ES Journal - 2017/2018

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I was mentored in the 70s by chartists, I was taught a down bar regardless of timeframe in an uptrend is just a retracement. In order to consider it to be bearish, trend has to be in a down trend. So all have different definitions, in todays' world we live in more colorful language and ideas are quicker as well, but many have pessimistic tone. Like we are closer to all time highs than mid 2008. If you support your claims of bearish cause of slope of monthly bars, that is long gone in February. Because of the huge range of the down bar, we are having inside bars and forming congestion, normally congestion leads to higher prices whereas tops much less likely. Tops are often blow offs and continue to go down. If a close below huge down bar happened, then I would say we in downtrend and being bearish.
 
mastacoli71 said:
That seems to be your interpretation. Maybe you have backtested this to prove your theory but sorry, a bearish candle is a bearish candle by the books, regardless of time frame or current trend.

Best of luck on your current position.
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The June bar is just a down bar. For example both Feb and Mar were both down bars but not bearish.
 
Handle123 said:
I was mentored in the 70s by chartists, I was taught a down bar regardless of timeframe in an uptrend is just a retracement. In order to consider it to be bearish, trend has to be in a down trend. So all have different definitions, in todays' world we live in more colorful language and ideas are quicker as well, but many have pessimistic tone. Like we are closer to all time highs than mid 2008. If you support your claims of bearish cause of slope of monthly bars, that is long gone in February. Because of the huge range of the down bar, we are having inside bars and forming congestion, normally congestion leads to higher prices whereas tops much less likely. Tops are often blow offs and continue to go down. If a close below huge down bar happened, then I would say we in downtrend and being bearish.
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You go to great lengths to defend a dumb statement... lumping you in with the prior.
Your post is loaded with contradictions .. so I won`t bother humiliating you here... back to the primary topic at hand.. A bearish monthly bar is simply that... Bearish... As Monthly TF`s carry more significance in the big pic over smaller TF`s.

Also, Tops are not "Often blow off tops"... as a matter of fact, they are few & far between. You may want to do some research if you really want to defend that ignorant statement... It appears to me that you took the bait that B was trying to "offer out"... except he didn`t think anyone would be dopey enough to jump to his defense!

Now let`s see the "spin" begin... & twist the original statement at hand.

Here you go....

Why are pin bars formed?

Pin bar pattern are formed when prices are tested and rejected, which is visually depicted by the long wicks the pin bar leaves. While pin bars can form anywhere on the chart, they are considered a strong pattern when pin bars are formed near support and resistance levels. Pin bars can also be commonly formed near a moving average as well as trend lines. Pin bars are valid across all time frames, but of course, a pin bar on a weekly or daily charts take more precedence than pin bars formed on lower time frames.
 
Spooz Top 2 said:
You go to great lengths to defend a dumb statement... lumping you in with the prior.
Your post is loaded with contradictions .. so I won`t bother humiliating you here... back to the primary topic at hand.. A bearish monthly bar is simply that... Bearish... As Monthly TF`s carry more significance in the big pic over smaller TF`s.

Also, Tops are not "Often blow off tops"... as a matter of fact, they are few & far between. You may want to do some research if you really want to defend that ignorant statement... It appears to me that you took the bait that B was trying to "offer out"... except he didn`t think anyone would be dopey enough to jump to his defense!

Now let`s see the "spin" begin... & twist the original statement at hand.

Here you go....

Why are pin bars formed?

Pin bar pattern are formed when prices are tested and rejected, which is visually depicted by the long wicks the pin bar leaves. While pin bars can form anywhere on the chart, they are considered a strong pattern when pin bars are formed near support and resistance levels. Pin bars can also be commonly formed near a moving average as well as trend lines. Pin bars are valid across all time frames, but of course, a pin bar on a weekly or daily charts take more precedence than pin bars formed on lower time frames.
More...

We're you born in a barn and pigs are your parents? You only defense is being rude and no manners. Therefore you don't exist with me.
 
Tap Out --- smart move ... That would be the intelligent move here!

Rude or Overly sensitive ... You have to have thicker skin than that as a trader, man!
 
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