Price Action Journal V1.5

Took 8 trades this morning. all bad. almost too embarassing to post. here it is. today was a very very humbling day for me as i will get back to the absolute basics from now on. I will only trade if 2hh/hl or 1db/dt + hh/hl. Nothing else.

Trade 1
Bad. No higher high; previous down trend; noticable consolidation
Trade2
Bad. No 3br
Trade 3
Bad. No 3br. Would have been stopped out on 3br signal next bar, that's ok.
Trade 4
Bad. No 3br; Note to self, after a 20 point run, perhaps don't go long, to much risk
Trade 5
Bad. Don't know why went long. No 3br
Trade 6
Bad. Same as #5
Trade 7
Bad. Thought pop up on resistance. Notice change of trend.
Trade 8
Bad. Same as #7

Cheers

JW
 

Attachments

Quote from BuyYourFreedom:

4 trades +3.75

1st – small winner (completely overlooked the 8:15 low)

2nd – loser

3rd – loser

4th- winner
More...

Good play BYF. That second play would have carried you far if it didn't get stopped out. I have a question regarding that entry, please see attached chart.

Thanks

JW
 

Attachments

Quote from jfw215:

Good play BYF. That second play would have carried you far if it didn't get stopped out. I have a question regarding that entry, please see attached chart.

Thanks

JW
More...

I dont think that is a magic tick by definition.. I could be wrong here, but I thought the original bar had to close beyond support or resistance..

Again, I might be wrong, but if you look, it didnt close below your identified range..

Your entry is a good one, but the magic tick is incorrect I think.
 
Quote from jfw215:

Good play BYF. That second play would have carried you far if it didn't get stopped out. I have a question regarding that entry, please see attached chart.

Thanks

JW
More...

JW,

I think that would have been a good entry, if your account can handle the necessary stop (975.25 - .75) Unfortunately, that is too wide a stop for me. I typically don't like my stop to be any further away than 8 ticks (i prefer less).

After price broke the area you indicated, I was looking for a pullback or a good retrace on a prior candle. I just could not find an area I could comfortable enter.

BYF
 
Quote from Sniemiec:

Is the AHG1 room still open?
More...

Hi guys.

Aside of lots of screen time, has any book, or document, or whatever been recommended by Anekdoten on the topic of micro-timeframe reading of price-volume?.

I read in a thread somewhere that some volume Wyckoff principles were been applied by Anek, but I'd like to know if any specific book or document has been recommended by him or his minions, like he recommended Suri's book for example for price patterns.

Thanks in advance.

shakira
 
Quote from shakira:

Hi guys.

Aside of lots of screen time, has any book, or document, or whatever been recommended by Anekdoten on the topic of micro-timeframe reading of price-volume?.

I read in a thread somewhere that some volume Wyckoff principles were been applied by Anek, but I'd like to know if any specific book or document has been recommended by him or his minions, like he recommended Suri's book for example for price patterns.

Thanks in advance.

shakira
More...

Shakira,

There are a list of recommended reading material on page 60 of this doc.

BYF
 

Attachments

Quote from BuyYourFreedom:

JW,

I think that would have been a good entry, if your account can handle the necessary stop (975.25 - .75) Unfortunately, that is too wide a stop for me. I typically don't like my stop to be any further away than 8 ticks (i prefer less).

After price broke the area you indicated, I was looking for a pullback or a good retrace on a prior candle. I just could not find an area I could comfortable enter.

BYF
More...

mdl, BYF, both of you are right. If I chose to enter the second that bar broke the low of the previous bar, I would need a stop place a few tick above the previous bar which is pretty risky. However, I read in the journal Piscuy uses this play as a box formation. and he would set the stop middle of the previous bar instead of the top. Otherwise, wait for a pullback. When its trending that fast, it's hard to get a good entry once you miss the initial run...
I guess for now, I should just stick with the basics, which is wait for pullback.

Thanks

JW
 
Midnight craving to trade... Not bad...

2 trades
First went short market, bad fill. Price hesitated and came back. Thought I'd short the breakout. Next time wait for confirmation. Also should have moved stop to the resistance line to reduce risk.
Second, went very well, saw possible reversal based on t&s, took profit when I saw minor congestion and I gotta go sleep. t&s is powerful stuff...

Cheers

JW
 

Attachments

Quote from jfw215:

... I read in the journal Piscuy uses this play as a box formation. and he would set the stop middle of the previous bar instead of the top.
JW
More...

JW,

What journal did you find this in....I would like to check it out.

BYF
 
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