Price Action Journal V1.5

Quote from BuyYourFreedom:

JW,

Find what works and repeat.

Your 8th trade was taken in a perfect area. You had two things working in your favor…the trend (LH’s and LL’s) and support had just become resistance. Good trade.

Use that anchor! :)

BYF
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Thanks BYF.. now I gotta make more plays like that.

JW
 
I made some after hour trades. Not so good, lost $70.

I made 5 trades in after market. 1 winner, 2 break even, 2 losers
First trade was good, breakout.
2nd trade was an accident, was going to place buy stop above resistance
3rd trade shorted. Didn't stay in was waiting for it to close before entering. Then the trade just left me behind
4th trade shorted too late.Take note in the future, after one down wave don't go short until pull back
5th trade shorted. Tried to call bottom with S&R but failed. In the future must wait for reversal. Notice the high took my stop out and reversed… WTF and now its going down again...

Cheers...

JW
 

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just wondering on anyone that can chime in....today in the ES or NQ, i had some trouble really getting a feel for the market.

i was wondering if you considered today 10/20, a good trending day or not?

thanks,
 
Quote from jmonday:

just wondering on anyone that can chime in....today in the ES or NQ, i had some trouble really getting a feel for the market.

i was wondering if you considered today 10/20, a good trending day or not?

thanks,
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Monday,

I didn't have the opportunity to trade yesterday but it looked like the afternoon would have provide a few trades. I attached a chart with the areas that I would have looked at to buy. The first and the third would have been the best trades....as resistance had just been flipped. Of course hindsight is 20/20 :)

I always have trouble when the range between the HH's and HL's is small. Looks like it was really tight from 9:16 to the close.

BYF
 

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Quote from BuyYourFreedom:

Monday,

I didn't have the opportunity to trade yesterday but it looked like the afternoon would have provide a few trades. I attached a chart with the areas that I would have looked at to buy. The first and the third would have been the best trades....as resistance had just been flipped. Of course hindsight is 20/20 :)

I always have trouble when the range between the HH's and HL's is small. Looks like it was really tight from 9:16 to the close.

BYF
More...


i guess i'm having trouble seeing what is a valid ll or hl.

how far of a pullback in and uptrend do you need for it to be an official HL?

cause even in that chart of entries, you can say that you circled going long after a lower lower not a higher low.
 
2 trades - 2 winners

First trade was replay. If I have gotten any information of the market before I do the replay I have no use of it. That often happens as just a glimpse on the ticker at CNN or similar is enough to ruin a replay session. Today was ok though.
 

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Quote from jmonday:

i guess i'm having trouble seeing what is a valid ll or hl.

how far of a pullback in and uptrend do you need for it to be an official HL?

cause even in that chart of entries, you can say that you circled going long after a lower lower not a higher low.
More...


I think that at one time or another all students of AHG have had the same problem. We train our eyes to recognize practically every HH & HL or LL & LH that prints on the screen. This, in my limited experience, has led to over trading or a failure to make the correct trades.

On the bright side, I have notice that the more screen time I put in the better I get at ignoring the "noise" within the trends I trade.
Reviewing historical data and annotating charts has helped me tremendously. I have been doing this long enough, that recently when I am trading I have developed an expectation of where I need price to pull back to in order for it to represent a good entry for me. Otherwise I ignore, even if it leaves me behind.

One thing you may also want to consider using are fib retracement lines. You will notice that many trends will offer an entry at 38% & 50% pullback of the prior rally.

As always...take what I say with a grain of salt...I way to new to be offering advice.
 

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