Will do. The pattern is i get gunshy and weak handed early on in a move, and then overly aggressive when its too late and opportunity has dried up. Need to find a way to show up with a bit more agression in the morning.
Journal from a lurker who just made his first post on ET
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Will do. The pattern is i get gunshy and weak handed early on in a move, and then overly aggressive when its too late and opportunity has dried up. Need to find a way to show up with a bit more agression in the morning.
What draws those faintly lighter horizontal bands entering from left side rightward on this 9/6/2022 chart?
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To me those look like S/R bands from long ago that were never cleared off the chart. Notice the ones way down below your pitchfork, and even below that.
That's my guess. I have an S/R band indicator like that that you have to set an expiration for, or they will persist forever going forward. Makes for a very messy chart.
Here's my chart from yesterday, another losing day. But once again I did what I said I would do and limited my losses to $100. I figured they would run price up and take stops from people trying to pick the top and go short after that early uptrend which they did eventually, I was just too early and didn't let the correction play out first.
Its a "supply and demand zone" indicator. I just have it set to a 15 minute chart, and use it as a visual reminder of where swing highs and lows are on higher time frames.
I trade differently from many traders from ET.
so very few people like the way I analyze the trade.
anyway, this is how I'd analyze the chart.
The whole purpose of trading is to profit from that rising green channel.
and not to trade AFTER the rising green channel ;
It is the garbage zone because the movement is choppy.
again you entered rather late in that rising green channel.
and you traded in the garbage zone.
If your charting software has the PLAYBACK capability,
you should use that feature and practice
- how to enter early in the green rising channel /
how to determine it is an uptrend early
- detect garbage zone early
2 decades ago, I used the playback feature very heavily and every day.
practice and practice and
practice and practice and when such
a pattern happens again, you will know how to react wisely
if your charting s/w doesn't have that feature, go invest in a good s/w.
It draws itself? Thanks. Where can I learn anything about that specific tool?
Thanks, I appreciate it very much. I do have playback.
its in the user created indicator section over at futures.io. I think its just called "supply and demand zones"