Price Action Journal V1.5

Quote from stoneface:

Does Anek always use the 5 sec chart for entries? I use the 25 tick chart sometimes... 5 sec charts are not an option for TS users. I may need to switch soon.

Wasn't there a 3BR color coded paintbar indicator that was in the AHG thread? That tool would do a reasonable job of identifying 3br's. It painted the breakout of the 3rd bar bright green or bright red. It was a SHOWME TS Indicator called 3BAR. Wouldn't that serve the same purpose for someone that wanted a visual indicator of the 3br?
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Funny you mentioned that. I have used that paint bar for awhile but I stopped. Perhaps that's a good idea to bring it back and use it as training wheels. Only problem is, the 10k is too slow and I don't know how it would look on the 5 sec...

Attached is the chart...

JW
 

Attachments

Quote from jfw215:

Stone,
Yea, nothing is 100%. For now I'll wait for the bounce until I become more experienced. I'm also looking at the 5sec chart for better entries. However, I'm not too good yet. I believe you're suppose to look for the same setups as you would on the 10k. But with the 5 sec you also need to look at volume, and it's so fast that I don't have enough time to process the signals... I guess only more screen time will help.

JW
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It's all about how you play difficult encounters. It's called being QUICK n NIMBLE, my friend... I also fell for that same 2B setup, but i took a quick exit and reverse double amount of cars, exit 50% that made up the 5pts i lost, and held for the rest of the 12 pts. =)

J.
 
Quote from jfw215:

Shakira,

Thanks for the explanation. I'll go ahead and work on the program. Lucky you, Anek got you covered. I think this will be a good exercise for me anyway.

Cheers

JW
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Actually it'd be interesting to make some code that paints or warns when BAR3 is setup, as that really is THE decision bar, if you wait to see the little triangle in BAR4, many times the move is gone. I think the logic explained before is solid. What I'm working on is once that and a handful other patterns are setting up in the chart, I study the price volume in the microscopic charts.

shakira
 
Quote from Anekdoten:

It's a ruler, just a tool, nothing special without the trader. Combine with PA and it might serve you well, helps me.

Time for some relaxation, less forum, less charts more recreational activities.

Good trading.

Anek
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Hello Anek. First, thanks for all of your contributions. I've been trying to soak up your writings.

In your monster AHG thread, you used to post charts showing daily trades. I was wondering if you could post a few trading days from the past week or two. I would like to analyze your entries using volume but I can only retrieve historical data for a couple of weeks.

Thanks so much.
 
Quote from veggen:

Potential DB forming here on ES now, on big support area from bigger anchor chart!
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A close above 42.5 and it is all good :p

hopefully...
 
....I'll tell you what is frustrating me right now... 3br's entries and stops on the 10k volume chart can be 5-6 points these days.

Quote from BuyYourFreedom:

I couldn't agree with you more.
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Try looking at a 5K chart and see if that helps at all.
 
My chart

http://i34.tinypic.com/vzfogh.jpg


11 trades - i think it's a little to many

I knew that I only short today but I was stopped many times.

I took 1 long, I thought that Anchor TL was broken

Winners: 27%
RR: 3.6

I think I should work at my exit techniques, but I don't know how...Maybe wait for 3br around pivots or major supports and resistances.

Best regards
 
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