Price Action Journal V1.5
- Thread starter TraderKaizen
- Start date
0 trades today. As usual I followed it only from 1 PM to close. Usually I don't trade FOMC day according to AHG rules, but was close a couple of times.
Also, I don't know if I can trust the old pivots from the earlier contract. Does anyone know if they can be trusted(merged data in NT)?
Also, I don't know if I can trust the old pivots from the earlier contract. Does anyone know if they can be trusted(merged data in NT)?
Dear Anek,
Going to miss studying your charts. Hope you'll return soon.
A few quick questions about today's chart:
(1) What is that "Cross" stands for at the beginning (far left side)
of your chart?
(2) What are "Short ORH-DTOP", "pLOD area" & "Long OR-H" stand for?
(3) What is a "M-bottom"?
Thank you very much!
Holt
Going to miss studying your charts. Hope you'll return soon.
A few quick questions about today's chart:
(1) What is that "Cross" stands for at the beginning (far left side)
of your chart?
(2) What are "Short ORH-DTOP", "pLOD area" & "Long OR-H" stand for?
(3) What is a "M-bottom"?
Thank you very much!
Holt
JFW....
The moving average is a 100 EMA. I only use it to help keep me out of trouble. It is not used for setup or entry. Sometimes, I lose concentration and just need a crutch to keep me from doing something stupid, like trading long in a strong downtrend. The entry for YM just happened to cross the EMA.... I saw the setup on another chart, switched to this chart for entry and by the time I entered price had moved up 4 candles (all at 640) .... The same thing happened for the second ES entry... 3 candles at 652...
I use HH/HL or LH/LL on a higher level tick chart to identify possible setups, then switch to these tick charts for final decision on trigger/entry. Sorry for the confusion.
Cheers
Toucan
The moving average is a 100 EMA. I only use it to help keep me out of trouble. It is not used for setup or entry. Sometimes, I lose concentration and just need a crutch to keep me from doing something stupid, like trading long in a strong downtrend. The entry for YM just happened to cross the EMA.... I saw the setup on another chart, switched to this chart for entry and by the time I entered price had moved up 4 candles (all at 640) .... The same thing happened for the second ES entry... 3 candles at 652...
I use HH/HL or LH/LL on a higher level tick chart to identify possible setups, then switch to these tick charts for final decision on trigger/entry. Sorry for the confusion.
Cheers
Toucan
Sorry for the confusion... the moving average had nothing to do with the setup or entry. in the future, i will try to remember to take the moving average off of my charts as it is not used for setup or entry. 
If you look at price action just prior to the 630 open, price hit lows several times.... then price rose until about 635, then price pulled back until about 639, price started rising about 640 (I like entries between 635 and 645) .... as you can see on my chart... there was a higher high about 635 and a higher low about 639... that was my setup and the trigger was the start of the upmove at 640... by the time I got my entry it was 641... price had moved 3 quick bars all at 640. in a perfect world, I would have been able to enter right at the first 640 bar... but that never seems to work for me .
Cheers
Toucan
If you look at price action just prior to the 630 open, price hit lows several times.... then price rose until about 635, then price pulled back until about 639, price started rising about 640 (I like entries between 635 and 645) .... as you can see on my chart... there was a higher high about 635 and a higher low about 639... that was my setup and the trigger was the start of the upmove at 640... by the time I got my entry it was 641... price had moved 3 quick bars all at 640. in a perfect world, I would have been able to enter right at the first 640 bar... but that never seems to work for me .
Cheers
Toucan