LH – be exiting any longs
B25 very small bar – be interesting to see the associated volume
B26 equal H to 24 - price ain’t moving up – where it was on bar 22 & 23
B27 price still not moving up
28 The close – exiting positions not wanting to hold over long weekend
Now.., what really missing…, is seeing this develop in real time - getting a sense / feel / read – regarding the battle taking place…, (the back and forth between buying and selling – and exactly how each bar was formed)
RN
Thank you for taking the time to go thru that.
I agree it would be nice to see the bars form.
My problem may be that I'm color blind, but I only see red bars.
B22 looks like it gapped open then closed near the low, B23 same thing.
B18; Still not convinced this low shouldn't be considered. It's where buying came back in after a sharp drop. I'd like to know the volume at that price. That kind of a bar is a signal bar for me.
I couldn't trade with the little information that is on that chart.
Thanks again; I appreciate you taking the time!!
There are also green
Red and green colors- for most are psychologically influencing
Muted / subdued colors are better IMO
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I actually use bars colored the exact same - (and for the detractors - I'm not saying one is better than another..., just what I'm accustom to)
RN
I use black and white.
Again, there's some great story tellers and artists here. Pity one can't trade the past...
Here's a suggestion.
I'll post my day-by-day performance for September on the 1st of October.
You'll do the same.
Then we'll see who's best at 'guessing'.
I never made any claims and I trade part-time, so I'm sure you'll have me easily beat.
Here's a suggestion.
I'll post my day-by-day performance for September on the 1st of October.
You'll do the same.
Then we'll see who's best at 'guessing'.
I never made any claims and I trade part-time, so I'm sure you'll have me easily beat.