Price Action Journal V1.5

Quote from Cold Brew:

Why were those 2 trades perfectly clear? Because they did the 3 bar setup on a LH?
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For me they was clear as the previous resistance at 50ish (which was an "old" pivot) became support. That is one of the signals that I use the most. Called LOTM. Exact entry signal has been for me 3br or matching low/high (as used by SusanaDT), but in this market that means close to zero fills when i combine it with max 2.5 stops. Look through some of my other posts and you'll see I've missed VERY many lucrative trades because of this.

As a result I have started to look at a 5sec chart to get into more trades, then when the market calmes down I can evaluate if it's smart to go back to 3br and matching high low only.
 
Quote from Cold Brew:

The 'perfect M pattern' that is noted on the chart .... where would be the entry when you see that pattern? Is there a rule of thumb?
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The conservative entry is on the pullback to the previous resistance. In NQ a W formed, and the conservative entry was on the pullback to the apex. Check out my chart from friday to see how I see those.
 
Quote from andas:

The conservative entry is on the pullback to the previous resistance. In NQ a W formed, and the conservative entry was on the pullback to the apex. Check out my chart from friday to see how I see those.
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Gotcha. Did some reading after I posted that and looks like another entry would be as soon as a bar closes above that apex rather than waiting for a pullback? would that just be a more aggressive entry?
 
Quote from Cold Brew:

Gotcha. Did some reading after I posted that and looks like another entry would be as soon as a bar closes above that apex rather than waiting for a pullback? would that just be a more aggressive entry?
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Yup...

But notice that on even that extremely strong move on friday it did pullback.

You have to decide if you go with the aggressive approach or the conservative. I think nobody can give a clear answer if you should wait for the pullback. Pullback gives probably higher winning percentage, but fewer trades possibly.
 
Quote from andas:

1 trade: - 2.5

Traded from 1:45 to close. Replayed morning

Missed some great trades today being not at the top of the game and doing some other stuff.
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I am finding the NQ insanely choppy lately.

Movement is smooth only for a brief moment.
I need to work on how to identify chop so I can
stay out.
 
Quote from greddy:

I am finding the NQ insanely choppy lately.

Movement is smooth only for a brief moment.
I need to work on how to identify chop so I can
stay out.
More...


yes the nq is extremely choppy today for the most part. i have stayed out thus far.
 
Quote from jmonday:

yes the nq is extremely choppy today for the most part. i have stayed out thus far.
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Very hard to find places to enter, retraces have been short and we moved sideways throughout lunch and in the first hour with many false BOs
 
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