Can't locate it - looked at up to 1 hour bars. So no comment on my part.
How do you Avoid Chop without missing the break (intraday)?
- Thread starter zghorner
- Start date
When this occurs during liquid hours it tends to beat me up pretty bad. Best I can come up with so far is staying out when average volume drops and look to position on the first pop but would appreciate some tips from more seasoned traders. Setting channel lines with alerts? Any of you simply tighten profit targets and fade the wicks while looking to reverse if she breaks against you?
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trading hard.
there are enough signs that bull side was weakening
bar 4 was a bar which broke a bull trend line and reversed up and triggering a buy signal.
the entry bar becoming a doji bar was the first sign that bulls were not overly enthusiastic about buying.
the signal bar 4 itself was weak showing a tail on top, small body and a big tail below showing momentum was down and the reversal was a correction of the move down. this would be clear if you went to a smaller time frame chart.
you then had a bull bar, closing near it's high, but no follow through, so that made two attempts by bulls[ to cause a bull breakout] both which failed.
and that caused a trading range
you had the remaining bars in a inside bars and selling below the inside bars ,after the bulls failure to show interest, is alright even though selling below a trading range is not advisable.
finally the last 3 bars gave a sell signal when market broke below them. they were a IOI pattern.
this is Brooks price action and shows what he says that there is no noise and every single bar has valid reason to be there
I'm running average bars (heikin ashi) my mistake.
if you give me at least 20 bars i could give you a better picture but breakouts from tight trading need to be taken with caution and with complete understanding that they may fail and test the range.When this occurs during liquid hours it tends to beat me up pretty bad. Best I can come up with so far is staying out when average volume drops and look to position on the first pop but would appreciate some tips from more seasoned traders. Setting channel lines with alerts? Any of you simply tighten profit targets and fade the wicks while looking to reverse if she breaks against you?
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trading hard.
you can see enough traders and probably strong bulls were fading the bear bars evidenced by the big wicks at the bottom of bars.
since there was no BO pb my guess is that this is a test and the price action before this was bullish.
either there was a bull spike or there was a bear trend with a bull spike that broke the moving average and then down again, for a test of the bear move low.
Ok. Then I definitely can't comment on pseudo bars. Only the real deal for me.
Price may or may not have traded there in that time/space.
But here is what I did spot on 1 minute chart for that day:-
Tr
Either way that is the move I have decided to capture each day. There are 1-3 setups daily in CL during my selected trading hours...just trying to get better at predicting them.
I think even just predicting movement rather than direction would suffice.
Accurately predicting down while in the trade feels harder than that...at least to me. Bars 8 and 9 look less bearish than 4 and the only thing I can see different about 9 is volume...overall it was making higher highs and higher lows as it crept upwards. Kinda bullish.
Either way that is the move I have decided to capture each day. There are 1-3 setups daily in CL during my selected trading hours...just trying to get better at predicting them.
I think even just predicting movement rather than direction would suffice.
If you just look specifically at candle-bodies, which I've gotten in the habit of over the years, #10 closed below all the prior candles which was very bearish.
Yes, Classic neckline break was the trade. Works until it doesn't though...ya know? I guess you just have to take it and if you get follow through then Great, if not then get out and that's ok too...I just prefer to have a little more cushion as selling the low break live backfires a lot. Could wait for 10 bar to close then enter if next bar breaks that low...
would have worked in this example but often times you're giving up too much meat.
Idk Maybe I'm being a pig, that's possible as well.