Price Action Journal V1.5

Flaborderie,

Thanks for posting your chart. On a couple places you wrote trend confirmed for the downtrend and uptrend. What criteria do you use to determine the trend and to know when the trend has changed? Thanks.

Floyd

Quote from flaborderie:

My friday chart.
Just the morning, I did not trade the afternoon.
Of course I did worse than Anek (we are not in the same league...),
but overall I think I did OK.
3 trades and the day is flat.
More...
 
Quote from Floyd Roberts:

Flaborderie,

Thanks for posting your chart. On a couple places you wrote trend confirmed for the downtrend and uptrend. What criteria do you use to determine the trend and to know when the trend has changed? Thanks.

Floyd
More...

2 higher highs and 2 higher lows.
 
Quote from mdl060374:

Andas, 2 quick questions:

1) what does LOTM mean? (low of the ? possibly) any other terms similar to those I should be familiar with?

2) your arrow around 16:49.. was that ideally a short or long trade? If long, how did you decide the trend had changed from a downtrend?


Me personally, could only catch the afternoon session, and caught 1 scalp.. I thought today was tricky after the initial morning move downward...

All I kept watching is the bouncing around forming a triangle in the afternoon on my 30 min anchor chart.


This led me to believe there would be alot of "bouncing around" and no solid moves... So I thought perhaps even fading S/R with tight stops might be the right thing to do...

Which begs the question, I know it seems like a bad idea for a trend following system (AHG) but are there days where you sense "no real action" and change the methodology and scalp or fade?

Or is that just asking for trouble?

advice?
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Sorry for the late response, haven't been around for some time...

1: LOTM it is essentially (as I use it) a supp/res flip or vice versa. But I think it really means Low of the morning, so I don't use it "right", but for my own references it's used as a supp/res flip.

2: Short, pullback to the broken supportline was a short IMO, but would have failed of course.

Should you deviate from the trend following?
If you make money of it - fine
But I would say, focus on one thing first, then you can learn the others later. Become an expert first in your main method.
 
I don't have any NT codes yet. When/if I do, I'll post the codes here. (This is to answer a multitude of PMs requesting them).

shakira
 
Took me all day, but here's the Auto S/R function for NT. Plots global H/L and 1hr opening range H/L... enjoy...


PS. NT has a built in function for previous day OHLC called Prior day OHLC...


JW
 

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Quote from jfw215:

Took me all day, but here's the Auto S/R function for NT. Plots global H/L and 1hr opening range H/L... enjoy...


PS. NT has a built in function for previous day OHLC called Prior day OHLC...


JW
More...

Nice job. However, it seems the OR high/low lines get confused sometimes. Today for example, for me it marks the 9:19 bar as the high and the 8:30 (1 hour before market open) bar as the low, when the actual one-hour highs and lows were at around 10:24 and 9:59.

Also I think the OR is generally considered to include only the first 30 minutes.
 
Quote from Specterx:

Nice job. However, it seems the OR high/low lines get confused sometimes. Today for example, for me it marks the 9:19 bar as the high and the 8:30 (1 hour before market open) bar as the low, when the actual one-hour highs and lows were at around 10:24 and 9:59.

Also I think the OR is generally considered to include only the first 30 minutes.
More...

Spec,

I think that's because I'm using Pacific standard time... Go in the code and change the section where it sets the boundary for oRStart an oREnd...

Also, I've heard of 15min, 30min, 60min OR... I guess you can set it in the section I just mentioned above... next version I'll make it adjustable in the properties menu
 
Quote from jfw215:

Took me all day, but here's the Auto S/R function for NT. Plots global H/L and 1hr opening range H/L... enjoy...


PS. NT has a built in function for previous day OHLC called Prior day OHLC...


JW
More...

Here's a screen shot...
 

Attachments

Quote from jfw215:

Spec,

I think that's because I'm using Pacific standard time... Go in the code and change the section where it sets the boundary for oRStart an oREnd...

Also, I've heard of 15min, 30min, 60min OR... I guess you can set it in the section I just mentioned above... next version I'll make it adjustable in the properties menu
More...

Updated version with adjustable OR time...
 

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