Price Action Journal V1.5

Thanks ChkitOut.

I've heard of an M-Top or a W-Bottom. Is it possible that a m-bottom refers to a triple-bottom? It not, what will it look like?

Holt
 
Quote from Holt:

Thanks ChkitOut.

I've heard of an M-Top or a W-Bottom. Is it possible that a m-bottom refers to a triple-bottom? It not, what will it look like?

Holt
More...

good question. I've seen the pattern also referred to as a dragon. Anek's comment that "Stop adjusted for M bottom failure" makes me wonder does he mean the third low between 14:12 and 14:38 not reaching the same low as the previous two and may bounce back the way it did?

Also, on Anek's chart, around 10:50, the price moved to a new low, this looks like it breached the uptrend formation. yet he didn't exit but added position in the follow 2 bars. I can see how this could be a breakout out of consolidation and the 1184 was used as support. That's spotting a combo of uptrend, breakout, and support in real time. This seems to be pretty hard to do in the moment. Anyone have a different interpretation?

JW
 
Quote from Holt:

Thanks ChkitOut.

I've heard of an M-Top or a W-Bottom. Is it possible that a m-bottom refers to a triple-bottom? It not, what will it look like?

Holt
More...

sorry, i have no clue but your guess sounds good.

Its probably somewhere in the main journal.
 
ChkitOut,

Regardless it is a ?-bottom, price should go down when there is a ?-bottom failure; but Anek is clearly buying a "bottom failure" as price is going up. That's what confuses me.

Thanks.

Holt
 
JFW....

entry charts are ES=400 tick and NQ/YM=250 tick. The longer setup charts are ES=800 tick and NQ/YM=500... Nothing magic, I think anything can be used that matches your trading process and what you are comfortable with.

How do you include the question in your responses... ie

"quote from holt:

why is xyz and what is abc "

Cheers

toucan
 
Quote from riaamaan:

toucan, to quote someone's question in your reply, click the "quote" selection in the lower right corner of their message box.
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Thanks... this will make things easier for me..


toucan
 
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