IN THIS THREAD: IronFist learns (the elusive) PRICE ACTION

you should know by now that this is not how the market works. if it were as simple as HH and HL and LL and LH, everybody would be making money.

firgure it out
 
Here is my analysis on EU...8 long entries, but it seems shortly after a long signal was givin, the market would kill buyers and make new lows.


7 short signals here that because we're in a down trend, worked better.

I would be playing both long and short, and keeping stops tight as possible, as I can see in hind sight, Id have about 8 losers and about 7 winners, with 7 trades being really good set ups more than making up for any losses.

is this real money your trading with?...if not try trading with 2 or 3 contracts and scale out when you have profit, then move stops to BE.
 

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Quote from ggoyal:

you should know by now that this is not how the market works. if it were as simple as HH and HL and LL and LH, everybody would be making money.
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So are you saying disregard HH/HL or are you saying keep them but add more filtering criteria ?


Quote from ggoyal:

firgure it out
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Thanks, that's super helpful :D
 
Quote from IronFist:

Down $280 after commission this morning on two trades.

Both times the same thing happened:

HHs and HLs, uptrend. Buy after an HL and upswing is resuming.

Both times, as soon as I bought, price immediately reversed making a LH and then went down to stop me out with a LL.

What is going on today that the HHs, HL, LH, and LLs are all out of wack????

Is something odd going on or was my analysis wrong?
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were EXACTLY is your Entrance and Were EXACTLY was your stop and TP at i can probably tell you..
 
Quote from cashmoney69:

Here is my analysis on EU...8 long entries, but it seems shortly after a long signal was givin, the market would kill buyers and make new lows.


7 short signals here that because we're in a down trend, worked better.

I would be playing both long and short, and keeping stops tight as possible, as I can see in hind sight, Id have about 8 losers and about 7 winners, with 7 trades being really good set ups more than making up for any losses.
More...

what was your profit taking criteria?
 
Quote from nukethewhales31:

were EXACTLY is your Entrance and Were EXACTLY was your stop and TP at i can probably tell you..
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I listed my entries on the image.

Stops for longs are below previous swing lows.

TP is whenever price begins to come back down. I haven't found a way to use fixed TP values that I feel comfortable with. Plus, fixed TP values limit gains.
 
Quote from IronFist:

what was your profit taking criteria?
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Usually a longer term fib level or point where I think PA will hit s/r. But the main thing is to protect what you have, whenever you can even if targets arnt hit.
 
Quote from IronFist:

I listed my entries on the image.

Stops for longs are below previous swing lows.

TP is whenever price begins to come back down. I haven't found a way to use fixed TP values that I feel comfortable with. Plus, fixed TP values limit gains.
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your entrance is your problem you are watching the herd and moving with them not preparing for their move
 
Quote from nukethewhales31:

your entrance is your problem you are watching the herd and moving with them not preparing for their move
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Isn't the other alternative attempting to pick bottoms?

You either wait for confirmation or you anticipate. I don't know another option.
 
Quote from IronFist:

Isn't the other alternative attempting to pick bottoms?

You either wait for confirmation or you anticipate. I don't know another option.
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your chart gives you the answer no your not picking a top or bottom just a better entry
 
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